ARISE Appoints New Chief Executive Officer

WATERLOO, ON, Oct. 21 /CNW/ - ARISE Technologies Corporation ("ARISE" or "the Company") (TSX: APV and Frankfurt: A3T), a leader in high-performance, high-quality, cost-effective solar technology, today announced that the ARISE Board of Directors has named Daniel Shea as the Company's new Chief Executive Officer ("CEO"). Effective October 21, 2010, Mr. Shea will take over from current CEO, Vern Heinrichs' who is retiring from the position which he has held since 2009. Mr. Heinrichs will also step down as a director of ARISE and Mr. Shea will be nominated as his replacement. Mr. Heinrichs has agreed to continue to serve as a consultant to ARISE for a three-month period.

"We are delighted to have Daniel Shea join us as the new CEO of ARISE," said Peter Harder, Chairman of ARISE. "Daniel is a seasoned technology industry executive who has held senior leadership positions at several leading technology firms. He has a clear vision of what is necessary to drive ARISE's ongoing growth and success and ensure that the Company continues its emergence as a market leader in the PV solar sector."

"On behalf of the Board of Directors, I would like to thank Vern Heinrichs for his many contributions as CEO of ARISE during a very challenging period in the Company's history," added Mr. Harder. "Under his leadership, ARISE was able to withstand the impacts of the global economic downturn and emerge a stronger, more focused organization. Vern has also made valuable contributions at the Board level, both in his current role as a director and in his previous position as Chairman of ARISE. We look forward to continuing to work with Vern over the next three months and wish him all the best in his future endeavours."

Mr. Shea has more than 30 years of broad experience in the technology industry and most recently was Senior Vice President at Research in Motion.  Prior to that, Mr. Shea spent 27 years at Celestica/IBM in progressively senior management positions. His roles included:  Chief Technology Officer, Senior Vice President/Account General Manager and President of the Power Systems Division.

Mr. Shea is a professional engineer, holds a B.A.S.C. in Electrical Engineering from the University of Toronto and currently serves as an advisor to a number of organizations including the University of Toronto's Engineering Dean's Advisory Board.

"I'm very pleased to be joining ARISE at such an exciting time," said Mr. Shea. "The Company and its products have developed a tremendous reputation for quality and efficiency. This is a testament to the hard work and dedication of the committed team at ARISE. I look forward to working closely with them to continue to provide premium products and service to customers in our core markets of Europe and Ontario, while seeking innovative opportunities to market and distribute our products on an international scale."

About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology.  The Company operates through three divisions.  The PV Cell Division manufactures PV (photovoltaic) cells at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany.  The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of greater than 20%.  The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor deposition process.  The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality.  The PV Systems Division has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In Tariff) program.

The Company's shares are listed on the Toronto Stock Exchange under the symbol APV and on the Frankfurt Open Market Exchange under the symbol A3T.  Additional information is available at www.arisetech.com and www.sedar.com. 

Forward-Looking Statements and Risk Factors

Certain statements in this news release may be considered to be forward-looking.  Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings.  Please refer to these.  Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, the requirement for additional capital, high debt levels, negative working capital levels, lack of profitability, risks associated with manufacturing, industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements. 

Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com.  These factors should be considered carefully, and readers should not place undue reliance on ARISE's forward-looking statements.

ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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For further information:

Investor Relations
Glen Williams
The Equicom Group
[phone] ext. 272
[email protected]