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February 17, 2016

Carmanah Technologies named 2015 UVic Co-op Employer of the Year

  It takes a very special co-operative education (co-op) employer to stand out from the 1,130 organizations that provided outstanding dynamic learning opportunities for UVic co-op students in 2015. It is with great excitement that the Co-operative Education Program and Career Services (Co-op and Career) has named Victoria-based LED and solar technology provider Carmanah Technologies Corporation as the 2015 UVic Co-op Employer of the Year. Carmanah Technologies has provided positions for an impressive 18 co-op students since 2011 and has hired eight of these former students into full-time positions after graduation.
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February 02, 2016

Carmanah Technologies highlighted in EDC article on international business

  15% more Canadian SMEs use EDC export guarantee in 2015 for international sales Export Guarantee Program surpasses CAD 1 billion mark   More than 630 small- to medium-sized enterprises (SMEs) used Export Development Canada’s (EDC) Export Guarantee Program (EGP) in 2015, a 15 per cent increase over 2014. The increase was driven, in part, by an evolution in the EGP’s level of coverage.
January 28, 2016

Carmanah featured in ExportWise: Ready to Export: Are you innovating?

Ready to Export: Are you innovating? Companies that export are more innovative, productive, profitable, and protected from risk. This, the first in a four-part series, talks about how businesses that innovate and invest in R&D compete on the global stage. John Simmons is in a competitive business and he’s not just competing with other Canadians in his line of work — he’s competing with companies across the globe. Simmons is CEO of Carmanah, a solar technology company that provides LED lighting solutions — street lights, parking lot lights and pathway lights — to infrastructure, including marine aids for navigation and airfield for ground lighting. “We try to innovate so our solutions provide the best value for customers,” Simmons says. In other words, his technology gurus work hard to make sure their products are the safest, most robust and at the lowest possible price. “When we’re competing on the world stage, we’re up against competitors from a variety of countries,” Simmons said.
January 13, 2016

Carmanah Reports Resignation of Director

Carmanah Technologies Corporation (TSX: CMH) (“the Company”) today announces the resignation of Peter Berrang from the Board of Directors. “Peter has been active and involved with Carmanah throughout his board tenure” said Michael Sonnenfeldt, Chairman of the Board.
November 12, 2015

Carmanah Reports Third Quarter 2015 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its third quarter financial results for the period ended September 30, 2015.  Currency amounts are in U.S. dollars unless otherwise noted. For the quarter ended September 30, 2015, the Company recorded revenues of $19.9 million, up from $12.2 million in the same period of 2014.  About $6.0 million of the increase in revenue was attributable to the Sabik Group of Companies (“Sabik” or the “Sabik companies”), which were acquired on July 2, 2015.  Combined existing operations generated about $1.7 million in revenue growth, representing approximately 14% overall organic growth compared to the third quarter of 2014. The net loss for the third quarter of 2015 was $0.3 million, down from net income of $0.2 million from the comparable period in 2014.  The comparative change is mainly attributable to the purchase price allocation of the Sabik acquisition.  On the closing date Sabik had a significant order backlog from which a future profit of $1.3 million was estimated.
November 05, 2015

Carmanah Announces Release Date for Third Quarter 2015 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its third quarter 2015 financial results on Thursday, November 12th, 2015 after market close. Carmanah has scheduled a conference call for analysts at 11:00 am PT (2:00 pm ET) on Friday, November 13th, 2015.
October 22, 2015

Carmanah Announces Management Changes

Carmanah Technologies Corporation (TSX: CMH) (“the Company”) today announces that Chief Operating Officer, Ms. Tammy Neske, and the Company have agreed to part ways with immediate effect. Pursuant to the terms of her employment contract, Ms. Neske will receive a severance payment that the company will incur in the current quarter. The Company intends to begin a recruiting process for this position in the near term.  In the meantime, Chief Executive Officer, John Simmons, will manage the COO functions. About Carmanah Technologies Corporation Headquartered in Victoria, British Columbia, Carmanah produces a portfolio of products focused on energy optimized LED and solar technologies.
October 07, 2015

Carmanah Releases Preliminary Financial Results for Q3 2015

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) has released preliminary selected financial results for the quarter ended September 30, 2015. As has been the Company's practice, this preliminary release includes revenue and open order guidance, as well as commentary respecting gross margins.
September 30, 2015

Sara Elford Joins Carmanah’s Board of Directors

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that Ms. Sara Elford is joining its Board of Directors.   Ms. Elford graduated from Bishop’s University in 1994 with a Bachelor of Business Administration and became a CFA Charterholder in 1997.
September 22, 2015

Carmanah Ceases Work on Joint Development Contract

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that it has reached a mutual settlement to cease efforts on a joint project to develop landing lights with Tactical Lighting Systems Inc. (“Tactical”) as previously announced on May 19th, 2015.  The original contract was awarded on a cost-plus-incentive-fee basis to Tactical by the United States Naval Air Warfare Center (“NAVAIR”), Aircraft Division.  Within this contract Carmanah was to be a sub-contractor to Tactical.  As part of the settlement, Tactical has reimbursed Carmanah for all costs incurred to date and neither party will have joint development obligations under the NAVAIR contract. The decision to cease efforts was taken on a joint and mutual basis by Tactical and Carmanah.  The decision was reached after significant operational challenges arose under the prime contract requirements to comply with the U.S.