Kanadas Solarwert No. 1: Carmanah - 500 Beiträge pro Seite

[EasyTech]

CARMANAH ANNOUNCES RELEASE DATE FOR Q1 2006 FINANCIAL RESULTS AS WELL AS CONFERENCE CALL

Victoria, British Columbia CANADA, May 03, 2006 /FSC/ - Carmanah Technologies Inc. (CMH - TSX, QCX - FWB), expects to release its financial results for March 31, 2006 Q1 on Thursday, May 4, 2006 at 4:00 PM EDT (1:00 PM PDT).

Subsequently, a conference call will be held on Thursday, May 4, 2006 at 4:45 PM EDT (1:45 PM PDT) to discuss the Q1 2006 results. To participate on the conference call, in North America please call toll-free 1-877-583-3852 approximately five to ten minutes prior to the start time. For international participants, please dial [phone]. When prompted for the conference ID, please enter 8837252. This conference call will also be recorded and subsequently accessible on Carmanah's website.

Carmanah's Annual General Meeting and Following Tour of New Production Facility

Carmanah will hold its 2006 Annual General Meeting on Thursday, May 25, 2006 at 10:00 AM PDT at the Delta Victoria Ocean Pointe Resort, 45 Songhees Road, Victoria, BC, Canada. Should you wish to attend, please RSVP by e-mail at [e-mail]. We would also be pleased to answer any inquiries regarding flights or hotels.

This year we are also providing tours of Carmanah's new production facility on Enterprise Crescent following the Annual General Meeting at approximately 12:30 PM PDT. If you wish to participate in a tour, please confirm at [e-mail].

Upcoming Speaking Engagements

Carmanah's President & CEO, Art Aylesworth, will be presenting at the Sprott Securities Mid-Cap Growth Conference in Toronto, ON, on May 11, 2006, at 10:30 AM EDT.

Mr. Aylesworth, will also be presenting at the Jefferies Alternative Energy & Cleantech Conference in New York, NY, on May 16, 2006. Mr. Aylesworth's presentation will be broadcast live via webcast at approximately 2:40 PM EDT (11:40 PM PDT). Instructions for accessing this webcast will be available on Carmanah's web site (www.carmanah.com) on the day of the presentation.

About Carmanah Technologies Corporation

Carmanah is an award-winning manufacturer specializing in renewable and energy-efficient technology solutions. The Company is currently focused on three technology groups: solar power systems & equipment, solar-powered LED lighting and LED illuminated signage.

Carmanah is headquartered in Victoria, British Columbia, Canada and has branch offices and/or sales representation in 11 cities across Canada, the United States and the United Kingdom. With more than 250,000 installations worldwide, Carmanah is one of the world's premier suppliers of energy-efficient products.



The shares of Carmanah Technologies Corporation are publicly traded on the Toronto Stock 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.

On Behalf of the Board of Directors,
Carmanah Technologies Corporation

" Praveen Varshney "

Praveen Varshney, Director


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, 2005, as filed with the U.S. Securities and Exchange 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.


For further information, please contact:

Investor Relations:
Mr. Mark Komonoski, Director
Investor Relations
Tel: [phone]
Toll-Free: 1-877-255-8483
[e-mail]

Media:
Mr. David Davies
Tel: [phone]
[e-mail]



C H A N G E T H E W O R L D W I T H U S (tm)

Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2
Phone [phone]
Toll Free 1-800-665-3749
Fax [phone]
E-mail: [e-mail]



Maximum News Dissemination by Filing Services Canada Inc.
Ph: [phone] Fx: [phone] www.usetdas.com

[EasyTech]

http://www.carmanah.com

[MFC500]

Ist aber auch nicht gerade ein Schnäppchen. Marktkapitalisierung 136 Mio, bei einem Überschuß im 3.Quartal von 222 T bzw 873 T für den 9-Monatszeitraum. Obendrein ist die Umsatzrendite äußerst gering

[EasyTech]

ontario hat vor kurzem ein dem deutschen eeg-ähnliches programm eingeführt. ich denke, dass carmanah davon am meisten profitieren kann.

The details of Ontario's new standard offer program were released this morning, confirming what the Toronto Star already reported last week -- the province will pay 42 cents per kilowatt-hour for solar-produced electricity and 11 cents for wind, biomass and run-of-the-river hydro power for projects under 10 megawatts.

We knew this was coming. I first wrote about the government's intention last August, and many people have been waiting anxiously for the details to be hammered out. I was out covering this story for the paper today and am just now, after catching my breath, getting a chance to post something here. Gotta say I'm proud of my government, of certain hard-working staff at the Ministry of Energy and the renewables community, of Energy Minister Donna Cansfield, for pushing through what is being called the most ambitious, progressive and important renewables program in North America.

Wind-energy expert Paul Gipe, who as acting executive director of the Ontario Sustainable Energy Association last year helped push through the program, called it an "historic" day for Canada. "This is the most progressive renewable energy policy in North America," he told me today.

As expected, contracts will be 20 years in length. The government said it hopes to see up to 1,000 megawatts of new clean power generation come online over the next 10 years as a result of the program, but that figure could be much higher since there has been no limits placed on growth. Of interest is that renewable energy systems already installed since Jan. 1, 2000, could qualify for the program -- a welcome surprise for many people who have already invested the upfront capital without any expectation of higher return.

Across the country environmentalists, clean-energy companies and industry associations applauded the program.

* Mossadiq Umedaly, chairman of Burnaby, B.C.-based power electronics leader Xantrex Technology Inc., said the program will have a "significant impact on the solar and wind market for years to come" and will "stimulate significant investment in the renewable power sector in Ontario and Canada."

* "Standard offer contracts will diversify Ontario's emerging wind energy industry and will provide a mechanism through which farmers, municipalities and community organizations can develop clean wind energy projects," said Robert Hornung, president of the Canadian Wind Energy Association, which said Ontario is "setting an excellent example" for other jurisdictions.

* "Ontario's move is good news for Canada," said Michael Carten, president and CEO of Sustainable Energy Technology of Calgary. "We work in markets like Germany, Spain and Italy, which have over the past several years implemented standard offer contracts. As a result, those markets are booming. Thousands of megawatts have been installed, and thousands of jobs have been created."

* Rob McMonagle, executive director of the Canadian Solar Industries Association, said "Ontario is now investing in building a world leading solar industry based in Ontario." CanSIA predicted that 15,000 new solar systems amounting to 40 megawatts would result from the program in its first five years. By 2025 it predicts 3,000 megawatts of installed solar capacity in Ontario and the creation of 40,000 jobs, compared to a few hundred today.

* Melinda Zytaruk, general manager of the Ontario Sustainable Energy Association, called it a "striking policy" while executive director Deborah Doncaster said it will encourage locally owned and developed "community power."

* David Robertson, president of the Toronto Renewable Energy Co-Operative (TREC), said the program will "kickstart numerous projects throughout the province."

Perhaps the biggest endorsement came from environmentalist David Suzuki, who was on hand with Ontario Premier Dalton McGuinty and Minister Cansfield to make the announcement. They chose the manufacturing facility of Cambridge, Ont.-based Spheral Solar Power (now Photowatt Technologies) to formally unveil the program. Suzuki, who celebrates his 70th birthday this Friday and doesn't look a day over 55, called it a "very significant shift" in government policy that bodes well for the future.

"I congratulate our government," he said. "You've now joined what is the fastest growing energy sector in the world. You're going to join some of the leading countries like Denmark and Germany. I think you're going to force the rest of this continent to follow suit."

Suzuki said it was nice to see a government looking beyond the short term and the quick fix. "It's not an accident that megaprojects are favoured by our political process, because they give the illusion of attempts to deal with problems and create jobs in the short term. The problem is in that equation children don't vote. Future generations don't even exist, so too often they're left out of the political equation. What I see today is a remarkable shift, a policy that sets us on a course, whether or not the premier or the minister of environment (and energy) are still here... this is more than just about the next election."

He said farmers and small communities will benefit substantially. "It means an individual farmer can go to the bank and say, look, this is what government is offering... there are a number of banks now saying come to us with a proposal, we'll give you loans on that. So I think this is an enormous opportunity... farmers are going to be able to harvest two crops now. The one they get from the ground and the other from the wind."

In fact, Premier McGuinty emphasized the opportunity for farmers, who could easily use or lease out their land for wind turbines. "You've got a farm income challenge? You've got land? We need clean electricity," said McGuinty. "Let's make a deal. Forget that big, lengthy complicated process we have for bigger projects."

There's no doubt about it. While widely expected, this is big news and will hopefully trigger similar announcements across Canada and the United States. That said, I personally don't think -- on the solar front -- this is going to appeal to the average homeowner. It would be nice to see rebates for home systems, or at least see the federal government eliminate tax on equipment and installation, or offer some kind of tax incentive until prices begin to fall.

I'd also like to see a major program that supports the use of geothermal and solar thermal technologies as a replacement for natural gas, oil or electricity for heating. (But more on that later). I'll be happy if you've read this far.

[EasyTech]

Antwort auf Beitrag Nr.: 21.425.020 von MFC500 am 04.05.06 08:21:17

es handelt sich hierbei auch nicht um eine solarklitsche.
der ralativ geringe gewinn ist nur vorübergehend, da in den letzten quartalen wurden enorm investiert wurde.

[EasyTech]

wenn jemand solarraketen bzw. werte sucht, die man eventuell pushen kann, sollte man sich diese hier anschauen:

CA8693241033
CA04040Q1063

[EasyTech]

Antwort auf Beitrag Nr.: 21.427.437 von EasyTech am 04.05.06 11:26:54

bezüglich investitionen:

Grand Opening: Carmanah Technologies Global Production Facility

VICTORIA, BC, April 10 /CNW/ - Canada's largest solar company, Victoria-
based Carmanah Technologies, will unveil its new state-of-the-art, 30,000 sq.
ft. global production facility on Thursday, April 13.

What: Media availability, tour, interview and photo opportunities

Who: The Honourable Gary Lunn, Federal Minister of Natural Resources
Art Aylesworth, CEO, Carmanah Technologies Corp.
Frank Leonard, Mayor of Saanich

Where: Carmanah Technologies Global Production Facility
Suite 300 - 770 Enterprise Crescent, Victoria, BC

When: Thursday, April 13, 2006, 11:00 a.m.

For more information about Carmanah Technologies please visit
www.carmanah.com



For further information: David Davies, [e-mail],
[phone]

[EasyTech]

Antwort auf Beitrag Nr.: 21.425.020 von MFC500 am 04.05.06 08:21:17

die zahlen dürften dir jetzt aber besser gefallen.

CARMANAH ANNOUNCES FINANCIAL RESULTS FOR Q1 2006

Victoria, British Columbia CANADA, May 04, 2006 /FSC/ - Carmanah Technologies Inc. (CMH - TSX, QCX - FWB), is pleased to announce its first quarter results for the three months ended March 31, 2006 and 2005.

Highlights for the quarter:

* Record Q1 2006 revenues of $12,693,769, representing a 161% increase over 2005
* Record Q1 2006 orders booked of $14,010,463
* Record order backlog at the end of Q1 in the amount of $6,060,973
* Q1 2006 gross margins at 35%, compared to 31% for Q4 2005
* Q1 2006 EBITA in the amount of $128,249
* Q1 2006 net earnings (loss) in the amount of $(23,290)
* Completion of 28,000 square foot manufacturing and warehousing facility expansion in Victoria, BC

Summary of Results

Carmanah's performance in the first quarter of 2006 was as per management's expectations. Fiscal 2006 is the first fully-integrated year after last summer's acquisition of Soltek Powersource Ltd. ("SPS"). Carmanah management continues to focus on aggressive organic growth, positively-trending gross margins, operational expense discipline and continued profitability. The Company's Q1 2006 results demonstrate early success for each of the above objectives.

"We are very pleased with Carmanah's current sales momentum," states Art Aylesworth, Carmanah's CEO. "In Q1 2006, the Company booked a record $14 million in orders, which demonstrates continued strength in organic growth. The loss of three weeks manufacturing time impacted invoiced sales during the quarter, but our manufacturing facility expansion is complete and the resulting improvements to capacity and efficiency will provide measurable benefits in the quarters and years ahead."

Q1 2006 gross margins made a strong recovery over Q4 2005 and management is committed to the continuation of this trend.

In Q1 2006, another milestone in Carmanah's evolution was achieved as the Company graduated from the TSX Venture Exchange to the TSX Toronto Stock Exchange. It is anticipated that this move and the related non-recurring expense of $117,000 will broaden the potential institutional shareholder base and introduce Carmanah to a wider audience.

"Q1 2006 is encouraging in terms of future outlook," states Aylesworth. "We remain confident that we will achieve our profitability objectives for fiscal 2006."

Overview of Operations

The growth in Carmanah's operations, both organically and through acquisition, has resulted in a broadening of the Company's business activities to include the design, manufacture and/or distribution of three technology groups: solar-powered LED lighting, solar power systems and LED-illuminated signage.

Carmanah's Solar LED Lighting Group provides a variety of energy-efficient LED lighting products for marine, aviation, transit, roadway and industrial worksite applications. The Company's Solar Power Systems Group offers a wide range of renewable energy system solutions for industrial, residential and recreational power applications. The LED Sign Group designs and manufactures energy-efficient LED edge-lit signs for corporate identity, point-of-purchase and architectural applications.

Carmanah's headquarters and primary manufacturing and distribution facilities are located in Victoria, British Columbia, Canada. The Company also operates additional manufacturing and distribution facilities in Calgary, Alberta, Canada, as well as regional distribution and sub-assembly facilities in Barrie, ON; Santa Cruz, CA; and London, England.

Carmanah currently has more than 250,000 installations in 110 countries. Carmanah's customer list includes a wide range of government, commercial and private users worldwide, who are serviced directly by the Company or one of its regional authorized distributors and/or sales agents.

Results of Operations

Sales

Carmanah's total revenues for the three months ended March 31, 2006 were $12,693,769, representing a 161% increase over the same period in 2005 at $4,849,542.

Contributions from the Solar LED Lighting Group were $5,327,000 in Q1 2006, representing an increase of $1,883,819 (55%) over Q1 2005 at $3,443,181. Sales momentum for the Solar LED Group continued, with orders booked in the quarter in excess of $5,856,466, resulting in a record backlog of $3,498,084. Deliveries in Q1 2006 were significantly impacted by a three-week disruption to manufacturing and shipping while equipment was relocated, reconstructed and tested at the Company's new production facility. Contributions from the Power Systems Group, acquired in July, 2005, amounted to $6,321,065 in Q1 2006; this group has no comparatives to Q1 2005. Deliveries for this Group were also impacted by the relocation of the manufacturing and warehousing facilities in Victoria. The Power Systems Group ended Q1 2006 with a sales order backlog of $1,732,440.

Contributions from the LED Sign Group were $896,054 in sales for Q1 2006, compared to $1,406,361 for Q1 2005. A significant portion of revenues achieved by this Group are through larger orders, and therefore quarter-over-quarter results may vary significantly. Management remains comfortable with the 2006 budgeted revenues for this Group. The LED Sign Group ended Q1 2005 with a sales order backlog of $830,449.

A summary of contributions from each of Carmanah's technology groups is as follows:

--------------------------------------------------------------------------------
Segmented Sales Summary Three months ended March 31,
2006 2005
--------------------------------------------------------------------------------
Solar LED Lighting Group $ 5,327,000 $ 3,443,181

Solar Power Systems Group $ 6,321,065 $ -

LED Sign Group $ 896,054 $ 1,406,361

Other income $ 149,650 $ -
================================================================================
$ 12,693,769 $ 4,849,542
--------------------------------------------------------------------------------

Cost of Sales and Gross Profit Margin

Carmanah's cost of sales for the Q1 2006 was $8,224,212 (65% of sales), resulting in a gross profit margin of 35%, trending upward from 31% in Q4 2005. When compared on a year-over-year basis, prior to the acquisition of SPS, the gross profit margin was 52%. The shift in Carmanah's gross margin is primarily due to the contribution by the Solar Power Systems Group during Q1 2006 ($6,321,065 at 27% gross margin), which has no comparatives for Q1 2005.


Carmanah offers product solutions to a variety of market sectors at various gross profit margins. The gross profit margin is significantly affected by the ratio of sales contributed by the various technological groups, by the product mix sold, as well as the related market sector.

Wages and Benefits

As a percentage of revenue, wages and administration expenses for the three months ended March 31, 2006 were 20%, compared to 21% for the same period in 2005. Management is committed to and anticipates wages and benefits will continue to decline as a percentage of revenue in the quarters ahead.

Wage and benefit expenses for Q1 2006 increased 150% to $2,579,968, compared with $1,030,499 for Q1 2005. This increase is due to $977,160 in additional wage expenses resulting from the acquisition of the Solar Power Systems Group and $344,166 in additional sales, marketing, finance and administrative staff in support of overall sales growth.

In Q1 2006, stock-based compensation expenses amounted to $203,328 compared to $62,775 for Q1 2005.

Office and Administration

As a percentage of revenue, office and administration expenses for Q1 2006 were 6%, compared to 9% for Q1 2005.

Office and administration expenses in Q1 2006 were $809,519, representing an 80% increase over Q1 2005 of $450,890. The acquisition of the Solar Power Systems Group in July 2005, which has no comparatives in Q1 2005, contributed to this increase with the additional costs of its four sub-assembly and warehouse operations (Victoria, BC, Calgary, AB, Barrie, ON, and Santa Cruz, CA).

Additional office and administration expenses were incurred with the expansion into Carmanah's new 28,000 square foot warehouse facility, as well as the associated increase in overall office, administration and information technology expenses.

The Company also saw a one-time expense in the amount of $117,000 to transfer its listing from the TSX Venture Exchange to the TSX Toronto Stock Exchange in Q1 2006.

Sales and Marketing

As a percentage of revenue, sales and marketing expenses for Q1 2006 were 4% compared to 7% for Q1 2005.

Sales and marketing expenses for Q1 2006 were $525,295, representing a 47% increase over Q1 2005 of $357,625. The Company continued to increase sales and marketing activities for new and existing product lines throughout its worldwide marketplace and is expanding its sales and marketing efforts to include the Power Systems Group's customers and verticals.

The Company attended 31 tradeshows and industry conferences in Q1 2006, compared with 19 similar events in Q1 2005.

Research and Development

As a percentage of revenue, gross research and development expenses for Q1 2006 were 5%, compared to 7% for Q1 2005.

During Q1 2006, gross research and development expenses were $552,267, compared to $363,225 for Q1 2005. In Q1 2006, Carmanah reduced its gross research and development expenses by applying $200,148 in SR&ED investment tax credits, resulting in net research and development expenses of $352,119. Carmanah will continue to aggressively invest in research and development devoted to new product development, cost reduction initiatives and existing product enhancements.


Income Tax

Income tax expense for Q1 2006 totaled $48,951. This amount is comprised of current tax expense of $219,219 and future income tax recovery of $170,268. The current tax expense relates to taxable income generated by Carmanah in the normal course of operations. Current tax expense as a percentage of pre-tax earnings is high, as Carmanah chose to postpone certain tax deductions to use investment tax credits that offset taxes otherwise payable. The future income tax recovery of $170,268 recognizes the availability of future tax deductions and was increased by $38,768, as a result of the utilization of tax losses previously assumed to have expired.

Earnings

Earnings before interest, taxes and amortization (EBITA) for Q1 2006 were $128,249, compared to $306,572 for Q1 2005.

Net earnings (loss) for Q1 2006 were $(23,290) compared with $263,422 for Q1 2005. The loss for the period was the result of:

* lower orders delivered due to production and shipping down time during the relocation to the new manufacturing facility;
* a stock-based compensation expense of $203,328;
* an expense of $117,000 related to Carmanah's graduation to the TSX Toronto Stock Exchange.

Balance Sheet Highlights

Carmanah's cash, cash equivalents, and short-term investments at Q1 2006 were $7,741,543, compared to $11,662,214 for Q4 2005. Net cash usage from operations was $3,669,314 for Q1 2006. The Company invested in its inventory levels in support of increased sales forecasts, particularly in areas of solar panel supply.

Carmanah invested $593,273 in leasehold improvements and equipment during Q1 2006, with the majority of this investment being attributed to setup and completion of the Company's new production and warehousing facility.
Net working capital as at March 31, 2006 was $26,210,185 with a current ratio of 4:1 and $14,444 of non-current lease obligations.

Subsequent Events

Subsequent to the end of Q1 2006, Carmanah issued final payment to the vendors of SPS. Pursuant to the terms of the share purchase agreement, the SPS vendors were entitled to an additional payment in the form of shares and warrants if SPS met certain performance criteria by December 31, 2005. The performance criteria were met, and accordingly, the obligation in the amount of $2,631,580 to the SPS shareholders was accrued for by the Company at December 31, 2005. The Company is issuing 751,876 shares to the SPS shareholders and the 300,000 warrants now eligible for exercise as per the terms of the agreement.

About Carmanah Technologies Corporation

Carmanah is an award-winning manufacturer specializing in renewable and energy-efficient technology solutions. The Company is currently focused on three technology groups: solar power systems & equipment, solar-powered LED lighting and LED illuminated signage.

Carmanah is headquartered in Victoria, British Columbia, Canada and has branch offices and/or sales representation in 11 cities across Canada, the United States and the United Kingdom. With more than 250,000 installations worldwide, Carmanah is one of the world's premier suppliers of energy-efficient products.
The shares of Carmanah Technologies Corporation are publicly traded on the Toronto Stock 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.


On Behalf of the Board of Directors,
Carmanah Technologies Corporation

" Praveen Varshney "

Praveen Varshney, Director


For further information, please contact:

Investor Relations:
Mr. Mark Komonoski, Director
Investor Relations
Tel: [phone]
Toll-Free: 1-877-255-8483
[e-mail]

Media:
Mr. David Davies
Tel: [phone]
[e-mail]


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, 2005, as filed with the U.S. Securities and Exchange 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.


CARMANAH TECHNOLOGIES CORPORATION
Consolidated Balance Sheets
(Expressed in Canadian dollars)

March 31, 2006 and 2005
(Unaudited - Prepared by Management)
--------------------------------------------------------------------------------
2006 2005
--------------------------------------------------------------------------------

Assets

Current assets:
Cash and cash equivalents $ 1,511,543 $ 1,882,214
Short-term investments 6,230,000 9,780,000
Accounts receivable, net 10,293,540 8,675,270
Inventories 14,406,832 11,012,640
Prepaid expenses and deposits 2,178,096 705,073
--------------------------------------------------------------------------------
34,620,011 32,055,197

Equipment and leasehold improvements, net 2,567,322 2,096,254
Intangible assets, net 1,275,030 1,325,055
Goodwill 12,330,543 12,330,543
Future income taxes 1,127,660 985,500

--------------------------------------------------------------------------------
$ 51,920,566 $ 48,792,549
--------------------------------------------------------------------------------


Liabilities and Shareholders' Equity

Current liabilities:
Accounts payable and
accrued liabilities $ 8,148,018 $ 5,268,246
Bank loan 97,749 -
Income taxes payable 156,871 434,636
Current portion of obligations
under capital leases 12,966 19,990
--------------------------------------------------------------------------------
8,415,604 5,722,872

Obligations under capital leases 14,444 14,991
Obligation to former shareholders
of SPS to be settled in shares 2,631,580 2,631,580
--------------------------------------------------------------------------------
11,061,628 8,369,443

Shareholders' equity:
Share capital 39,054,596 38,772,138
Contributed surplus 1,469,054 1,292,390
Retained earnings 335,288 358,578
--------------------------------------------------------------------------------
40,858,938 40,423,106

--------------------------------------------------------------------------------

$ 51,920,566 $ 48,792,549
--------------------------------------------------------------------------------



CARMANAH TECHNOLOGIES CORPORATION
Consolidated Statements of Operations and Retained Earnings (Deficit)
(Expressed in Canadian dollars)

For the three months ended March 31, 2006 and 2005
(Unaudited - Prepared by Management)
--------------------------------------------------------------------------------
2006 2005
--------------------------------------------------------------------------------
Sales $ 12,693,769 $ 4,849,542
Cost of sales 8,224,212 2,322,113
--------------------------------------------------------------------------------
4,469,557 2,527,429
Operating expenses:
Wages and benefits 2,579,968 1,030,499
Office and administration 809,519 450,890
Sales and marketing 525,295 357,625
Research and development 352,119 363,225
Bank charges 74,407 18,618
Amortization of:
Equipment and leasehold improvements 122,205 74,691
Intangible assets 59,859 10,869
--------------------------------------------------------------------------------
4,523,372 2,306,417
--------------------------------------------------------------------------------
Operating income (loss) (53,815) 221,012

Other income:
Interest and other income 79,476 42,410

--------------------------------------------------------------------------------
Earnings before income taxes 25,661 263,422

Income tax expense (recovery)
Current 219,219 114,000
Future (170,268) (114,000)
--------------------------------------------------------------------------------
48,951 -
--------------------------------------------------------------------------------
Net earnings (loss) for the period (23,290) 263,422

Retained earnings (deficit),
beginning of period 358,578 (322,384)
--------------------------------------------------------------------------------

Retained earnings (deficit),
end of period $ 335,288 $ (58,962)
--------------------------------------------------------------------------------

Earnings (loss) per share:
Basic $ (0.001) $ 0.008
Diluted (0.001) 0.008
--------------------------------------------------------------------------------

Weighted average number of shares outstanding:
Basic 40,528,173 32,239,501
Diluted 40,528,173 34,202,496
--------------------------------------------------------------------------------



CARMANAH TECHNOLOGIES CORPORATION
Consolidated Statements of Cash Flows
(Expressed in Canadian dollars)

For the three months ended March 31, 2006 and 2005
(Unaudited - Prepared by Management)
--------------------------------------------------------------------------------
2006 2005
--------------------------------------------------------------------------------
Cash provided by (used in):
Operations:
Net earnings (loss) for the period $ (23,290) $ 263,422
Items not involving cash:
Amortization 182,064 85,560
Reclassification of previously
recorded share issuance costs 117,000 -
Stock-based compensation 203,328 62,775
Future income taxes (recovery) (170,268) -
Net changes in non-cash working capital (3,883,478) (255,797)
--------------------------------------------------------------------------------
(3,574,644) 173,416
--------------------------------------------------------------------------------

Investing:
Short-term investments 3,550,000 -
Purchase of equipment and leasehold
Improvements (593,242) (214,273)
Purchase of intangible assets (9,834) (20,201)
--------------------------------------------------------------------------------
2,946,924 (234,474)
Financing:
Proceeds on share issuance 201,794 1,085,620
Share issuance costs (34,923) -
Bank loan 97,749 -
Principal payments of obligations
under capital leases (7,571) (6,311)
--------------------------------------------------------------------------------
257,049 1,079,309
--------------------------------------------------------------------------------
Increase (decrease) in cash and
cash equivalents (370,671) 1,018,251
Cash and cash equivalents,
beginning of period 1,882,214 901,411
--------------------------------------------------------------------------------
Cash and cash equivalents,
end of period $ 1,511,543 $ 1,919,662
--------------------------------------------------------------------------------
Supplemental cash flow information:
Cash during the period for:
Bank charges and interest paid $ 21,495 $ 491
Income taxes paid 300,000 -
Non-cash investing and financing activities:
Shares/stock options issued for services:
Share issue costs - 38,198
--------------------------------------------------------------------------------



C H A N G E T H E W O R L D W I T H U S (tm)

Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2
Phone [phone] Toll Free 1-800-665-3749
Fax [phone] E-mail: [e-mail]



Maximum News Dissemination by Filing Services Canada Inc.
Ph: [phone] Fx: [phone] www.usetdas.com

[EasyTech]

Canada. Carmanah announces quarter 1 06 revenue increase of 161% over quarter 1 05 PDF Print E-mail
Tuesday, 09 May 2006
Company news:


Carmanah Technologies Corporation (TSX: CMH) is pleased to announce its first quarter results for the three months ended March 31, 2006 and 2005.

Carmanah's performance in the first quarter of 2006 was as per management's expectations. Fiscal 2006 is the first fully-integrated year after last summer's acquisition of Soltek Powersource Ltd. ("SPS"). Carmanah management continues to focus on aggressive organic growth, positively-trending gross margins, operational expense discipline and continued profitability. The Company's Q1 2006 results demonstrate early success for each of the above objectives.

"We are very pleased with Carmanah's current sales momentum", states Art Aylesworth, Carmanah's CEO. "In Q1 2006, the Company booked a record $14 million in orders, which demonstrates continued strength in organic growth. The loss of three weeks manufacturing time impacted invoiced sales during the quarter, but our manufacturing facility expansion is complete and the resulting improvements to capacity and efficiency will provide measurable benefits in the quarters and years ahead."

Q1 2006 gross margins made a strong recovery over Q4 2005 and management is committed to the continuation of this trend. In Q1 2006, another milestone in Carmanah's evolution was achieved as the Company graduated from the TSX Venture Exchange to the TSX Toronto Stock Exchange. It is anticipated that this move and the related non-recurring expense of $117,000 will broaden the potential institutional shareholder base and introduce Carmanah to a wider audience.

"Q1 2006 is encouraging in terms of future outlook," states Aylesworth. "We remain confident that we will achieve our profitability objectives for fiscal 2006."

Overview of operations:

The growth in Carmanah's operations, both organically and through acquisition, has resulted in a broadening of the Company's business activities to include the design, manufacture and/or distribution of three technology groups: solar-powered LED lighting, solar power systems and LED-illuminated signage.

Carmanah's Solar LED Lighting Group provides a variety of energy-efficient LED lighting products for marine, aviation, transit, roadway and industrial worksite applications. The Company's Solar Power Systems Group offers a wide range of renewable energy system solutions for industrial, residential and recreational power applications. The LED Sign Group designs and manufactures energy-efficient LED edge-lit signs for corporate identity, point-of-purchase and architectural applications.

Carmanah's headquarters and primary manufacturing and distribution facilities are located in Victoria, British Columbia, Canada. The Company also operates additional manufacturing and distribution facilities in Calgary, Alberta, Canada, as well as regional distribution and sub-assembly facilities in Barrie, ON; Santa Cruz, CA; and London, England.

Carmanah currently has more than 250,000 installations in 110 countries. Carmanah's customer list includes a wide range of government, commercial and private users worldwide, who are serviced directly by the Company or one of its regional authorized distributors and/or sales agents.

Results of operations:

Sales

Carmanah's total revenues for the three months ended March 31, 2006 were $12,693,769, representing a 161% increase over the same period in 2005 at $4,849,542.

Contributions from the Solar LED Lighting Group were $5,327,000 in Q1 2006, representing an increase of $1,883,819 (55%) over Q1 2005 at $3,443,181. Sales momentum for the Solar LED Group continued, with orders booked in the quarter in excess of $5,856,466, resulting in a record backlog of $3,498,084. Deliveries in Q1 2006 were significantly impacted by a three-week disruption to manufacturing and shipping while equipment was relocated, reconstructed and tested at the Company's new production facility. Contributions from the Power Systems Group, acquired in July, 2005, amounted to $6,321,065 in Q1 2006; this group has no comparatives to Q1 2005. Deliveries for this Group were also impacted by the relocation of the manufacturing and warehousing facilities in Victoria. The Power Systems Group ended Q1 2006 with a sales order backlog of $1,732,440.

Contributions from the LED Sign Group were $896,054 in sales for Q1 2006, compared to $1,406,361 for Q1 2005. A significant portion of revenues achieved by this Group are through larger orders, and therefore quarter-over-quarter results may vary significantly.

Management remains comfortable with the 2006 budgeted revenues for this Group. The LED Sign Group ended Q1 2005 with a sales order backlog of $830,449.

Cost of Sales and Gross Profit Margin

Carmanah's cost of sales for the Q1 2006 was $8,224,212 (65% of sales), resulting in a gross profit margin of 35%, trending upward from 31% in Q4 2005. When compared on a year-over-year basis, prior to the acquisition of SPS, the gross profit margin was 52%. The shift in Carmanah's gross margin is primarily due to the contribution by the Solar Power Systems Group during Q1 2006 ($6,321,065 at 27% gross margin) which has no comparatives for Q1 2005.

Carmanah offers product solutions to a variety of market sectors at various gross profit margins. The gross profit margin is significantly affected by the ratio of sales contributed by the various technological groups, by the product mix sold, as well as the related market sector.

Wages and Benefits

As a percentage of revenue, wages and administration expenses for the three months ended March 31, 2006 were 20%, compared to 21% for the same period in 2005. Management is committed to and anticipates wages and benefits will continue to decline as a percentage of revenue in the quarters ahead.

Wage and benefit expenses for Q1 2006 increased 150% to $2,579,968, compared with $1,030,499 for Q1 2005. This increase is due to $977,160 in additional wage expenses resulting from the acquisition of the Solar Power Systems Group and $344,166 in additional sales, marketing, finance and administrative staff in support of overall sales growth.

In Q1 2006, stock-based compensation expenses amounted to $203,328 compared to $62,775 for Q1 2005.

Office and Administration

As a percentage of revenue, office and administration expenses for Q1 2006 were 6%, compared to 9% for Q1 2005.

Office and administration expenses in Q1 2006 were $809,519, representing an 80% increase over Q1 2005 of $450,890. The acquisition of the Solar Power Systems Group in July 2005, which has no comparatives in Q1 2005, contributed to this increase with the additional costs of its four sub-assembly and warehouse operations (Victoria, BC, Calgary, AB, Barrie, ON, and Santa Cruz, CA).

Additional office and administration expenses were incurred with the expansion into Carmanah's new 28,000 square foot warehouse facility, as well as the associated increase in overall office, administration and information technology expenses.

The Company also saw a one-time expense in the amount of $117,000 to transfer its listing from the TSX Venture Exchange to the TSX Toronto Stock Exchange in Q1 2006.

Sales and Marketing

As a percentage of revenue, sales and marketing expenses for Q1 2006 were 4% compared to 7% for Q1 2005.

Sales and marketing expenses for Q1 2006 were $525,295, representing a 47% increase over Q1 2005 of $357,625. The Company continued to increase sales and marketing activities for new and existing product lines throughout its worldwide marketplace and is expanding its sales and marketing efforts to include the Power Systems Group's customers and verticals.

The Company attended 31 tradeshows and industry conferences in Q1 2006, compared with 19 similar events in Q1 2005.

Research and Development

As a percentage of revenue, gross research and development expenses for Q1 2006 were 5%, compared to 7% for Q1 2005.

During Q1 2006, gross research and development expenses were $552,267, compared to $363,225 for Q1 2005. In Q1 2006, Carmanah reduced its gross research and development expenses by applying $200,148 in SR&ED investment tax credits, resulting in net research and development expenses of $352,119. Carmanah will continue to aggressively invest in research and development devoted to new product development, cost reduction initiatives and existing product enhancements.

Income Tax

Income tax expense for Q1 2006 totaled $48,951. This amount is comprised of current tax expense of $219,219 and future income tax recovery of $170,268. The current tax expense relates to taxable income generated by Carmanah in the normal course of operations.

