Solar tech company Arise Technologies to review strategic alternatives

WATERLOO, Ont. – Arise Technologies Corporation (TSX:APV), a maker of solar energy equipment and technology, says its board has begun a review of strategic alternatives in a bid to boost shareholder value.

Arise said Monday it has hired Canaccord Genuity Corporation as financial adviser to help in the review.

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“We are pleased to be working with Canaccord Genuity to help us in evaluating a full range of opportunities and options,” said said Dan Shea, president and CEO of Arise.

“While we are currently engaged in discussions with a number of parties regarding strategic options, Canaccord Genuity’s advice will assist us to rigorously review all possible options in order to determine the best way to maximize stakeholder value going forward.”

Arise makes photovoltaic cells at its manufacturing plant in Bischofswerda, Germany. The company also develops technology to produce high-purity silicon and also provides rooftop and ground-mounted photovoltaic solar panel systems.

In trading on the TSX on Monday, Arise shares were unchanged at 6.5 cents.