WATERLOO - ARISE Technologies Corporation congratulates the University of Toronto (U of T) on its recently announced receipt of funding for four leading research projects. ARISE is further delighted to announce that it is the industry partner for the $15 million project to develop high-efficiency solar technologies which received a $5 million funding commitment. The Ontario Research Fund Research Excellence ("ORF-RE") grant is made available through the Ministry of Research and Innovation. Minister of Research and Innovation John Wilkinson made the announcement today at U of T.

"To ensure Ontario families can compete and win in the global economy, our government is investing in research and innovation and the skills and knowledge of our people today," said MPP for Kitchener-Centre, John Milloy. "The strong partnerships among our top researchers, government and business leaders right here in Waterloo and across the province - will provide Ontarians with new technologies, a cleaner environment and more opportunities for success."

Under the terms of the funding commitment, ARISE will contribute one third of the $15 million total research program costs over 5 years, with the balance of funding coming from the U of T and the Ministry of Research and Innovation, in equal parts.

ARISE's significant commitment to the project builds on the seed-research funding provided over the last several years in cooperation with the Ontario Centres of Excellence and the Natural Sciences and Engineering Research Council of Canada.

Commenting on the ORF-RE grant, Ian MacLellan, ARISE's President and CEO remarked, "This funding is a terrific endorsement of our research activities and is expected to bring us closer to our goal of 20% plus efficiency solar cells, while lowering overall manufacturing costs."