Current tax expense as a percentage of pre-tax earnings is high, as Carmanah chose to postpone certain tax deductions to use investment tax credits that offset taxes otherwise payable. The future income tax recovery of $170,268 recognizes the availability of future tax deductions and was increased by $38,768, as a result of the utilization of tax losses previously assumed to have expired.

Earnings

Earnings before interest, taxes and amortization (EBITA) for Q1 2006 were $128,249, compared to $306,572 for Q1 2005.

Net earnings (loss) for Q1 2006 were $(23,290) compared with $263,422 for Q1 2005. The loss for the period was the result of: lower orders delivered due to production and shipping down time during the relocation to the new manufacturing facility; a stock-based compensation expense of $203,328; an expense of $117,000 related to Carmanah's graduation to the TSX Toronto Stock Exchange.

Balance Sheet Highlights

Carmanah's cash, cash equivalents, and short-term investments at Q1

2006 were $7,741,543, compared to $11,662,214 for Q4 2005. Net cash usage from operations was $3,669,314 for Q1 2006. The Company invested in its inventory levels in support of increased sales forecasts, particularly in areas of solar panel supply.

Carmanah invested $593,273 in leasehold improvements and equipment during Q1 2006, with the majority of this investment being attributed to setup and completion of the Company's new production and warehousing facility.

Net working capital as at March 31, 2006 was $26,210,185 with a current ratio of 4:1 and $14,444 of non-current lease obligations.

Subsequent Events

Subsequent to the end of Q1 2006, Carmanah issued final payment to the vendors of SPS. Pursuant to the terms of the share purchase agreement, the SPS vendors were entitled to an additional payment in the form of shares and warrants if SPS met certain performance criteria by December 31, 2005. The performance criteria were met, and accordingly, the obligation in the amount of $2,631,580 to the SPS shareholders was accrued for by the Company at December 31, 2005.

The Company is issuing 751,876 shares to the SPS shareholders and the 300,000 warrants now eligible for exercise as per the terms of the agreement.
Last Updated ( Tuesday, 09 May 2006 )

[Drueberstehn_L8]

Antwort auf Beitrag Nr.: 21.427.234 von EasyTech am 04.05.06 11:13:16

@easytech Seh das, auch so. Ist natürlich verständlich das bei den zahlen einige Anleger in momentan attraktivere Werte gehen.

Finde man kann die Situation ein wenig mit Conergy im Moment vergleichen, die haben im ersten Quartal auch einen Verlust verbucht, sind meiner Meinung durch ihre verschiedenen Geschäftsfelder, sogar besser als Solarworld aufgestellt, denn die ist rein von der PV abhängig.

Werd mir glaub ich demnächst mal ein paar Carmanah nachlegen, denn die Kurse werden spätestens im nächsten Quartal wieder anziehen.

Dann hat auch meine Mutter nix mehr zu mäckeln.

Nice May

[gregoryus]

Carmanah ist weltklasse auch ohne Subventionen

[gregoryus]

@ easy tech

Hast Du inzwischen Deine Meinung zur versiko geändert?

[EasyTech]

Antwort auf Beitrag Nr.: 21.509.483 von gregoryus am 10.05.06 17:56:21

du bist scheinbar gut mit versiko gefahren.
andere werte sind in der zeit auch gut gelaufen.
mit veriko habe ich mich lange nicht mehr beschäftigt.
die leute dort sind mir nicht sympatisch. shareholder value wird nicht gross geschrieben bei versiko.
kann sein, dass ich was verpasse.....ich kann mich aber nicht mit jedem wert beschäftigen.

[EasyTech]

NEW YORK, May 10 /PRNewswire/ - Art Aylesworth, CEO of one of North
America's largest solar companies, Carmanah Technologies (TSX: CMH), will
present at the 2006 Jefferies Clean Tech & Alternative Energy Conference.
The 40-minute presentation will take place on Tuesday, May 16 at 2:40
pm ET at the St. Regis Hotel in New York.
An audio webcast - both live and replay - will be available at
http://www.jefferies.com
Mr. Aylesworth will be available for interviews in New York on May 15,
16, and 17.
About Carmanah Technologies Corporation:
Carmanah - one of North America's largest solar companies - is an award
- winning manufacturer specializing in renewable and energy-efficient
technology solutions. The company is currently focused on three technology
groups: solar power systems and equipment, solar-powered LED lighting, and
LED -illuminated signage. Carmanah is headquartered in Victoria, British
Columbia, Canada and has branch offices and/or sales representation in 11
cities across Canada, the United States, and the United Kingdom. With more
than 250,000 installations worldwide, Carmanah is one of the world's
premier suppliers of energy- efficient products. For more information,
visit http://www.carmanah.com
For further information and to arrange interviews, contact:
David Davies
[e-mail]
250.744.7415 (mobile)
250.382.4332 (direct)

[EasyTech]

Carmanah Receives $1.6 Million Purchase Order for Solar-Powered LED Bus Stop Lighting in London, England

VICTORIA, BC -- (MARKET WIRE) -- 05/15/2006 -- Carmanah Technologies Corporation (TSX: CMH) is pleased to announce that it has received a purchase order in the amount of $1.6 million from Trueform Engineering Ltd. of the United Kingdom for the supply of additional solar LED-illuminated bus stops. These units are scheduled for installation throughout the City of London, England, starting in early June 2006.

"Carmanah is pleased to continue to provide the solar lighting for London Buses' solar illuminated bus stop project," states Carmanah's CEO, Art Aylesworth. "Carmanah has been involved with this initiative since the early field trials in 2001, and we are proud to maintain our relationship with Trueform as a technology partner to London Buses."

The solar environment in London is very challenging and a good test of Carmanah's proprietary solar energy management systems. This order follows the September of 2005 order when Carmanah was selected for the provision of solar LED lighting and was awarded an initial rollout valued at $1.5 million.

"We are very pleased with the results of the installation of the initial 1000+ systems since September 2005, which were assembled and delivered via our new facilities in Crawley, England," states Richard Sowter, VP of European Operations.

About Trueform Engineering Ltd.

Trueform Engineering Ltd. specializes in passenger transport infrastructure services and products, subcontract fabrication, engineering, and finishing services in the United Kingdom. Trueform is widely regarded as the UK's leading transportation solution provider to the bus industry and maintains depots throughout the region. The company has major contracts in place with numerous government bodies, including an exclusive agreement for bus stop and shelter infrastructure with London Buses. For more information, visit http://www.trueform.co.uk.

About London Buses

London Buses is the division of Transport for London that manages all bus services in London, England. The organization plans routes, specifies service levels and monitors service quality. It is also responsible for bus stations, bus stops and other support services for the city. London Buses' network is one of the largest and most comprehensive urban transport systems in the world. Each weekday over 6,800 scheduled buses transport more than six million passengers over 700 different routes. For more information, visit http://www.tfl.gov.uk/buses.

About Carmanah Technologies Corporation

Carmanah is an award-winning manufacturer specializing in energy efficient technologies. The Company is currently focused on three technology groups: solar-powered LED lighting, solar power systems & equipment and LED illuminated signage.

Carmanah is headquartered in Victoria, British Columbia, Canada. Its United Kingdom is based in London, England, and the Company has additional branch offices and/or sales representation in 11 cities across Canada and the United States. With more than 250,000 installations worldwide, Carmanah is one of the world's premier suppliers of energy-efficient products.

The shares of Carmanah Technologies Corporation are publicly-traded on the TSX 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.

On Behalf of the Board of Directors,

Carmanah Technologies Corporation

"Praveen Varshney"

Praveen Varshney, Director

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, 2005, as filed with the U.S. Securities and Exchange 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.

[EasyTech]

JULY 26, 2006 - 20:28 ET

Carmanah Receives $2.6 Million Purchase Order for Wireless-Controlled Solar Led Airfield Lighting Systems in the Bahamas

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - July 26, 2006) - Carmanah Technologies Corporation (TSX VENTURE:CMH)(BERLIN:QCX)(FWB:QCX) is pleased to announce that it has received a supply purchase agreement in the amount of $2,603,650 from the Nassau Civil Aviation Authority (CAA) of the Bahamas for the supply of 16 of its wireless-controlled solar LED airfield lighting systems. These systems are scheduled for installation on remote islands throughout the Bahamas during October and November 2006.

"Carmanah originally provided the Bahamas' main international airport with temporary use solar LED runway edge lighting to land commercial airliners while the primary runway was undergoing airfield maintenance," states Carmanah's CEO, Art Aylesworth. "The installation proved very successful and we are pleased to now strengthen our relationship with the Nassau CAA by supplying reliable, cost-effective solar LED lighting solutions for its remote island VFR airports."

General aviation airports on the Bahamas' remote islands serve domestic and international tourist traffic, with planes typically limited to smaller jets. In addition, these airports are used for 24-hour medevac emergency operations. The majority of these airports do not currently have airfield lighting in place, and Nassau CAA required a lighting technology to improve nighttime air traffic safety cost-effectively. Electrical infrastructure on these islands is limited and sometimes undependable, therefore Carmanah's field-proven, reliable solar LED lighting was viewed as an ideal solution. In addition, Carmanah's solar-powered LED airfield lighting is easy to install without any disruption to airfield operations, and it avoids the capital, maintenance and operating costs associated with diesel generator-powered systems.

About Carmanah's Solar LED Airfield Lighting Systems

The systems supplied to Nassau CAA will include Carmanah's advanced A704-5 solar-powered LED wireless airfield runway edge and threshold lights with centralized wireless control. These units will operate automatically from dusk till dawn year-round under all types of environmental conditions. They can also be programmed using a centralized handheld controller for on-demand activation, selecting intensity levels or running diagnostics. Each fixture in Carmanah's A704-5 wireless lighting system can be individually controlled or controlled in groups from both the ground or the air (pilot-activated lighting) using an encrypted 900 MHz RF signal.

"The selection of our wireless-controlled solar LED lighting systems by Nassau CAA is confirmation of Carmanah's technology roadmap for its Aviation Lighting Division," states Aylesworth. "We are focused on bringing together advanced proprietary technologies, such as our solar power, LED illumination, RF wireless control and energy management intelligence, to create the most reliable, high performance and cost effective airfield lighting solutions in the world."

A704-5 airfield lights also features Carmanah's revolutionary LED optic with unprecedented output efficiency and accuracy, as well the Company's patented second generation MICROSOURCE® Energy Management System featuring Maximum Power Point Tracking (MPPT) for more efficient solar charging. For more information about the A704-5, visit: http://www.solarairportlights.com.

About Carmanah Technologies Corporation

Carmanah is an award-winning manufacturer specializing in energy efficient technologies. The Company is currently focused on three technology groups: solar-powered LED lighting, solar power systems & equipment and LED illuminated signage.

Carmanah is headquartered in Victoria, British Columbia, Canada. Its United Kingdom office is in London, England, and the Company has additional branch offices and/or sales representation in 11 cities across Canada and the United States. With more than 250,000 installations worldwide, Carmanah is one of the world's premier suppliers of energy-efficient products.

The shares of Carmanah Technologies Corporation are publicly-traded on the TSX 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.

On Behalf of the Board of Directors,

Carmanah Technologies Corporation

Praveen Varshney, Director

[EasyTech]

Carmanah Announces Financial Results for Q2 2006

VICTORIA, BC -- (MARKET WIRE) -- August 08, 2006 -- Carmanah Technologies Corporation (TSX: CMH) is pleased to announce its second quarter results for the three and six months ended June 30, 2006 and 2005.

Highlights for the quarter:

-- Record Q2 2006 revenues of $15,844,155, representing a 142% increase
over Q2 2005 and 25% over Q1 2006 at $12,693,769.
-- Record 2006 year-to-date revenues at $28,537,924, representing a 151%
increase over the same six-month period in 2005.
-- Record Q2 2006 orders booked of $16,152,968.
-- Sales order backlog of $6,681,294.
-- Gross margin at 34% for Q2 2006 and for the six months ending June 30,
2006.
-- Q2 2006 EBITA in the amount of $773,025, representing an increase of
503% over Q1 2006 at $128,249.
-- Q2 2006 net earnings in the amount of $123,543, compared to Q1 2006
loss of $(23,290).


Summary of Results

Q2 2006 is trending as per management's expectations. During the quarter, Carmanah achieved record revenues of $15,844,155, which represents growth of 142% over the same quarter in 2005 at $6,542,507 and 25% over Q1 2006 at $12,693,769. The Company also booked a record $16,152,968 in sales orders and held a significant sales order backlog of $6,681,294 going into Q3 2006. In addition, gross margins were stable at 34% and all operating expenses declined as a percentage of sales.

"The last of the unusual expenses related to our integration of Soltek Powersource Ltd. and the capital costs associated with multiple facility moves and improvements were effectively completed in Q2," states Art Aylesworth, Carmanah's CEO. "Revenues and profits are now growing quarter over quarter and we are seeing our operating expenses decline as a percentage of sales. The past quarter also saw the Company enjoy several important milestones, including the successful launch of and orders for our feature-rich A704-5 aviation light, as well as the follow-on order from London Buses to extend the system-wide rollout of our solar LED bus stops. In addition, our solar LED roadway beacons received formal approval from the state of Florida and our mobile power systems division signed a new channel partnership agreement with a major US distributor, strengthening our US routes to market. All of these achievements signal increased mainstream acceptance of our products, which bodes well for a strong finish to the year. With the wide range of 'unusual' integration and expansion activities of the past year behind us, management is now focused on growth, efficiency and profitability initiatives."

Overview of Operations

The growth in Carmanah's operations, both organically and through acquisition, has resulted in a broadening of the Company's business activities to include the design, manufacture and/or distribution of three technology groups: solar powered LED lighting, solar power systems and LED-illuminated signage.

Carmanah's Solar LED Lighting Group provides a variety of energy-efficient LED lighting products for marine, aviation, transit, roadway and industrial worksite applications. The Company's Solar Power Systems Group offers a wide range of renewable energy system solutions for industrial, residential and recreational power applications. The Company's LED Sign Group designs and manufactures energy-efficient LED edge-lit signs for corporate identity, point-of-purchase and architectural applications.

Carmanah's headquarters and primary manufacturing and distribution facilities are located in Victoria, British Columbia, Canada. The Company also operates additional manufacturing and distribution facilities in Calgary, Alberta, Canada, as well as regional distribution and sub-assembly facilities in Barrie, ON; Santa Cruz, CA; and London, England.

Carmanah currently has more than 250,000 installations in 110 countries. Carmanah's customer list includes a wide range of government, commercial and private users worldwide, who are serviced directly by the Company or one of its regional authorized distributors and/or sales agents.

Results of Operations

Sales

Carmanah's total revenues for the three months ended June 30, 2006 were $15,844,155, representing a 142% increase over the same period in 2005 at $6,542,507. Revenues for the six months ended June 30, 2006 were $28,537,924, representing a 151% increase over the same period in 2005 at $11,392,049.

Solar LED Lighting Group

Revenues from the Solar LED Lighting Group were $5,770,912 in Q2 2006, representing an increase of 12% over Q2 2005 at $5,142,265. This is not indicative of sales momentum, however, as total orders booked by the Solar LED Lighting Group for the quarter was $6,719,976. The differential between orders booked and invoiced sales is primarily a result of orders in the system with delivery dates beyond Q2.

Contributions from the Solar LED Lighting Group for the six months ended June 30, 2006 were $11,097,912, representing an increase of 29% over the same period in 2005 at $8,585,446. The Solar LED lighting Group entered Q3 2006 with a sales order backlog of $3,446,525.

Solar Power Systems Group

Revenues from the Solar Power Systems Group amounted to $8,548,354 for the three months ended June 30, 2006, and $14,775,108 for the six months ended June 30, 2006. This group was acquired in July 2005 and therefore has no comparatives for the same periods in 2005. The Solar Power Systems Group entered Q3 2006 with a sales order backlog of $2,913,698.

LED Sign Group

Revenues from the LED Sign Group were $1,356,497 in sales for Q2 2006, compared to $1,400,242 for Q2 2005. Contributions for the six months ended June 30, 2006 were $2,246,699, compared to $2,806,603 for the same period in 2005. A significant portion of revenues achieved by this group are through larger orders, and therefore quarter-over-quarter results may vary significantly. The LED Sign Group entered Q3 2006 with a sales order backlog of $321,069.

A summary of revenues from each of Carmanah's technology groups is as follows:

----------------------------------------------------------------------
Sales Summary Q1 2006 Q1 2005 Q2 2006
----------------------------------------------------------------------
Solar LED Lighting $ 5,327,000 $ 3,443,181 $ 5,770,912
Solar Power Systems $ 6,226,754 $ - $ 8,548,354
LED Sign Group $ 890,202 $ 1,406,361 $ 1,356,497
Other income $ 249,813 $ 168,392
----------------------------------------------------------------------
TOTAL $ 12,693,769 $ 4,849,542 $ 15,844,155
----------------------------------------------------------------------

continued
----------------------------------------------------------------------
Sales Summary Q2 2005 YTD 2006 YTD 2005
----------------------------------------------------------------------
Solar LED Lighting $ 5,142,265 $ 11,097,912 $ 8,585,446
Solar Power Systems $ - $ 14,775,108 $ -
LED Sign Group $ 1,400,242 $ 2,246,699 $ 2,806,603
Other income $ 418,205
----------------------------------------------------------------------
TOTAL $ 6,542,507 $ 28,537,924 $ 11,392,049
----------------------------------------------------------------------

Cost of Sales and Gross Profit Margin

Carmanah's cost of sales for the Q2 2006 was $10,496,659 (66% of sales), resulting in a gross profit margin of 34%, compared with gross profit margin of 35% for Q1 2006. For the six months ended June 30, 2006, the Company's gross profit margin was 34%, compared with 49% for the same period in 2005. The shift in Carmanah's gross margin from 2005 to 2006 is primarily due to the contribution by the Company's Solar Power Systems Group for the six months ended June 30, 2006 ($14,775,108 at 24% gross margin).

Carmanah offers product solutions to a variety of market sectors at various gross profit margins. The blended gross profit margin is significantly affected by the ratio of sales contributed by the various technological groups, by the product mix sold, as well as the related market sector.

Wages and Benefits

As a percentage of revenue, wage and benefit expenses continue to trend downwards from preceding periods. For the three months ended June 30, 2006, wage and benefit expenses were 15%, compared to 21% for Q2 2005 and 19% for Q1 2006. Wage and benefit expenses for the six months ended June 30, 2006 were 17%, compared to 20% for the same period in 2005. Wage and benefit expenses for the three months ended June 30, 2006 increased 99% to $2,389,990, compared with $1,202,770 for Q2 2005. For the six months ended June 30, 2006, wage and benefit expenses increased 116% to $4,824,958, compared with $2,233,269 for the same period in 2005. This increase is primarily due to the following:

-- $1,600K in additional wage expenses resulting from the acquisition of
the Solar Power Systems Group;
-- $390K in additional commissions expense resulting from overall
increased sales;
-- $274K in additional sales, marketing, finance, purchasing and
administrative staff in support of overall sales growth; and
-- $247K in additional stock-based compensation expense.


Office and Administration

As a percentage of revenue, office and administration expenses for Q2 2006 were 6%, compared to 7% for Q2 2005 and 6% for Q1 2006. Office and administration expenses for the six months ended June 30, 2006 were also 6%, compared to 8% for the same period in 2005.

Office and administration expenses in Q2 2006 were $992,470, representing a 119% increase over Q2 2005 of $453,658. Office and administration expenses for the six months ended June 30, 2006 were $1,801,989, representing an increase of 99% over the same period in 2005 at $904,548. This increase is primarily due to:

-- The acquisition of the Solar Power Systems Group in July 2005, which
has no comparatives for the same periods in 2005, contributed to this
increase with the additional costs of its four sub-assembly and warehouse
operations (Victoria, BC, Calgary, AB, Barrie, ON, and Santa Cruz, CA).
-- The expansion into Carmanah's new 28,000 square foot warehouse
facility, as well as the associated increase in overall office,
administration and information technology expenses.
-- Increased public company-related costs, including a one-time expense
in Q1 2006 in the amount of $117,000 to transfer its listing from the TSX
Venture Exchange to the TSX Toronto Stock Exchange, as well as an overall
increase in regulatory fees and expenses paid under the new listing.


Sales and Marketing

As a percentage of revenue, sales and marketing expenses for Q2 2006 were 4%, compared to 6% for Q2 2005 and 4% for Q1 2006. Sales and marketing expenses for the six months ended June 30, 2006 were 4%, compared to 7% for the same period 2005.

Sales and marketing expenses for Q2 2006 were $632,523, representing a 51% increase over Q2 2005 of $418,478. Sales and marketing expenses for the six months ended June 30, 2006 were $1,157,818, representing a 49% increase over $776,103 for the same period in 2005. The Company continued to increase sales and marketing activities for new and existing product lines throughout its worldwide marketplace and is expanding its sales and marketing efforts to include the Power Systems Group's customers and verticals.

For the first six months of 2006, the Company attended 56 tradeshows and industry conferences, compared with 43 similar events during the same period in 2005.

Research and Development

As a percentage of revenue, research and development expenses for Q2 2006 were 3%, compared to 7% for Q2 2005, and 3% for Q1 2006. Research and development expenses for the six months ended June 30, 2006 were 3%, compared to 7% for the same period 2005.

During Q2 2006, gross research and development expenses increased 69% to $820,062, compared with $486,787 for Q2 2005. For the six months ended June 30, 2006, gross research and development expenses increased 68% to $1,432,329, compared with $850,012 for the same period in 2005. The increase in gross research and development expenses is primarily due to continued investment in new product development, cost reduction initiatives and existing product enhancements across all of the Company's technology groups.

During Q2 2006, a SR&ED investment tax credit in the amount of $326,361 was booked against total research and development expenses, resulting in net research and development expenses of $493,701. For the six months ended June 30, 2006, a SR&ED investment tax credit in the amount of $526,509 was booked against year-to-date research and development expenses, resulting in net research and development expenses of $905,820. There are no comparative SR&ED investment tax credits for 2005.

Income Tax

Income tax expense for Q2 2006 totaled $357,826. This amount is comprised of current tax expense of $282,199 and future income tax expense of $75,627. The current tax expense relates to taxable income generated by Carmanah in the normal course of operations. Current tax expense as a percentage of pre-tax earnings is high, as Carmanah chose to postpone certain tax deductions to use investment tax credits that offset taxes otherwise payable.

Earnings

Earnings before interest, taxes and amortization (EBITA) for Q2 2006 were $773,025, compared to $447,471 for Q2 2005. For the six months ended June 30, 2006, EBITA were $901,274, compared to $754,043 for the same period in 2005.

Non-GAAP measures -- the Company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is EBITA. EBITA is calculated as net earnings before interest income, taxes and amortization. A reconciliation of EBITA to net earnings is as follows:

--------------------------------------------------------------------------
Three months ended Six months ended
June 30, June 30,
2006 2005 2006 2005
--------------------------------------------------------------------------
Net earnings -
as reported $ 123,543 $ 387,217 $ 100,253 $ 650,639
Add back (deduct):
Interest Income (39,413) (43,499) (118,889) (85,909)
Income taxes 357,826 - 406,777 -
Amortization of
equipment and
leaseholds 262,986 92,501 385,191 167,192
Amortization of
intangibles 68,083 11,252 127,942 22,121
--------------------------------------------------------------------------
EBITA $ 773,025 $ 447,471 $ 901,274 $ 754,043
--------------------------------------------------------------------------

Net earnings for Q2 2006 were $123,543, compared with $387,217 for Q2 2005. For the six months ended June 30, 2006, net earnings were $100,253 compared with $650,639 for the same period in 2005.

Carmanah is continuing to focus on maintaining or increasing the gross margins across all of its technology groups, and continuing to reduce overall operating expenses as a percentage of sales.

Balance Sheet Highlights

Carmanah's cash, cash equivalents, and short-term investments at June 30, 2006 were $4,444,241, compared to $11,662,214 at December 31, 2005.

Net cash usage from operations for the six months ended June 30, 2006 was $6,574,852. This is due primarily to:

-- $3,840,003 in increased inventory levels in support of increased sales
forecasts, particularly in areas of solar panel supply;
-- $882,255 in prepayments to suppliers to secure solar panel product;
-- $2,885,056 in increased accounts receivables due to a combination of
sales generated through the Mobile markets booking program which has
extended payment terms and to increased sales growth, particularly through
the latter part of second quarter.



During the six months ended June 30, 2006, Carmanah also invested $1,387,838 in leasehold improvements and equipment related to setup and completion of the Company's new production and warehousing facility, as well as to improvements to its head office facility in anticipation of physically integrating Soltek and Carmanah sales and administration staff. These projects were effectively completed by the end of Q2 2006. These improvements have prepared Carmanah's facilities for the anticipated growth over the next two years. The Company anticipates no further significant facilities-related investments in the foreseeable future.

As per the December 2005 financing, management advised that funds raised would be primarily used for significant infrastructure improvements, as well as pro-active inventory investment related to potential supply-side challenges in the photovoltaics market. With the availability of dollars to invest in inventory, management was able to negotiate supply contracts through to the end of 2007. As a result, current inventory levels will now be monitored and reduced where appropriate.

Net working capital as of June 30, 2006 was $26,743,748 with a current ratio of 5.2:1 and $7,609 of non-current lease obligations.

About Carmanah Technologies Corporation

Carmanah is an award-winning manufacturer specializing in renewable and energy-efficient technology solutions. The Company is currently focused on three technology groups: solar power systems & equipment, solar-powered LED lighting and LED illuminated signage.

Carmanah is headquartered in Victoria, British Columbia, Canada and has branch offices and/or sales representation in 11 cities across Canada, the United States and the United Kingdom. With more than 250,000 installations worldwide, Carmanah is one of the world's premier suppliers of energy-efficient products.

The shares of Carmanah Technologies Corporation are publicly traded on the Toronto Stock 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.

On Behalf of the Board of Directors,
Carmanah Technologies Corporation

" Praveen Varshney "
Praveen Varshney, Director

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, 2005, as filed with the U.S. Securities and Exchange 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.

CARMANAH TECHNOLOGIES CORPORATION
Consolidated Balance Sheets
(Expressed in Canadian dollars)

June 30, 2006 and December 31, 2005
(Unaudited)
--------------------------------------------------------------------------
2006 2005
--------------------------------------------------------------------------
Assets

Current assets:
Cash and cash equivalents $ 3,214,241 $ 1,882,214
Short-term investments 1,230,000 9,780,000
Accounts receivable, net 11,560,326 8,675,270
Inventories 14,852,643 11,012,640
Prepaid expenses and deposits 2,276,458 705,073
------------------------------------------------------------------------
33,133,668 32,055,197

Equipment and leasehold improvements, net 3,098,901 2,096,254
Intangible assets, net 1,218,968 1,325,055
Goodwill 12,368,019 12,330,543
Future income taxes 1,052,000 985,500

--------------------------------------------------------------------------
$ 50,871,556 $ 48,792,549
--------------------------------------------------------------------------

Liabilities and Shareholders' Equity

Current liabilities:
Accounts payable and accrued liabilities $ 5,676,122 $ 5,268,246
Deferred revenue 638,327 -
Income taxes payable 67,727 434,636
Current portion of obligations
under capital leases 7,744 19,990
------------------------------------------------------------------------
6,389,920 5,722,872

Obligations under capital leases 7,609 14,991
Obligation to former shareholders of SPS
to be settled in shares - 2,631,580
--------------------------------------------------------------------------
6,397,529 8,369,443

Shareholders' equity:
Share capital 42,368,370 38,772,138
Contributed surplus 1,646,826 1,292,390
Retained earnings 458,831 358,578
------------------------------------------------------------------------
44,474,027 40,423,106

--------------------------------------------------------------------------
$ 50,871,556 $ 48,792,549
--------------------------------------------------------------------------




CARMANAH TECHNOLOGIES CORPORATION
Consolidated Statements of Operations and Retained Earnings (Deficit)
(Expressed in Canadian dollars)

For the three and six months ended June 30, 2006 and 2005
(Unaudited)
--------------------------------------------------------------------------
Three months ended Six months ended
June 30, June 30,
2006 2005 2006 2005
--------------------------------------------------------------------------
Sales $15,844,155 $ 6,542,507 $28,537,924 $11,392,049
Cost of sales 10,496,659 3,504,571 18,805,871 5,826,684
--------------------------------------------------------------------------
5,347,496 3,037,936 9,732,053 5,565,365
Operating expenses:
Wages and benefits 2,389,990 1,202,770 4,824,958 2,233,269
Office and
administration 992,470 453,658 1,801,989 904,548
Sales and marketing 632,523 418,478 1,157,818 776,103
Research and
development 820,062 486,787 1,432,329 850,012
Research and
development ITC's (326,361) - (526,509) -

Bank charges 65,787 28,772 140,194 47,390
Amortization of:
Equipment and
leasehold
improvements 262,986 92,501 385,191 167,192
Intangible assets 68,083 11,252 127,942 22,121
----------------------------------------------------------------------
4,905,540 2,694,218 9,343,912 5,000,635
--------------------------------------------------------------------------
Operating income 441,956 343,718 388,141 564,730
Other income:
Interest and
other income 39,413 43,499 118,889 85,909

--------------------------------------------------------------------------
Earnings before income
taxes 481,369 387,217 507,030 650,639
Income tax expense
(recovery)
Current 282,199 184,000 501,418 248,000
Future 75,627 (184,000) (94,641) (248,000)
------------------------------------------------------------------------
357,826 - 406,777 -
--------------------------------------------------------------------------
Net earnings for the
period 123,543 387,217 100,253 650,639
Retained earnings
(deficit),
beginning of period 335,288 (58,962) 358,578 (322,384)
--------------------------------------------------------------------------
Retained earnings,
end of period $ 458,831 $ 328,255 $ 458,831 $ 328,255
--------------------------------------------------------------------------
Earnings per share:
Basic $ 0.003 $ 0.012 $ 0.002 $ 0.020
Diluted 0.003 0.011 0.002 0.019
--------------------------------------------------------------------------
Weighted average
number of shares
outstanding:
Basic 41,415,323 32,603,372 40,974,198 32,422,442
Diluted 42,251,240 34,464,714 41,898,144 34,283,784
--------------------------------------------------------------------------




CARMANAH TECHNOLOGIES CORPORATION
Consolidated Statements of Cash Flows
(Expressed in Canadian dollars)

For the three and six months ended June 30, 2006 and 2005
(Unaudited)
---------------------------------------------------------------------------
Three months ended Six months ended
June 30, June 30,
2006 2005 2006 2005
--------------------------------------------------------------------------
Cash provided by (used in):
Operations:
Net earnings for
the period $ 123,543 $ 387,217 $ 100,253 $ 650,639
Items not involving
cash:
Amortization 331,069 103,753 513,133 189,313
Reclassification of
previously recorded
share issuance
costs - - 117,000 -
Stock-based
compensation 203,224 96,578 406,552 159,353
Future income
taxes (recovery) 75,627 - (94,641) -
Net changes in
non-cash working
capital (3,733,671) (395,799) (7,617,149) (634,139)
--------------------------------------------------------------------------
(3,000,208) 191,749 (6,574,852) 365,166
Investing:
Short-term
investments 5,000,000 (500,000) 8,550,000 (500,000)
Purchase of equipment
and leasehold
improvements (794,596) (425,036) (1,387,838) (639,310)
Purchase of intangible
assets (12,039) (14,716) (21,873) (34,917)
Other (37,476) - (37,476) -
--------------------------------------------------------------------------
4,155,889 (939,752) 7,102,813 (1,174,227)
Financing:
Proceeds on
share issuance 656,823 108,073 858,617 1,193,693
Share issuance costs - (30,232) (34,923) (30,232)
Bank loan (97,749) - - -
Principal payments of
obligations under
capital leases (12,057) (7,326) (19,628) (13,637)
--------------------------------------------------------------------------
547,017 70,515 804,066 1,149,824
--------------------------------------------------------------------------
Increase (decrease)
in cash and cash
equivalents 1,702,698 (677,488) 1,332,027 340,763
Cash and cash
equivalents,
beginning of period 1,511,543 1,919,662 1,882,214 901,411
--------------------------------------------------------------------------
Cash and cash
equivalents, end
of period $ 3,214,241 $ 1,242,174 $ 3,214,241 $ 1,242,174
--------------------------------------------------------------------------
Supplemental cash flow
information:
Cash during the period for:
Bank charges and
interest paid $ 34,934 $ 28,772 $ 63,891 $ 47,390
Income taxes paid $ 300,000 $ - $ 352,315 $ -
--------------------------------------------------------------------------
Non-cash investing and
financing activities:
Issuance of shares
to former
shareholders
of SPS $2,631,580 $ - $ 2,631,580 $ -
-------------------------------------------------------------------------

Distributed by Filing Services Canada and retransmitted by Market Wire

For further information, please contact:

Investor Relations:
Mark Komonoski
Director
Investor Relations
Tel: [phone]
Toll-Free: 1-877-255-8483
Email Contact

Media:
David Davies
Public Relations
Tel: [phone]
Email Contact

Carmanah Technologies Corporation

CHANGE THE WORLD WITH US™

Building 4, 203 Harbour Road
Victoria, BC, Canada
V9A 3S2
Worldwide: [phone]
Toll Free: 1-877-722-8877 (Canada and USA)
Fax: [phone]
E-mail: Email Contact

SOURCE: Carmanah Technologies Corporation

[weissnichtbescheid]

Das sieht doch ziemlich gut aus, oder?

[EasyTech]

Antwort auf Beitrag Nr.: 23.771.289 von weissnichtbescheid am 05.09.06 15:02:17

das nettoergebnis sollte noch zulegen.
ansonsten bin ich zufrieden.

[EasyTech]

United States. With annual growth rates of 20-30%, the U.S. solar market continues steady expansion. However, renewable energy sources currently contribute less than 9%, or 337 billion kWh, of the nation’s total energy consumption with solar providing only a fraction of that amount. The United States recently enacted a major energy bill that included federal tax credits, purchasing goals and other programs designed to accelerate the adoption of solar power. In addition, a number of states, including California, New Jersey and Nevada, have committed substantial resources to the development and implementation of renewable energy programs. For example, in early 2006, California announced a $2.9 billion, 10 year government incentive program to reach 3,000 MW of solar installations by 2017. The program, will subsidize one-third of the installation costs of all new systems. In California, a customer who has purchased solar energy products can receive a cash rebate from the California Energy Commission, a state tax credit and can take advantage of net metering. The customer’s cash rebate is based on the capital cost of the solar power system, currently set at $2.60 per watt.

Canada. In March 2006, Ontario became the first Canadian province to offer subsidies to homeowners or businesses installing solar power systems under a program whereby the Ontario Power Authority will purchase electricity produced by wind, biomass, small hydroelectric or solar at a fixed price. Electricity generated through solar power systems will be purchased at a rate of C$0.42/kWh compared to the current consumer rate of approximately C$0.08/kWh charged by provincial utility providers.

[weissnichtbescheid]

Und Carmanah ist ja auch im US-Markt gut mit dabei.

