Small-Cap Awarded 150kW Rooftop Solar System Contract

By: AllPennyStocks.com News

January 20, 2010
The sun isn’t something we can see much of in winter, at least during a Canadian winter, which is why companies that can harness its enormous potential – and make a living with it – are to be commended.

Thus, in the third week of January – just as the days were starting to get noticeably longer – it was announced that ARISE Technologies Corporation (TSX:APV), based out of the technology hotbed city of Waterloo, Ontario, the same hometown as Research in Motion (TSX:RIM), had been awarded a contract to supply a 150-KiloWatt photovoltaic rooftop solar system to Waterloo Region, encompassing not only the town of Waterloo but many neighbouring communities.

The system will be installed on the Regional Operations Centre in nearby Cambridge. The Region issued a public tender as part of the selection process, and picked APV’s submission from out of about 20 bids. The ARISE system used in this project will meet all Ontario content requirements as outlined in the Ontario Green Energy Act and is expected to be installed and operational by sometime this summer.

APV’s mission is to become a leader in high-performance, cost-effective solar technology. The company’s PV Cell Division manufactures PV cells at its manufacturing plant, which first opened in April 2008 in Germany, aimed at developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%.

Two other APV divisions include The PV Silicon Division which is using a proprietary method to produce silicon at high-purity for PV cell applications, based on a simplified chemical vapour deposition process. The division is focusing on scaling up its process to provide APV with cost and quality control. A third division, the PV Systems Division, provides complete turnkey PV solutions for solar farms and rooftop installations.

Only the week before, APV reported preliminary fourth-quarter revenues for 2009 around $11.3 million, trampling over the $18.9 million in the same quarter the year before. The final figures were not to roll in until March, but total revenue for the year ended December 31, 2009 is projected to be approximately $31.7 million, just a tad less than the $35.7 million for the year ended December 31, 2008. However, the recession has to be factored into the equation.

APV stock has not dangled near the 52-week extremes experienced last spring, comfortably hovering in the 28-30 cent region, even with the happy news in January. The stock plumbed a depth of 18.5 cents last March, before climbing to a height of 66 cents in late April. But, while the price is still very affordable, investors would do well to look this company’s technology over as soon as possible – perhaps with their sunglasses.

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