June 12, 2008

Waterloo, ON , Canada: ARISE Technologies Signs Six-Year Wafer Supply Agreement

ARISE Technologies Deutschland GmbH has signed a six-year agreement with a wholly owned subsidiary of ReneSola Ltd to supply ARISE with 203.5 MW of silicon wafers. ReneSola Ltd is a leading solar wafer manufacturer based in China.

The agreement commences July 1, 2008 and extends through June 30, 2014. Shipments are expected to consist of 203.5 MW of silicon wafers over the 6-year term.

Pricing and payment terms are consistent with current standard industry practices.

"With this agreement, ARISE now has supply contracts for 100 percent of the solar wafers that we require in 2008 and approximately 60 percent of our needs for 2009 for our PV (photovoltaic) cell production plans at our new German manufacturing plant," said Bart Tichelman, President and Chief Executive Officer. "ReneSola is the seventh, high-quality silicon wafer manufacturer with which ARISE now has developed a supply relationship that we believe will enable us to meet our longer-term requirements."

Further details about: ARISE Technologies and Renesola