[EasyTech]

schwarz carmanah
grün q-cells
oliv conergy
blau solarworld

[EasyTech]

Antwort auf Beitrag Nr.: 23.780.269 von weissnichtbescheid am 05.09.06 21:55:25

staatliche förderungen wurden in usa und canada erst vor kurzem eingeführt bzw. werden noch eingeführt und verstärkt.
beide märkte stehen somit am anfang einer dynamischen wachstumsphase, denke ich.

[weissnichtbescheid]

Antwort auf Beitrag Nr.: 23.780.611 von EasyTech am 05.09.06 22:11:34

Deshalb ist der nordamerikanische Solarmarkt in nächster Zeit m.e. wesentlich interessanter als der deutsche. Man muss nur die richtigen Perlen rausfischen...

[Snare]

Carmanah wird uns noch ordentlich heimleuchten. Wird auch Zeit ..
http://finance.google.com/finance

hier gibts die eine und andere aktuelle Info ...

[EasyTech]

kurs entwickelt sich endlich erfreulich.

[JoergP]

Und interessiert sich noch jemand für dieses Unternehmen?

Klein aber fein? Oder wie sind die Meinungen derzeit?

[EasyTech]

anscheinendn hat die zusammenarbeit mit nec hat dem kurs in den letzten tagen etwas geholfen.

http://www.canada.com/victoriatimescolonist/news/story.html?…
http://www.eetasia.com/ART_8800448236_765245_19ccd561200701_…

[EasyTech]

US Air Force orders Carmanah helipad lights

Carmanah's Solar LED Lighting Group has received an order from the US Air Force for more than 300 solar-powered LED airfield lights to be used for taxiway, helipad and obstruction applications at an undisclosed air base.

Carmanah is the primary supplier of self-contained solar LED airfield lighting solutions for Department of Defense (DOD) commands worldwide. The Company has more than 28,000 units in use on 5 major continents to support defense and civil airfield operations.

With no trenching, cabling, or external power infrastructure required, Carmanah's solar LED airfield lights can be installed quickly with no disruption to ongoing operations. Their unique fully-integrated design is ideal for permanent, temporary and/or emergency applications and they have been field-proven to endure harsh environmental conditions, including extreme temperature swings, sand storms and jet blast.

Carmanah's airfield lights also incorporate the Company's patented MICROSOURCE® Energy Management System, ensuring they will operate reliably year-round for up to five years with no scheduled maintenance.

For more information about this project or the Company's unique airfield lighting products in general, please visit www.solarairportlights.com

[weissnichtbescheid]

Carmanah wins $1.42-million deal for solar power system


2007-03-01 12:03 ET - News Release

Mr. Praveen Varshney reports

CARMANAH AWARDED $1.4M CONTRACT FOR CANADA'S LARGEST SOLAR POWER SYSTEM

Carmanah Technologies Corp. has been awarded a contract in the amount of $1,423,402 from Public Works & Government Services Canada (PWGSC) for a 108-kilowatt (kW) solar power system to be installed on the roof of the Jean Canfield Building in Charlottetown, PEI. This installation will become the largest solar power system in Canada.

Currently under construction, the Jean Canfield Building is located on University Avenue, bordering on Fitzroy Street and Euston Street in downtown Charlottetown. The four-storey building will house approximately 500 civil servants and, while maintaining the historical architectural style of downtown Charlottetown, will become a national showcase for sustainable and green design.

The PWGSC is striving to achieve gold certification for the Jean Canfield building under the LEED (Leadership in Energy and Environmental Design) Green Building Rating System -- the nationally accepted benchmark for the design, construction and operation of high-performance green buildings.

"Carmanah is proud to supply the PWGSC with a custom-designed, turnkey solar power system that will help make the Jean Canfield Building one of the most environmentally friendly buildings in Canada," states Art Aylesworth, Carmanah's chief executive officer. "LEED-certified buildings are 44 per cent more energy efficient on average than conventional buildings; this is a testament to what we can achieve toward the reduction of fossil fuel use and greenhouse gas emissions using today's sustainable energy technologies."

Carmanah's state-of-the-art 108 kW grid-tie solar power system will be connected to both conventional electricity grid as well as an array of more than 500 Sanyo solar modules. This system will also include Web-based monitoring technology that will provide live content to a lobby display, enabling visitors to view the system's energy generation performance in real time.

As Canada's largest solar power company, Carmanah has designed and installed many of the country's largest solar power systems including a 100 kW solar rooftop array at Exhibition Place in Toronto, Ont., in 2006.

We seek Safe Harbor.

[JoergP]

Wahrscheinlich gibt es hier im Board mehr Leute, die "die billigste Solaraktie der Welt" für Kanadas Solarwert Nr. 1 halten...

Aber Carmanah ist dafür immerhin schon lange erfolgreich und rentabel. Hier noch eine aktuelle Meldung:

CARMANAH RECEIVES $548,000 CONTRACT TO SUPPLY i-STOP® SOLAR LED BUS STOP LIGHTING SYSTEMS TO CALIFORNIA TRANSIT AUTHORITY

Victoria, British Columbia, Canada - Thursday, March 15, 2007 - Carmanah Technologies Corporation (TSX: CMH) is pleased to announce it has been awarded a follow on contract from California's Orange County Transportation Authority (OCTA) to supply and install its proprietary i-STOP® solar LED-illuminated bus stops. This contract is valued at Cdn$548,000.

This new order follows the successful rollout of 710 i-STOP® illuminated bus stops over a two year period beginning in April 2005. The initial units were primarily installed along OCTA's "Nite Owl" routes, which operate 24 hours a day. This order of i-STOP® systems will be used to provide bus stop lighting at other locations throughout the county.
...

[JoergP]

Gefunden bei http://www.eco-reporter.de:

3.4.2007: Millionenauftrag für kanadischen Solartechnikhersteller

Einen Auftrag über die Lieferung von 550 solarbetriebenen
LED-Beleuchtungseinheiten für Autobusse hat der kanadische Solartechnikhersteller Carmanah Technologies erhalten. Auftraggeber ist laut seinen Angaben die US-Transportgesellschaft TriMet (Tri-County Metropolitan Transportation District of Oregon) Wie Carmanah weiter mitteilte, erreiche der Vertrag, ... eine Größenordnung von 1,56 Millionen Kanadische Dollar. ...

Mit der Vereinbarung setzten beide Seiten ihre seit dem Frühjahr 2004 bestehene Verbindung fort, ...

[JoergP]

Und weiter geht es - ebenfalls Meldung bei http://www.eco-reporter.de

27.4.2007: Großauftrag für Carmanah Technologies
Die kanadische Carmanah Technologies Corporation hat in den USA einen Großauftrag für solarbetriebene Beleuchtungen von Buswartehäuschen... erhalten. ... King County Metro Transit (KCMT) ... Umfang von bis zu 1,1 Millionen Kanadischen Dollar (rund 722.000 Euro)...

[meinolf67]

noch jemand hier?

Bin heute mit 4.000 Stk eingestiegen, weil mir die Präsentation auf der UBS Global Alternative Energy Conference gefallen hat.

Insbesondere zwei Dinge:

-hohe Bruttomargen von bis zu 60% sind für einen Systemintegrator ungewöhnlich
-Absatz in regulierte Märkte (Aviation,...) => hohe Markteintrittsbarrieren

Bewertung im Moment natürlich noch sehr sportlich, trotz Absturz

Was denkt Ihr?

[JoergP]

Antwort auf Beitrag Nr.: 29.422.360 von meinolf67 am 22.05.07 18:11:44

Was meinst Du mit "Bewertung noch sehr sportlich"? Hast Du dafür Zahlen, um das zu untermauern?

Ich verfolge Carmanah zwar seit längerem, habe ich aber mit diesen Fundamentaldaten noch zu wenig befasst.

Was denkst Du, ist von den momentanen Bilanzierungsproblemen zu halten? Geht das schnell wieder vorüber oder deutet das auf schwerwiegende allgemeine Probleme in der Firma hin?
Die Meldungen des letzten halben Jahres über neue Aufträge sahen doch eigentlich ganz positiv aus.

[meinolf67]

Antwort auf Beitrag Nr.: 29.475.651 von JoergP am 26.05.07 11:21:06

KGV 06: 688
akt. KBV per 31.12.2006: 2,04

Das war, bevor ich nochmal in die Pressemitteilung zu Q1-07 geschaut habe.

Da steht folgendes drin:

Per 31.12.2006 hat man sich bei der Inventur "vertan",
-368.000 Ware gezählt, ohne die Verbindlichkeit zu berücksichtigen
-385.000 Ware beim Zählen zu hoch bewertet
=> aus 493.000 plus wird eine rote Null, also KGV fast unendlich

Was glaube ich?

Per Definition sind dies Einmaleffekte.

Der Vortrag bei UBS, den ich in meinem Posting vorher erwähnt hatte, macht auf mich einen ehrlichen Eindruck. Der Sprecher (leider habe ich beim Namen nicht aufgepasst) gibt Fehler zu, sagt, dass man Lektionen gelernt habe, wirkt souverän. Wohltuend.

Ansonsten scheint es ein typischer Fall von "preparing for growth" zu sein: Man baut Strukturen aus, bevor die entsprechenden Umsätze kommen. Positiv ist, dass man die ganze Zeit zwar so gut wie nichts verdient, aber eben auch nichts verloren hat. Vergleiche das mal mit anderen Buden...

Worauf man jetzt mE primär aufpassen muss, ist
-schaffen Sie die erwarteten gross-margins? siehe Inventurproblem
-kommen die erwarteten Umsatzzuwächse

Wie bereits gesagt, gefällt mir der Verkauf in regulierten Märkten; wer jemals schon mit sowas zu tun hatte (bei mir waren es Arzneimittel und Medizinprodukte), weiß dass market access mindestens die halbe Miete ist.

Gruß
Meinolf

PS
...nur mal so zum Vergleich: CMH hat Solar Systems Umsätze von 7,1 Mio. CAD in Q1; Akeena Solar hat Umsätze von 6,3 Mio USD im selben Quartal. Beide sind ziemlich ähnlich bewertet, nur dass CMH noch eine kpmplette Solar LED und eine LED-Sign Division hat.

Allerdings ist Akeena US-typisch abstrus hoch bewertet. Von WWAT will ich mal lieber gar nicht reden....

[meinolf67]

Referent ist Mark Komonoski.

Webcast sollte in Verbindung mit der Investorenpräsentation von der Webseite gelesen werden.

Zielwerte für 2007:
Umsatz: ca. 80.000.000 CAD
gross margin: 33%
net earnings: ca. 3.000.000 CAD
=> ergäbe ein KGV von ca. 30

bis 2009 will man mit 25% organisch und evtl. auch akquisitorisch wachsen und einen net profit margin von 10-15% erreichen.

Jetzt mal OPTIMISTISCH: 80 x 1,25 x 1,25 = 125 Mio. CAD
10% net profit wären 12,5 Mio. CAD => KGV 09: 7,4

Aber bis dahin fließt noch viel Wasser den St.Lorenz hinunter.

Auf jeden Fall ist die Bude wert, im Auge behalten zu werden.

[meinolf67]

Ziel gross margins:

40-60% bei Solar LED; verticals: Aviation, Marine, Roadways,...
mid 20% bei Solar Systems; zu 80% off-grid: oil&gas, telecom,...

[JoergP]

Antwort auf Beitrag Nr.: 29.484.933 von meinolf67 am 27.05.07 14:33:39

Besten Dank meinolf, das sind doch klare Fakten.

Bist Du Dir aber mit dem "Verkauf in regulierten Märkten" sicher, dass Carmanah da so einen grossen Vorteil draus hat?
Bei den von Dir auch erwähnten Arzneimitteln und Medizinprodukten ist es ja tatsächlich so, dass das ein sehr spezieller Markt ist. Die Leuchten von Carmanah für Flughäfen sind aber wahrscheinlich doch anders einzuordnen.

Ausserdem dachte ich, dass die allgemeinen Beleuchtungsanwendungen, z.B. für die Bushaltestellen und -linien, die jetzt zuletzt auch Gegenstand der gemeldeten Aufträge waren, einen immer grösseren Stellenwert einnehmen. Und da ist wahrscheinlich doch noch weniger reguliert.

Nichtsdestotrotz, die Betrachtung von KGV macht bei Firmen, die nur minimale Gewinne machen, fast keinen Sinn. Diese extremen Schwankungen bei minimalen Gewinnänderungen zeigen das doch ziemlich deutlich.
Und gerade im Solarbereich gibt es ja derzeit auch viele kleinere Firmen, die überhaupt keine Gewinne machen und trotzdem viele "Fans" haben... Z.B. XsunX, Dyesol, Solar2

Da müsste man sich eher an Parametern wie KBV orientieren.
Hättest Du da vielleicht noch ein paar Vergleichszahlen, gerne auch von grossen Firmen wie Sunways, Conergy oder Solarworld?

[meinolf67]

Antwort auf Beitrag Nr.: 29.510.225 von JoergP am 28.05.07 17:31:30

KBVs (Basis jeweils aktueller Kurs/EK per 31.12.2006):

Carmanah 2,0
Conergy 10,6
Sunways 2,8
REC 8,8
Ersol 3,1
Firstsolar 11,3
Dyesol 11,6
Q-Cells (inkl. KE aus Feb) 3,8

[meinolf67]

\"regulierte Märkte\"

Sicher bin ich mir deshalb nicht, weil es keine eigenen Erfahrungen sind, sondern Hörensagen von Carmanah, welches ich allerdings für plausibel halte.

Komonoski zeigte z.B. ein simples Straßenschild, wie es in USA sehr oft über der Mitte der Kreuzung hängt (war glaube ich, nur LED) und meinte, es hätte DREI Jahre gedauert, um es durch die Zulassungen zu bekommen.

Ganz sicher bin ich mir, dass bei Anwendungen wie Flugplatzbeleuchtung oder Bojen auf See die Zulassung eine extreme Rolle spielt. Anderes Beispiel: Komo sagte, dass die Spezifikationen, die auf der FAA-Webseite für Aviation-Beleuchtung vorgegeben wären, zwar auf abstrakt getrimmt seien, letzlich aber nur die Beschreibung des Carmanah-Produkts.

Im Prizip kann man wahrscheinlich sagen, dass alle Investitionsgüter die von öffentlicher Hand gekauft werden, mehr oder weniger stark reguliert sein dürften.

Hinsichtlich der Umsatzanteile würde ich nicht von weitem Übergewicht einer bestimmten Sparte ausgehen -man sprach von \"even distribution across verticals- und wenn, dann am ehesten für Solar Power Systems, was allerdings auf die Gesamtmarge drücken würde.

Zum Schluß kann ich nur erneut das Anhören der Präsentation wärmstens empfehlen. Sehr viele Details, die ich nicht alle hier wiedergeben kann (und auch zu faul dafür bin). Plus, man kriegt einen Eindruck von dem Typ.

Sorry, wenn das blöd nach Werbung klingt, aber ich schätze es wirklich interessant ein.

Werde aber vor den Q2-Zahlen wohl nicht weiter aufstocken.

Gruß
Meinolf

[meinolf67]

Advertising industry legend Frank Palmer unveils Carmanah Technologies' solar powered illuminated ad panel
Tuesday May 29, 8:30 am ET

VANCOUVER, May 29 /CNW/ - Frank Palmer, Chairman and CEO of DDB Canada launched Carmanah Technologies' newest addition: the i-PANEL(TM) illuminated advertising panel.

"The i-PANEL(TM) is an ideal application of our solar-powered LED lighting and solar energy management technologies," said Carmanah CEO, Art Aylesworth. "We have been working with the outdoor advertising industry, developing techniques to illuminate a 4'x6' advertising panel. Our new solar lighting technology meets or exceeds the performance requirements of the world's largest outdoor advertising firms - while providing a clean energy solution with independence from the power grid."

ADVERTISEMENT
Thursday's visit to Vancouver by California Governor Arnold Schwarzenegger highlights the priority being given to renewable energy and encouraging everyone to play their part in reducing emissions. For advertisers, the i-PANEL(TM) provides an excellent opportunity to demonstrate environmental leadership.

Transit shelter advertising panels are one of the most popular forms of outdoor advertising; in North America alone, the market generates approximately $300M in annual revenues and is growing at a rate of 8% per year.

With the i-PANEL(TM), outdoor advertising firms can install illuminated ad panels in all transit shelters, regardless of location. With thousands of shelters worldwide featuring no advertising or using only unlit ad panels, it unlocks enormous potential.

Carmanah's solar-powered i-PANEL(TM) light box technology can save thousands of pounds of greenhouse emissions annually. Its flexible design also enables it to be grid-tied anywhere power is readily available, with solar panels contributing surplus power generated to the grid, reducing the dependence on fossil fuel-based electricity. In areas of favorable sunlight, it may be possible to sell clean, surplus power back to the utility through net metering.

[JoergP]

Antwort auf Beitrag Nr.: 29.518.391 von meinolf67 am 29.05.07 08:27:50

Danke für die Fakten - auch für die Infos aus den anderen Statements.

Soo übermässig hoch bewertet sieht Carmanah dann ja gar nicht mehr aus.

In Canada ging es ja vorhin auch noch mal nett nach oben
Schlusskurs 2,25 CAD (= 1,55 Euro).

[meinolf67]

Antwort auf Beitrag Nr.: 29.533.505 von JoergP am 30.05.07 00:29:37

ich meinte: sportlich

Mein Solarportfolio (12 Werte) hat ein Durchschnitts-KGV06 von 69 und KGV07 von 32, bei einem KBV von 4,5.

Mein Hauptportfolio hat analoge Werte von 12 / 12 und 1,5.

Gegenüber dem ersten ist Carmanah zumindest hinsichtlich KBV billig, gegenüber letzterem schreiend teuer.

Aber wie man sehen kann, hoffe ich bei Solar ja auf ordentlich Wachstum.

Was hast Du so in deiner Wundertüte?

Gruß
Meinolf

[meinolf67]

Antwort auf Beitrag Nr.: 29.535.206 von meinolf67 am 30.05.07 09:45:26

sorry: SEHR sportlich

[JoergP]

Antwort auf Beitrag Nr.: 29.535.206 von meinolf67 am 30.05.07 09:45:26

Was hast Du so in deiner Wundertüte?

U.a. aus dem Solarbereich neben Carmanah noch aleo und Solar Enertech, aus dem Windbereich Energiekontor.

[meinolf67]

Investor update:


IN THIS ISSUE

1. Implementation of leadership succession plan
2. Appoinment of Philippe Favreau as Chief Operating Officer
3. Carmanah introduces EverGEN(tm) line of integrated "solar engines"
4. Carmanah unveils i-PANEL(tm) solar illuminated advertising panel
to transit industry
5. US Air Force orders Carmanah's elevated runway guard lights
6. Carmanah supplies LED write-on boards to leading game supplier
7. Ontario Ministry of Transporation installs Carmanah grid-tie
solar system
8. LED edge-lit street signs ordered by Georgia Department
of Transportation
9. US Air Force base in Japan "goes green" with Carmanah's solar
power systems and solar LED Lighting
10. Carmanah supplies solar power for traffic congestion warning
systems in Chicago, IL
11. California electric service provider installs Carmanah's
stand-alone solar power systems
12. Other sales highlights
13. Recent media coverage
14. Recent Recognition

-----------------------------

1. IMPLEMENTATION OF LEADERSHIP SUCCESSION PLAN

June 25, 2007 - Carmanah announced that its Board of Directors
unanimously approved the implementation of a succession plan that
will ensure strong leadership and continuity as the Company moves to
the next stage in its development.

Art Aylesworth, who has served as Chief Executive Officer since 2000,
accepted the appointment as Chairman of the Board, to take effect as
soon as a new Chief Executive Officer is hired. Carmanah has engaged
the leading executive search firm KornFerry International to identify
and recruit a new Chief Executive Officer to lead the Company in the
execution of its Strategic Plan.

"I have made the decision to step down as CEO of Carmanah and allow
another set of skills to take the reigns and drive the Company to its
full potential. Carmanah has reached a size where very specific
business experience on a global scale is required to capitalize on
the position we have created, and with the opportunities currently in
front of us the time is now. That said, I am looking forward to the
Chairman role, where the Company will continue to leverage my
knowledge of the solar and LED spaces and use my core skills to add
value in new ways." states Art Aylesworth.

"Art Aylesworth has been tireless in his efforts to build Carmanah
over the past seven years and he possesses a thorough understanding
of our business, our strategy, and our potential." states Dr. David
Green. "He is an inspirational leader, and the ideal candidate to
succeed me as Chairman of the Board."

Mr. Aylesworth will continue as Chief Executive Officer and Dr. Green
will continue as Chairman until a new Chief Executive Officer is
hired. Beyond that, Dr. Green will remain on the Carmanah board as an
independent director.

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070625

-----------------------------

2. APPOINTMENT OF PHILIPPE FAVREAU AS CHIEF OPERATING OFFICER

May 14th, 2007 - Carmanah appointed Philippe Favreau as Chief
Operating Officer, effective June 4, 2007. Mr. Favreau assumed
responsibility for overseeing all aspects of the Company's day-to-day
operations. Mr. Favreau brings more than 20 years experience in
operations, including product development, manufacturing, supply
chain, sales and human resource management. "I am very pleased to
have Mr. Favreau join our executive management team," stated Art
Aylesworth, Carmanah's CEO. "Mr. Favreau has an exemplary track
record in managing the operations of large, highly successful,
high-growth organizations. We welcome his wealth of knowledge and
'can-do' focus as Carmanah executes its 5 year growth plan." Prior to
joining Carmanah, Mr. Favreau's career includes:

- 2005 to 2007 - General Manager Global Operations, Workflow and
Prepress Equipment for Kodak Graphics Communication Group, a leading
provider of graphic communications solutions worldwide with 11,000
employees and annual revenues of approximately US$3.6 billion. In
this capacity, Mr. Favreau successfully integrated the Canadian and
Israeli operations of CREO, Inc. (legal, IP, HR, facilities,
manufacturing, supply chain, purchasing and IS) post acquisition.

- 2000 to 2005 - Corporate Vice President of Operations for CREO,
Inc., a global leader in prepress equipment with 1,200 employees
worldwide and annual revenues of approximately US$700 million.

- 1995 to 2005 - Mr. Favreau also held a number of other positions
within CREO, Inc., including Vice President of Manufacturing & Supply
Chain as well as Operations Manager.

- 1987 to 1995 - Operations Manager, Electrical Enclosures for
Schneider Electric, a global leader in electrical distribution,
industrial control and automation products, systems and services with
61,500 employees and annual revenues of approximately US$11.6
billion.

Mr. Favreau holds a Master's Degree in Commerce and Administration
from the University of Paris, France, as well as a Master's Degree in
Nuclear Sciences from Ecole Polytechnique Montreal, Canada. Mr.
Favreau also has a degree in Physics Engineering from Ecole
Polytechnique Grenoble, France.

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070514-2

-----------------------------

3. CARMANAH INTRODUCES EverGEN(tm) LINE OF INTEGRATED "SOLAR ENGINES"

June 5, 2007 - Carmanah introduced a new milestone in electrical
power convenience: EverGEN(tm) solar engines. Available in five
models ranging from 10 to 80 watts in power, EverGEN solar engines
are self contained, solar-powered energy sources that produce
dependable, high-quality electricity anywhere there's access to the
sun.

Ideal for locations where grid-supplied electricity is unavailable or
impractical, EverGEN solar engines can be installed in minutes, with
minimal technical expertise, and at a fraction of the cost of a
traditional hard-wired connection. Unlike conventional solar-power
systems, EverGEN solar engines are completely self-contained, with
all components (including solar panels, battery systems, sensors and
electronics) integrated within a sleek, compact and durable
pole-mounted design.

According to Carmanah CEO Art Aylesworth, the EverGEN solar engines
are well positioned to meet the changing needs of energy users across
multiple industries. "Our customers want reliable, off-grid power,
and they want it for a wide range of applications," said Aylesworth.
"Though this is an exciting new innovation, it's a natural evolution
for Carmanah, based on our extensive solar lighting experience, and
our expanded capabilities in solar power systems. Using Carmanah
technology, these compact, durable products can provide years of
dependable, high quality, uninterrupted electricity - maintenance
free, and without the monthly utility bill," said Aylesworth.

Lights, Cameras and More...

EverGEN solar engines can power a range of third-party technologies -
from lights and sensors to cameras, Wi-Fi hotspots and other
low-voltage electronics. The advantages of a stand-alone power source
are especially clear in locations where the best spot for a camera,
sensor or area light may be impractical or impossible due to lack of
access to grid power (for example, rural pathways, parks, parking
lots, campuses, construction sites, marinas or remote airfields).

More details and a photo:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070605-1

-----------------------------

4. CARMANAH UNVEILS i-PANEL™ SOLAR ILLUMINATED ADVERTISING PANEL
TO TRANSIT INDUSTRY

May 8, 2007 - Carmanah announced the newest addition to its
award-winning lineup of products for the transit industry: the
i-PANEL(tm) illuminated advertising panel. "The i-PANEL illuminated
advertising panel is an ideal application of our solar-powered LED
lighting and patented MICROSOURCE(r) solar energy management
technologies," said Carmanah's CEO, Art Aylesworth. "We've been
working on techniques to effectively illuminate a 4'x6' advertising
panel for a number of years now. With a number of recent
patent-pending breakthroughs, we've developed a solar lighting
technology that meets or exceeds the performance requirements of the
world's largest outdoor advertising firms - while providing a clean
energy solution with unprecedented independence from the power grid."

Enabling a New Source of Revenue and Profitability

Transit shelter advertising panels, with their high visibility to
both vehicle traffic and pedestrians, are one of the most popular
forms of outdoor advertising, and a key revenue source for outdoor
advertising firms as well as transit agency partners. In North
America alone, the ad panel market currently generates approximately
$300M in annual revenues and is growing at a rate of 8% per year.

Illuminated advertising panels provide advertisers with market access
24 hours per day. Until now, one of the primary issues of an
illuminated ad panel program was access to power, and the number of
ad panels in a program that would be lighted was influenced by the
possibility and/or cost effectiveness of a grid connection.
Currently, less than 30% of the bus shelters in North America are
fitted with illuminated ad panels.

With the introduction of Carmanah's i-PANEL solar-powered light box
technology, advertising agencies can now install illuminated ad
panels on all shelters in their advertising programs, regardless of
location. The end result is a new and significant opportunity for
additional revenues and profitability. "With hundreds of thousands of
shelters worldwide featuring no advertising or using only unlit ad
panels, our i-PANEL light box technology unlocks enormous financial
potential for advertising agencies and transit authorities," added
Aylesworth.

More details and photo:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070508

-----------------------------

5. US AIR FORCE ORDERS CARMANAH'S ELEVATED RUNWAY GUARD LIGHTS

June 20, 2007 - Carmanah's Solar LED Lighting Division supplied the
US Air Force with an initial order of its new solar-powered Elevated
Runway Guard Lights (ERGL). These lights will be installed on
taxiway/runway intersections at Elmendorf Air Force Base in Alaska to
alert air and vehicle traffic when they are approaching an active
runway.

Elevated Runway Guard Lights are recognized as an effective
protective visual system for preventing planes or vehicles from
entering a runway without the proper clearance. Runway incursions at
major airports have increased in recent years, and the prevention of
this safety breach remains top priority for airport safety officials.

Carmanah's Elevated Runway Guard Light is a 24-hour flashing, LED
lamp fixture combined with a remotely mounted solar engine. The ERGL
solar engine contains Carmanah's proprietary MICROSOURCE(r)
intelligence that ensures continuous light output regardless of
environmental conditions. Located on a robust tilting mount, the
solar engine is field adjustable between zero and sixty degrees to
suit deployment at various latitudes. Both the solar engine and
lamp-housing base plates are designed to connect directly to standard
FAA L-867 light bases.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070605

-----------------------------

6. CARMANAH SUPPLIES LED WRITE-ON BOARDS TO LEADING GAME SUPPLIER

June 14, 2007 - Carmanah's LED Sign Group received a repeat order
from a leading North American distributor of games and comic books
for 270 units of its LED illuminated write-on boards. These
LED-illuminated write-on boards will be installed at specialty stores
throughout North America to promote in-store events associated with a
popular card game. Retailers can draw customers' attention to
upcoming events, tournament statistics or in-store promotions by
writing messages with special markers that are illuminated by the
surface of the write-on boards.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070614-6

-----------------------------

7. ONTARIO MINISTRY OF TRANSPORTATION INSTALLS CARMANAH GRID TIE
SOLAR POWER

June 14, 2007 - Electromega, a provider of integrated solutions for
manufacturers of specialized roadway equipment, has purchased a
complete turnkey solar grid-tie system from Carmanah. The grid-tie
system, comprised of twenty Evergreen 115 watt solar modules, a 2.5
kW Xantrex grid tie inverter, and module top-of-pole mounts, was
installed along Queen Elizabeth Way, near Fort Erie, Ontario, for the
Ontario Ministry of Transportation (MTO).

The purpose of this grid-tie system is to power a single-person
workstation at an Ontario MTO weigh-scale station, which, in the
past, has always been powered by the utility. The load demand for
this particular application is relatively low, therefore the goal of
this grid-tie system is to bring the workstation as close to a 'net
zero' classification as possible, meaning the building would have a
net energy consumption of zero over a typical year.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070614-5

-----------------------------

8. LED EDGE-LIT STREET SIGNS ORDERD BY GEORGIA DEPARTMENT OF
TRANSPORTATION

May 15, 2007 - Carmanah's LED Illuminated Sign Group received an
order from an authorized regional distributor, Temple Inc., for 84 of
its LED lit street signs. These street signs were to be installed by
the Georgia Department of Transportation (GDOT) to illuminate street
names at intersections in 13 counties throughout the state.

The GDOT performed an extensive review of lit street sign
alternatives over a number of years. The agency was looking for a
sign that was low profile, energy-efficient and bright - with even
illumination. Carmanah's technology was ideal for the application and
the Company was successful in winning the order.

Carmanah's Roadway Lighting Division worked closely with consultants
and traffic engineers in Georgia during the selection process,
providing technical expertise and ensuring Carmanah met the agency's
design requirements. The resulting initial order is significant for
Carmanah, as GDOT has indicated it wishes to adopt LED edge-lit
technology as a specification standard for future street-name sign
upgrade projects.

More details and photo:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070427

-----------------------------

9. US AIR FORCE BASE IN JAPAN "GOES GREEN" WITH CARMANAH'S SOLAR
POWER SYSTEMS AND SOLAR LED LIGHTING

June 14, 2007 - Carmanah's Power System Group provided three
stand-alone solar power systems to the US Military's procurement
outfit, Supplcore, a leader in supply-chain management and logistics
solutions, to provide power to the personnel habitat lighting systems
at the US Air Force Base in Misawa, Japan.

Although utility power is available at the airbase, Carmanah's solar
power systems were chosen as a more reliable and economical
alternative to traditional hard-wired power. Also, a solar-powered
solution aligns with the US Air Force's ongoing commitment to
cost-effective and environmentally friendly energy alternatives.

In addition to the solar power systems, the air base also ordered
Carmanah's solar LED lighting solutions for portable airfield
lighting.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070614-4

-----------------------------

10. CARMANAH SUPPLIES SOLAR POWER FOR TRAFFIC CONGESTION WARNING
SYSTEMS IN CHICAGO, IL

May 28, 2007 - Through its authorized distributor, Brown Traffic
Products, Carmanah's Roadways Division supplied two stand-alone solar
power systems to be installed in the Chicago Metropolitan area .
These off-grid solar power systems were configured to run an
Intelligent Transportation System (ITS) featuring EIS/ENCOMM
"congestion ahead" warning signs to notify highway drivers of
upcoming traffic congestion.

Using Carmanah's solar power systems, each of these Intelligent
Transportation Systems consisted of an EIS remote traffic microwave
sensor and flashing beacons. With ENCOMM radios to wirelessly
communicate, the EIS sensor detects increases in traffic congestion
and activates the flashing beacons installed upstream to warn
motorists they are approaching a congested area.

With no grid power required and no scheduled maintenance for up to
five years, Carmanah's solar power solutions are a cost-effective and
reliable solution for a variety of ITS applications, including video
vehicle detection systems, sensing technologies and wireless
communications.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070528

-----------------------------

11. CALIFORNIA ELECTRIC SERVICE PROVIDER INSTALLS CARMANAH
STAND-ALONE SOLAR POWER SYSTEMS

May 25, 2007 - Carmanah's Solar Power Systems Group received an order
from Southern California Edison for 50 units of its proprietary
MAPPS™ stand-alone solar power systems. The MAPPS systems are being
used to power radio communication sites in remote locations across
Southern California.

For over 15 years, Southern California Edison, a provider of reliable
electric service that includes alternate and renewable energy for a
variety of resources, has installed hundreds of Carmanah's MAPPS
solar power systems to provide power for radios along high voltage
transmission lines across Southern California. As Carmanah's MAPPS
systems are completely self-sufficient, sealed, pre-assembled and
simple-to-install units, they prove to be the most cost-effective
means of powering Southern California Edison's remote radios. The
radios transmit information regarding the power lines status,
increasing the reliability of the utilities power infrastructure. The
MAPPS systems are modified so the customer can easily install their
radios inside the battery/control compartment minimizing the
installation time in difficult to reach, remote locations.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070525

-----------------------------

12. OTHER SALES HIGHLIGHTS

Jun 21 - Sales Grow for Custom LED Illuminated Table Game Signs

Jun 19 - Delhi International Airport Limited (DIAL) Selects Solar
Powered LED Barricade Lights

Jun 15 - Carmanah Supplies Dover AFB with A704-5 Airfield Lighting
Systems

Jun 14 - Carmanah Provides Solar LED Elevated Runway Guard Lights to
Boulder City Airport

Jun 14 - World-class Belgrade Casino installs LED Edge-lit Signage
from Carmanah

Jun 14 - Carmanah Equips Remote Mountaintop Microwave Repeater with
Stand-Alone Solar Power System

Jun 13 - Carmanah Provides Additional Stand-Alone Solar Power Units
to US Army Base in Kuwait

Jun 05 - Carmanah Supplies Solar Power System to Chicago Metropolitan
Area

For full details, as well as an archive of previous sales updates,
visit:

www.carmanah.com/content/investors/salesupdates.aspx

-----------------------------

13. RECENT MEDIA COVERAGE

Jun 07 - T-Net British Columbia - "2007 Technology Impact Award
Winners Announced"

Jun 07 - The Vancouver Sun - "Carmanah in Limelight as B.C.'s Top
Tech Company"

Jun 04 - The Vancouver Sun - "Career Move: Philippe Favreau"

Jun 01 - Alternative Energy Retailer - "Carmanah Releases
Solar-Powered Light Box For Outdoor Ads"

May 29 - The Vancouver Sun - "Solar Lighting Gets the Message Out at
Night"

May 28 - Media In Canada - "Solar-Powered Ad Panels Debut"

May - RV Lifestyle - "Let the Sunshine In!"

