Vancouver, BC, Canada - (November 18, 2002) - Carmanah Technologies Corporation (TSX VE: CMH; Berlin and Frankfurt Stock Enchanges: QCX), is pleased to announce that the city of Bristol, England is currently installing approximately 150 units of the "Dual Flash IQ", the company's solar-powered LED school crossing flashers.
Worth approximately $125,000, the units were purchased through Carmanah's U.K. distribution partner, Solagen (www.solagen.net) in September 2002 and represent the first larger scale purchase of this product. Bristol has indicated that it may embark on a similar project next year with further purchases.
"This initial order provides further confirmation that the work we've done and time we have invested in the European highways and public transportation sectors is reaping rewards for the company", states Art Aylesworth, Carmanah's CEO. "It is exciting to see the ongoing acceptance of our core technology in sectors other than the marine industry."
School crossing flashers, known as "waggers" or "wig-wags" by British street lighting engineers, are placed at 50 meters from school crossing to warn approaching traffic that children may be crossing the road ahead. The Dual Flash IQ units from Carmanah will be installed in the next few weeks at 61 locations around schools throughout Bristol.
Many U.K. cities like Bristol are actively looking for alternative renewable energy solutions at a reasonable cost, making solar LED technology attractive. The contract for Dual Flash IQs was awarded to Carmanah after a successful field trial of four units last winter, and after a successful bidding against seven other companies. Carmanah won the contract because of the cost efficiency, ease of installation and low maintenance of its waggers. As the lights are solar-powered, the city of Bristol will be able to save money on cabling, trenching and electrical connections necessary for hard-wired lights. The city can install each unit in approximately 30 minutes, and the LEDs for this application are expected to operate for up to 40 years.
Carmanah's Dual Flash IQ unit is the only solar-powered, LED illuminated wagger available in the U.K. with official "Type Approval" from the U.K. Highways Agency. Carmanah received "Type Approval" for its roadway flasher units in September 2002; a critical step for widespread use of the product beyond prototype field trials.
Since developing the product for introduction to the U.K. and European markets 18 months ago, Carmanah has sold approximately 270 Dual Flash IQs, primarily for field trial purposes. The company now has more than 15 transportation authorities evaluating the product for widespread use as an alternative to traditional hardwired models.
To accommodate its expansion into the U.K., Carmanah opened a London office at the beginning of November with key personnel relocated from the company's headquarters in Victoria.
About Carmanah Technologies Inc.
Carmanah is an award-winning alternative energy manufacturer specializing in patented, proprietary solar-powered LED lighting solutions for the marine, transit, roadway and railway markets. The company has distributors in over 80 countries and now has more than 50,000 units installed in 110 countries. Carmanah was awarded VIATeC's Technology Company of the Year award on September 19, 2002 for Carmanah's exceptional growth and productivity in the last year, as well as the company's commitment to excellence in the field of solar-powered LED technology. The shares of Carmanah Technologies Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "CMH" and on the Berlin and Frankfurt Stock Exchanges under the symbol "QCX". For further information, visit www.carmanah.com or call 1.877.722.8877.
On Behalf of the Board of Directors
Carmanah Technologies Corporation
Praveen Varshney, Director
For further information, please contact.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in our Annual Report for the fiscal year ended December 31, 2001, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. These risks and uncertainties are also described under the caption "Risk Factors" in our Annual Information Form dated December 31, 2001, as filed with the British Columbia Securities Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this press release.