VICTORIA, BRITISH COLUMBIA, CANADA (April 08, 2009) - A City of Toronto parking facility is getting a green upgrade with solar power technology from Carmanah Technologies (TSX: CMH). Valued at more than $550,000, the grid-tie system will help the multilevel parking facility to control energy costs, while reducing its reliance on the Toronto Hydro distribution system.
Starting with a structural upgrade to strengthen existing rooftop supports, the project will include a web-based performance-monitoring system that tracks system status, power production and environmental variables to ensure optimal operation. While helping the City of Toronto meet its renewable energy goals, the integrated solar power system can also generate revenue through contract-based incentives such as the Ontario Power Authority's proposed Feed-in Tariff (FIT) program.
While offering immediate benefits in the form of reduced energy consumption, lower monthly electricity bills and ongoing revenue generation, the system's rooftop array will serve as a highly visible symbol of the City of Toronto's commitment to a sustainable future powered by clean and efficient renewable energy technology.
Based in Victoria BC, Carmanah Technologies is a leading provider of solar power systems for grid-tie applications across Canada. Other recent grid-tie applications include the Toronto Parking Authority, and the Jean Canfield Government Building in Prince Edward Island - named Canada's 2008 Solar Project of the Year by the Canadian Solar Industries Association (CanSIA).
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 www.carmanah.com.
Carmanah Technologies Corporation
Chief Financial Officer
For further information, please contact:
Investor Relations: Roland Sartorius
Public Relations: David Davies
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.