May 09 - British Columbia Technology Industry Association - "2007
Technology Impact Award Finalists Announced"

Content for these and other media clippings can be found at:

www.carmanah.com/content/investors/mediaclippings.aspx

-----------------------------

14. RECENT RECOGNITION

Jun 06 - Carmanah Named "Company of the Year" at the 2007 Technology
Impact Awards hosted by the British Columbia Technology Industry
Association

Jun 04 - Carmanah Ranked #34 in "Canada's Fastest Growing Companies"
by PROFIT Magazine

May 29 - Carmanah Ranks #4 in "Biggest Alternative Energy Companies
in British Columbia" by Business in Vancouver

Content for these and other awards can be found at:

www.carmanah.com/content/company/awards.aspx

------- END OF UPDATE -------

[meinolf67]

...habe meine Posi heute morgen beende und warte erstmal ab:

For Immediate Release:
WEDNESDAY, July 11, 2007
(No. 2007-07-16)

CARMANAH ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR Q2 2007

Victoria, British Columbia, Canada - Wednesday, June 11, 2007 -
Carmanah Technologies Corporation (TSX: CMH) today issued preliminary
revenue and earnings expectations for the second quarter of 2007.

Based on preliminary data, revenues for Q2 2007 are expected to be in
the range of $14M to $15M. Gross margins for the quarter are
expected to decrease from 33% in Q1 2007 to approximately 17-22% in
Q2 2007, primarily due to product mix, foreign exchange and an
increased provision for inventory obsolescence. Q2 2007 operating
costs are expected to be in the range of $6.3M to $6.8M. The net
result is that the Company anticipates a pre-tax loss for the second
quarter in the range of $3.5M to $4.5M.

"Significant foreign exchange losses and a shift in our revenue mix
toward lower margin power systems products caused considerable
pressure on our business during the quarter," said Art Aylesworth,
CEO. "The recent decline in the value of US currency effectively
decreased our top line, gross margin and profits during the quarter.
The gross margin was further impacted by inventory clearance efforts
intended to bring our inventory levels in line with business
requirements. As well, lower revenues and margins were not offset by
corresponding reductions in operating expenses, which have been
ramping up to meet anticipated growth."

"We are disappointed with the early data relating to Q2 performance
and the associated loss," states Aylesworth. "Management is assessing
all aspects of the business closely and will be taking action to
restore margins and profitability as quickly as possible."

During the quarter, the Company reduced its bank debt from $5.3
million to $3.1 million through significant inventory reduction and
improved management of working capital.

CONFERENCE CALL

Carmanah will host a special conference call at 5:00PM Eastern
(2:00PM Pacific) on Wednesday, July 11th, 2007 to discuss the
preliminary financial results. To take part in the conference call,
North America participants please call toll-free 1-800-525-6384
approximately five to ten minutes prior to the start time. For
international participants, please call [phone]. When
prompted for the Conference ID, please enter 7021842. The conference
call will also be recorded and accessible via Carmanah's corporate
website at www.carmanah.com within three business days.

Carmanah's audited financial results for Q2 2007 will be released on
August 14th, 2007, followed by the regular quarterly conference call.

[JoergP]

Antwort auf Beitrag Nr.: 30.653.885 von meinolf67 am 12.07.07 14:47:26

Ja. Nachvollziehbar.

Momentan ist nicht so ganz klar, wie es mit Carmanah weiter geht. Es ist schon ein wenig erschreckend, dass die in solche Probleme kommen. Erst die Sache mit der Bilanzierung zum 31.12.06, nun die Verluste.

Aber vielleicht sind das auch nur vorübergehende Probleme und sie finden zu alter Stärke zurück?

[meinolf67]

Antwort auf Beitrag Nr.: 30.665.395 von JoergP am 13.07.07 09:36:06

Habe mir gestern abend den CC auf der Webseite angehört.

Da ist wieder und wieder vom "perfect storm", von den tollen neu eingestellten Leuten und sogar vom cash die Rede, dass "miracolously increased"....

Mein Gesamteindruck ist (ergänzend zu der vermeintlichen Ehrlichkeit, die ich im Mai schon erwähnte), dass das bisherige Management schlicht kaufmännisch einfältig ist/war.

D.h. für mich, dass ich mindestens solange warten muss, bis sie selber wissen, wie ihre Zahlen zustande kommen.

Die wirtschaftlichen Gründe, die angeführt wurden, waren:

-schlechterer gross-margin wegen Mix
-schlechterer GM wegen Dollar
-schlechterer GM wegen Warenabschreibung
-weniger Umsatz wegen Auftragsverschiebungen

Alles durchaus Gründe, die mal passieren können, aber man muss Sie früher kommen sehen.

Na ja, diesmal noch mit kleinem Gewinn rausgekommen und im Auge behalten werde ich CMH ganz sicher, da mir die regulated markets so gut gefallen.

Bis demnächst.

[Kaufangebot]

Carmanah shares drop, analyst pulls plug
Shares in Carmanah Technologies Inc. (CMH/TSX) took a hit Thursday, dropping as much as 18% after the company warned late Wednesday afternoon of lower than expected Q2 revenues, margins and earnings.

Carmanah, a B.C.-based manufacturer of solar-powered and LED-based products, announced that revenues for the quarter are expected to fall 8.5% from a year earlier to between $14 and $15-million. That marks the fourth sequential quarter that Carmanah's revenues have declined.

As the result of foreign exchange losses and a shift toward lower margin products, the company's gross margin, meanwhile, is expected to be in the range of 17% to 22%, compared to a 33.7% margin rate from a year ago.


In turn, Carmanah anticipates a pre-tax net loss from $3.5-million to $4.5-million for the quarter. For the second quarter of 2006, Carmanah reported a profit of $500,000.


Expecting better results from top to bottom, Northern Securities analyst Marcel Brichon decided enough is enough and abandoned coverage on the stock, saying significant profitability at the company may be a long way off.

"We have been frustrated by the Company's inabiltiy to convert strong revenue growth into significant earnings," he told clients. "Now that it appears revenue growth has stalled and margins are not being maintained (let alone improving), our optimism for the future has dissipated."

Mr. Brichon had a "sell" rating and $2 price target for Carmanah, previous to discontinuiing his coverage.


David Pett

[meinolf67]

neuer Newsletter:

1. APPOINTMENT OF ROLAND SARTORIUS AS CHIEF FINANCIAL OFFICER

August 9 - Carmanah announced the appointment of Roland Sartorius as
Chief Financial Officer, effective August 13, 2007. Mr. Sartorius
assumed responsibility for leading all aspects of Carmanah's
financial activities, including accounting and reporting, strategic
planning and analysis, treasury, tax, audit, and investor relations.
Mr. Sartorius brings to Carmanah over twenty years of financial
leadership experience in private and public high-growth,
international corporations.

Most recently, Mr. Sartorius has served as Chief Financial Officer,
Director and Corporate Secretary at Infosat Communications, a
subsidiary of Bell Canada and a leading North American provider and
integrator of satellite communication solutions. While at Infosat,
Mr. Sartorius led several strategic acquisitions and investments in
North America and Asia, developed financial and operational policies
and controls, reorganized the finance, IT and administration
departments, and was instrumental in strengthening the organization's
financial position through strong management of working capital and
significantly increasing EBITDA.

Mr. Sartorius' background also includes tenures as CFO, Director and
Corporate Secretary with several European & North American based high
growth industrial & technology focused international public & private
companies, where he completed numerous acquisitions, guided the
organizations through public offerings, several equity financings and
restructuring of operations. As well, Mr. Sartorius spent eight years
with KPMG in Corporate Finance and Audit.

"Mr. Sartorius is a welcome addition to our executive management
team," states Art Aylesworth, Carmanah's CEO. "Mr. Sartorius is a
welcome addition to our executive management team," states Art
Aylesworth, Carmanah's CEO. "Roland has many years of experience
leading the financial operations of complex, rapidly-growing
international organizations. He brings a new range of financial
skills and insight to Carmanah that will be very valuable as the
Company moves to the next phase in its maturity."

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070809

-----------------------------

2. US DEFENSE ORDERS $600K IN SOLAR LED AIRFIELD LIGHTING

August 21 - Carmanah announced an additional order from the United
States Department of Defense for solar powered LED airfield lighting.
This order is valued at approximately $600,000 and consists of
taxiway, runway, approach, apron edge and obstruction lights. The
lights are destined for multiple forward operating bases at
undisclosed locations.

Carmanah is the largest supplier of self-contained solar LED airfield
lighting in the world. The Company's lights are highly advanced and
have been field-proven to endure difficult environmental conditions,
including extreme temperatures, poor solar conditions, sandstorms and
flooding. They have been used for all ranges of airfield
applications, such as permanent primary lighting, temporary lighting
during airfield construction or upgrades, emergency backup lighting,
as well as expedited portable lighting during defence or humanitarian
aid operations.

The Company's next generation A704-5 runway edge lights feature
specialized LED optics that can be toggled between visible and
infrared output (for night vision goggles), as well as optional
wireless control that lets users adjust the entire airfield lighting
system or pre-defined groups of lights using a handheld remote
controller. For more information, installation photos and
testimonials, visit www.solarairportlights.com.

"Carmanah's solar powered LED airfield lights have become the
solution of choice for many of the world's largest defence
organizations," said Art Aylesworth, Carmanah's CEO. "With systems in
the field since 2003, our technology has proven itself to be
extremely tough and reliable. Our users also save up to 90% of the
capital cost of a hardwired solution, and install our systems in a
fraction of the time with relatively little training and minimal
disruption to airfield operations."

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070821

-----------------------------

3. CARMANAH AWARDED $500K ORDER FOR SHELTER LIGHTING IN
LONDON, ENGLAND

August 28 - Carmanah announced that its United Kingdom office
received a $500,000 purchase order from Trueform Engineering Ltd for
solar powered bus-shelter lighting systems to be installed on
Transport for London bus shelters in London, England. Carmanah
currently has hundreds of these "green" solar-powered lighting
systems installed on bus shelters throughout the city, where they
have proven to be an efficient, cost-effective and reliable lighting
solution.

Carmanah's proprietary energy-management technology is well suited to
London's challenging solar environment, ensuring a reliable,
year-round source of light in even the most adverse weather
conditions. The solar powered shelter lights also offer distinct
advantages over hardwired grid-based lighting systems, including easy
installation, no scheduled maintenance, and the use of free, clean
solar energy as a power source.

According to Art Aylesworth, Carmanah's CEO, solar power is emerging
as the technology of choice for illuminating transit waiting areas.
"Carmanah is pleased to continue providing solar-powered lighting
technology for London Buses' solar illuminated bus stop project,"
said Aylesworth. "We've been involved with this initiative since
2001, and are proud to continue our relationship with Trueform as a
technology partner to London Buses. We look forward to delivering
more solutions to a growing client base of public transport
authorities throughout Europe."

London is leading the way in the innovative use of solar energy for
transit applications. Solar-powered LED lighting technology is
increasingly preferred by councils and transport agencies throughout
Europe and North America as an efficient and environmentally friendly
way to enhance customer service, security and safety along bus routes
without incurring significant installation costs and ongoing
maintenance and operating costs.

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070828-1

-----------------------------

4. UTILITY COMPANY UPGRADES FLEET VEHICLES WITH CARMANAH
POWER INVERTERS

August 29 - A New England-based utility company is outfitting its
fleet vehicles with mobile pure sine wave power inverters from
Carmanah to power office and test equipment on the road.

The technology, provided by Carmanah's Solar Power Systems Group
through one of its Eastern US-based channel partners -- a mobile AC
power specialist -- includes more than 700 Go Power!™ 300-watt pure
sine wave power inverters. These inverters will be a key component in
the utility's commercial van upfitting program. The end-user will use
these inverters to power test equipment, laptops and other mobile
office equipment in its fleet vehicles.

Carmanah's Go Power! products supply both AC and DC power for almost
any application. This power specialist chose Go Power! pure sine wave
inverters because of the reliability and clean AC power output of
this product. Carmanah's Go Power! 300-watt pure sine wave power
inverters are the professionals' choice for small-load power
applications that demand a clean, pure source of AC power.
High-quality power enables audio, video and other electronic
equipment to operate at its best, free from electrical interference
that can cause buzzing or humming.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070827

-----------------------------

5. CARMANAH SUPPLIES CUSTOM LED POINT-OF-PURCHASE SIGNS TO SPECIALTY
COFFEE IMPORTER

August 17 - Ontario-based Alfa Cappuccino Imports Inc., a leading
Canadian distributor of Italian coffee products and equipment, has
ordered a shipment of LED edge-lit point-of-purchase signs to
distribute to establishments selling and serving its IONIA Coffee
Company brand of Italian coffees.

"Carmanah's LED signs are extremely attractive and eye-catching,"
said Vladimir Martinov, Director of Customer Service for Alfa
Cappuccino Imports. "And because they are easy to install and require
no maintenance, we know they will be out in the field promoting our
brand for many years to come."

Carmanah's bright and attractive LED edge-lit point-of-purchase signs
can help to increase brand visibility, while attracting new customers
and encouraging purchase behavior. With more than 60,000 sign
installations worldwide, Carmanah's client list includes many of the
world's leading brands.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070817

-----------------------------

6. SOLAR ELECTRIC SYSTEM POWERS MONITORING EQUIPMENT ON NATURAL
GAS PIPELINE

August 21 - A solar electric system from Carmanah is helping an
energy services company track conditions along its natural-gas
pipeline.

Located far from a convenient source of grid-based electrical power,
the pipeline needed a power source to run its monitoring and
communications equipment. To ensure a reliable supply of high-quality
power, the energy services firm worked with a local electrical
distributor to install a stand-alone solar electric power system
designed by Carmanah. The pre-packaged off-grid solar power system
used for this project is a 330-watt fully integrated solar electric
system including wiring, battery, equipment enclosure and solar array.

In this application, the solar electric system provides power for a
SCADA (supervisory control and data acquisition) network of RTU
(remote terminal unit) equipment that monitors flow rates along the
natural gas pipeline.

As an alternative to other stand-alone energy sources, the
environmentally friendly solar electric system offers considerable
advantages, including minimal installation costs, no fuel costs, and
no scheduled maintenance required for up to five years.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070821-1

-----------------------------

7. CARMANAH'S DUAL FLASHING BEACONS INSTALLED ON PENNSYLVANIA
TURNPIKES

August 16 - Carmanah received an order for solar powered 24-hour dual
flashing beacons for installation on Pennsylvania turnpikes. Received
through Carmanah's authorized distributor, Signal Control Products,
the order will provide dual flashing beacons for installation on ramp
entrances throughout the state. The beacons will alert motorists to
merging traffic on busy state roadways.

Using a combination of solar power and LED (light emitting diode)
technology, Carmanah's solar powered dual flashing beacons dual
flashing beacons emit a constant 55 flashes per minute and offer
user-adjustable brightness settings.

The beacons also feature an intelligent operating system that ensures
continuous light output regardless of environmental conditions. This
feature is of particular importance in Pennsylvania where average
winter temperatures hover around 33.7 degrees F (.5 degrees C) and
average snowfall is about 40 inches (101 cm).

Quick and easy to install on existing sign posts, Carmanah's dual
flashing beacons are an easy and effective way to improve safety for
motorists merging onto busy highways.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070816

8. COLORADO SAFE ROUTES TO SCHOOL PROJECT INCLUDES SOLAR-POWERED
LED BEACONS

September 5 - Colorado's school zones are getting a safety upgrade
with Carmanah's solar-powered beacons. As part of a Safe Routes to
School project funded by the Federal Highway Administration,
Carmanah's R829C solar beacons will be placed above school zone signs
and programmed to flash at times when children are expected to be
present, such as before and after school, lunch time, and recess. The
flashing lights will help remind drivers that they are in a school
zone, while drawing attention to important speed limit and safety
signs.

The SRTS program is a Federal-Aid program of the U.S. Department of
Transportation's Federal Highway Administration (FHWA). Designed to
help make walking and biking to school a safer activity, the program
provides funding for a wide variety of projects that improve
school-zone safety, including the implementation of solar beacons.
Research has shown that flashing beacons can decrease vehicle speeds
by five to seven miles per hour in school zones, making them an
important part of Safe Routes to School (SRTS) initiatives (Saibel,
Salzberg, Doane, Moffat. "Vehicle Speeds in School Zones", Washington
State Traffic Commission Research).

Requiring no trenching, cabling or wiring, Carmanah solar-powered
beacons install quickly and easily with no connection to the
electrical grid and no maintenance for up to five years. With budget
often being a concern for schools, the long-term cost benefits of
using a solar-powered solution makes the school zone beacons an
affordable, economical choice.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070427

-----------------------------

9. OTHER SALES HIGHLIGHTS

Sep 06 - Remote Air-Sampling Monitor Uses Solar for Pollution-Free
Power

Sep 04 - Solar Crosswalk Flashers Enhance School-Zone Safety in
Washington State

Sep 04 - US Forward Operating Base Upgrades Helipad with Carmanah
Solar Airport Lights

Aug 24 - Crosswalk Warning Flashers Enhance Pedestrian Safety in
Victoria BC

Aug 20 - Grid-tie Solar Power Awnings Helps Commercial Property
Reduce Energy Costs

Aug 15 - US Air Force Installs Carmanah Portable Airfield Lights

Aug 14 - Carmanah's Insulated Battery Boxes Support 2010 Olympic
Sustainability Initiatives

For full details, as well as an archive of previous sales updates,
visit:
www.carmanah.com/content/investors/salesupdates.aspx

-----------------------------

10. RECENT MEDIA COVERAGE

Aug 30 - The Powell River Peak - "Solar Energy System Empowers"

Aug 28 - IALA / AISM Magazine - "Restoration of Connecticut's Avery
Point Lighthouse: How Carmanah Technologies added a touch of green"

Aug 23 - Times Colonist - "Carmanah Wins New U.S. Defence Deal"

Aug 23 - The Globe and Mail - "Rough Summer for Alternative-Energy
Stocks"

Aug 19 - Newsday - "New Technology Helps Old Buoys Shine"

Aug 07 - Business In Vancouver - "London Calling: The EU's friendly
economic climate attracts a fleet of B.C. companies - with the UK a
natural launchpad"

Content for these and other media clippings can be found at:
www.carmanah.com/content/investors/mediaclippings.aspx

-----------------------------

11. RECENT RECOGNITION

August 10 - Carmanah was ranked #54 in "The Tech 100" by Canadian
Business Magazine. The "The Tech 100" is an annual listing of
Canada's largest publicly-traded technology companies with ranking
based on net sales overall and by sectoral market capitalization.
For more information, go to:
www.CanadianBusiness.com

Content for these and other awards can be found at:
www.carmanah.com/content/company/awards.aspx

-----------------------------

12. TESTIMONIALS

Below is a selection of recent testimonials relating to Carmanah's
Aviation Lighting Division:

"This is probably the best IR runway on the Eastern Seaboard now."

15 August
US Army, USA

"We needed to do some construction on some drainage that ran under
the runway a few hundred feet from the end of the runway. I was able
to just unbolt the threshold lights and move them 1000' down the
runway, remount them and turn off the extra edge lights...with just a
few minutes of work I had a displaced threshold and was back
operational."

15 August, US Army, USA

"Our guys flew with the lights last night. They said they worked very
well."

15 August, Major, USAF, USA

"I know that I can rely on [thesolarairfieldlights] functioning just
as expected. I still check them every night but I think it is safe to
say that everyone has come to depend on them operating without fail."

09 August, Contractor, Middle East

"We just started using [Carmanah'sA704-5lights] and so far I have
heard that the crews love them. We finally have lights the crews can
see even with all of the cultural lighting!"

09 August, USAF, USA

"I would like to say that it has been a pleasure doing business with
you and your company. I think that you're the best vendor I have
dealt with. You have great customer service and a product of
excellent quality."

09 August, Forward Operating Base, USAF, Middle East

"I was trying to find a way to temporarily install the threshold
lights because we have to displace our threshold about 4000 ft for
runway repairs. So I made a temporary light fixture that weighed
about 100 lbs and attached the A704-5 light to it. The fixture held
in place for about three days until a jet blast blew the light off
the fixture.At first, I couldn't find the light and I thought that
someone had picked it up; however, after looking farther back, I
found the light laying on the ground almost 400' away from its
original position! So basically, the jet blast from one of our
aircraft blew the light off its base and about 400' back. The light
had barely a scratch and when I put it in a dark room, it came on
like nothing had happened. It also hasn't missed a beat since.This
was a total mishap that I would never try with your lights on
purpose, but I was amazed that the light was still operating. Thank
you so much for your fine quality product."

09 August, Forward Operating Base, USAF, Middle East

"We've got the A704-5 lights installed on one runway, got them
programmed and tried them out. They work great..."

08 August, Airfield PersonnelUSAF, USA

"Thank you and your team for the support you have provided for this
product. Both your service are your product are A+ excellent..."

03 August, Airfield Operations, US Army, Middle East

To review more custom feedback, go to:
www.carmanah.com/content/products/testimonials/


------- END OF UPDATE -------

[JoergP]

Antwort auf Beitrag Nr.: 31.543.538 von meinolf67 am 12.09.07 11:11:33

Tja... die Infos konnte man auch alle schon auf der Homepage finden.

Dem Kurs hat es nichts geholfen. Es interessiert sich momentan kaum jemand für das Unternehmen.

Ich habe jetzt auch die Hoffnung auf baldigen Wiederanstieg aufgegeben und gestern Aktien verkauft, die ich für >1,60 Euro vor einigen Wochen gekauft hatte.

Es ist ja eigentlich ein solides Unternehmen, aber das alleine reicht wohl nicht. Dann noch der Ärger mit der Bilanzierung, etc.

Dafür habe ich dann noch ein paar Arise-Aktien gekauft - so bleibe ich wenigstens bei kanadischen PV-Unternehmen... zumindest noch eine gewisse Zeit... obwohl es bei Arise auch noch längst nicht klar ist, wann/wie/ob sie in die Gewinnzone kommen und welcher Kurs dann gerechtfertigt ist... aber im Moment haben sie zumindest gute Presse und es interessieren sich viel für die Firma

[meinolf67]

CARMANAH TECHNOLOGIES CORPORATION
TSX: "CMH" | Berlin and Frankfurt Exchanges: "QCX"
--------------
For Immediate Release:
WEDNESDAY, September 12, 2007
(No. 2007-09 #24)
--------------

CARMANAH SUPPLIES LED ILLUMINATED STREET NAME
SIGNS IN NEW YORK CITY

Victoria, British Columbia, Canada - Wednesday, September 12, 2007 -
Carmanah Technologies Corporation (TSX: CMH) is pleased to announce
the Company has received an initial $285,000 order for LED internally
illuminated street name signs for a high profile sign replacement
project in midtown Manhattan, New York.

Carmanah's LED sign technology is being deployed at intersections in
two of the largest business improvement districts in New York City.
The signs will be installed around famous Midtown Manhattan
landmarks, including the Empire State Building, Grand Central
Station, the Chrysler Building and Madison Square Gardens.

Carmanah's LED sign technology was chosen after years of research and
extensive field-testing of several options for illuminated street
name signs. Sign functionality and performance, as well as Carmanah's
reputation for high quality and excellent customer service were key
factors in the selection process. Carmanah worked closely with the
business improvement districts to develop a customized sign solution
that met perfomance specifications and also fit within the design
scheme for New York's street name signage.

Carmanah's internally illuminated street name signs offer an ultra
slim profile, extreme durability with high wind load ratings, as well
as a variety of mounting options.

"While Carmanah street name signs are normally supplied to cities,
counties and DOTs, business improvement districts across North
America are now looking to this technology to improve district
streetscapes while enhancing driver and pedestrian safety," said
Carmanah CEO, Art Aylesworth. "We are very pleased to be selected as
the supplier for New York's sign enhancement project; it's an ideal
showcase for our sign technology."

Carmanah will exhibit at the International Downtown Association IDA
tradeshow in New York City on Sept 14-18, 2007, where the Company
will have its LED street name signs on display.

[meinolf67]

CARMANAH TECHNOLOGIES CORPORATION
TSX: "CMH" | Berlin and Frankfurt Exchanges: "QCX"
--------------
For Immediate Release:
MONDAY, September 24, 2007
(No. 2007-09 #25)
--------------

CARMANAH INTRODUCES EverGEN(tm) LINE OF SOLAR ENGINES AT
SOLAR POWER 2007 IN LONG BEACH, CA

VICTORIA, BRITISH COLUMBIA, CANADA - Monday, September 24, 2007 -
Carmanah Technologies Corporation (TSX: CMH) today introduced its
newest innovation, the EverGEN(tm) solar engine, at the Solar Power
2007 conference in Long Beach, California.

Available in five models ranging from 10 to 80 watts in power, the
EverGEN solar engine is a self-contained, solar-powered energy source
that provides dependable, high-quality electricity for lights,
sensors, cameras and more - anywhere there's access to the sun.
Carmanah founder and inventor of the world's first self-contained
solar-powered LED marine lantern, Dr. David Green, will also be at
the show, presenting on the topic "Solar Solutions for Today's
Off-Grid Market."

The EverGEN solar engine is the latest in a long line of
solar-powered innovations by Carmanah Technologies - a global
provider of renewable and energy-efficient technologies with more
than 250,000 installations worldwide.

HIGH QUALITY POWER, WHEREVER YOU NEED IT

Quick and easy to install, the solar engine provides a versatile
source of power at a fraction of the cost of a traditional hard-wired
connection, without trenching, cabling, permits or a monthly utility
bill. All components - including solar panels, rechargeable
batteries, sensors and electronics - are integrated within a sleek,
compact and durable pole-mounted design.

As a stand-alone power source, the EverGEN solar engine is ideal for
locations where the best spot for a camera, sensor or area light may
be impractical or impossible due to lack of access to grid power (for
example, rural pathways, parks, parking lots, campuses, construction
sites, marinas or remote airfields).

SOLAR POWERED LED LIGHTS

When paired with Carmanah's line of LED luminaires, any EverGEN solar
engine can become a versatile, stand-alone lighting solution.
Carmanah's industrial-grade LED luminaires provide a bright, focused
output with minimal glare or spillover to surrounding areas, making
them ideal for urban locations. As a combined solution with
Carmanah's growing line of LED luminaires, the EverGEN solar engines
are among the most versatile, efficient, reliable and environmentally
friendly outdoor lighting solutions available.

SMART ENERGY MANAGEMENT

For areas with reduced access to sunlight, Carmanah's patented
MICROSOURCE(r) energy management system (EMS) automatically balances
energy requirements with available resources, helping each solar
engine to "learn" and adapt to its environment. With MICROSOURCE EMS,
lighting characteristics such as automatic on/off times and default
light output levels can also be customized for maximum efficiency,
reliability and convenience.

CARMANAH FOUNDER DR. DAVID GREEN PRESENTS AT SOLAR POWER 2007

Dr. David Green launched Carmanah in 1993 after designing and
building the world's first self-contained LED marine navigation
light. As a marine lantern, Carmanah's navigation lights are truly
revolutionary - compact, economical and virtually indestructible, the
solar-powered LED lanterns can lower costs by a factor of ten while
improving performance and virtually eliminating maintenance. They
have become indispensable among coast guards, waterway authorities,
navies and boaters. Today, Carmanah designs and manufactures solar
LED technology for aviation, industrial, roadways, transit and marine
applications, as well as solar power systems for commercial,
residential and recreational customers around the world.

At the Solar Power conference on Wednesday, September 26th (4:00pm -
5:30pm), Dr. David Green will join a panel of industry experts in
discussing the unique challenges facing the off-grid solar power
market. For a demonstration of Carmanah's solar technology, visit the
Carmanah booth at #457.

[meinolf67]

Wat is los?

Kurs seit Sommer halbiert...

[JoergP]

Antwort auf Beitrag Nr.: 31.733.025 von meinolf67 am 25.09.07 09:41:36

Tja. Keine Ahnung. Irgendwie herrscht vielleicht immer noch zuviel Unklarheit bzgl. der strukturellen Probleme in der Firma (so von wegen der Probleme mit der Bilanzierung)?
Aufträge scheinen ja sonst da zu sein.
Gut im Markt etabliert sind sie eigentlich auch.

Unbekannt waren sie ja schon immer.

Also mal wieder ein paar Stücke kaufen?! Bisher ging meine "Rechnung" (eher: Hoffnung auf steigende Kurse) nicht auf... aber vielleicht dieses Mal...

Also, je mehr wir gemeinsam kaufen, umso grösser die Wahrscheinlichkeit, dass die Kurse wieder steigen

[meinolf67]

U.S. COAST GUARD APPROVES CARMANAH\'S M704-5 SOLAR LED
MARINE LANTERN FOR AIDS TO NAVIGATION

VICTORIA, BRITISH COLUMBIA, CANADA - Thursday, September 27, 2007 -
Carmanah Technologies Corporation (TSX: CMH) is pleased to announce
that its top-of-the-line M704-5 marine lantern has received official
US Coast Guard (USCG) approval for federal aids to navigation.

The high-intensity M704-5 marine lantern joins Carmanah\'s other
USCG-approved products - the M701, M702, and M702-5 lanterns - all of
which have been successfully used on low-light-intensity coast guard
aids to navigation since the late 1990s.

THE M704-5 HIGH-INTENSITY MARINE LANTERN

Carmanah\'s new M704-5 self-contained solar LED lantern combines four
nautical miles of visibility with oversized solar modules and a
heavy-duty battery for increased energy collection and storage. An
enhanced proprietary LED optic produces unparalleled light uniformity
and wide vertical divergence for increased visibility and range under
all weather conditions. Rated for four nautical miles of visibility,
the compact M704-5 lantern produces up to 90 candelas of light output
(cyan). The M704-5 also offers more than 200 flash patterns, optional
infrared user programmability, and battery packs that can last up to
five years before replacement.

According to Mimi Drabit, Carmanah\'s Coast Guard Liaison, the M704-5
lantern\'s small size, low-maintenance design and impressive output
makes it the ideal choice for all types of aids-to-navigation and
hazard marking applications requiring up to 4 nautical miles of
visibility. \"Carmanah\'s self-contained solar LED marine lighting has
become the industry benchmark; through thousands of installations
worldwide, it has proven itself to be durable, reliable and
economical. We\'re proud that our new M704-5 lantern has now been
officially added to the list of products that are USCG-approved for
aids to navigation.\"

Carmanah\'s solar LED marine lights are installed in more than 110
countries around the world, including high profile locations such as
the New York Harbour (USA), Victoria Harbour (Hong Kong), the Port of
London (England), the Port of Rotterdam (Holland), the Suez Canal
(Egypt) and Sydney Harbour (Australia).

For more information about the M704-5 and Carmanah\'s full line of
solar LED marine lighting products, visit
http://www.solarmarinelights.com.

[meinolf67]

Antwort auf Beitrag Nr.: 31.738.684 von JoergP am 25.09.07 16:43:02

Tja,

hoffe Du hast recht.

In anderen Fällen war so eine Kursentwicklung aber auch schon mal Vorbote eines Konkurses.

Mir gefällt z.B. einfach nicht, dass sie sich z.B. beim einkauf von Solarzellen so verhauen haben, dass Abschreibungen erforderlich wurden.

Bin sehr auf Q3-Zahlen gespannt.

[JoergP]

Antwort auf Beitrag Nr.: 31.772.303 von meinolf67 am 28.09.07 09:37:31

Es bleibt ungewiss.
Angesichts des zuletzt gerade wieder angesprungenen allgemeinen Solar-Hypes, ist die momentane Kurs-Entwicklung absolut unbefriedigend. Und dass das jetzt zum Quartalsende stattfindet, könnte natürlich auch darauf hindeuten, dass irgendwer schon wieder mehr darüber weiss, wie miserabel die Quartalszahlen ausfallen könnten.

Ein bisschen Hoffnung bleibt.

[meinolf67]

CARMANAH TECHNOLOGIES CORPORATION
TSX: "CMH" | Berlin and Frankfurt Exchanges: "QCX"
--------------
For Immediate Release:
TUESDAY, October 16, 2007
(No. 2007-10 #27)
--------------

CARMANAH APPOINTS TED LATTIMORE AS CHIEF EXECUTIVE OFFICER

Company completes new executive suite with arrival of internationally
experienced officer

VICTORIA, BRITISH COLUMBIA, CANADA - Tuesday, October 16, 2007 -
Carmanah Technologies Corporation (TSX: CMH) a global provider of
solar power and lighting technologies, is pleased to announce the
appointment of Ted Lattimore as Chief Executive Officer, effective
October 16, 2007. Mr. Lattimore takes over from Art Aylesworth, the
company's CEO since 2000, who moves to the position of Chairman of
the Board.

Mr. Lattimore brings more than 20 years of entrepreneurial and
executive experience in the mobile telecommunications industry,
beginning with his involvement in the launch of the industry in
Canada in 1985, to most recently as the President and Chief Operating
Officer for Vodafone Romania (formerly Connex - MobiFon, part of
Montreal-based TIW), a subsidiary of Vodafone Group Plc., the world's
largest international mobile telecommunications group. His
achievements with Connex - MobiFon / Vodafone include growing the
company's customer base from 700,000 to 5.5 million subscribers in
six years.

"I am very pleased to have Ted succeed me as CEO at this natural
transition point in the company's development," stated Art
Aylesworth. "Ted has an outstanding track record of delivering
exceptional operational and organizational performance, and company
profitability, in a rapidly growing, global technology industry. His
wealth of knowledge, commitment to success, and experience in taking
new technologies and solutions to new markets, will lead Carmanah
into the next phase of its strategic growth plan."

Prior to joining Carmanah, Mr. Lattimore's career includes:
- 2000 to 2005 – President and Chief Operating Officer for Vodafone
Romania, a subsidiary of Vodafone Group Plc, previously known as
Connex - MobiFon. Connex - MobiFon was the largest operating company
of Montreal based TIW. Mr. Lattimore led the company as the
highest-ranking company officer situated in Bucharest, Romania, from
its early years as a venture capital investment in 2000, through to
the successful sale of the company to Vodafone in mid-2005,
concluding with the completion of his responsibilities at the end of
that year. Mr. Lattimore successfully built and led, both
strategically and operationally, the company to annual US$1 billion
revenues in 2005, with 50% operating margin.

- 1999 to 2000 – Senior Vice President for Western Canada for Bell
Mobility. Mr. Lattimore developed the service launch of Bell Mobility
to the provinces of Alberta and British Columbia.

- 1989 to 1999 – Vice President Marketing and Vice
President/General Manager Wireless Services (1997 to 1999) for BCTel
Mobility (now Telus Mobility). Mr. Lattimore oversaw all strategic
planning and marketing responsibilities for the rapidly expanding
cellular telephone network business, as well as the profit and loss
responsibilities for a $30 million Paging, Autotel, Satellite and
Wireless Systems telecommunications business. His leadership included
the marketing introduction of CDMA Cellular telephony service to the
Canadian marketplace. Mr. Lattimore founded and chaired the Mobility
Canada Strategic Advisory Committee.

- 1985 to 1989 – Bell Mobility; Director of Marketing, Toronto
(1988 to 1989), Branch Manager (1985 to 1988), London, Canada.

- Prior to joining the mobile telecommunications industry in 1985,
Mr. Lattimore worked for Xerox Canada in roles in both field sales
and head office marketing.

