Effective October 21, 2010, Shea will take over from current CEO, Vern Heinrichs’ who is retiring from the position which he has held since 2009. Heinrichs will also step down as a director of ARISE and Shea will be nominated as his replacement. Heinrichs has agreed to continue to serve as a consultant to ARISE for a three-month period.

“We are delighted to have Daniel Shea join us as the new CEO of ARISE,” said Peter Harder, Chairman of ARISE. “Daniel is a seasoned technology industry executive who has held senior leadership positions at several leading technology firms. He has a clear vision of what is necessary to drive ARISE’s ongoing growth and success and ensure that the Company continues its emergence as a market leader in the PV solar sector.”

“On behalf of the Board of Directors, I would like to thank Vern Heinrichs for his many contributions as CEO of ARISE during a very challenging period in the Company’s history,” added Harder. “Under his leadership, ARISE was able to withstand the impacts of the global economic downturn and emerge a stronger, more focused organization. Vern has also made valuable contributions at the Board level, both in his current role as a director and in his previous position as Chairman of ARISE. We look forward to continuing to work with Vern over the next three months and wish him all the best in his future endeavours.”

Shea has more than 30 years of broad experience in the technology industry and most recently was Senior Vice President at Research in Motion. Prior to that, Shea spent 27 years at Celestica/IBM in progressively senior management positions. His roles included Chief Technology Officer, Senior Vice President/Account General Manager and President of the Power Systems Division.

Shea is a professional engineer, holds a B.A.S.C. in Electrical Engineering from the University of Toronto and currently serves as an advisor to a number of organizations including the University of Toronto’s Engineering Dean’s Advisory Board.

“I’m very pleased to be joining ARISE at such an exciting time,” said Shea. “The company and its products have developed a tremendous reputation for quality and efficiency. This is a testament to the hard work and dedication of the committed team at ARISE. I look forward to working closely with them to continue to provide premium products and service to customers in our core markets of Europe and Ontario, while seeking innovative opportunities to market and distribute our products on an international scale.”