Victoria, BC – July 3, 2003 – Carmanah Technologies Corporation (TSX VE: CMH) is pleased to announce that Pace, IL – the suburban bus division of Chicago’s Regional Transportation Authority (RTA) – has purchased $25,000 in Carmanah i-STOP™ units for field trial through an open competitive bidding process. The agency, which serves 5.2 million people in greater Chicago, is completing a $14.7 million Intelligent Bus System to improve efficiency, reduce waiting times and increase ridership.
“We are now seeing the spin-off from our successful first wave of i-STOP™ installations in cities like Atlanta and Seattle,” said Carmanah’s CEO Art Aylesworth. “The latest sales to large, medium and small U.S. transit agencies show the new i-STOP™ is already making inroads into every level of the multibillion-dollar U.S. transit market.”
Again and again, transit authorities are finding the i-STOP™ to be one of the most cost-effective ways to increase efficiency, public safety and ridership. The i-STOP™ installs on common bus-stop poles and consists of an illuminated bus schedule, a security light and a flashing LED (light-emitting diode) beacon that notifies bus drivers up to one mile (1.6 kilometers) in advance if there is someone waiting at the stop. The i-STOP™ is a particularly effective solution to transit’s persistent problem of rider “pass-bys” in areas of poor lighting, busy traffic or high driving speeds.
The latest sales include:
“We are extremely excited that Pace in Chicago has chosen to field trial our technology,” said Aylesworth. “Pace is part of the second largest public transportation system in North America, with an annual budget of about $1.5 billion and over 12,000 potential i-STOP™ bus-stop locations. From the Mojave Desert to the city of Chicago, our new sales are proving that the i-STOP™ has something for every one of the 2,200 transit agencies in the U.S.”
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, aviation, roadway and railway markets. The company currently has more than 70,000 units installed in 110 countries. 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, please visit www.carmanah.com.
On Behalf of the Board of Directors
Carmanah Technologies Corporation
Praveen Varshney, Director
For further information, please contact.
Mr. David Davies
Telephone: (250) 382-4332
Corporate and Investor Contact:
Mr. Praveen Varshney, Director
Telephone: (604) 629-0264
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, 2002, 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, 2002, 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.