At Connex - MobiFon, in the developing Eastern European country of
Romania, Mr. Lattimore implemented a complete reorganization and
financial focus of the company that resulted in uninterrupted
customer and financial growth for the parent company, Canada's TIW,
while concurrently improving employee and customer satisfaction. The
company generated $286 million in shareholder dividends to year end
2004, sold a $225 million high-yield bond—the first ever in
Romania—and managed a $300 million loan restructuring, the biggest
private placement in Romanian history. The European Bank of
Reconstruction and Development named it one of its top 10 investments
of all time. Business Central Europe, a publication of The Economist,
named it "Best Company in Romania" for three years in a row. Connex -
MobiFon's sale to Vodafone in 2005, the larger part of a US$4.5
billion transaction, was the largest corporate sale in Romania.

A native of Ontario, Canada, Mr. Lattimore earned a bachelor's degree
in Economics from the University of Western Ontario, completed
executive finance training at the Harvard Business School, and guest
lectured at the Romanian/Canadian MBA program in Bucharest. He was
recognized as one of the top 10 business managers in Romania.

"Ted Lattimore has demonstrated his abilities as a mature, aggressive
and highly strategic business leader and I am confident about
Carmanah's future in such capable hands," said company founder and
exiting Chairman Dr. David Green, who remains on the Carmanah board
as an independent director. "The Board has been particularly
impressed by Ted's decision to receive the majority of his
compensation in the form of options and performance-based share
units. Additionally, Ted has requested the opportunity to purchase
nearly $500,000 of common shares from the company. Clearly Ted is
confident in the growth opportunities available to Carmanah and is
very focused on realizing this potential."

Following the recent hiring of Mr. Philippe Favreau as Chief
Operating Officer and Mr. Roland Sartorius as Chief Financial
Officer, Mr. Lattimore's appointment completes Carmanah's succession
plan, ensuring continuity and quality of leadership going forward.

A conference call will be held on Tuesday, October 16 at 11:00AM
Eastern (8:00AM Pacific) to introduce Mr. Lattimore. To participate
on the conference call, please call toll-free 1-800-525-6384
(domestic) or [phone] (international) approximately five to
ten minutes prior to the start time. When prompted for the Conference
ID, please enter 20709987.

A replay of this conference call is available approximately two hours
following the call's completion. To access this recording, call
toll-free 1-888-214-7699 (domestic) or [phone]
(international). When prompted for the passcode, please enter
20709987. In addition, a recording of the conference will accessible
via Carmanah's corporate website at www.carmanah.com within three
business days.

[meinolf67]

INVESTOR UPDATE Newsletter
Issued: Wednesday, October 24, 2007
-----------------------------

Welcome to the latest issue of Carmanah's INVESTOR UPDATE newsletter.
This summary correspondence has been created to keep you better
informed about the company's operations. To supplement this
publication, you can also visit the "What's New" section on
Carmanah's corporate web site at
www.carmanah.com/content/company/whatsnew.aspx.

If you have any questions, comments or suggestions about this
newsletter or Carmanah in general, please contact Mark Komonoski,
Director of Investor Relations, toll-free: 1-877-255-8483 (US &
Canada) or worldwide: [phone]. You can also reach him at
[e-mail].

IN THIS ISSUE

1. Carmanah appoints Ted Lattimore as Chief Executive Officer
2. US Coast Guard Approves Carmanah's M704-5 Solar LED Marine
Lantern
3. Carmanah Supplies LED Illuminated Street Name Signs in New York
City
4. Carmanah Introduces the EverGEN(tm) Solar Engines at Solar Power
2007
5. Solar-Powered Beacons Enhance Pedestrian Safety in Caribbean
Resort Town
6. Carmanah Receives Additional Order for LED Edge-Lit Signs for
Major North American Consumer Electronics Company
7. Stand-Alone Solar Power Systems Monitor Natural Gas Pipeline
in Pakistan
8. US Air Force Installs Solar-Powered Infrared Airfield Lights
9. Other sales highlights
10. Recent media coverage
11. Recognition
12. Testimonials

-----------------------------

1. CARMANAH APPOINTS TED LATTIMORE AS CHIEF EXECUTIVE OFFICER

October 16 - Carmanah Technologies Corporation announced the
appointment of Ted Lattimore as Chief Executive Officer, effective
October 16, 2007. Mr. Lattimore takes over from Art Aylesworth, the
company's CEO since 2000, who moves to the position of Chairman of
the Board.

Mr. Lattimore brings more than 20 years of entrepreneurial and
executive experience in the mobile telecommunications industry,
beginning with his involvement in the launch of the industry in
Canada in 1985, to most recently as the President and Chief Operating
Officer for Vodafone Romania (formerly Connex - MobiFon, part of
Montreal-based TIW), a subsidiary of Vodafone Group Plc., the world's
largest international mobile telecommunications group. His
achievements with Connex - MobiFon / Vodafone include growing the
company's customer base from 700,000 to 5.5 million subscribers in
six years.

Prior to joining Carmanah, Mr. Lattimore's career includes:

- 2000 to 2005 – President and Chief Operating Officer for Vodafone
Romania, a subsidiary of Vodafone Group Plc, previously known as
Connex - MobiFon. Connex - MobiFon was the largest operating
company of Montreal based TIW. Mr. Lattimore led the company as
the highest-ranking company officer situated in Bucharest,
Romania, from its early years as a venture capital investment in
2000, through to the successful sale of the company to Vodafone in
mid-2005, concluding with the completion of his responsibilities
at the end of that year. Mr. Lattimore successfully built and led,
both strategically and operationally, the company to annual US$1
billion revenues in 2005, with 50% operating margin.

- 1999 to 2000 – Senior Vice President for Western Canada for Bell
Mobility. Mr. Lattimore developed the service launch of Bell
Mobility to the provinces of Alberta and British Columbia.

- 1989 to 1999 – Vice President Marketing and Vice President/General
Manager Wireless Services (1997 to 1999) for BCTel Mobility (now
Telus Mobility). Mr. Lattimore oversaw all strategic planning and
marketing responsibilities for the rapidly expanding cellular
telephone network business, as well as the profit and loss
responsibilities for a $30 million Paging, Autotel, Satellite and
Wireless Systems telecommunications business. His leadership
included the marketing introduction of CDMA Cellular telephony
service to the Canadian marketplace. Mr. Lattimore founded and
chaired the Mobility Canada Strategic Advisory Committee.

- 1985 to 1989 – Bell Mobility; Director of Marketing, Toronto
(1988 to 1989), Branch Manager (1985 to 1988), London, Canada.

- Prior to joining the mobile telecommunications industry in 1985,
Mr. Lattimore worked for Xerox Canada in roles in both field
sales and head office marketing.

At Connex - MobiFon, in the developing Eastern European country of
Romania, Mr. Lattimore implemented a complete reorganization and
financial focus of the company that resulted in uninterrupted
customer and financial growth for the parent company, Canada's TIW,
while concurrently improving employee and customer satisfaction. The
company generated $286 million in shareholder dividends to year end
2004, sold a $225 million high-yield bond—the first ever in
Romania—and managed a $300 million loan restructuring, the biggest
private placement in Romanian history. The European Bank of
Reconstruction and Development named it one of its top 10 investments
of all time. Business Central Europe, a publication of The Economist,
named it "Best Company in Romania" for three years in a row. Connex -
MobiFon's sale to Vodafone in 2005, the larger part of a US$4.5
billion transaction, was the largest corporate sale in Romania.

A native of Ontario, Canada, Mr. Lattimore holds a bachelor's degree
in Economics from the University of Western Ontario, completed
executive finance training at the Harvard Business School, and guest
lectured at the Romanian/Canadian MBA program in Bucharest. He was
recognized as one of the top 10 business managers in Romania.

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071016

-----------------------------

2. US COAST GUARD APPROVES CARMANAH'S M704-5 SOLAR LED MARINE
LANTERN FOR AIDS TO NAVIGATION

September 27 – Carmanah's top-of-the-line M704-5 marine lantern have
received official US Coast Guard (USCG) approval for federal aids to
navigation.

The high-intensity M704-5 marine lantern joins Carmanah's other
USCG-approved products - the M701, M702, and M702-5 lanterns - all of
which have been successfully used on low-light-intensity coast guard
aids to navigation since the late 1990s.

About the M704-5 High-Intensity Marine Lantern

Carmanah's new M704-5 self-contained solar LED lantern combines four
nautical miles of visibility with oversized solar modules and a
heavy-duty battery for increased energy collection and storage. An
enhanced proprietary LED optic produces unparalleled light uniformity
and wide vertical divergence for increased visibility and range under
all weather conditions. Rated for four nautical miles of visibility,
the compact M704-5 lantern produces up to 90 candelas of light output
(cyan). The M704-5 also offers more than 200 flash patterns, optional
infrared user programmability, and battery packs that can last up to
five years before replacement.

According to Mimi Drabit, Carmanah's Coast Guard Liaison, the M704-5
lantern's small size, low-maintenance design and impressive output
makes it the ideal choice for all types of aids-to-navigation and
hazard marking applications requiring up to 4 nautical miles of
visibility.

"Carmanah's self-contained solar LED marine lighting has become the
industry benchmark; through thousands of installations worldwide, it
has proven itself to be durable, reliable and economical. We're proud
that our new M704-5 lantern has now been officially added to the list
of products that are USCG-approved for aids to navigation."

More details and a photo:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070927

-----------------------------

3. CARMANAH SUPPLIES LED ILLUMINATED STREET NAME SIGNS IN
NEW YORK CITY

September 12 - Carmanah has received an initial $285,000 order for
LED internally illuminated street name signs for a high profile sign
replacement project in midtown Manhattan, New York. Carmanah's LED
sign technology is being deployed at intersections in two of the
largest business improvement districts in New York City. The signs
will be installed around famous Midtown Manhattan landmarks,
including the Empire State Building, Grand Central Station, the
Chrysler Building and Madison Square Garden.

Carmanah's LED sign technology was chosen after years of research and
extensive field-testing of several options for illuminated street
name signs. Sign functionality and performance, as well as Carmanah's
reputation for high quality and excellent customer service were key
factors in the selection process. Carmanah worked closely with the
business improvement districts to develop a customized sign solution
that met perfomance specifications and also fit within the design
scheme for New York's street name signage.

Carmanah's internally illuminated street name signs offer an ultra
slim profile, extreme durability with high wind load ratings, and a
variety of mounting options.

"While Carmanah street name signs are normally supplied to cities,
counties and DOTs, business improvement districts across North
America are now looking to this technology to improve district
streetscapes while enhancing driver and pedestrian safety," said
Carmanah CEO, Art Aylesworth. "We are very pleased to be selected as
the supplier for New York's sign enhancement project; it's an ideal
showcase for our sign technology."

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=070912

-----------------------------

4. CARMANAH INTRODUCES THE EVERGEN(TM) LINE OF SOLAR ENGINES AT
SOLAR POWER 2007 IN LONG BEACH, CA

September 24 - Carmanah introduced its newest innovation, the
EverGEN(tm) solar engine, at the Solar Power 2007 conference in Long
Beach, California. Available in five models ranging from 10 to 80
watts in power, the EverGEN solar engine is a self-contained,
solar-powered energy source that provides dependable, high-quality
electricity for lights, sensors, cameras and more - anywhere there's
access to the sun.

Carmanah founder and inventor of the world's first self-contained
solar-powered LED marine lantern, Dr. David Green, was also at the
show, presenting on the topic "Solar Solutions for Today's Off-Grid
Market."

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=070924

-----------------------------

5. SOLAR-POWERED BEACONS ENHANCE PEDESTRIAN SAFETY IN CARIBBEAN
RESORT TOWN

October 11 - One of the Caribbean's most popular tourist destinations
is enhancing pedestrian safety with Carmanah's solar-powered beacons.
The largest install of Carmanah's solar technology in the Caribbean
to date, the planned upgrade includes solar-powered R247C flashing
beacons, R820C pedestrian crosswalk flashers and R829C school zone
flashing beacons.

A popular cruise ship stopover, the area experiences times of greatly
increased pedestrian and vehicle traffic. This made it necessary to
implement cost-effective safety measures that allow for the safe and
efficient flow of both tourist and local traffic. The safety of
school children walking to and from school was also of primary
concern for area officials. This installation of solar flashing
beacons is expected to benefit motorists and pedestrians alike,
helping to enhance safety and efficiency throughout school zones and
high-traffic tourist areas.

Carmanah's solar flashing beacons attach securely to existing sign
posts, making installation quick and easy. With no trenching or
hardwiring required, the beacons can be installed with minimal
technical expertise.

With no connection to the electrical grid and requiring no scheduled
maintenance for up to five years, Carmanah's solar flashing beacons
are a smart long-term investment, providing reliable safety
improvements with no ongoing operational costs.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071011

-----------------------------

6. CARMANAH RECEIVES ADDITIONAL ORDER FOR LED EDGE-LIT SIGNS FOR
MAJOR NORTH AMERICAN CONSUMER ELECTRONICS COMPANY

October 12 - Following an initial order of over $500,000 in July
2007, Carmanah's LED Sign Group has received an additional $80,000
order for LED edge-lit point-of-purchase signs for a major North
American consumer electronics company.

After evaluating several signage alternatives, the communications
company chose the contemporary look and ultra-slim profile of
Carmanah's customized LED edge-lit signs to identify its authorized
dealers throughout the United States. Key performance benefits
including a 10 year LED lamp life, zero maintenance and
energy-efficient 12-volt operation also factored into the decision to
use Carmanah's sign technology.

Carmanah's LED Sign Group has been designing and manufacturing
energy-efficient, LED edge-lit signs for more than a decade using an
innovative combination of ultra-bright LEDs and proprietary
edge-lighting technology. Using state-of-the-art manufacturing and
production procedures, Carmanah can illuminate virtually any logo or
design with exceptionally bright, crisp and eye-catching LED output.
The result is a unique marketing tool that can create additional
awareness for any company brand, product or service.

The LED edge-lit signs designed and manufactured for this particular
customer also feature Carmanah's exclusive EvenLit(tm) acrylic sheet
- a unique cell-cast acrylic product that is an ideal medium for
accurately reproducing the customer's complex and colourful logo in
accordance with corporate identity guidelines.

More details:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071012

-----------------------------

7. STAND-ALONE SOLAR POWER SYSTEMS MONITOR NATURAL GAS PIPELINE
IN PAKISTAN

September 19 - Carmanah has shipped solar electric technology to
Pakistan where the stand-alone solar power systems will help monitor
conditions along several of the country's natural gas pipelines.

Thousands of miles of natural gas pipeline run through remote areas
of Pakistan - much of it far from any source of reliable electrical
power.

For these areas, 90 units of Carmanah's fully integrated,
pre-packaged 360 Watt off-grid solar power systems will power the
pipelines' natural gas monitoring and communications systems.

These systems are designed to provide power for a SCADA (supervisory
control and data acquisition) network of RTU (remote terminal unit)
equipment that monitors flow rates along the natural gas pipeline.
The RTUs can also provide local site control such as well shut-in, in
the event of abnormal gas flow conditions.

Over the past 10 years, more than 80 units of Carmanah's stand-alone
solar powered systems have been installed over hundreds of miles of
pipeline in Pakistan, where they've proven to perform reliably for
SCADA and RTU flow monitoring.

As an alternative to other stand-alone energy sources, the
environmentally friendly solar electric systems — which come complete
with wiring, batteries, enclosures and solar arrays — offers
considerable advantages such as minimal installation costs, no fuel
costs, and no scheduled maintenance for up to five years.

More:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=070914

-----------------------------

8. US AIR FORCE INSTALLS SOLAR-POWERED INFRARED AIRFIELD LIGHTS

October 12 - Carmanah's A704-5 solar-powered infrared airfield lights
are illuminating "small austere airfields" (SAAF) at an undisclosed
US Air Force base. The solar-powered portable airfield lights are
being used to enhance airfield safety during covert and overt
emergency tactical operations at the remote location. Portability,
field-proven reliability and infrared capabilities were all important
factors in the decision to use Carmanah lights.

Compact and self-contained, Carmanah's A704-5 portable airfield
lighting offers easy deployment and reconstitution and has been
proven to perform flawlessly in even the harshest desert conditions.
With infrared LED output and wireless control capabilities,
Carmanah's A704-5 supports covert operations with ease and is ideal
for use in box-and-one airfield marking patterns.

Carmanah's A704-5 solar power portable airfield lighting is widely
used at airfields around the world in support of civil, defense and
humanitarian aid operations.

More:
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071011-1

-----------------------------

9. OTHER SALES HIGHLIGHTS

Oct 05 - Illuminated Write-On Sign Wins Gold

Oct 01 - Tool Retailer Powers Mobile Offices with Go Power! Inverters

Sept 28 - Reno Casino Lights Up Slots with Carmanah LED Edge-Lit Signs

Sept 27 - Solar Area Lighting Enhances Pathway Safety for Ontario
Pedestrians

Sept 25 - Solar Power Illuminates Pathways and Bus Stops in Northern
BC Town

Sept 20 - New Delhi Airfield Enhances Safety with Solar-Powered
Barricade Lights

Sept 19 - Solar-Powered Area Lighting Illuminates Wyoming's Remote
Roadways

Sept 18 - Carmanah Supports Wireless Communications with Solar Power

Sept 13 - Carmanah Provides School Zone Flashing Beacons to Puget
Sound Area Elementary Schools

For more information on these and other sales updates, visit:
www.carmanah.com/content/investors/salesupdates.aspx

-----------------------------

10. RECENT MEDIA COVERAGE

Oct 17 - Vancouver Sun - "New Carmanah CEO Comes from Cellphone
Ranks: Former Vodafone executive to drive solar power company growth"

Oct 17 - Globe and Mail - "Carmanah CEO Hiring Completes Executive
Overhaul"

Oct 06 - Boating Industry Canada - "US Coast Guard Approves
Carmanah's M704-5 Solar LED Marine Lantern for Aids to Navigation"

Sep 24 - Solar Power 2007 online - "EverGEN: Carmanah Introduces
Small Solar Engine"

For more media clippings, visit
www.carmanah.com/content/investors/mediaclippings.aspx

-----------------------------

11. RECENT RECOGNITION

October 10 - Carmanah Technologies Corporation has been named among
BC's Top 25 Exporters in an announcement October 4th by Colin Hansen,
Minister of Economic Development and Werner Knittel, Vice President
BC Division, Canadian Manufacturers & Exporters (CME). As one of 25
finalists in the 2007 BC Export Awards, Carmanah will take its place
among BC's top exporters at the 25th Annual BC Export Awards Gala on
November 23rd at the Hyatt Regency in Vancouver.

Sept 27 - Carmanah Signs' LED illuminated write-on calendar has
received a "Gold" award in the 2007 Design of the Times Awards
Competition, held in conjunction with the In-Store Marketing Expo in
Chicago. The Design of the Times Awards Competition recognizes the
in-store marketing industry's best displays and retail promotions.

For more information on Carmanah's awards and recognition, visit
www.carmanah.com/content/company/awards.aspx

-----------------------------

12. TESTIMONIALS

The following is a selection of recent testimonials relating to
Carmanah's Aviation Lighting Division:

"You can add our air base to your list... I just came from being the
squadron commander there...[Carmanahlights] saved our bacon. Believe
it or not, we are planning on using your lights as permanent
obstruction lights." - Oct 15, US Army, Middle East

"We have your lights marking our helicopter parking area. As a
communications specialist, my use for your light was to mark the top
of my antenna mast. The 601 worked perfectly... Thank you again for
the superb products your company manufactures." - Oct 15, US Army,
Middle East

"Crews have said they can see these lights much further out on NVGs
(night vision goggles)." - Oct 15, US Air Force, (undisclosed)

"Thank you for all your help the last 7 months. Out of all the
companies I deal with over here, Carmanah staff and yourself are by
far the most professional, helpful and always quick to respond to all
inquiries." - Oct 15, US Marine Corps, Middle East

"They did prep training last Monday for box-and-one operations with
the 704-5's. They loved the units, everything worked great." - Oct
15, Canadian Air Force, (undisclosed)

To review more customer feedback, visit:
www.carmanah.com/content/products/testimonials/

------- END OF UPDATE -------

[meinolf67]

CARMANAH AWARDED $600,000 CONTRACT FOR SOLAR-POWERED
PORTABLE AIRFIELD LIGHTING SYSTEMS IN SINGAPORE

VICTORIA, BRITISH COLUMBIA, CANADA - Tuesday, October 30th, 2007 -
Carmanah Technologies Corporation (TSX: CMH), has received an order
through Power Force Technologies Pte Ltd. - its authorized
distributor in Singapore - to supply solar-powered portable airfield
lights for use throughout the Republic of Singapore. The order,
valued at approximately $600,000, will support emergency preparedness
efforts by providing the capability to quickly install complete
airfield lighting systems, wherever they're required. As an
alternative to battery or generator-powered portable airfield
lighting systems (PALS), Carmanah's solar-powered technology is
leading the way to the world's first radio-controlled portable
solar-powered airfield lighting system (PSALS).

Compact, durable and easy to install, Carmanah's LED (light emitting
diode) airfield lights can help support relief efforts or
humanitarian aid missions by providing quick and effective lighting
along temporary airstrips in the event of flooding, earthquakes or
other national emergencies. With no trenching or cabling required, a
two-person crew can install a fully operational 5,000 ft. runway in
one hour or less. Free from the need for wiring, cables, generators
or grid access, Carmanah's solar-powered portable airfield lights
offer unparalleled convenience, reliability and performance.

In this application, each installation of radio-controlled solar
airfield lights includes a set of solar-powered A704-5 airfield
lights, "distance-to-go" marker lights, and handheld controllers. For
maximum versatility and reliability, a built-in energy management
system automatically aligns light levels with available energy
resources to ensure the lights always have the power they need to
operate, and a programmable interface allows the user to set on/off
times, brightness levels, flash patterns, infrared or visible outputs
and more.

As a standalone, maintenance-free lighting solution, Carmanah's
solar-powered airfield lights are not just a popular choice for
remote airfields and temporary landing strips - they are also a
convenient and cost-effective choice at major commercial airports
around the world. Carmanah's range of solar-powered airfield lights
includes industry-proven lighting products for runways, taxiways,
thresholds, helipads, obstructions and more. Using durable and
long-lasting LEDs in place of incandescent bulbs, and operating
independently of the electrical grid, Carmanah's solar-powered
airfield lights offer unprecedented reliability, wherever they're
needed.

To date, Carmanah's radio controlled A704-5 solar-powered LED lights
are illuminating more than 45 airfields around the world, including
commercial airfields, helipads, remote air bases, and international
airports. According to Allister Wilmott, Business Development Manager
for Carmanah's Aviation business unit, this contract underscores the
global appeal and industry-wide acceptance of this innovative
technology. "We're very pleased to help support Singapore's emergency
preparedness and humanitarian aid objectives through solar
technology," said Wilmott. "This large-scale application of
Carmanah's solar technology demonstrates the versatility of a solar
solution as a reliable and cost-effective alternative to the
traditional electrical or battery-powered systems."

With just over 3.5 million citizens, the island-state of Singapore is
among the world's most prosperous countries, home to one of the
busiest ports, and an airport that has been voted among the world's
best. Through its Changi Airport, Singapore hosts more than 80
airlines with 4,000 weekly scheduled flights connecting to 57
countries.

ABOUT CARMANAH'S MODEL A704-5 SOLAR LED AIRFIELD LIGHTS

Carmanah's solar aviation lighting systems are suitable for
permanent, portable and emergency airfield applications deployable
anywhere. Similar Carmanah systems have been used during relief
efforts during the 2005 Asian tsunami and Hurricane Katrina, and by
the government of the Bahamas to provide 16 remote islands with their
first permanent illuminated airfields for safe night flights and
24-hour medevac operations.

A704-5 airfield lights feature Carmanah's revolutionary LED optics
with unprecedented output efficiency and accuracy, as well the
patented second-generation MICROSOURCE® Energy Management System
featuring Maximum Power Point Tracking (MPPT) for more efficient
solar charging. Offering a quick and easy installation, versatile
operation, no electricity bills, and no scheduled maintenance for up
to five years, the solar-powered lighting system offers an affordable
and effective way to improve airfield safety for many years to come.

Carmanah's A704-5 aviation lights are available now from Carmanah
Technology Corporation. For more information, visit
www.solarairportlights.com.

[meinolf67]

CARMANAH TECHNOLOGIES CORPORATION
TSX: "CMH" | Berlin and Frankfurt Exchanges: "QCX"
--------------
For Immediate Release:
MONDAY, November 5, 2007
(No. 2007-11 #29)
--------------

SOLAR LED MARINE LANTERN ADDS GPS FOR SYNCHRONIZED FLASHING

VICTORIA, BRITISH COLUMBIA, CANADA - Monday, November 5th, 2007 -
Carmanah Technologies Corporation (TSX: CMH) today announced the
newest addition to its line of self-contained solar-powered LED
marine lanterns: the M704-5 GPS lantern. The high-intensity M704-5
GPS lantern combines four to five nautical miles of visibility with
global positioning satellite (GPS) synchronization, enabling any
number of marine lanterns to flash in perfect unison. Built for
performance in harsh weather conditions, the M704-5 GPS can produce
light output in any of IALA's four international chromaticity colors
(green, red, amber or white), and can be programmed with over 200
flash patterns, making it ideal for illuminating aids to navigation,
port entrances, channel markers and more.

According to Simon Proctor, Business Development Manager with
Carmanah's marine division, the new GPS capability offers a
significant advantage in locations where multiple lights are
required. "By flashing together to help mark waterways or
navigational hazards, an installation of GPS-synchronized marine
lights can help improve visibility and make marine navigation easier
and safer," said Proctor. "As an affordable upgrade, the M704-5
lantern's small size, low-maintenance design, and GPS capability
makes it an ideal choice for all types of aids-to-navigation and
hazard marking applications."

The M704-5 GPS High-Intensity Marine Lantern Carmanah's new M704-5
GPS lantern is based on the company's industry-proven M704-5 lantern.
Rated for four to five nautical miles of visibility, the compact
M704-5 GPS lantern produces up to 90 candelas of light output (cyan).
An enhanced proprietary LED optic produces unparalleled light
uniformity and wide vertical divergence for increased visibility and
range under all weather conditions. The M704-5 also offers optional
infrared user programmability, and battery packs that can last up to
five years before replacement.

Carmanah's solar LED marine lights are installed in more than 110
countries around the world, including New York Harbour (USA),
Victoria Harbour (Hong Kong), the Port of London (England), the Port
of Rotterdam (Holland), the Suez Canal (Egypt) and Sydney Harbour
(Australia). For more information about the M704-5 GPS and Carmanah's
full line of solar LED marine lighting products, visit
www.solarmarinelights.com.

[meinolf67]

For Immediate Release:
THURSDAY, November 15, 2007
(No. 2007-11 #32)

CANADIAN COAST GUARD EXTENDS STANDING OFFER FOR CARMANAH SOLAR LED
MARINE LANTERNS

Victoria, British Columbia, Canada - Thursday, November 15, 2007 -
Carmanah Technologies Corporation (TSX: CMH) is pleased to announce a
renewal of the company's standing offer with the Canadian Coast Guard
(CCG), effectively extending its contract to supply the CCG with
solar-powered LED marine lanterns for Canadian aids to navigation by
an additional year. This extended standing offer, valued at up to
$1.3 million, provides CCG representatives with the tools to upgrade
and enhance marine navigational aids with a range of versatile,
self-contained solar-powered LED lanterns — from Carmanah's
multipurpose M601 light, to its top-of-the-line M704-5 marine
lantern.

Carmanah's solar LED marine lanterns use industry-proven technology
to offer a compact, durable and long-lasting alternative to
traditional incandescent-based lanterns. An industry leader in
self-contained solar LED lantern technology, Carmanah has supplied
solar marine lanterns for coast guard aids to navigation since the
late 1990s. Just this year, the company's newest addition, the
high-intensity M704-5 marine lantern received official US Coast Guard
(USCG) approval for federal aids-to-navigation.

Throughout the duration of the standing offer contract, authorized
representatives of the CCG can place call-up orders to purchase
Carmanah solar-powered LED marine lanterns for use on fixed and
floating aids-to-navigation.

About the CCG Marine Aids Modernization (MAM) Project The standing
offer contract is a Canadian Coast Guard initiative under its Marine
Aids Modernization ("MAM") project which began in 1996/97. The MAM
project's purpose was to reduce maintenance expenditures on Canada's
aids-to-navigation system through the use of high-quality equipment
and modern technologies. Specific objectives include:

1. Converting large solar-powered buoys to smaller buoys that could
be regionally maintained by private contractors at a lower cost.

2. Reducing the need for scheduled maintenance on larger buoys by
replacing traditional solar-powered incandescent lighting with
self-contained, solar LED lighting.

3. Ensuring that the Canadian Coast Guard maintains its international
commitment to keeping its marine lights functioning 99% of the time.

While ensuring the continued safety of marine traffic, the MAM
Project has resulted in considerable savings and efficiencies, in
part through the implementation of modern LED lighting technologies —
including thousands of Carmanah's self-contained, solar LED lanterns.

According to Mimi Drabit, Carmanah's Coast Guard Liaison for North
America, the extension of contract reflects the Canadian Coast
Guard's continued satisfaction with the quality, performance and
value of Carmanah's marine lanterns. "We're very pleased to continue
working with the CCG to upgrade Canada's aids to navigation using
industry-proven solar LED technology," said Drabit. "Although
Carmanah products are widely used all over the world, it's great to
see this Canadian technology used so effectively within our own
national waterways."

Carmanah's solar LED marine lights are installed in more than 110
countries around the world, including New York Harbour (USA),
Victoria Harbour (Hong Kong), the Port of London (England), the Port
of Rotterdam (Holland), the Port of St. John's (Canada), the Suez
Canal (Egypt) and Sydney Harbour (Australia).

For more information on Carmanah's solar LED marine lighting
products, visit www.solarmarinelights.com.

[meinolf67]

CARMANAH ANNOUNCES FINANCIAL RESULTS FOR Q3 2007

Victoria, British Columbia, Canada - Wednesday, November 14, 2007 -
Carmanah Technologies Corporation (TSX: CMH) announces its results
for the nine months ended September 30, 2007.

Download financial results:
www.carmanah.com/documents/news_releases/071114_CarmanahRelease.pdf

HIGHLIGHTS FOR THE QUARTER

- Cash: $1.4 million and no bank debt

- Revenue: $15.4 million (unchanged from Q2 2007 and compares with
$17.5 million achieved in Q3 2006). Year-to-date revenue of $46.0
million (unchanged from the same nine month period in 2006)

- Sales order backlog: $5.9 million going into Q4 2007 (improved from
$4.5 million at the end of Q3 2007, and compares with $6.4 million at
the end of Q3 2006)

- Gross margin: 30.6% for Q3 2007 and 28.5% for nine months ended
September 30, 2007

-EBITDA: ($0.7) million for Q3 2007 and ($5.0) million for nine
months ended September 30, 2007

- Net earnings (loss): ($0.8) million for Q3 2007 and ($4.3) million
for nine months ended September 30, 2007

SUMMARY OF RESULTS

Mr. Ted Lattimore, CEO, said "Since joining Carmanah in mid October,
I have been very impressed with the great people, exciting products,
and tremendous potential of this company; but I'm also starting to
identify some very promising opportunities for change as well. I have
confidence in our technology, our customer relationships, and our
ability to make a big difference in the solar and LED markets — the
challenge ahead is to ensure we focus our resources amidst a range of
opportunities. But first things first, in Q3 2007 we strengthened our
financial position and made significant progress toward a return to
profitability, although despite improved cost and working capital
management, the continued strengthening of the Canadian dollar
relative to the US dollar has affected sales growth and resulted in
continued foreign exchange losses in the quarter. Still, we are
improving efficiency, controlling costs and working together to
prepare the company for an exciting and profitable future."

Mr. Roland Sartorius, CFO, commented "This year has been a
challenging one for Carmanah -- as it has been for many Canadian
companies doing a majority of their business in US dollars. The
significant appreciation in the Canadian dollar has resulted in lower
sales, affected our margins and caused us to incur additional foreign
exchange losses. We are reviewing all aspects of our operations, from
pricing to supply management, and making adjustments where necessary.
We also initiated foreign currency hedging in the quarter, and are
continuing to watch the rate changes daily and act on them
accordingly. During Q3 2007, reductions in the surplus inventory
focus on working capital management and cost-saving initiatives were
among the primary factors that resulted in the generation of $5.4
million in non-cash working capital, leaving Carmanah with a positive
cash balance of $1.4 million, and no debt. Operating expenses have
been stabilized in Q3 2007 ending $1.5 million lower (net of $0.7
million of non-recurring items in Q2 2007) than Q2 2007 and
comparable to operating expenses in Q3 2006. The achievements in Q3
2007, have allowed us to put the company back on a solid footing and
provide a strong base for focused growth."

REVENUES for the three months ended September 30, 2007 were $15.4
million compared to $17.5 million in the prior year. Revenues for the
nine months ended were $46.0 million compared to $46.0 million in the
prior year. The reduction in year-over-year Q3 sales is primarily due
to the decline of the US dollar.

A summary of revenues from each of Carmanah's technology groups is as
follows:

----------

Sales by Group
($ thousands) Three Months Ended September 30,
2007 2006 Change

Solar LED Lighting $ 7,792 $ 8,853 $(1,061)
Solar Power Systems 6,398 7,820 (1,422)
LED Sign Group 1,255 856 399
TOTAL $15,445 $17,529 $(2,084)

Nine Months Ended September 30,
2007 2006 Change

Solar LED Lighting $20,323 $20,075 $ 248
Solar Power Systems 22,301 22,758 (457)
LED Sign Group 3,373 3,128 245
TOTAL $45,997 $45,961 $ 36

----------

EBITA for Q3 2007 was ($0.7) million, compared to $1.1 million for
the same period in 2006. YTD EBITA was ($5.0) million, compared with
$2.0 million for the same period in 2006.

Loss before tax for Q3 2007 was ($1.1) million, compared to $0.8
million for the same period in 2006. YTD loss before tax was ($5.9)
million, compared to $1.3 million for the same period in 2006.

Net earnings/loss for Q3 2007 ($0.8) million, compared to a $0.3
million for same period in the prior year. Net earnings/loss for the
nine months ended September 30, 2007 was ($4.3) million compared to
$0.4 million for the same period in the prior year.

NON-GAAP MEASURES

The Company uses certain non-GAAP measures to assist in assessing its
financial performance. Non-GAAP measures do not have any standardized
meaning prescribed by GAAP and are therefore unlikely to be
comparable to similar measures presented by other companies. One such
non-GAAP measure used for assessing financial performance is earnings
before interest, taxes and amortization (EBITA).

