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Arise Signs Customer Agreement with Solon AG
Jan 10, 2008 12:03PM
ARISE Technologies Corporation Announces Signing of Customer Agreement
16:39 EST Thursday, January 10, 2008
WATERLOO, ON, Jan. 10 /CNW/ - ARISE Technologies Corporation ("ARISE" or the "Company") (TSX: APV) announced today that its wholly owned subsidiary ARISE Technologies Deutschland GmbH ("ARISEGermany"), has entered into an agreement with SOLON AG ("SOLON") of Germany to supply photovoltaic (PV) cells.
Under the terms of the agreement, ARISE Germany will supply SOLON with 212 megawatts of PV cells over a five year period. Produced at ARISE Germany's high-efficiency PV cell production facility in Bischofswerda, shipments will commence in second quarter 2008 and continue throughDecember 2012. The first year of the five year agreement is take or pay, with subsequent pricing to be negotiated on a year by year basis.
Commenting on the agreement, Chris Waters, Vice President, Business Development for ARISE remarked, "We are pleased to sign this agreement with SOLON and view our partnership as an endorsement of our high efficiency product roadmap. We are particularly thrilled to have SOLON as our first major customer in the important German marketplace."