ARISE posts loss, boosts R&D for 2008

Waterloo ON-based ARISE Technologies Corp posted an operating loss of $36.9 million for 2008, just as its production began to ramp up for its photovoltaic (PV) cells. The company continues to ramp up R&D although the impact of the recession has resulted in lower prices and slackening demand for silicon wafers and PV cells . R&D for 2008 was $6.4 million, up 64.3% from 2007. Sales of PV cells and systems increased 2,975% from $1.2 million in 2007 to $35.7 million in 2008, with sales of $18.9 million in Q4 alone. The company recently signed a 10-year lease for a 6,700-sq-m building in Kitchener for pilot plant to produce 7N+ solar-grade polysilicon. Main PV cell production takes place at the firm's facilities in Bischofswerda near Dresden. Earlier this year, an interim president was appointed and a search is underway to secure a permanent replacement (see People, page 7)….