----------

EBITA Reconciliation
Ended September 30 Three Months Nine Months
($ thousands) 2007 2006 2007 2006

Net earnings – as reported $ (765) $ 337 $(4,279) $ 437
Add back (deduct):
Interest Expense 50 0 197 0
Interest Income (18) (42) (80) (61)
Income taxes (311) 490 (1,653) 897
Amortization 295 277 864 790
EBITA $ (749) $1,062 $(4,951) 1,963

----------

PROGRESS DURING THE QUARTER

With improved working capital management, Carmanah's liquidity
position improved over Q2 2007 to end with a cash balance of $1.4
million and no bank debt at the end Q3. Other highlights included:

- August 9, 2007: Carmanah appointed Roland Sartorius as Chief
Financial Officer

- September 24, 2007: Carmanah Introduced its newest innovation, the
EverGEN(tm) line of solar engines, at the Solar Power 2007 conference
in Long Beach, California. Available in five models ranging from 10
to 80 watts in power, the EverGEN solar engine is a self-contained,
solar-powered energy source that provides dependable, high-quality
electricity for lights, sensors, cameras and more — anywhere there's
access to the sun

- October 16, 2007: Carmanah appointed Ted Lattimore as Chief
Executive Officer. This completed Carmanah's new executive suite. Mr.
Ted Lattimore subsequently purchased 385,000 shares through a private
placement

- On November 9, 2007: Art Aylesworth was elected Chairman of
Carmanah's Board, and David Green moved to the Chair of the
Governance Committee

The Company believes that its cash and cash equivalents, short-term
investments, bank credit facilities and cash from improved operations
going forward will be sufficient to satisfy its operating cash
requirements.

CONFERENCE CALL DETAILS

To discuss the Q3 2007 results, Carmanah has scheduled a conference
call for Wednesday, November 14, 2007 at 2:00 pm Pacific time (5:00
pm Eastern time). To access this conference call by telephone, dial
1-888-882-9090 (Canada and US) or 1-403-770-0861 (international)
approximately five to ten minutes before start time. When prompted
for the conference ID, enter 5388629.

A recording of the conference will also be available on Carmanah's
corporate website (www.carmanah.com) within three business days.

ABOUT CARMANAH TECHNOLOGIES CORPORATION

With more than 250,000 installations worldwide, Carmanah is one of
the world's premier suppliers of renewable and energy-efficient
technologies, including solar-powered LED lighting, solar power
systems & equipment and LED illuminated signage.

Carmanah is a technology leader in solar-LED lighting, solar power
systems and LED-illuminated signage. From its headquarters in
Victoria, British Columbia, Canada, Carmanah oversees a network of
branch offices and sales representatives across Canada, the United
States and the United Kingdom. Carmanah is a publicly traded company,
with common shares listed on the Toronto Stock Exchange under the
symbol TSX:CMH. For more information, visit www.carmanah.com.

[meinolf67]

sehr blumig:

For Immediate Release:
THURSDAY, November 22, 2007
(No. 2007-11 #33)

CARMANAH TO REVISE APPROACH TO HOME POWER AND TRANSIT MARKETS

Victoria, British Columbia, Canada - Thursday, November 22, 2007 -
Carmanah Technologies Corporation (TSX: CMH) is taking the first
steps in a renewed and focused approach to a more strategically
defined suite of solar-powered lighting products and solar
power-generating systems. As an initial step, the company that
designed the world's first self-contained solar LED marine lantern is
preparing to move beyond building custom products for the solar home
power market and the highly specialized segment of the Transit
market. According to Ted Lattimore, Carmanah CEO, this step will
allow the company to better focus its resources on providing
industry-leading renewable energy technology throughout its core
markets.

"We're still early into our 100-day plan for aligning the company,"
said CEO Ted Lattimore, "yet these changes appear to be relatively
straight forward. The management and employee base is excited about a
future where growth will target improved revenue, margin and market
share from a portfolio of more closely aligned offerings. We'll shed
some business in order to expand our efforts to lead in selected
markets and compete through differentiated and integrated products
and systems."

According to Lattimore, the business of installing and designing
solar panel energy systems for homes is becoming better addressed by
smaller craftsman organizations and large hardware retailers, while
Carmanah's expertise is ideally suited to the larger industrial and
commercial projects that are projected to become a significant part
of the western world's power requirements. As a result, Carmanah will
shift its focus to distributing standard solar power systems products
to the Home Power market through its established dealer market, and
away from building custom products that are better served by the
smaller craftsman organizations.

The Transit business, which features unique solar powered lighting,
includes a highly specific and customized segment and is forecasted
to continue to do so for the near future. "As such," said Lattimore,
"it is difficult for Carmanah to apply the necessary economies of
scale to profitably grow in the specialized segment of this industry
niche. In the future, we'll place more energy on our emerging General
Illumination portfolio, which is suitable for shelters and remote
situations, but shift from being a provider of highly customized
Transit solutions. The company will continue to monitor the growth
potential of the Transit industry closely."

"Our move from low margin Home Power products and highly customized
Transit products is a case of selective pruning and nurturing in
order to grow and flourish," said Lattimore. "By reducing the time,
investment, and skilled resources that it takes to manage the Home
Power and specialized Transit businesses, we can renew and refresh
our focus on the customers, products and businesses that will be more
responsible for the revenue, margin and market growth of our planned
future," Lattimore stated.

Carmanah's approach to the Home Power and customized Transit markets
will be phased in over the next few months, and the company looks
forward to servicing existing customers and current commitments
within those markets.

To discuss this strategy, Carmanah has scheduled a conference call
for Thursday, November 22, 2007 at 2:00 pm Pacific time (5:00 pm
Eastern time). To access this conference call by telephone, dial
1-888-882-9090 (Canada and US) or 1-403-770-0861 (international)
approximately five to ten minutes before start time. When prompted
for the conference ID, enter 5388629.

A recording of the conference will also be available on Carmanah's
corporate website within three business days. For more information,
visit www.carmanah.com.

[meinolf67]

HAWAII AIRFIELD UPGRADES TAXIWAY LIGHTING SYSTEM
WITH CARMANAH SOLAR-POWERED LED AVIATION LIGHTS

Victoria, British Columbia, Canada - Tuesday, November 27, 2007 -
Carmanah Technologies Corporation (TSX: CMH) has supplied an order
through Goldwings Supply Service Inc. - its authorized distributor in
Hawaii - to provide solar-powered LED (light emitting diode) airfield
lights for a US Department of Defense installation in Hawaii. The
order, valued at approximately $427,000 will enable the airfield to
replace its retro-reflective taxiway markers with bright, wireless
LED lights for a considerable improvement in safety and usability. As
an alternative to battery or generator-powered airfield lights,
Carmanah's solar-powered solution represents a milestone in
innovation as one of the world's largest wireless solar-powered LED
taxiway lighting systems.

With visibility at the remote airfield limited by extremely dark
nighttime conditions and frequent stormy weather, personnel needed a
system of visual navigational aids that could help pilots identify
operating surfaces under any condition. The primary goal was the
enhanced safety of airfield operations at the facility. As a
versatile and economical upgrade, the airfield chose a system of
wireless A704-5 taxiway lights from Carmanah Technologies.

While providing an environmentally friendly lighting solution, the
solar-powered airfield lights offered a cost-effective alternative to
the trenching, cabling and ongoing electricity bills associated with
a hard-wired lighting system. In fact, the hard bedrock in this
location would make drilling and laying electrical cable along the
length of the taxiway a prohibitively expensive and time-consuming
task.

Also, as the salty sea air and ocean spray in this seaside location
is very challenging for outdoor electrical equipment, Carmanah's
wireless lights offered an additional advantage. Self-contained,
watertight and rustproof, the marine-grade solar lights enclose all
components - photovoltaic cells, high-intensity LEDs, rechargeable
batteries, and electronics - within a durable housing machined from
solid aluminum.

For maximum versatility and reliability, a built-in energy management
system automatically aligns light levels with available energy
resources to ensure the lights always have the power they need to
operate. A programmable interface allows the user to set on/off
times, brightness levels, flash patterns and more. For remote
operation, a secure remote control allows aircrews to control the
lights from the tower, the tarmac, or the aircraft.

A revolutionary new optical lens, combined with dual-mode LEDs that
can be switched from visible to infrared mode (for night vision
goggles), provide exceptionally bright, high-intensity lighting
suitable for all types of applications, including overt or covert
operations. Because they're portable, the lights can also be
relocated wherever they're needed most, making them a valuable asset
for temporary illumination during natural disasters or other
emergency situations. With the A704-5 aviation lights in place, the
illuminated taxiway can also provide a safe landing spot for
helicopters around the clock.

Offering a quick and easy installation, versatile operation, no
electricity bills, and no scheduled maintenance for up to five years,
the solar-powered lighting system offers an affordable and effective
way to improve airfield safety for many years to come.

Carmanah's solar-powered LED aviation lights are installed at some of
the world's busiest airports, including Chicago O'Hare International
Airport, Dubai International Airport, Gatwick International Airport,
Milan International Airport, Singapore Changi International Airport
and Toronto Pearson International Airport. For more information,
visit www.solarairportlights.com. For more information on Goldwings
Supply Service Inc., visit www.goldwings-supply.com. Goldwings is a
native Hawaiian women-owned and operated small business.

[meinolf67]

NEWS RELEASES

HAWAII AIRFIELD UPGRADES TAXIWAY LIGHTING SYSTEM WITH CARMANAH
SOLAR-POWERED LED AVIATION lIGHTS

(November 27, 2007) Carmanah has supplied an order through Goldwings
Supply Service Inc. - its authorized distributor in Hawaii - to
provide solar-powered LED (light emitting diode) airfield lights for
a US Department of Defense installation in Hawaii. The order, valued
at approximately $427,000 will enable the airfield to replace its
retro-reflective taxiway markers with bright, wireless LED lights for
a considerable improvement in safety and usability. As an alternative
to battery or generator-powered airfield lights, Carmanah's
solar-powered solution represents a milestone in innovation as one of
the world's largest wireless solar-powered LED taxiway lighting
systems...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=071127-1


CARMANAH TO REVISE APPROACH TO HOME POWER AND TRANSIT MARKETS

(November 22, 2007) Carmanah is taking the first steps in a renewed
and focused approach to a more strategically defined suite of
solar-powered lighting products and solar power-generating systems.
As an initial step, the company that designed the world's first
self-contained solar LED marine lantern is preparing to move beyond
building custom products for the solar home power market and the
highly specialized segment of the Transit market. According to Ted
Lattimore, Carmanah CEO, this step will allow the company to better
focus its resources on providing industry-leading renewable energy
technology throughout its core markets...

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071122


CANADIAN COAST GUARD EXTENDS STANDING OFFER FOR CARMANAH
SOLAR LED MARINE LANTERNS

(November 15, 2007) Carmanah is pleased to announce a renewal of the
company's standing offer with the Canadian Coast Guard (CCG),
effectively extending its contract to supply the CCG with
solar-powered LED marine lanterns for Canadian aids to navigation by
an additional year. This extended standing offer, valued at up to
$1.3 million, provides CCG representatives with the tools to upgrade
and enhance marine navigational aids with a range of versatile,
self-contained solar-powered LED lanterns - from Carmanah's
multipurpose M601 light, to its top-of-the-line M704-5 marine
lantern...

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071115


CARMANAH ANNOUNCES FINANCIAL RESULTS FOR Q3 2007

(November 14, 2007) Carmanah announced its results for the nine
months ended September 30, 2007. Highlights for the quarter:
- Cash: $1.4 million and no bank debt
- Revenue: $15.4 million (unchanged from Q2 2007 and compares with
$17.5 million achieved in Q3 2006). Year-to-date revenue of $46.0
million (unchanged from the same nine month period in 2006)
- Sales order backlog: $5.9 million going into Q4 2007 (improved from
$4.5 million at the end of Q3 2007, and compares with $6.4 million at
the end of Q3 2006)
- Gross margin: 30.6% for Q3 2007 and 28.5% for nine months ended
September 30, 2007
- EBITDA: ($0.7) million for Q3 2007 and ($5.0) million for nine
months ended September 30, 2007
- Net earnings (loss): ($0.8) million for Q3 2007 and ($4.3) million
for nine months ended September 30, 2007

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071114


SOLAR LED MARINE LANTERN ADDS GPS FOR SYNCHRONIZED FLASHING

(November 5, 2007) Carmanah announced the newest addition to its line
of self-contained solar-powered LED marine lanterns: the M704-5 GPS
lantern. The high-intensity M704-5 GPS lantern combines four to five
nautical miles of visibility with global positioning satellite (GPS)
synchronization, enabling any number of marine lanterns to flash in
perfect unison. Built for performance in harsh weather conditions,
the M704-5 GPS can produce light output in any of IALA's four
international chromaticity colors (green, red, amber or white), and
can be programmed with over 200 flash patterns, making it ideal for
illuminating aids to navigation, port entrances, channel markers and
more...

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071105


CARMANAH AWARDED $600,000 CONTRACT FOR SOLAR-POWERED PORTABLE
AIRFIELD LIGHTING SYSTEMS IN SINGAPORE

(October 30, 2007) Carmanah has received an order through Power Force
Technologies Pte Ltd. - its authorized distributor in Singapore - to
supply solar-powered portable airfield lights for use throughout the
Republic of Singapore. The order, valued at approximately $600,000,
will support emergency preparedness efforts by providing the
capability to quickly install complete airfield lighting systems,
wherever they're required. As an alternative to battery or
generator-powered portable airfield lighting systems (PALS),
Carmanah's solar-powered technology is leading the way to the world's
first radio-controlled portable solar-powered airfield lighting
system...

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=071029

---------------------------

SALES UPDATES

Irrigation District Powers Water Flow Stations with Solar Energy
(November 22, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071116

Solar-Powered Area Lighting Illuminates Mexico City Park
(November 20, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071114-2

Carmanah Showcases EverGEN Solar Engine at CANSIA Solar Conference
2007 in Toronto
(November 19, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071119

Carmanah Helipad Lights Enhance Airfield Safety in Somalia
(November 15, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071115-1

Carmanah Supplies EvenLit Acrylic Sheet to LED Menu Board Manufacturer
(November 14, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071114-1

Nigerian Airport Upgrades Taxiways with Solar-Powered Airfield Lights
(November 13, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071109-1

LED Signs from Carmanah Light up Greece's Leading Casino
(November 02, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071102

Carmanah Installs First Solar-Powered Ferry Stop
(November 02, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071031

San Diego Vehicle Detection Systems Use Stand Alone Solar Power
(October 26, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071025

City of Montreal Installs Solar-Powered LED Warning Flashers
(October 26, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071018

Carmanah Supplies Signs to World's Largest Casino
(October 24, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071024

Carmanah Solar Warning Flashers Enhance Driver Safety in New Jersey
(October 18, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071018-1

Carmanah Receives Additional Order for LED Edge-Lit Signs for Major
North American Consumer Electronics Company
(October 12, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071012

US Air Force Installs Solar-Powered Infrared Airfield Lights
(October 12, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071011-1

Solar-Powered Beacons Enhance Pedestrian Safety in Caribbean Resort
Town
(October 11, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071011

For more information on these and other sales updates, visit
www.carmanah.com/content/investors/salesupdates.aspx

--------------------------

RECENT MEDIA COVERAGE

Nov 26 - Vancouver Sun - "Carmanah Technologies named BC Exporter
of the Year"

Oct 31 - Corporate Knights - "First Annual Corporate Knights Ranking"

Oct 25 - Globe and Mail - "New index grades Canadian firms for clean
technology, business savvy"

For more media clippings, visit
www.carmanah.com/content/investors/mediaclippings.aspx

---------------------------

AWARDS AND RECOGNITION

"2007 Environmental Award" BC Aviation Council
(November 26, 2007) Carmanah received the 2007 Environmental Award
from the BC Aviation Council at the 2007 Silver Wing Awards Banquet
in Vancouver BC.

"2007 BC Exporter of the Year" Canadian Manufacturers & Exporters
(November 24, 2007) Carmanah Technologies Corp. received top honors
at the 2007 B.C. Export Awards when the company was recognized as
B.C.'s Exporter of the Year.

"2007 Arbor Vitae Awards" British Columbia Ministry of the Environment
(November 14, 2007) Carmanah founder David Green was one of six
outstanding British Columbians selected to receive the 2007 Arbor
Vitae Awards in recognition of their dedication to environmental
protection and stewardship.

"2007 NRC-IRAP Award for New Technology" NRC-IRAP / Canadian
Manufacturers & Exporters
(November 01, 2007) Carmanah Technologies was named 2007 NRC-IRAP
Award winner for New Technology in the BC/Yukon Region.

"2007 Cleantech 10" Corporate Knights
(October 31, 2007) Corporate Knights names Carmanah among the top ten
publicly traded Cleantech companies in Canada.


For more information on Carmanah's awards and recognition, visit
www.carmanah.com/content/company/awards.aspx

--------------------------

TESTIMONIALS

Recent testimonials relating to Carmanah's Aviation Lighting Division:

"Our experience with Carmanah time after time solidifies our choice
to make you our preferred vendor for airport-related safety
equipment. From fair quotes on product purchases to timely delivery
of product to great customer service - we have no complaints and
plenty of compliments. Carmanah is truly a great partner for Boulder
City. So great, that our Public Works Department is looking to use
other Carmanah products for remote lighting solutions within our
community..."
Boulder City Municipal Airport

"...Don't take this lightly when I say that these lights are one of
the very best products that I've had the opportunity to test and use.
Please pass along my thanks to your co-workers and let them know that
their part in manufacturing these lights is very much appreciated and
the care and quality that they have put into them has not gone
unnoticed..."
Feed The Children, Inc.

"...Thank you for your enthusiastic and energetic efforts in
demonstrating your range of solar-powered aviation lights to the SAPS
Air Wing. The outstanding quality has been acknowledged and praised
by the air crews and ground personnel alike..." (Directed to
Carmanah's authorized distributor, Vincent Joubert)"
South African Police Service, South Africa

"Once all the taxiways lights were installed the kudos from the pilot
community started. I have heard nothing but positive comments such as
"These lights are better than the ones at Reno," and "These lights
are so cool." In closing I just want to thank all of the folks at
Carmanah that provided the solution to the Truckee Tahoe Airport's
lighting problem. If you ever have need of using our facility as a
demonstration project don't hesitate to call."
Truckee Tahoe Airport, CA


To review more customer feedback, visit
www.carmanah.com/content/products/testimonials/

------- END OF UPDATE -------

[JoergP]

Antwort auf Beitrag Nr.: 31.772.303 von meinolf67 am 28.09.07 09:37:31

Wie ist momentan Deine Einschätzung zu Carmanah?
Die Mitteilungen über neue Aufträge in letzter Zeit machten so ein wenig den Eindruck, als ob sie jeden Auftrag vermelden würden und krampfhaft bemüht wären, etwas mitzuteilen... aber wie bedeutsam die Verträge jeweils waren, ob sie damit grosse Gewinne machen, etc. pp. ist ja nicht immer leicht zu durchschauen.

Als Du vor 2 Monaten geschrieben hattest "In anderen Fällen war so eine Kursentwicklung aber auch schon mal Vorbote eines Konkurses." war ich ja noch verhalten optimistisch. Aber jetzt bin ich absolut nicht mehr sicher.

Sind das momentan genial günstige Einstiegskurse oder ist die Firma kurz vor dem Ende?

[meinolf67]

Antwort auf Beitrag Nr.: 32.701.659 von JoergP am 07.12.07 22:38:04

Du solltest Dir die beiden letzten CC's vom 14.11. und 22.11. anhören.

Sie haben ein komplett neues Managementteam: Lattimore, Favreau, Sartorius.

Zuvor war jeder Fokus verlorengegangen (ähnlich wie bei Conergy).

Jetzt wollen Sie sich die Rosinen rauspicken und kontinuierlich profitabel wachsen. Aber das wollen ja irgendwie alle...

Zu konkreten Fragen hinsichtlich Liquidität haben sie gesagt, sie müßten beim aktuellen Stand NICHT an den Kapitalmarkt gehen; man wolle erstmal wieder zeigen, dass man es könne. Der Analyst sagte: "nobody wants dilution at this price level"...

Für mich persönlich ist es noch zu früh, möchte erst echte Besserungszeichen erkennen; dass einem der Kurs vorher wegläuft glaube ich eher nicht, da die Bude inzwischen under-followed sein dürfte.

Wenn ich eine Meinung habe, werde ich sie hier posten.

[meinolf67]

For Immediate Release:
WEDNESDAY, January 2, 2008
(No. 2008-01 #01)

CARMANAH DIVESTS OF SOLAR HOME POWER INVENTORY AND RELATED
OBLIGATIONS
AS PART OF RENEWED FOCUS

Victoria, British Columbia, Canada - January 2, 2008 - Carmanah
Technologies Corporation (TSX: CMH) is pleased to announce that the
Company and Mr. David Egles have signed a definitive agreement
whereby Mr. Egles has purchased the inventories and other assets of
Carmanah's solar home power business. This transaction follows
Carmanah's announcement on November 22, 2007 declaring the Company's
plan to narrow its focus. Mr. Egles has resigned as a member of the
Carmanah Board of Directors in order to pursue this opportunity as a
private business. The transaction was accepted and ratified by
Carmanah's Board of Directors, with a closing date of December 28,
2007.

According to the agreement, David Egles, or an incorporated company
controlled by him, will pay $1.5M to Carmanah Technologies
Corporation with $1.15M attributed to Carmanah's solar home power
inventory and $350k for equipment and fittings at the business's
leased facility in Barrie, Ontario as well as access to marketing
material, customer and vendor lists, and an amendment to his
non-compete agreement that permits him to return only to the solar
home power business.

The $1.5M deal includes cash payments of $500K and a common share
buy-back by Carmanah of $1M of the Company's shares owned by Mr.
Egles. A payment of $200K was paid by Mr. Egles in cash on December
28, 2007. A further $1M equivalent in common shares (calculated using
a deemed per common share market price equal to the simple average of
the closing price of the common shares on the Toronto Stock Exchange
for each of the last 20 business days) will be purchased by the
company from Mr. Egles on January 9, 2008. A final cash payment of
$300K will be paid by him on March 15, 2008. Following the
transaction, Mr. Egles will maintain an equity position in Carmanah,
representing approximately 1% of the total common shares outstanding.

According to Carmanah CEO Ted Lattimore, this arrangement offers an
attractive outcome for all stakeholders. "As Carmanah's new strategic
direction no longer includes the home power market, we're pleased to
see this arrangement in place," said Lattimore. "It's a great
opportunity for Dave to remain involved in a market in which he has
played a large role over the past 20 years, and it's also an easy
transition for home power customers looking for smaller scale
solutions for their home or cottage. Lastly, by selling the assets
and obligations of our home power division, we can efficiently and
effectively recapture and redirect our capital to our core strategic
markets," added Lattimore. "All of this helps in our commitment to
deliver quality solar-powered technology, while continuing to grow
revenue, margin and market share from a portfolio of more closely
aligned offerings. This transaction does not restrict Carmanah from
re-entering the solar home power market at any point in the future."

[meinolf67]

..leider keine angaben zu Ergebnisauswirkungen...

schätze mal nicht, dass sie Gewinn gemacht haben...

[JoergP]

Antwort auf Beitrag Nr.: 32.915.845 von meinolf67 am 02.01.08 15:50:39

Aber ist dieser Schritt logisch?
Gerade der "Homepower Market" ist doch wohl in Nordamerika in der nahen bis mittleren Zukunft ein gigantischer Wachstumsmarkt?!

Naja, ich habe mich von Carmanah im Dezember auch verabschiedet. Werde die Aktie nicht mehr ganz so intensiv beobachten.

[meinolf67]

Antwort auf Beitrag Nr.: 32.921.171 von JoergP am 02.01.08 23:00:59

Die Frage ist aber imer auch, wie profitabel.

Und anders als die regulated verticals sehe ich Homepower eher als commodity-Markt.

Guck' Dir mal die Profitabilität von Akeena an.

[meinolf67]

For Immediate Release:
MONDAY, January 7, 2008
(No. 2008-01 #02)

CARMANAH SIGNS ENVIROMENA TO DISTRIBUTE SOLAR TECHNOLOGY THROUGHOUT
THE MIDDLE EAST AND NORTH AFRICA

Victoria, British Columbia, Canada - January 7, 2008 - Carmanah
Technologies Corporation (TSX: CMH) has entered into a strategic
alliance agreement with Enviromena Power Systems LLC, an Abu
Dhabi-based alternative energy systems integrator. As a distributor
of solar power products and consulting services, Enviromena will
provide Carmanah's solar power solutions from its offices in Abu
Dhabi and Dubai to its customers throughout the wider Middle East and
North Africa (MENA) region. With representation around the world,
Carmanah is a global designer and manufacturer of renewable and
energy-efficient technologies including solar-powered LED lighting,
solar power systems, and LED-illuminated edge-lit signage.

As an integrator of alternative energy systems, Enviromena uses
renewable energy technology and environmentally friendly design
strategies to help its customers control energy costs and reduce
their dependency on the electric grid. Enviromena's services include
solar system design, engineering consulting, supply, installation and
long-term maintenance. Through its distribution agreement with
Carmanah, Enviromena can complement its expertise in the alternative
energy market with Carmanah's award-winning, state of the art solar
power technology, including a line of industrial grid-tie and
off-grid solar power products.

According to Roland Sartorius, Corporate Financial Officer for
Carmanah Technologies, this distribution agreement offers
considerable advantages to both companies and their customers
throughout the Middle East and North Africa. "We're very pleased to
work with Enviromena in providing high-quality solar power technology
throughout the region," said Sartorius. "As a local business
specializing in renewable energy technology specific to this
environment, Enviromena offers the same level of expertise,
professionalism, and customer-focused services our customers have
come to expect from Carmanah. We look forward to helping Enviromena
provide it customers with access to a growing range of top-quality
solar power solutions."

[meinolf67]

IN THIS ISSUE

- Carmanah Divests of Solar Home Power Inventory and Related
Obligations as Part of New Focus
- Carmanah Signs Enviromena to Distribute Solar Technology throughout
the Middle East and North Africa
- California Air Quality Monitoring System Equipped with
Pollution-Free Solar Power
- Rush Order of Carmanah Flashing Beacons Helps Enhance Highway
Safety in Oregon
- Liverpool Airport Creates New Taxiway with Carmanah Solar
Taxiway Lights
- Carmanah's Solar Taxiway Lights Go Tropical
- Game Developer chooses Carmanah Signs for UK Product Launch

Plus sales updates, media coverage, awards and testimonials

CONTACT CARMANAH

Do you have any questions or comments? Contact Carmanah at
[e-mail], call 1.877.722.8877 (toll-free in US &
Canada) or +1.250.380.0052 (worldwide).

-----------------------------

NEWS RELEASES

CARMANAH SIGNS ENVIROMENA TO DISTRIBUTE SOLAR TECHNOLOGY THROUGHOUT
THE MIDDLE EAST AND NORTH AFRICA

(January 7, 2008) Carmanah has entered into a strategic alliance
agreement with Enviromena Power Systems LLC, an Abu Dhabi-based
alternative energy systems integrator. As a distributor of solar
power products and consulting services, Enviromena will provide
Carmanah's solar power solutions from its offices in Abu Dhabi and
Dubai to its customers throughout the wider Middle East and North
Africa (MENA) region...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080107


CARMANAH DIVESTS OF SOLAR HOME POWER INVENTORY AND RELATED
OBLIGATIONS AS PART OF NEW FOCUS

(January 3, 2008)Carmanah is pleased to announce that the company and
Mr. David Egles have signed a definitive agreement whereby Mr. Egles
has purchased the inventories and other assets of Carmanah's solar
home power business. This transaction follows Carmanah's announcement
on November 22, 2007 declaring the company's plan to narrow its
focus. Mr. Egles has resigned as a member of the Carmanah Board of
Directors in order to pursue this opportunity as a private business.
The transaction was accepted and ratified by Carmanah's Board of
Directors, with a closing date of December 28, 2007...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080102


---------------------------

SALES UPDATES

US Army Enhances Helipad Safety with Carmanah Solar Aviation Lights
(January 2, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080102-1

California Air Quality Monitoring System Equipped with Pollution-Free
Solar Power
(December 19, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071212-1

Carmanah Solar Area Lights and Flashing Beacons Increase Crosswalk
Safety
(December 18, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071212

Rush Order of Carmanah Flashing Beacons Helps Enhance Highway Safety
in Oregon
(December 12, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071128-1

Carmanah Solar Area Lights Illuminate Remote Nevada Roadway
(December 11, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071211

Liverpool Airport Creates New Taxiway with Carmanah Solar Taxiway
Lights
(December 7, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071128

Carmanah's Solar Taxiway Lights Go Tropical
(December 5, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071127

Game Developer chooses Carmanah Signs for UK Product Launch
(November 29, 2007)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=071129


For more information on these and other sales updates, visit
www.carmanah.com/content/investors/salesupdates.aspx

--------------------------

RECENT MEDIA COVERAGE

Jan 03 - The Globe and Mail - "Carmanah Unloads Consumer Solar Unit"

December - Port Technology Magazine - "Solar Marine Lanterns Offer
Big Benfits in a Small Package"

For more media clippings, visit
www.carmanah.com/content/investors/mediaclippings.aspx


------- END OF UPDATE -------

[meinolf67]

For Immediate Release:
MONDAY, February 11, 2008
(No. 2008-02 #03)

CARMANAH PROVIDES BUSINESS UPDATE: STRATEGIC REVIEW COMPLETED

Victoria, British Columbia, Canada - Febuary 11, 2008 - Carmanah
Technologies Corporation (TSX: CMH) is providing this business update
ahead of its results for the year ended December 31, 2007 to confirm
that a strategic review of the company, as previously announced by
Ted Lattimore, Chief Executive Officer, has been completed.
Carmanah's strategic review has resulted in the company now being
structured around two business segments that will help define the
optimal structure for the company going forward:

- Strategic: includes the primary business units of LED lights
and beacons and solar power systems for industrial and grid-tie
applications. These units will be the main focus of the company
going forward over the long term.

- Tactical: includes business units such as energy-efficient LED
edge-lit signage and solar component distribution. These units are
important today and are generally stand-alone growth opportunities.

According to Ted Lattimore, the optimal go forward business strategy
will emphasize the company's key revenue-producing activities while
accommodating other complementary profitable opportunities.
"Carmanah's primary business is solar-powered technology, and we've
earned a great reputation over the years for delivering innovative,
long-lasting products for a number of markets. As new opportunities
arise in the areas of solar lighting and solar power, as well as
other energy-efficient technologies, it is important to consider
their possible benefits to our technology and to our customer needs.
But for us at this time, it is important to concentrate on our areas
of expertise and profitability, and focus our efforts on delivering
the best solar LED and solar power technology available. We will
continue to develop innovative and profitable technologies such as
the popular LED sign technology, but for 2008 and onward, the key
words are customer-centric focus," said Lattimore.

Fiscal 2007 was a year of transition for the company, a year that
combined surplus inventory challenges with unfavourable foreign
exchange rates, but it was also a year that welcomed a new executive
team of proven business professionals to the roles of CEO, CFO and
COO. "Due to the challenges experienced by the company throughout
this year of transition, the first priority of the new management
team was to end 2007 with a solid balance sheet that would provide a
platform from which the new business strategy could be executed,"
stated Roland Sartorius, Chief Financial Officer. As a result, for
December 31, 2007, Carmanah expects to report a balance sheet that
includes upward of $4 million in cash, inventory balances reduced to
a range of between $10-11 million and no bank debt. Further,
management has reviewed balance sheet accounts and recorded
provisions including a write down of Goodwill. Based on preliminary
data, revenues for fiscal 2007 are expected to be in the range of
$58-60 million. Gross margins are expected to end up in the 25-27%
range, lower than normal, primarily due to the foreign exchange and
surplus inventory issues in 2007 and increased provisions that were
recorded. Consequently, the net loss before tax for 2007 is
anticipated to end up at approximately $10 million. Carmanah expects
to release 2007 results on March 11, 2008.

"With Carmanah's strategic review now complete and new business
strategy in effect, the company looks forward to a disciplined,
focused year ahead," concluded Ted Lattimore. Carmanah will discuss
the new business strategy with analysts over the next two weeks, and
provide a more detailed discussion when the 2007 results are released.

[meinolf67]

WEDNESDAY, February 13, 2008
(No. 2008-02 #04)

CARMANAH PROVIDES SOLAR LED AVIATION LIGHTS FOR AIRFIELD UPGRADES IN
UNITED ARAB EMIRATES

Victoria, British Columbia, Canada, February 13, 2008, Carmanah
Technologies Corporation (TSX: CMH) has received an order through
Dubai-based GESOLAR — the company's authorized aviation distributor
in the United Arab Emirates (UAE) — to supply solar-powered portable
airfield lights for privately owned airfield applications within the
region. The order, valued at more than $600,000, provides the tools
to enhance visibility and safety at remote airfields using
energy-efficient LED (light emitting diode) beacons powered by clean,
cost-effective solar energy.

Carmanah's solar-powered LED airfield lights provide a wireless
lighting alternative that is cost-effective, energy efficient, and
easy to install wherever it's needed. With no trenching or cabling
required, a two-person crew can install a temporary runway lighting
system in less than an hour, or create a permanent installation in a
single day. Free from any need for wiring, cables, generators, fuel
or electrical grid access, Carmanah's remote-controlled airfield
lights offer unparalleled convenience, reliability and performance.

For this upgrade, the order includes Carmanah's A704-5 runway edge
lights, approach lights and threshold lights, as well as A601 taxiway
lights. The order also includes the mounting hardware used to install
the elevated runway edge lights, and wireless handheld radio remote
control equipment for operating the lights through secure wireless
communications from the ground or the air. For maximum versatility
and reliability, the A704-5 lights include Carmanah's built-in energy
management system that automatically aligns light levels with
available energy resources to ensure the lights always have the power
they need to operate effectively. A programmable interface allows the
user to set on/off times, brightness levels, flash patterns, infrared
or visible outputs and more.

According to Chris Zegger-Murphy, Business Development Manager for
Carmanah's Aviation business unit, the order underscores an increased
interest in solar aviation technology throughout the UAE and around
the world. "Solar aviation lights offer significant advantages over
traditional systems whether an airfield has access to grid power or
not. But in remote locations where the nearest source of reliable
grid-based electricity can be hundreds of miles away, it's really an
attractive alternative," said Zegger-Murphy. "Solar aviation lights
are automated, durable, reliable and very effective, and with the
wireless capability of the new A704-5 light, they're more convenient
than ever. It's a sound investment for all types of airfield
applications."

Carmanah is one of the largest suppliers of self-contained solar LED
airfield lights in the world. The company's advanced airfield lights
have been field-proven to endure challenging environmental conditions
including extreme temperatures, poor solar conditions, sandstorms,
and flooding. With thousands of systems in operation, Carmanah
provides the tools for a full range of airfield applications,
including permanent primary lighting, temporary lighting during
airfield construction or upgrades, emergency backup lighting, as well
as expedited portable lighting during emergency or humanitarian aid
operations.

Carmanah solar LED aviation lights are available now from Carmanah
Technologies Corporation. For more information, visit
www.solarairportlights.com.

