Vancouver, BC, Canada - Thursday, June 10, 2004 - Carmanah Technologies Corporation (TSX VE: CMH; Berlin and Frankfurt Stock Exchanges: QCX), is pleased to announce that it has won a tender to retrofit bus shelters in the City of West Covina, California, with Carmanah i-SHELTER(tm) solar-powered LED lighting systems. As the successful bidder, Carmanah has received an initial contract for approximately $81,000, with the full tender comprising up to $155,000.
West Covina is a Los Angeles suburb of about 100,000 residents, served by the Foothill Transit District and the Los Angeles County Metropolitan Transportation Authority, the fifth largest transit agency in the United States. "This successful bid affirms our competitive position in solar-powered LED lighting and marks one of our largest i-SHELTER(tm) sales to-date in the North American market," states Carmanah's CEO, Mr. Art Aylesworth. "The Los Angeles and Orange Counties contain more than 15 large transit agencies, representing an excellent showcase for our technology and potentially leading to future orders from surrounding municipalities."
Requiring no external power, and therefore no electrical connection permits, cable trenching, etc., Carmanah's stand-alone, solar-powered LED lighting systems are easier and significantly less expensive to install and operate than conventional shelter lighting. In fact, the city of London, England, has indicated that solar lighting technology could reduce shelter lighting costs by 36 percent. Additional benefits include:
- Improved safety and convenience with bright lighting for waiting passengers;
- Improved night bus service through clear, easy-to-read bus timetable illumination;
- Zero electrical and maintenance costs, resulting in significant ongoing operational savings;
- Reduced greenhouse gas emissions through alternative solar energy source;
- Immunity to blackouts and electricity price increases.
Also this month, Carmanah will install its first solar-powered LED bus shelter lighting system for Seattle's Sound Transit in a new bus shelter in Seattle's Union Square - a six-month field trial that could result in additional orders.
"We are very excited to see the i-SHELTER(tm) making inroads into the North American market following our success in the U.K.," said Aylesworth. U.S. and Canadian transit represents substantial market opportunity for Carmanah. In April 2004, the U.S. government passed its TEA 21 reauthorization bill providing $51.5 billion in guaranteed transit funding over six years.
For more information about Carmanah's lighting solutions for public transit, visit www.transitlights.com.
Carmanah is an award winning alternative energy manufacturer specializing in patented solar-powered LED lighting solutions for the transit, marine, aviation, roadway, railway and industrial worksite markets. The Company currently has more than 90,000 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 more information, please visit www.carmanah.com.
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 Carmanah's Annual Report for the fiscal year ended December 31, 2003, 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 Carmanah's Annual Information Form dated December 31, 2003, as filed with the British Columbia Securities Commission and which are incorporated herein by reference. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.