2007-10-15 18:16 ET - News Release

Mr. Ian MacLellan reports

RISE TECHNOLOGIES CORPORATION ANNOUNCES SIGNING OF SILICON FEEDSTOCK PILOT PLANT AGREEMENT

ARISE Technologies Corp. has signed a contribution agreement with Sustainable Development Technology Canada (SDTC) for its silicon feedstock pilot plant project. SDTC is financing approximately one-third of eligible project costs up to a total of $6,439,037 payable upon successful completion of project milestones. ARISE has received an initial instalment of $587,189.50 in accordance with the terms of the agreement.

SDTC's contribution has been leveraged by a $13.2-million financing commitment from a consortium led by ARISE Technologies. The company is working with Ebner Gesellschaft MBH, the University of Toronto, the University of Waterloo, and Topsil Semiconductor Materials A/S to develop a new approach for refining high-purity solar-grade silicon.

"SDTC support for the project will allow ARISE to more rapidly scale up our proprietary silicon feedstock process to production," said Ian MacLellan, ARISE's president and chief executive officer. "This high-purity silicon is integral to our high-efficiency photovoltaic (PV) cell plans and high efficiency is what matters to our customers."

"The high cost of producing PV cells has been one of the major issues facing the PV solar industry," said Vicky J. Sharpe, president and chief executive officer of SDTC. "ARISE's new production technique aims to increase efficiency while also reducing costs. Should the ARISE project be successful, it will be an important step forward for the PV solar industry in Canada and around the world."

The goal of the silicon feedstock pilot plant project is to develop and demonstrate a new approach to refining high-purity solar-grade silicon feedstock for PV applications. A major constraint in the PV value chain has been the supply of silicon. The ARISE approach will use a new technique to produce silicon feedstock that can be fed into the ingot-making process that produces crystalline silicon ingots for solar cells. The silicon produced is currently expected to meet the specifications of high-efficiency solar PV cell manufacturers.

About SDTC

SDTC is an arm's-length foundation which has received $1.05-billion from the government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550-million SD Tech Fund supports projects that address climate change, air quality, clean water and clean soil. The $500-million NextGen Biofuels Fund supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.