[meinolf67]

N THIS ISSUE

- Carmanah Provides Solar LED Aviation Lights for Airfield Upgrades
in United Arab Emirates
- Carmanah Provides Business Update: Strategic Review Completed
- Major US Department Store Installs Carmanah Flashing Beacons
- Madeira Island Illuminates Buoys with Carmanah 701 Marine Lanterns
- Busy Portuguese Port Installs Carmanah 702-GPS Solar Marine
Lanterns
- Carmanah Stop Sign Beacons Improve Safety on Rural Roads

Plus sales updates, media coverage, awards and testimonials

CONTACT CARMANAH

Do you have any questions or comments? Contact Carmanah at
[e-mail], call 1.877.722.8877 (toll-free in US &
Canada) or +1.250.380.0052 (worldwide).

-----------------------------

NEWS RELEASES

CARMANAH PROVIDES SOLAR LED AVIATION LIGHTS FOR AIRFIELD UPGRADES IN
UNITED ARAB EMIRATES

(February 13, 2008) Carmanah has received an order through
Dubai-based GESOLAR - the company's authorized aviation distributor
in the United Arab Emirates (UAE) - to supply solar-powered portable
airfield lights for privately owned airfield applications within the
region. The order, valued at more than $600,000, provides the tools
to enhance visibility and safety at remote airfields using
energy-efficient LED (light emitting diode) beacons powered by clean,
cost-effective solar energy...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080213


CARMANAH PROVIDES BUSINESS UPDATE: STRATEGIC REVIEW COMPLETED

(February 11, 2008) Carmanah provided this business update ahead of
its results for the year ended December 31, 2007 to confirm that a
strategic review of the company, as previously announced by Ted
Lattimore, Chief Executive Officer, has been completed. Carmanah's
strategic review has resulted in the company now being structured
around two business segments that will help define the optimal
structure for the company going forward:
- Strategic: includes the primary business units of LED lights and
beacons and solar power systems for industrial and grid-tie
applications. These units will be the main focus of the company
going forward over the long term.
- Tactical: includes business units such as energy-efficient LED
edge-lit signage and solar component distribution. These units
are important today and are generally stand-alone growth
opportunities.

According to Ted Lattimore, the optimal go forward business strategy
will emphasize the company's key revenue-producing activities while
accommodating other complementary profitable opportunities...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080211


---------------------------

SALES UPDATES

Site Enhancement: Investor-specific RSS News Feed Added to
Carmanah.com
February 4, 2008)
www.carmanah.com/content/siteinfo/rss.aspx

Carmanah Reveals the New Mobile Power Guide
(January 25, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080125-2

Major US Department Store Installs Carmanah Flashing Beacons
(January 25, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080125-1

Carmanah Stop Sign Beacons Improve Safety on Rural Roads
(January 25, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080125

Madeira Island Illuminates Buoys with Carmanah 701 Marine Lanterns
(January 23, 2008)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=080117-2

Busy Portuguese Port Installs Carmanah 702-GPS Solar Marine Lanterns
(January 9, 2008)
www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=080117-1

Site Enhancement: a New Media Downloads Section Has Been Added to
Carmanah.com
(January 9, 2008)
www.carmanah.com/content/company/mediadownloads.aspx


For more information on these and other sales updates, visit
www.carmanah.com/content/investors/salesupdates.aspx

--------------------------

RECENT MEDIA COVERAGE

Feb 12 - The Globe and Mail - "In recovery plan, Carmanah narrows
product focus"

Jan-Feb - Airport International - "Portable Runway Lights"

For more media clippings, visit
www.carmanah.com/content/investors/mediaclippings.aspx


------- END OF UPDATE -------

[meinolf67]

MONDAY, March 3, 2008
(No. 2008-03 #05)

CARMANAH TO SUPPLY NEW JERSEY LOTTERY WITH LED-ILLUMINATED SIGNAGE

VICTORIA, BRITISH COLUMBIA, CANADA [March03,2008] Carmanah
Technologies Corporation (TSX: CMH) today announced a two-year
contract to supply the State of New Jersey's Lottery Division with
LED edge-lit signage. The contract, valued at up to $500,000, extends
from March 1, 2008 until February 28, 2010. Under the terms of the
contract, Carmanah will provide custom edge-lit hanging window signs
and instant ticket dispenser signs that will be used to help New
Jersey Lottery retailers promote the sales of both instant ticket and
online lottery tickets throughout the state. This order follows a
previous contract from 2006 to supply up to $336,000 in signs, and an
order from 2005 for 1,000 edge-lit signs.

As an alternative to traditional signage, Carmanah's edge-lit signs
use bright, energy-efficient LEDs (light emitting diodes) for an
eye-catching illuminated display that's durable, long lasting and
cost effective. Carmanah's edge-lit signs feature a number of
technical innovations and competitive advantages that distinguish
them from other LED edge-lit products, including a slim versatile
design, exceptionally bright illumination, crisp image detail, and
durable shatterproof construction.

For nearly forty years, the New Jersey Lottery has helped raise
revenue for education and institutions throughout the state. In 2007,
the lottery provided $828.3 million in funding for community
colleges, Department of Human Services, Department of Military and
Veterans Affairs, Department of Agriculture School Nutrition Program,
and the Marie Katzenbach School for the Deaf.

In addition to lottery signage, Carmanah provides edge-lit signs for
a range of applications, including architectural, point of purchase,
gaming, street name and traffic signs. For more information on
Carmanah's edge-lit signs, visit http://www.edgelitsigns.com/.

[meinolf67]

CARMANAH ANNOUNCES RELEASE DATE FOR 2007 ANNUAL FINANCIAL RESULTS AND
CONFERENCE CALL

VICTORIA, BRITISH COLUMBIA, CANADA (March 4, 2008) Carmanah
Technologies Corporation (TSX: CMH) plans to release its annual
financial results for 2007 on Tuesday, March 11, 2008 at 1:00 pm PT
(4:00 pm ET).

To discuss the 2007 results, Carmanah has scheduled a conference call
for 2:00 pm PT (5:00 pm ET) that day. To access this conference call
by telephone, dial 1.888.882.9090 (Canada and US) or +1.403.770.0861
(international) approximately five to ten minutes before start time.
When prompted for the conference ID, enter 5161786.

A recording of the conference will also be available on Carmanah's
corporate website within three business days. For more information,
visit www.carmanah.com.

[meinolf67]

CARMANAH ANNOUNCES FINANCIAL RESULTS FOR 2008

VICTORIA, BC, CANADA - (March 11, 2008) - Carmanah Technologies
Corporation (TSX: CMH) today announced its financial results for the
years ended December 31, 2007 and 2006.

Highlights for 2007

- Sales of $59.0 million for 2007, down 5.1% from $62.2 million in
2006
- Gross margin of 26.4% for 2007, down from 32.6% in 2006
- Net loss of ($8.9) million for 2007 compared to ($0.4) million in
2006
- EBITA of ($9.6) million for 2007 compared to $1.6 million in 2006
- Positive cash flow from operations of $2.0 million, compared to a
negative operating cash flow in 2006 of ($8.4) million
- Ended the year with net cash of $4.1 million

Summary of Q4 2007

- Sales of $13.0 million for the quarter, compared with $16.2 million
in same period in 2006
- Gross margin of 18.8% for the quarter, down from 28.2% in same
period in 2006
- Net loss of ($4.6) million for the quarter, compared to ($0.8)
million in same period in 2006
- EBITA of ($4.6) million for the quarter, compared to ($0.4) million
in same period in 2006
- Positive cash flow from operations of $2.1 million in the quarter,
compared to a negative operating cash flow in 2006 of ($3.8) million
- Ended the quarter with net cash of $4.1 million

To view full financials, please visit:
www.carmanah.com/content/investors/financialreports.aspx.

EXECUTIVE OVERVIEW

According to Ted Lattimore, Carmanah's new CEO, 2007 was a year of
transition, replete with challenges that helped the company assess
its strengths, and sharpen its focus for a more disciplined and
profitable year ahead. "Over the past few months we've implemented
some very positive changes: we've narrowed our focus, streamlined
processes, controlled costs, and eliminated bank debt. As part of a
comprehensive 100-day planning process, we've identified where we
want to be, and developed the strategy to get us there," said
Lattimore. "Despite some initial inventory challenges, and the
pressures from a significant increase in the Canadian dollar
throughout the year, we've strengthened our financial position,
improved cost and working capital management, and made progress
toward a return to profitability," said Lattimore. "I believe Q4 2007
marks a turning point for Carmanah - a point from which we can review
how far we've come, learn from the challenges of the past, and build
a strategy to guide us to the next level," added Lattimore. "In Q4
2007, our new executive team performed a detailed review of our
strategic direction, and developed a strategy that realigns our
market verticals, and re-focuses our attention on those activities
that are key to the company's long-term success. I am very confident
in the direction we have charted, and in our ability to reach our
goals in 2008 and beyond."

Roland Sartorius, Carmanah CFO, described some of the hurdles the
company faced in 2007, a year that mainly combined unfavorable
foreign exchanges rates and surplus inventory challenges, to result
in an $8.9 million net loss for the year. "We've effectively
addressed these matters, and fortunately, a large part of this loss
was attributable to items that are not expected to reoccur,"
explained Sartorius. "On the matter of foreign exchange, the
strengthening Canadian dollar during the year impacted net pre-tax
income by approximately $5.5 million. We estimate our top-line
revenue was reduced by about $4.0 million as a significant amount of
our sales are denominated in US dollars. We also incurred about $1.5
million in foreign exchange losses on our foreign denominated working
capital. At the end of 2006, we had also built up a significant
amount of inventory in anticipation of sales growth and expected
shortages for raw materials (such as solar panels) which subsequently
did not occur. To clear this excess inventory and reduce our non-cash
working capital, we provided higher discounts on a variety of our
products during the year which ultimately contributed to our overall
lower margins. We also incurred one-time inventory write downs and
adjustments, so that we could put the surplus inventory issue behind
us," explained Sartorius. "Finally at year end, we wrote off $2.0
million of goodwill associated with our 2003 acquisition of AVVA
Technologies Inc. The write down was primarily the result of changes
in our overall strategic direction. Overall, we've been very
successful in addressing each challenge, ending the year with a
strong balance sheet, and creating a solid platform for an exciting
future of steady, strategic growth," added Sartorius.

BALANCE SHEET HIGHTLIGHTS

Net cash, cash equivalents, and short-term investments at December
31, 2007 were $4,1 million, compared to $2.3 million at December 31,
2006, while net working capital was $19.1 million (current ratio of
3.4:1) at December 31, 2007 compared with $26.7 million (current
ratio of 3.5:1) at December 31, 2006. Credit facilities with the
Royal Bank of Canada includes demand operating loans in the amount of
$8.5 million and other credit facilities consisting of term loans and
lease lines of credit in the amount of $4.0 million. The term loans
are available once certain covenant targets are achieved. Nil was
drawn at these facilities as at December 31, 2007, compared to $1.9
million drawn at December 31, 2006.

OVERVIEW OF OPERATIONS

Carmanah designs, manufactures and distributes a range of energy
efficient and renewable-energy technology. A recent strategic review
has resulted in the company being structured around two business
segments intended to help define the optimal structure for the
company going forward:

- STRATEGIC: includes the primary business units of LED lights and
beacons and solar power systems for industrial and grid-tie
applications. These units will be the main focus of the company going
forward over the long term.

- TACTICAL: includes business units such as energy-efficient LED
edge-lit signage and solar component distribution. These units are
important today and are generally stand-alone growth opportunities.

This optimal go-forward business strategy is expected to emphasize
the company's key revenue-producing activities while accommodating
other complementary profitable opportunities within the company's
three technology groups: solar-powered LED lighting, solar power
systems and LED-illuminated signage.

The Solar LED Lighting Group provides a variety of energy-efficient
LED lighting products for marine, aviation, transit, roadway and
industrial worksite applications. The Solar Power Systems Group
offers a wide range of renewable energy system solutions for
industrial, residential and recreational power applications. The LED
Sign Group designs and manufactures energy-efficient LED edge-lit
signs for corporate identity, point of purchase and architectural
applications. Carmanah's headquarters and primary manufacturing and
distribution facilities continue to be located in Victoria, British
Columbia, Canada, with additional manufacturing and distribution
facilities in Calgary, Alberta, Canada, as well as regional
distribution and sub-assembly facilities in Santa Cruz, California.

RESULTS OF OPERATIONS

Sales

Carmanah's sales for the year ended December 31, 2007 were $59.0
million, down $3.2 million from 2006. A summary of revenues from each
of Carmanah's technology groups follows:

----------

Sales by Group
($ thousands) Three Months Ended December 31,
2007 2006

Solar LED Lighting $ 7,136 $ 6,786
Solar Power Systems 5,045 8,147
LED Sign Group 833 1,289
TOTAL $13,014 $16,222

Year Ended December 31,
2007 2006

Solar LED Lighting $27,457 $26,861
Solar Power Systems 27,346 30,905
LED Sign Group 4,206 4,417
TOTAL $59,009 $62,183

----------

- SOLAR LED LIGHTING GROUP: Sales were $27.5 million in 2007, up $0.6
million over 2006. Overall sales growth was negatively impacted by
the decision to exit the customized transit market. In total, transit
sales were $4.9 million in 2007, down from $6.2 million in 2006. The
decision to exit the custom transit business was due to the fact that
the majority of sales required significant modifications for each
customer. As a result, the necessary economies of scale could not be
obtained to provide sufficient margins to justify maintaining its
current product offering in this business. In the future, the transit
customers' needs will be fulfilled with a General Illumination
portfolio that is suitable for transit shelters and other remote
situations. Estimated negative foreign exchange impact on sales for
this group was $1.8 million

- SOLAR POWER SYSTEMS GROUP: Sales were $27.3 million in 2007, down
$3.6 million over 2006. This decrease is mainly due to lower sales in
the fourth quarter as a result of (1) restructuring within the
company's US distribution which involved replacing key sales staff,
which resulted in a $4.5 million drop in sales and (2) the sale of
the home power vertical which reduced sales by approximately $0.4
million in the fourth quarter. In total, Home power sales represented
approximately $4.2 million of sales in 2007. In 2008, the majority of
these sales are expected to disappear. Estimated negative foreign
exchange impact on sales for this group was $2.0 million.

- LED SIGN GROUP: Sales were $4.2 million in 2007, which is fairly
comparable to $4.4 million recorded in 2006. Sales growth in this
market is expected to come from (1) new technologies, such as
EVENLIT(tm), which are being integrated into the product offering,
and (2) expansion into new geographic markets. Estimated negative
foreign exchange impact on sales for this group was $0.2 million.

Gross Profit and Margin

Gross profit was $15.6 million for the year, down from $20.3 million
in 2006. Overall margins decreased to 26.4% in 2007 from 32.6% in
2006. Gross margins were negatively impacted as a result of lower
sales due to the significant 2007 decline in the US dollar, estimated
to be approximately $4.0 million, as well as approximately $1.2
million of one-time inventory write downs. Other factors that
impacted gross margins are outlined below:

- Within the Solar LED group, there was a change in the sales mix
towards lower margin products. The majority of the change in mix came
from a shift in product sales from Aviation to Roadways. Sales of
higher margin Aviation products were $1.4 million lower in 2007 than
in 2006 due to delayed contracts. These reduced aviation market sales
were made up by a $2.0 million increase in 2007 sales of lower margin
Roadway products.

- Within the Solar Power Systems group, there was a fair amount of
discounting certain products in an effort to reduce the surplus
inventory that was purchased in late 2006.

Operating expenses

Operating expenses in 2007 totaled $23.1 million, $3.0 million or 15%
higher than $20.1 million incurred in 2006. As a percentage of sales,
operating costs have increased to 39% in 2007 from 32% in 2006. The
majority of this increase was incurred in the first half of 2007,
when spending was based upon expected sales growth which did not
occur. Operating costs peaked in Q2 2007 at $6.7 million and then
significantly declined in the latter half of the year as the new
executive team implemented cost-cutting measures.

- Sales and marketing expenses increased by $0.8 million primarily
due to additional marketing staff and higher expenditures on samples
and shipping, tradeshows, travel and advertising in the first half of
2007. These increases were partially offset by reduced commissions
expense due to lower sales. As a percentage of sales, sales and
marketing expenditures grew from 13% in 2006 to 15% in 2007.

- Research, Development, and Engineering expenses for the year were
$2.8 million, net of SR&ED investment tax credits, up $0.6 million
from 2006 levels. The increase is attributable to lower SR&ED
investment tax credits in 2007, as a significant amount of
engineering time and resources was allocated to streamlining and
implementing lean manufacturing processes. Actual gross expenditures
were fairly comparable year over year with $3.4 million in 2007
versus $3.5 million in 2006. As a percentage of sales, net research,
development, and engineering expenses were 4.8% compared with 3.6%
for 2006.

- General and administrative expenses for 2007 totaled $10.1 million
compared with $8.5 million in 2006. This 19% increase was due to
additional administrative and finance staff levels, non-recurring
executive recruiting costs, additional provisions for bad debts, and
higher information systems costs due to general expansion. As a
percentage of sales, general and administrative costs increased to
17% compared with 14% in 2006.

- Amortization expense of $1.1 million for 2007 is comparable to 2006.

Other Expenses

Net non-operating expenses were ($3.3) million in 2007 versus a net
non-operating income of $0.4 million in 2006. A $2.0 million write
down of goodwill was incurred in the fourth quarter as a result of an
annual impairment analysis. The impaired goodwill related to the 2003
acquisition of AVVA Technologies Inc, now a part of the LED Signs
group. Of the $3.1 million of goodwill acquired, $2.0 million was
deemed impaired due to a change in overall strategic direction which
now considers this group tactical versus strategic. A $0.3 million
gain was recorded on the sale of certain assets related to its
residential vertical within the Solar Power Systems group. The assets
disposed of primarily related to inventory, customer lists, and
equipment. Significant foreign exchange losses of $1.5 million were
incurred during 2007. This compares with a gain of $0.3 million
during 2006. This is primarily due to the significant decline of the
US dollar relative to the Canadian dollar which has negatively
affected the value of the company's US dollar-denominated working
capital as a significant portion of sales and purchases are
denominated in the US dollar.

Income Tax

Income tax recovery for the year ended December 31, 2007 was $1.9
million. This amount consists of a current tax recovery of $0.3
million plus future income tax recovery of $1.6 million. The
difference relative to the statutory tax rate is primarily due to
non-deductible stock-based compensation and the write down of
goodwill. The future income tax recovery of $1.6 million reflects the
increase in net future tax assets resulting primarily from increased
loss carry forwards. Cash taxes for 2007 were approximately $0.1
million and relate to U.S. operations.

Earnings

Non-GAAP measures - certain non-GAAP measures are used to assist in
assessing financial performance. Non-GAAP measures do not have any
standardized meaning prescribed by GAAP and are therefore unlikely to
be comparable to similar measures presented by other companies. One
such non-GAAP measure used for assessing financial performance is
earnings before interest, taxes and amortization (EBITA). EBITA for
2007 was ($9.6) million compared to $1.6 million in 2006.

----------

EBITA Reconciliation
Ended December 31 Three Months Year Ended
($ thousands) 2007 2006 2007 2006

Net earnings – as reported $(4,635) $ (802) $(8,914) $ (365)
Add back (deduct):
Interest Income (25) (6) 91 (167)
Income taxes (270) 54 (1,923) 951
Amortization 287 354 1,151 1,144
EBITA $(4,643) $ (400) $(9,595) $ 1,563

----------

[meinolf67]

CITY OF KELOWNA "GOES GREEN" WITH SOLAR-POWERED AREA LIGHTING

Victoria, British Columbia, Canada, (March 13, 2008) Carmanah
Technologies Corporation (TSX: CMH) is working with the City of
Kelowna, British Columbia, to equip the community's parks, paths and
other public spaces with solar-powered LED lighting technology. As
part of its "Going Green" strategy, Kelowna will install 100 Carmanah
EverGEN(tm) solar-powered area lights in a citywide deployment of
renewable technology. A Government of Canada grant of $500,000 will
help support the outdoor lighting project as part of the government's
commitment to help Canadians reduce energy costs, increase energy
efficiency, and develop cleaner energy technologies. The government
will contribute $480,000 in funding from the Technology Early Actions
Measures program and $20,000 of in-kind support from Natural
Resources Canada (NRCan).

The solar-powered lights will illuminate green spaces and other
public areas to help enhance convenience, security, and visual appeal
throughout the city. With no trenching, cabling or permits required,
each area light can be installed in minutes at a fraction of the cost
of a wired light source, to provide years of trouble-free operation
without the scheduled maintenance or monthly utility bills of
traditional electric lights. To ensure consistent illumination
levels, each light uses Carmanah's built-in MICROSOURCE(r) energy
management system to dynamically manage the changing relationship
between light output and available energy resources. By using the
sun's energy as an alternative power source, each solar-powered LED
(light emitting diode) light can help the community to reduce its
dependency on grid-based electricity, for a clean, economical and
maintenance-free lighting alternative.

As one of BC's fastest-growing cities, Kelowna is committed to
sustainability for the health and wellness of its citizens and future
generations. Under the guidance of Mayor Sharon Shepherd, the city is
always looking for new ways to reduce its environmental footprint,
making this citywide commitment to solar technology a logical step.
With this wide-scale commitment to renewable energy technology,
Kelowna is leading the way as a true innovator, and one of Canada's
leading solar cities.

[meinolf67]

CARMANAH TECHNOLOGIES CORPORATION
www.carmanah.com
TSX:CMH

INVESTOR UPDATE Newsletter
Issued: Tuesday, April 1, 2008
-----------------------------

Welcome to the latest issue of the Carmanah Investor Update
newsletter. This publication provides a quick update on what's new at
Carmanah. For more information, you can also visit Carmanah's "What's
New" web page anytime at:
www.carmanah.com/content/company/whatsnew.aspx

-----------------------------

IN THIS ISSUE

- City of Kelowna "Goes Green" with Solar-Powered Area Lighting
- Financial Results for 2007
- Carmanah to Supply New Jersey Lottery with LED-Illuminated Signage
- Carmanah Introduces LED Edge-Lit Gaming Signs to Asian Market
- Renewed Focus Inspires a Bright New Style
- Carmanah Upgrades LED Technology
- Carmanah Introduces the DuraGEN(tm) Solar Engine
- CBC News: The National: Peter Mansbridge reports from Carmanah in
Victoria


Plus sales updates, media coverage, awards and testimonials

CONTACT CARMANAH

Do you have any questions or comments? Contact Carmanah at
[e-mail], call 1.877.722.8877 (toll-free in US &
Canada) or +1.250.380.0052 (worldwide).

-----------------------------

NEWS RELEASES

CITY OF KELOWNA "GOES GREEN" WITH SOLAR-POWERED AREA LIGHTING

(March 13, 2008) Carmanah is working with the City of Kelowna,
British Columbia, to equip the community's parks, paths and other
public spaces with solar-powered LED lighting technology. As part of
its "Going Green" strategy, Kelowna will install 100 Carmanah
EverGEN(tm) solar-powered area lights in a citywide deployment of
renewable technology. A Government of Canada grant of $500,000 will
help support the outdoor lighting project as part of the government's
commitment to help Canadians reduce energy costs, increase energy
efficiency, and develop cleaner energy technologies. The government
will contribute $480,000 in funding from the Technology Early Actions
Measures program and $20,000 of in-kind support from Natural
Resources Canada (NRCan)...

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080313


CARMANAH ANNOUNCES FINANCIAL RESULTS FOR 2007

(March 11, 2008) Carmanah announced its financial results for the
years ended December 31, 2007 and 2006.
Highlights for 2007:
- Sales of $59.0 million for 2007, down 5.1% from $62.2 million
in 2006
- Gross margin of 26.4% for 2007, down from 32.6% in 2006
- Net loss of ($8.9) million for 2007 compared to ($0.4) million
in 2006
- EBITA of ($9.6) million for 2007 compared to $1.6 million
in 2006
- Positive cash flow from operations of $2.0 million, compared to
a negative operating cash flow in 2006 of ($8.4) million
- Ended the year with net cash of $4.1 million

More details:
www.carmanah.com/content/investors/shownewsrelease.aspx?id=080311x


CARMANAH TO SUPPLY NEW JERSEY LOTTERY WITH LED-ILLUMINATED SIGNAGE

(March 03, 2008) Carmanah announced a two-year contract to supply the
State of New Jersey's Lottery Division with LED edge-lit signage. The
contract, valued at up to $500,000, extends from March 1, 2008 until
February 28, 2010. Under the terms of the contract, Carmanah will
provide custom edge-lit hanging window signs and instant ticket
dispenser signs that will be used to help New Jersey Lottery
retailers promote the sales of both instant ticket and online lottery
tickets throughout the state. This order follows a previous contract
from 2006 to supply up to $336,000 in signs, and an order from 2005
for 1,000 edge-lit signs.

More details:
www.carmanah.com/content/investors/ShowNewsRelease.aspx?id=080303

---------------------------

SALES UPDATES

Site Enhancement: Carmanah's Renewed Focus Inspires a Bright New Style

At Carmanah, we're changing the way we do business. To reflect our
renewed strategic focus for 2008, we've moved to a fresh new look for
our website and print materials. Over the next few months, you'll see
Carmanah's bold blue style, updated logo, and new tag line - "we put
solar to work" - appearing on all the company's online and print
media. For more information, visit Carmanah.com.

Carmanah Upgrades LED Technology
(March 26, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080319-1

Carmanah introduces the DuraGEN Solar Engine
(March 26, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080326

Carmanah Introduces LED Edge-Lit Gaming Signs to Asian Market
(February 27, 2008)
www.carmanah.com/content/investors/showsalesupdate.aspx?id=080227


For more information on these and other sales updates, visit
www.carmanah.com/content/investors/salesupdates.aspx

--------------------------

RECENT MEDIA COVERAGE

Mar 12 - CBC News: The National
"Green Rush: The Power of the Sun"

Mar 13 - Gov't of Canada News Release
"Government of Canada Shows Commitment to Renewable Power
with Investment in Solar Power Project for Kelowna"

Mar 12 - Vancouver Sun
"Executives Say Worst is Over for Carmanah Technologies"

March - Ontario Trucking News
"Portable Inverters Power Electrical Gear on the Road"

March - Cape Cod Times
"Bright lights, Big Buoys"

Spring - Port Technology International
"Lighting Portugal's Waterways with Solar LED Technology"

For more media clippings, visit
www.carmanah.com/content/investors/mediaclippings.aspx


------- END OF UPDATE -------

[meinolf67]

UESDAY, April 2, 2008
(No. 2008-04 #09)

BARIVEN S.A. UPGRADES CARÚPANO AIRPORT WITH CARMANAH SOLAR LED
AVIATION LIGHTS

Victoria, British Columbia, Canada, (April 2, 2008) Carmanah
Technologies Corporation (TSX: CMH) has received an order to supply
solar-powered portable airfield lights for Bariven S.A. in Venezuela,
a subsidiary of PDVSA. The order, valued at over $800,000 USD, will
provide the tools to equip Venezuela's Carúpano Airport with a
stand-alone system of solar-powered LED (light emitting diode)
aviation lights.

Cost effective, energy efficient, and easy to install, Carúpano's new
solar lighting system includes Carmanah's A704-5 runway edge lights,
threshold lights, handheld radio controllers, A601 taxiway lights and
supporting mounting hardware for permanent installation. Using the
programmable interface, the user can set on/off times, brightness
levels, flash patterns, infrared or visible outputs and more.

As the largest supplier of self-contained solar LED airfield lighting
solutions in the world, Carmanah's advanced airfield lights have been
field-proven to endure challenging environmental conditions including
extreme temperatures, poor solar conditions, sandstorms, and
flooding. With thousands of systems in operation, Carmanah provides
the tools for a full range of airfield lighting and power
applications, including permanent, portable, temporary and emergency
lighting systems.

For more information on Carmanah solar aviation lights, visit
www.solarairportlights.com.

[meinolf67]

Carmanah 2008 Annual General Meeting, May 16th, 2008

Carmanah Technologies Corporation will hold its 2008 Annual General Meeting on Friday, May 16th, 2008 at 9:00 AM Pacific Time at its Production Facility, Suite #300-770 Enterprise Crescent, Victoria, BC, Canada.

Shareholders and guests will receive an update on the company by Ted Lattimore, CEO, and the Board of Directors. For maps and driving instructions to the Enterprise Crescent location, visit Carmanah's Office Locations page.

We would also be pleased to answer any inquiries regarding flights or hotels. Victoria's beautiful inner harbour is a 30-minute float plane or helicopter ride from Vancouver's harbour. There is also ferry service available from Vancouver as well.

If you plan to attend, please RSVP by e-mail at [e-mail]. We look forward to your attendance and thank you for your support.

For more information, contact Roland Sartorius via email at [e-mail].

[meinolf67]

Friday May 2, 2008

Welcome to the latest issue of the Carmanah Investor Update. This newsletter provides a quick update on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Carmanah news this month:

· Bariven S.A. Upgrades Carúpano Airport with Carmanah Solar LED Aviation Lights

· Washington State Casino First to Install Carmanah's EvenLit Light Panel on Slot Banks

· Grid-Tie Solar Power Systems Support BC Climate Action Plan

· Major Wireless Provider Upgrades Signage with Carmanah Point-of-Purchase Signs

· Caribbean Airport Upgrades with Solar-Powered Runway Lights

· Carmanah Upgrades LED Technology

· City of Kelowna Launches Solar Power Lighting Project

· Jean Canfield Government of Canada Building Officially Opens

[meinolf67]

Tuesday, May 13, 2008


Carmanah Announces Three-Year Operating Credit Facility with BMO Financial Group



VICTORIA, BC, CANADA (May 13, 2008) Carmanah Technologies Corporation (TSX: CMH), a provider of solar power technology, has negotiated a new $10M, three-year committed operating facility arrangement with BMO Financial Group.



According to Roland Sartorius, Chief Financial Officer for Carmanah, the three-year bank credit facility offers greater convenience, flexibility and stability for the long term than a month-to-month arrangement. "The amount available under this facility is based on certain covenants, including the company's EBITDA performance (earnings before interest, taxes, depreciation and amortization); this format is clearly in line with our corporate commitment to steady, measured growth," said Sartorius. "Carmanah remains debt-free, and we have no immediate plans to draw on the line, although a committed operating facility can prove invaluable for facilitating large orders, mergers and acquisitions, or other opportunities if necessary."



"We are very pleased to be Carmanah Technologies Corporation's new financial partner," said James Gallagher, Regional Vice President, Corporate Finance, BMO Bank of Montreal. "We look forward to assisting this growing and exciting business by providing expert financial advice and ancillary banking services," Gallagher added. BMO Bank of Montreal's clients benefit significantly from full relationship management with considerable resources and financial expertise provided through a single local point of access.

[meinolf67]

Tuesday, May 13, 2008

Carmanah Announces Financial Results for Q1 2008


Victoria, British Columbia, Canada - Tuesday, May 13, 2008 - Carmanah Technologies Corporation (TSX: CMH) announces its financial results for the three months ended March 31, 2008.

The first quarter of 2008 represented a further milestone for Carmanah as the company refocused attention on growing its strategic businesses, while ensuring operating costs remain at levels supportable by current sales and margins. Although sales and margins were slightly lower than the same period in 2007, the company recorded net income of $0.1 million compared with a loss of $0.5 million in the same period of 2007. This represents the first quarterly profit since Q3 2006.
Highlights for the Quarter

* Improved bottom line: net income of $0.1 million compared to $(0.5) million in the same period of 2007
* Higher EBITDA: $0.7 million in Q1 2008 compared to $(0.3) million in the same period of 2007
* Positive cash flow from operations: $0.1 million, compared to negative operating cash flow of $3.9 million in 2007
* Cash balance at the end of the quarter: $4.1 million, same as at December 31, 2007
* Sales: $15.1 million for the first quarter of 2008, down marginally from $15.3 million for the same period of 2007 (Adjusting for Q4 2007 sale of the home power business, year-over-year sales are up approximately 4%)
* Gross margin: 33.6% for 2008, down from 34.7% in 2007
* Improved operating costs: $5.0 million for Q1 2008, down $0.6 million (10%) from the same quarter in 2007

Summary of Results

According to Ted Lattimore, Carmanah CEO, the first quarter of 2008 delivered further positive evidence that Carmanah is on the right track. "In February, we released a strategic plan for the revised business, emphasizing the transitional nature of 2008 as Carmanah returns to profitability, based on steady sales year over year from existing lines of business," said Lattimore. "Having increased our focus and streamlined the business (through positive action such as the home power divestiture), our first priority is to meet expectations that the company can manage a breakeven position from the current Strategic and Tactical business alignment. This quarter provides the first confirmation that the plan is underway, and that the company can indeed perform to plan levels. Cost controls implemented in 2007 have been carried forward, margins have improved materially, expenses are flat and our strategic solar powered lighting business has led the way in sales. Throughout Q2 we plan to build on this momentum, with the continued implementation of the new strategic plan."

With better working capital management, right-sized inventories, a solid cash balance and no debt, Roland Sartorius, Carmanah CFO, commented on how Carmanah's December 31, 2007 balance sheet provided the platform the company needed to successfully execute on the first stage of its strategic renewal. "With the first quarter behind us, we can see how a positive balance sheet helps the company progress according to plan," said Sartorius. "With increased revenues and margin percentages back in the thirties, we've stabilized operating expenses and achieved a bottom line, all the while protecting our cash position," added Sartorius. "As we head into the second quarter, the company is performing in line with the guidance we provided in 2007. Finally, we received further external support for our plan through the provision of a $10 million three- year committed lending facility that is currently being documented with the Bank of Montreal."

Sales

Sales for the first quarter of 2008 were $15.1 million, $0.2 million lower than the same period in 2007 but over 60% higher for our Strategic business segments than during the same period last year. A summary of revenues from each of the Strategic and Tactical business segments is shown below:


Sales


For the period ended March 31,

($ thousands)


2008


2007


Change




$


Mix


$


Mix


$


%

Strategic


8,057


53.2%


4,997


32.8%


3,060


61.2%

Solar LED Lights


7,199


47.5%


4,234


27.8%


2,965


70.0%

Solar Power Systems


858


5.7%


763


5.0%


95


12.5%

Tactical


7,091


46.8%


10,257


67.2%


(3,166)


(30.9%)

Distribution


5,652


37.3%


8,957


58.7%


(3,305)


(36.9%)

Signage


1,439


9.5%


1,300


8.5%


139


10.7%

Total


15,148


100.0%


15,254


100.0%


(106)


(0.7%)



EBITDA for Q1 2008 was $0.7 million, compared to $(0.3) million for the same period in 2007.

Net income for Q1 2008 was $0.1 million compared to a loss of ($0.5) million for the same period of 2007

Non-GAAP Measures

The company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is earnings before interest, taxes and amortization (EBITA).

