VICTORIA, BC, CANADA (January 7, 2010) - Carmanah Technologies and Semex today announced a manufacturing & distribution partnership that will bring leading-edge solar LED lighting and solar-powered traffic beacon technology to Mexico. Carmanah and Semex have partnered to manufacture solar LED lighting and signaling solutions for outdoor lighting and traffic applications at Semex's facility in Monterrey, Mexico.
The manufacturing agreement will allow both companies to penetrate further into the outdoor lighting market in Mexico and will help them to service major clients across the country.
The partnership will combine the ingenuity of a traffic light component manufacturing company with the leading-edge technology of Carmanah solar LED lighting solutions. This will further enable the offering of high-performance solar solutions at competitive market prices helping to both accelerate the adoption of solar technology within the targeted territories and establish Carmanah and Semex as leading providers of solar LED outdoor lighting and solar traffic signaling products. With Semex's strong local presence and service capabilities, customers will be able to procure solar lighting and solar traffic products and leverage Semex's local installation and maintenance capabilities, providing customers with full turn-key products and services.
"We are pleased to partner with Semex to create a Mexican 'Powered by Carmanah' solar LED lighting solution," said Ted Lattimore, Carmanah CEO. "Semex has a long and very successful track record of traffic-oriented products and customer service capabilities in Mexico. Combined with Carmanah's outdoor solar area lighting and solar-powered traffic solutions, customers will be afforded with a broad product and service portfolio addressing both their on and off-grid requirements progressing our leadership position in this area."
Alejandro Brunell, Semex President and CEO added, "With this partnership we will be offering the best energy solutions customized to meet any power requirement of our multiple clients. Corporations and governments are becoming more educated on the importance of energy conservation and utilizing sustainable resources.
"The solar-powered LED lights that will be manufactured at our facility will offer a competitive cost-value ratio and will provide cost-effective lighting solutions using high-quality components. We are confident our partnership with Carmanah will bring enormous benefits to our clients."
Powered by Carmanah solar technology and incorporating Semex components, the solar LED lighting solutions will provide stand-alone lighting that functions completely free from electrical grid connections, providing highly reliable illumination for a variety of outdoor lighting applications including streets, parking lots and residential areas.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH". For more information, visit carmanah.com.
Semex is a leading developer and manufacturer of highway safety and traffic products serving customers worldwide for the past 50 years. Semex is part of the Signal Group's companies (www.signalgp.com). For more information, visit www.semex.com.mx.
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Forward Looking Statements
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Carmanah's Annual Report for the fiscal year ended December 31, 2008, as filed on SEDAR at www.sedar.com. The risk factors identified in Carmanah's Annual Report are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.
Semex is a leading developer and manufacturer of highway safety and traffic products serving customers worldwide for the past 50 years. Semex is part of the Signal Group's companies (www.signalqp.com). For more information, visit www.semex.com.mx.
Carmanah Technologies Corporation