ARISE Announces 250kW PV System Order and Provides First Quarter and PV Cell Production Update

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Press Release Source: ARISE Technologies Corporation On Monday May 16, 2011, 4:58 pm EDT

WATERLOO, ON, May 16 /CNW/ - ARISE Technologies Corporation ("ARISE" or "the Company') (TSX: APV and Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today announced that its Systems Division has been awarded a contract to supply a 250KW photovoltaic ("PV") rooftop solar system to a major condominium developer in Milton, Ontario.

"Ontario's Green Energy Act has made it possible to not only reduce operational costs of condominium living, but more importantly allowed Del Ridge to produce what we believe to be Canada's first net-zero building," commented Anthony Desylva, Energy Manager of Del Ridge Homes.

"We are very pleased to be selected by Del Ridge Homes to assist them in delivering their unique green concept to new condominium buyers," said Dan Shea, President of ARISE. "Since the launch of the Ontario Feed-in Tariff ("FIT") program, we have seen steadily growing interest across all sectors of the Ontario solar market."

The ARISE rooftop system will meet domestic content requirements as laid out by the Ontario Power Authority and is expected to be installed and operational at the Del Ridge condominium by the fall of 2011.

2011 First Quarter Results Timing
Due to the transition to new accounting International Financial Reporting Standards ("IFRS") the Ontario Securities Commission has extended to Tuesday, June 14, 2011 the date by which all TSX-listed companies must report their first quarter 2011 results. As a result, ARISE expects to release its 2011 first quarter results sometime during the week prior to the deadline. A media release will be issued when the date and time of the first quarter results conference call are finalized.

PV Cell Production Update
Production at ARISE's German PV cell plant has been temporarily reduced until such time as inventory levels come down or there is an improvement in market conditions. The European solar market experienced weaker than anticipated customer demand during the first quarter of 2011 which has caused PV cell inventories to rise. The industry predicts stronger demand levels in the second half of 2011 based on an anticipated positive announcement regarding Germany's feed-in tariff reductions. ARISE will continue to monitor the situation carefully and will adjust production volumes as required to maximize cost efficiencies and maintain targeted inventory levels.

About Del Ridge Homes
Del Ridge builds homes of distinction. Their vast reservoir of homebuilding knowledge and experience allow them to offer new homebuyers quality and new home value seldom found in today's new home market. Del Ridge has amassed the know-how and people necessary to deliver top quality and satisfaction to its customers. Del Ridge is a proud Ontario-based company with its principals having over 35 years experience in building and development throughout the Greater Toronto Area.

About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division has been providing rooftop and ground-mounted PV solutions since 1996. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.

The company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T. Additional information is available at www.arisetech.com and www.sedar.com.

Forward-Looking Statements and Risk Factors
Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, high debt levels, negative working capital levels, lack of profitability, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements.

Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.