EBITDA Reconciliation


Three Months Ended Mar. 31

($ thousands)


2008


2007

Net income (loss)


83


(464)

Add (deduct):







Interest


(29)


26

Income Taxes


349


(79)

Amortization


254


257

EBITDA


657


(260)
Progress During the Quarter (including subsequent events)

With net income of $0.1 million compared with a loss of ($0.5) million in the same period of 2007, Q1 2008 represents the first quarterly profit since Q3 2006. Other highlights included:

* Carmanah completed its strategic review, and restructured the company around "strategic" and "tactical" business segments (February 2008)
* Carmanah provided solar LED aviation lights for airfield upgrades in United Arab Emirates (February 13, 2008)
* Carmanah Introduced LED Edge-Lit gaming signs to the Asian market at the International Gaming and Entertainment Expo (February 27, 2008)
* BC's City of Kelowna announced the deployment of 100 Carmanah EverGEN™ solar-powered area lights (March 13, 2008)
* Carmanah announced a contract to supply New Jersey Lottery with LED-illuminated signage (March 03, 2008)
* Carmanah introduced a bright new style, inspired by the company's renewed focus, for all online and print media (March 2008)
* Carmanah upgraded the LED technology of its light emitting diode (LED) luminaires to improved high-flux LED technology, effectively doubling the raw lumen output of its LEDs (March 26, 2008)
* Carmanah introduced the DuraGEN solar engine - a complete stand-alone solar power supply that provides a reliable source of high-quality power for remote applications (March 26, 2008)
* Carmanah negotiated a three-year $10 million committed credit facility with BMO Financial Group (May 2008)


Complete set of Financial Statements and Management Discussion & Analysis
A complete set of the first quarter 2008 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: http://www.carmanah.com/content/investors/financialreports.a…

Conference Call Details

To discuss the Q1 2008 results, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) on Tuesday, May 13th. To access this conference call by telephone, dial 1.888.882.9090 (Canada and US) or +1.403.770.0861 (international) approximately five to ten minutes before start time. When prompted for the conference ID, enter 2510558. A recording of the conference will also be available on Carmanah's corporate website within three business days.

[meinolf67]

May 20, 2008

Carmanah and Beta Lighting Partner to Deliver
BetaLED Solar-Powered Lighting Solution
THE EDGE™ light fixtures offer new solar option powered by Carmanah

VICTORIA, BRITISH COLUMBIA, CANADA (May 20, 2008) Carmanah solar-powered area lights are now better and brighter than ever, thanks to a new partnership between Carmanah Technologies Corporation and Beta Lighting.

Based on THE EDGE™ line of light emitting diode (LED) commercial and industrial light fixtures from Beta Lighting, the company has developed a BetaLED fixture designed specifically for Carmanah's EverGEN™ solar engine. The result is Carmanah's brightest solar powered area light to date: a versatile stand-alone lighting solution that can be installed in minutes to illuminate parks, paths, kiosks and other outdoor areas. Directing light only where needed, the new solar-powered area light is "dark-sky friendly" as specified by the International Dark-Sky Association (IDA).

"Beta Lighting has developed a leading product with this line of LED fixtures. When combined with Carmanah's stand-alone solar power supply, it provides the best and brightest illumination we've ever seen from a solar-powered area light," said Ted Lattimore, Carmanah Chief Executive Officer.

Carmanah's EverGEN™ solar engine is a compact, solar-powered energy source that uses the sun's energy to power outdoor area lighting applications. All components (including photovoltaic modules, rechargeable batteries, sensors and electronics) are integrated within a compact and durable pole-mounted design. With no trenching or cabling required, the EverGEN solar engine can be installed in minutes, with minimal technical expertise, at a fraction of the cost of a hard-wired system.

According to Alan Ruud, founder and president of Beta Lighting's parent company Ruud Lighting, Carmanah's solar technology is the perfect complement to BetaLED lighting technology. "When combined with Carmanah's powerful EverGEN solar engine, an LED lighting solution can provide considerable benefits over traditional lighting alternatives - especially in remote applications," said Ruud. "We're pleased to join Carmanah in delivering this top quality solar-LED lighting product."

See the EverGEN solar engine with the new BetaLED light fixture at LIGHTFAIR International 2008 in Las Vegas (May 28-30) (Carmanah booth #1165). For more information, visit www.carmanahlighting.com, or telephone [phone] (toll free in US and Canada).

###

About Beta Lighting
BetaLED, a brand of Beta Lighting, was established to dedicate resources to the emerging use of LED technology for general illumination. Beta Lighting, a Ruud Lighting company based in Racine, Wis., provides the lighting industry with high quality, specification-grade luminaires for exterior lighting applications. For additional exterior LED luminaire information, visit www.BetaLED.com

About Carmanah Technologies Corporation
As one of 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's LED lights and 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" and on the Berlin and Frankfurt Stock Exchanges under the symbol "QCX". For more information, visit www.carmanah.com.

[meinolf67]

May 29, 2008

Carmanah Provides Solar LED Lighting
for London, England Transit Project

VICTORIA, BRITISH COLUMBIA, CANADA (May 29, 2008) As part of an ongoing commitment to equip Transport for London transit routes with solar-powered lighting and communications technology, Carmanah Technologies Corporation (TSX: CMH) has received an additional purchase order of $1.1M from Trueform Engineering Ltd. for London Bus Stop systems. Carmanah currently has more than 3,000 of the London Bus Stop systems and 650 transit shelter lighting systems installed throughout the City of London, England. This latest order is part of a longstanding partnership with UK-based Trueform Engineering in support of an initiative to install up to 7,000 London Bus Stops in total.

According to Carmanah CEO Ted Lattimore, this application demonstrates the versatility and effectiveness of Carmanah's core solar technologies in one of the world's more challenging solar environments. "We're pleased to work alongside Trueform Engineering to help support this ongoing solar-power initiative," said Lattimore. "Since 2001, our solar-LED lighting and energy management technology has helped to provide London commuters with brightly lit bus stops, commuter-activated signals, and easy-to-read schedule displays. These applications really demonstrate the versatility of our core technology," added Lattimore. "At the heart of these products is the same industry-proven technology that goes into all of our general illumination systems, including our award-winning EverGEN™ lighting products." Carmanah's new EverGEN general illumination system recently received the "Judges' Citation" Innovation Award at LIGHTFAIR International - North America's premier lighting industry event.

Carmanah's solar powered LED (light emitting diode) lights offer distinct advantages over hardwired grid-based lighting systems, including easy installation, no scheduled maintenance, and the use of free, clean solar energy as a power source. An integrated energy-management capability ensures a reliable, year-round source of light in even the most adverse weather conditions. For more information, visit www.carmanahlighting.com.

[meinolf67]

Investor Update: Carmanah Technologies Corporation (TSX: CMH)

Thursday June 05, 2008

Welcome to the latest issue of the Carmanah Investor Update. This newsletter provides a quick update on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Carmanah news this month:

*
Carmanah Provides Solar LED Lighting for London, England Transit Project
* Solar-Powered Area Light Receives Innovation Award at LIGHTFAIR International 2008
* Carmanah and Beta Lighting Partner to Deliver BetaLED Solar-Powered Lighting Solution
* Carmanah Announces Financial Results for Q1 2008
* Carmanah Announces Three-Year Operating Credit Facility with BMO Financial Group
* Carmanah Delivers Solar Solution to Yukon Government

Plus more sales updates and media coverage.

Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or +1.250.380.0052 (worldwide).
News Releases

Carmanah Provides Solar LED Lighting for London, England Transit Project
(May 29, 2008) As part of an ongoing commitment to equip Transport for London transit routes with solar-powered lighting and communications technology, Carmanah has received an additional purchase order of $1.1M from Trueform Engineering Ltd. for London Bus Stop systems. This latest order is part of a longstanding partnership with UK-based Trueform Engineering in support of an initiative to install up to 7,000 London Bus Stops in total.

Carmanah and Beta Lighting Partner to Deliver BetaLED Solar-Powered Lighting Solution
(May 20, 2008) Carmanah solar-powered area lights are now better and brighter than ever, thanks to a new partnership between Carmanah Technologies Corporation and Beta Lighting. Based on THE EDGE™ line of light emitting diode (LED) commercial and industrial light fixtures from Beta Lighting, the company has developed a BetaLED fixture designed specifically for Carmanah's EverGEN™ solar engine. The result is Carmanah's brightest solar powered area light to date: a versatile stand-alone lighting solution that can be installed in minutes to illuminate parks, paths, kiosks and other outdoor areas.

Carmanah Announces Financial Results for Q1 2008
(May 13, 2008) Carmanah announced its financial results for the three months ended March 31, 2008. First quarter of 2008 represented a further milestone for Carmanah as the company refocused attention on growing its strategic businesses, while ensuring operating costs remain at levels supportable by current sales and margins. Although sales and margins were slightly lower than the same period in 2007, the company recorded net income of $0.1 million compared with a loss of $0.5 million in the same period of 2007. This represents the first quarterly profit since Q3 2006.

Carmanah Announces Three-Year Operating Credit Facility with BMO Financial Group
(May 13, 2008) Carmanah a provider of solar power technology, has negotiated a new $10M, three-year committed operating facility arrangement with BMO Financial Group.

For more information, visit news releases on Carmanah.com.
Sales Updates

Solar-Powered Area Light Receives Innovation Award at LIGHTFAIR International 2008
(May 28, 2008) Carmanah's new solar-powered area light took center stage at the annual LIGHTFAIR International "LFI Innovation Awards" in Las Vegas in May. In a competitive category filled with more than 20 outdoor lighting products from industry leaders such as GE, Cooper Lighting and Philips, Carmanah's new EverGEN™-powered LED light took top honors, winning the Judges' Citation Award - an honor awarded at the discretion of a panel of renowned lighting professionals.

For more information, see the Innovation Awards page on the LIGHTFAIR International web site, or learn more about Carmanah's new solar LED light at carmanahlighting.com.

LIGHTFAIR
EverGEN General Illumination System
(shown with new BetaLED luminaire)

Carmanah Delivers Solar Solution to Yukon Government
(May 26, 2008) Carmanah recently inked an agreement with the Yukon Government for a grid-tie solar power system to be installed at the Yukon Energy Solutions Centre, a service and program delivery agency for Federal and Yukon government programs relating to energy efficiency and renewable energy.

For more information, visit sales updates on Carmanah.com.
Media Coverage

BC Business magazine: "Seeing green"
(May 2007) "Times are particularly good for local alternative-energy companies. Last year, when Deloitte & Touche LLP released its inaugural "Technology Green 15" - a list of Canada's 15 most promising environmental-technology firms - seven of the 15 were based here in B.C. And recognition extends beyond the border: in their book, The Clean Tech Revolution, U.S. authors Clint Wilder and Ron Pernick describe Vancouver as one of the world's "top 10 new Silicon Valleys" for clean technologies."

Port Technology International: "Meeting operational goals with solar lighting technology"
(May 2007) "For modern port facilities, times are changing and so is the way of doing business. Concerns such as increasing safety and security, reducing operational expenditures and improving environmental practices are registering high on the list of business priorities... As one of the world's most rapidly advancing renewable energy resources, solar energy is gaining attention for its reliability and flexibility in application."

The North Bay Nugget: "[North Bay] solar panels producing power: Website tracks how much city is feeding into provincial grid"
(May 23, 2008) The sun broke through the clouds for a few minutes Thursday as North Bay officials celebrated the latest milestone in green energy generation. A solar power generator on the lower roof at city hall has produced its first 1,000 kilowatts of energy and met its monthly target. "If we can show leadership, this will attract green investment to North Bay and this market is huge," said Coun. Judy Koziol, chairwoman of the engineering and environmental works committee. Koziol said the best part of what's being called a demonstration project is the link on the city's website to a graphic chart showing the hourly impact of feeding renewable energy into the Hydro One electricity grid."

Vancouver Sun: "Premier leads delegation of green firms to Asia: Trip to China, South Korea aims to 'open doors' in region"
(May 17, 2008) "Premier Gordon Campbell will board a plane bound for South Korea this morning, leading an Asian trade mission comprising British Columbia's largest-ever delegation of green businesses. The group of about 30 clean technology and green design companies will be in Seoul and Suwon in South Korea until Wednesday, and then in Beijing until next Saturday."

For more information, visit media clippings on Carmanah.com.

[meinolf67]

June 13, 2008

USAF Upgrades Airfield with Carmanah Solar-powered LED Aviation Lights

VICTORIA, BRITISH COLUMBIA, CANADA (June 13, 2008) - Carmanah Technologies Corporation (TSX: CMH) is providing solar-powered airfield lights for a United States Air Force installation in the Middle East. The order, valued at approximately USD $463,000 will enable the facility to upgrade its five-year-old system of A702 solar-powered airfield lights with Carmanah's wireless, high-visibility A704-5 GEN II runway lights. The new airfield-lighting system will help ensure the safety of air traffic and airport personnel by providing bright and reliable lighting for taxiways and runways within this challenging environment.

Featuring Carmanah's top-of-the-line solar-powered A704-5 airfield lights, the new solar-powered system significantly improves visibility thanks to a revolutionary new optical lens and high-intensity LED light source that makes the new lights up to 40 times brighter. Dual-mode LEDs can be switched from visible to infrared mode (for use with night vision goggles), and configuration and control is quick and convenient using the onboard programmable interface or secure wireless controller. Offering a quick and easy installation, versatile operation, and no scheduled maintenance for up to five years, the stand-alone solar-powered lighting system offers an effective and dependable alternative for improving airfield safety around the clock.

Industry proven for reliable operation in a range of environments, Carmanah solar-powered LED aviation lights are installed at some of the world's busiest airports, including Chicago O'Hare International Airport, Dubai International Airport, Gatwick International Airport, Singapore Changi International Airport and Toronto Pearson International Airport. For more information, visit www.solarairportlights.com.

[meinolf67]

June 19, 2008

Carmanah appoints Grant Byers and Rob Cruickshank to Board of Directors


VICTORIA, BRITISH COLUMBIA, CANADA (June 19, 2008) - Carmanah Technologies Corporation (TSX: CMH), a global provider of solar power and lighting technologies, has appointed Grant Byers and Rob Cruickshank to the Board of Directors.

Grant M. Byers, P Eng. Senior Vice President, Environment, for SNC-Lavalin, led Morrow Environmental Consultants, an environmental consulting firm with offices across Western Canada, for 18 years until it was purchased by SNC-Lavalin in 2005. Mr. Byers continued in the position of Senior Vice President, Environment, for SNC-Lavalin, one of the leading engineering and construction groups in the world and a major player in the ownership, operation and maintenance of infrastructure.

R.G. (Rob) Cruickshank brings a wealth of experience to Carmanah from his years in the BC technology industry. Most recently Mr. Cruickshank served as President of the British Columbia Technology Industries Association (BCTIA), a not-for-profit, member-funded organization representing the technology industry across the province. Prior to joining BCTIA, he had a long and successful career with TELUS/BCTEL serving in many executive roles including over four years as the President of BCTEL Mobility. For two years, Mr. Cruickshank was President of MDSI Mobile Data Solutions, a public company listed on the Toronto and NASDAQ exchanges.

Carmanah also announced that Carmanah founder Dr. David Green has accepted the role of Chairman of the Board, in place of Art Aylesworth, who has stepped down. In a statement to the Board of Directors, Dr. Green welcomed Mr. Cruickshank and Mr. Byers to the Board, and expressed his appreciation to Art Aylesworth for his years of service to the company.

[meinolf67]

June 23, 2008

Carmanah to Provide Strategic Renewal Update

VICTORIA, BC, CANADA (June 23, 2008) Carmanah Technologies Corporation (TSX: CMH) plans to provide an update on its strategic renewal plans and initiatives on Wednesday June 25, 2008 at 1:00pm PT (4:00 pm ET).

Carmanah has also scheduled a conference call for 2:00 pm PT (5:00 pm ET) that day to discuss this update. To access this conference call by telephone, dial 1.888.882.9090 (Canada and US) or +1.403.770.0861 (international) approximately five to ten minutes before start time. When prompted for the conference ID, enter 2510558.

A recording of the conference will also be available on Carmanah's corporate website within three business days. For more information, visit www.carmanah.com.

[meinolf67]

June 25, 2008

Carmanah Updates Strategic Renewal:
Partners with Flextronics, Restructures Sales and Operations


VICTORIA, BRITISH COLUMBIA, CANADA (June 25, 2008) As part of the previously announced strategic renewal process designed to return the Company to sustained and profitable growth, solar-technology provider Carmanah Technologies Corporation today announced a restructuring of its operations to focus on its sales activities, while continuing to further reduce expenses and improve efficiency and increase EBITDA (Earnings before Interest, Income Taxes, Depreciation & Amortization) results.

"The initiative announced today will enable Carmanah to better serve its customers across its key markets, while improving operational efficiency, controlling costs, and focusing resources on key revenue-producing activities. Management continues to take a measured approach to our business in this year of our transition. The restructuring should allow us to maintain revenues at approximately $60 million and provide a positive EBITDA before restructuring costs in 2008, as stated in earlier guidance. Overall our metrics will improve as we move forward, as a result of the strategic lighting business becoming a bigger portion of the future revenue mix," said Ted Lattimore, CEO of Carmanah Technologies Corporation.

Specifically, the Company is further narrowing its focus onto its strategic businesses by announcing the following actions:

A. Outsourcing Manufacturing to Flextronics International Ltd.

*
To help maximize the efficiency of its supply chain while providing a flexible infrastructure for scalable growth, Carmanah has partnered with electronics manufacturing services provider Flextronics International Ltd. Through this arrangement, the Company will outsource production of its solar technology products to Flextronics' manufacturing facilities, with access to additional assembly and distribution points around the world. As a worldwide provider of manufacturing services with facilities established in each of Carmanah's key regions, Flextronics provides the infrastructure and economies of scale that can help support and drive growth on a global level.


B. Exit of Tactical Distribution Business

*
To further consolidate operations, the Company will close its US solar component distribution business and California warehouse by September 2008, as well as its Calgary, Alberta office and warehouse by October 2008. Administrative functions from the California and Calgary locations will be moved to the Company's headquarters in Victoria, BC.


C. Move to a More Efficient Regional Geographic Sales Model

*
To increase the efficiency of its sales organization and improve customer service, Carmanah has restructured its global sales force from a vertical-specific format to a regional geographic model. A more versatile regional sales model is expected to create new opportunities for Carmanah sales representatives and customers by making all Carmanah products accessible to all complementary markets. With the new model, each sales representative can now represent the full range of Carmanah products, and cross-sell from suitable product lines to customers across a range of industries.


D. Simplifying and Reducing the Cost of the Organizational Structure

*
Carmanah will also streamline its organizational structure, reducing staff across various departments including the executive team, operations, marketing, and general and administrative departments.
*
The transition to outsourced manufacturing initiated several months ago will be completed over the next six months, resulting in the closure of the Company's Victoria, BC-based "Enterprise" manufacturing facility by February 2009.
*
With the implementation of these initiatives, the Company's employee population is expected to decline by approximately 40% by early 2009 as a result of workforce reductions and attrition. The majority of these reductions, which relate to the production outsourcing initiative, will be started by July 1st, with final reductions, which have already been planned and communicated for required staff involved in the transition of the Victoria, BC manufacturing, Calgary, Alberta, and California facilities, carried out by December 31st.

Based on this restructuring, a provision of approximately $3 million is expected to be charged to earnings over the next several quarters with about half estimated to be recorded in the quarter ended June 30, 2008. This one-time charge includes a $2 million write down of assets and a provision of $1 million for cash payments relating to employee, facility and lease-termination costs.

Carmanah's management believes that based on the successful implementation of these initiatives:

*
there will be no adverse effect on current cash balances from the termination costs;
*
inventory balances will be reduced by a further $6 million by mid 2009;
*
revenues in 2009 will increase by 20% over 2008 adjusted annual projections, taking into account as if this restructuring had taken place at the beginning of 2008 and increase a further 25% in 2010 over 2009 levels;
*
gross margin will be in the 35 - 37 % range;
*
operating expenses will be further reduced by more than $2 million annually starting in 2009;
*
EBITDA will be in the 10% of revenues range in 2009 and 2010.

"This transition, while difficult, is essential to Carmanah becoming a more efficient Company," said Lattimore. "Carmanah has come a long way in recent months - the Company has solidified the Balance Sheet, and achieved a return to profitability in Q1 2008," said Lattimore. "To maintain this positive trend and ensure the long-term success of the Company, we need to adapt to the realities of our competitive global marketplace - we can do this as a more agile and responsive business, by focusing on our core strengths, keeping costs low, and increasing the scalability and efficiency of our supply chain."
For more information on Carmanah Technologies Corporation, visit www.carmanah.com.


Conference Call Details
To discuss the Strategic Renewal Update, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) on Wednesday, June 25th. To access this conference call by telephone, dial 1.888.882.9090 (Canada and US) or +1.403.770.0861 (international) approximately five to ten minutes before start time. When prompted for the conference ID, enter 2510558. A recording of the conference will also be available on Carmanah's corporate website within three business days.

[meinolf67]

Thursday, July 03, 2008

Welcome to the latest issue of the Carmanah Investor Update. This newsletter provides a quick update on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Carmanah news this month:

*
Carmanah Updates Strategic Renewal: Partners with Flextronics, Restructures Sales and Operations
*
Carmanah appoints Grant Byers and Rob Cruickshank to Board of Directors
*
USAF Upgrades Airfield with Carmanah Solar-powered LED Aviation Lights
*
Carmanah Safety Marking Lights illuminate Cell Towers in South America
*
Carmanah Solar Aviation Lights Receive a Golden Welcome Down Under!
*
City of Toronto Upgrades Public Facility with Solar Power
*
City of North Bay Grid-Tie Solar Power System Launched
*
Tallahassee, Florida Goes Green with Solar Transit Lighting
*
Carmanah's EvenLit Light Panel Chosen by Canadian Retail Chain

Plus more sales updates and media coverage.


Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or +1.250.380.0052 (worldwide).
News Releases

Carmanah Updates Strategic Renewal: Partners with Flextronics, Restructures Sales and Operations
(June 25, 2008) As part of the previously announced strategic renewal process designed to return the company to sustained and profitable growth, solar-technology provider Carmanah Technologies Corporation today announced a restructuring of its operations to focus on its sales activities, while continuing to further reduce expenses and improve efficiency and increase EBITDA (Earnings before Interest, Income Taxes, Depreciation & Amortization) results. Specifically, the company is further narrowing its focus onto its strategic businesses by announcing the following actions:

* Outsourcing Manufacturing to Flextronics International Ltd.
* Exit of Tactical Distribution Business
* Move to a More Efficient Regional Geographic Sales Model
* Simplifying and Reducing the Cost of the Organizational Structure

Carmanah appoints Grant Byers and Rob Cruickshank to Board of Directors
(June 19, 2008) Carmanah has appointed Grant Byers and Rob Cruickshank to the Board of Directors. Carmanah also announced that Carmanah founder Dr. David Green has accepted the role of Chairman of the Board, in place of Art Aylesworth, who has stepped down. In a statement to the Board of Directors, Dr. Green welcomed Mr. Cruickshank and Mr. Byers to the Board, and expressed his appreciation to Art Aylesworth for his years of service to the company.
USAF Upgrades Airfield with Carmanah Solar-powered LED Aviation Lights
(June 13, 2008) Carmanah is providing solar-powered airfield lights for a United States Air Force installation in the Middle East. The order, valued at approximately USD $463,000 will enable the facility to upgrade its five-year-old system of A702 solar-powered airfield lights with Carmanah's wireless, high-visibility A704-5 GEN II runway lights.

For more information, visit news releases on Carmanah.com.
Sales Updates

Carmanah Safety Marking Lights illuminate Cell Towers in South America
(June 23, 2008) A cellular telecommunications provider in South America is equipping cell towers with Carmanah solar safety marking lights. With up to four miles of visibility, the Carmanah A704-5 obstruction lights will significantly improve the visibility of each tower within this remote location.

Carmanah Solar Aviation Lights Receive a Golden Welcome Down Under!
(June 20, 2008) Australia's Gold Coast Airport has installed 22 units of Carmanah's A601 blue solar aviation lights for use at the main airport taxiway. Purchased through Carmanah's Australian distributor, Orion Solar, the solar aviation lights proved the ideal solution for delivering crucial taxiway lighting to an area with limited power supply.

City of Toronto Upgrades Public Facility with Solar Power
(June 19, 2008) The City of Toronto is powering one of its recreational facilities without utility power. As part of the Toronto Atmospheric Fund's SolarCity program - an initiative that promotes the use of solar thermal and photovoltaic generation equipment on city and community-owned facilities and residences - the City of Toronto has chosen a Carmanah stand-alone DuraGEN™ solar engine to provide clean, pollution-free power to the outdoor "splash park."

City of North Bay Grid-Tie Solar Power System Launched
(June 12, 2008) Installation is complete on the City of North Bay's 10kW grid-tie solar power system from Carmanah Technologies Corporation. The solar power system was installed on the roof of the mezzanine of North Bay City Hall as part of an initiative to reduce the City's environmental footprint and to help engage the community in the initiative to reduce its impact on global warming.

Tallahassee, Florida Goes Green with Solar Transit Lighting
(June 11, 2008) The capital city of Tallahassee, Florida has made a three-year commitment to greening its bus stops with Carmanah i-SHELTER and i-STOP solar transit lighting systems. The stand-alone solar powered lighting systems were purchased by the StarMetro transit agency to enhance customer convenience and help increase evening ridership.

Carmanah's EvenLit Light Panel Chosen by Canadian Retail Chain
(June 9, 2008) Carmanah's LED Sign Group has received an order through a reseller to supply a quantity of EvenLit™ LED edge-lit light panels to a major Canadian retail chain. This is the second order for Carmanah's ultra-slim, environmentally-friendly lightbox product for this particular customer, who leases the light panels to its vendors to advertise their products in-store.

For more information, visit sales updates on Carmanah.com.
Media Coverage

Victoria Times Colonist: "High-tech sector still a bright light"
(June 28, 2008) Greater Victoria's dream of a high-tech future as Silicon Valley North was struck another blow this week with the announcement that Carmanah Technologies Corp. is moving its manufacturing offices all the way to Singapore.

Victoria Times Colonist: "Canaccord upgrades Carmanah: Experts say the plant closure and job cuts were necessary"
(June 27, 2008) Slashing 85 jobs and closing its manufacturing plant was a difficult decision but necessary to the financial stability of Carmanah Technologies Corp., analysts and technology experts said yesterday.

CanWest News Service: "Carmanah-Layoffs"
(June 25, 2008) A high-tech Victoria company will start manufacturing its solar-powered lighting products overseas, immediately costing 24 jobs on Vancouver Island. The cuts come as Carmanah Technologies closes its manufacturing centre in Victoria -- and the shutdown will also mean 13 additional job losses in Alberta and California. CEO Ted Lattimore hopes the changes will return the company to more sustained and profitable growth.

Business Examiner: "Carmanah Turns the Corner"
(June 2, 2008) There was a time when Carmanah Technologies or its CEO Art Aylesworth won every business award going, when the most striking feature of every annual report was a bar graph showing precipitously climbing sales, and when the only fly in the ointment was some muttering in the wings from analysts about an unimpressive return on investment. The muttering grew as the small profits turned, in 2006, to small, then, in 2007, big losses. But happy days are here again for the producer of solar-powered lighting: 2007 saw new people gradually fill the key leadership positions at the firm: the new team bit the bullet declaring one-time losses in the 2007 annual report and before the ink had dried had produced results for the first quarter of 2008 showing the first profit in six quarters.
For more information, visit media clippings on Carmanah.com.

[meinolf67]

Carmanah Receives $2.1 Million Order from USMC
for Solar-Powered Airfield Lighting


VICTORIA, BRITISH COLUMBIA, CANADA (July 08, 2008) Carmanah Technologies Corporation (TSX: CMH) is providing solar-powered airfield lights for United States Marine Corps (USMC) installations in the Middle East. Valued at more than $2.1 million in total, this most recent order will enable the facilities to upgrade their five-year-old Carmanah lights with the company's latest, high-visibility lighting technology. Once installed, the new stand-alone airfield lights will help preserve the safety of air traffic and airport personnel by providing bright and reliable lighting for taxiways and runways within this extremely challenging environment.

For this application, the USMC order includes a selection of solar-powered aviation lights ranging from Carmanah's A601 taxiway lights to the company's wireless A704-5 GEN II runway lights. Offering a quick and easy installation, versatile operation, and no scheduled maintenance for up to five years, the stand-alone solar-powered airfield lights offer an effective and dependable alternative for improving operational safety at each facility.

Industry proven for reliable operation in a range of environments, Carmanah solar-powered LED aviation lights are installed at some of the world's busiest airports, including Chicago O'Hare International Airport, Dubai International Airport, Gatwick International Airport, Singapore Changi International Airport and Toronto Pearson International Airport. For more information, visit www.solarairportlights.com.

[meinolf67]

July 15, 2008

Carmanah Partners with ENCOM to Offer
Wireless Control of Solar-Powered Traffic Beacons


VICTORIA, BRITISH COLUMBIA, CANADA (July 15, 2008) - Solar technology provider Carmanah Technologies Corporation (TSX: CMH) has partnered with ENCOM Wireless Data Solutions Inc. to add a wireless interface capability to its line of stand alone solar-powered traffic beacons. According to Richard Chesson, Carmanah Vice President, Marketing and Business Development, this arrangement represents the next step in the evolution of Carmanah's solar powered LED (light emitting diode) lighting technology for traffic applications.

"A key benefit of a solar powered beacon is convenience -- its easy to install, generates its own electricity, and operates automatically for years with little or no maintenance," said Chesson, "so how do you make it even better? We believe the answer is wireless interactivity; and who better to provide that capability than ENCOM -- an established industry leader in wireless technologies, specializing in the traffic industry. We know our customers already trust ENCOM as the standard for wireless communications in the traffic industry, so now we'll be able to offer our flashing beacons with this proven technology built right in. With ENCOM technology providing remote interface and control capabilities, our Carmanah solar-powered flashing beacons will offer our customers new levels of versatility and flexibility," added Chesson.

"We are delighted to be joining forces with Carmanah -- a leader in its field," said Joaquin Segl, General Manager of ENCOM. "This partnership follows our strategy to provide unmatched wireless solutions by collaborating with the best companies. People seeking reliable, flexible and robust solar-wireless solutions will benefit greatly from the combined experience and innovative spirit of our two companies."

Carmanah solar-powered traffic beacons are currently used for a range of roadway and intelligent traffic system (ITS) functions across North America. With no need for trenching, cabling or wiring, Carmanah beacons install quickly and easily onto new or existing signposts for fast, economical installations and minimal disruption to traffic. Bright, durable and long lasting, Carmanah flashing beacons can help motorists and pedestrians spot signage and identify hazardous road conditions, day and night, along roads, highways, construction zones, parking areas, school zones and more.

For more information, visit the Carmanah booth (#413) at the IMSA International 2008 Conference in Phoenix, Arizona (July 15-23, 2008), or visit Carmanah online at www.roadlights.com.

[meinolf67]

Carmanah Partners with ENCOM to Offer Wireless Control of Solar-Powered Traffic Beacons
(July 15, 2008) Carmanah has partnered with ENCOM Wireless Data Solutions Inc. to add a wireless interface capability to its line of stand-alone solar-powered traffic beacons. According to Richard Chesson, Carmanah Vice President, Marketing and Business Development, this arrangement represents the next step in the evolution of Carmanah's solar-powered LED (light emitting diode) lighting technology for traffic applications.

Carmanah Receives $2.1 Million Order from United States Marine Corp
(July 08, 2008) Carmanah is providing solar-powered airfield lights for United States Marine Corps (USMC) installations in the Middle East. Valued at more than $2.1 million in total, this most recent order will enable the facilities to upgrade their five-year-old Carmanah lights with the company's latest, high-visibility lighting technology. Once installed, the new stand-alone airfield lights will help preserve the safety of air traffic and airport personnel by providing bright and reliable lighting for taxiways and runways within this extremely challenging environment.

For more information, visit news releases on Carmanah.com.
Sales Updates

Carmanah to Showcase Solar Solutions at Remote 2008 Conference & Expo
(July 29, 2008) Carmanah will participate in the seventh annual Remote 2008 Conference & Expo to be held November 5-6 2008, in Atlanta, GA. This technology-driven and solution oriented event brings together the innovators and users from multiple industries, including utilities, power, oil & gas, telecom, industrial, water and public utilities, agriculture and facilities management.

For more information, visit sales updates on Carmanah.com.
Media Coverage

North American Clean Energy "Powering a Government Facility with Grid-tied Solar Technology"
(July 28, 2008) In the spring of 2008, the Department of Public Works and Government Services Canada celebrated the opening of the new Jean Canfield Building in Charlottetown, PEI, declaring it one of the most environmentally friendly buildings ever constructed by the Government of Canada --

NorthernLife.ca "Running for the Planet"
(July 28, 2008) Actor Matt Hill, 40, and motivational speaker Stephanie Tait, 26, are running full out for planet Earth. The cross-continent 11,000 mile marathon will take them a year to complete. The couple have received sponsorship from a wide number of green companies and organizations including Carmanah Technologies, Planet Organic, Go Power as well as mainstream companies such as BC Hydro, Home Depot and Telus --

Canadian Property Management "Kelowna Goes Green with Solar Powered Area Lighting"
(July 10, 2008) "The City of Kelowna recently launched its latest green initiative with the unveiling of a new type of solar-powered LED area light near the entrance to City Hall - the first of many stand-alone lights that will soon illuminate parks and pathways throughout the city --

Victoria Times Colonist "Carmanah Bags $2-Million Deal"
(July 9, 2008) The U.S. Marine Corps has ordered solar-powered airfield lights valued at more than $2 million from Carmanah Technologies Corp. These high-visibility lights will be installed in the Middle East at locations where Carmanah lights were set up five years ago --

Globe and Mail "As China Booms, Canada Inc. Misses Out"
(July 1, 2008) -- Yet only a handful of companies, most of them as small or smaller than Westport, have won environmental business in China. B.C. officials point to Carmanah Technologies Corp., a Victoria-based company that makes solar-powered lights, signs and power systems; Vecima Networks Inc., another company based in Victoria, which makes products for broadband access; and Vancouver-based Xantrex Technology Inc. --

[meinolf67]

August 13, 2008

Carmanah Announces Financial Results for Q2 2008


VICTORIA, BRITISH COLUMBIA, CANADA - Wednesday, August 13, 2008 - Carmanah Technologies Corporation (TSX: CMH) announces its second quarter financial results for the three-month period ended June 30, 2008.

The second quarter of 2008 represented a further milestone for Carmanah as the Company completed the final phase of its strategic renewal, entering into some significant partnerships, increasing sales, further reducing expenses, improving efficiency and achieving its second profitable Adjusted EBITDA (adjusted for restructuring charge) quarter in a row.

Highlights for the Quarter

* Increased sales: quarter-over-quarter sales up approximately 13.2%, after adjusting for the late 2007 sale of the home power business
* Gross margin up: 32.5% for 2008, up from 20.1% in 2007
* Operating costs reduced: $5.0 million (excluding restructuring costs), down from $6.7 million for the same period of 2007
* Improved bottom line: Net loss of $0.4 million compared to $3.0 million for the same period of 2007
* Higher Adjusted EBITDA: Adjusted EBITDA of $0.4 million compared to $(3.9) million for the same period in 2007
* Continued positive cash flow from operations: $1.5 million, compared to $2.2 million for the same period in 2007
* Cash balance increased: $5.5 million, up from $1.5 million for the same period of 2007

Summary of Results

The second quarter of 2008 saw considerable change, as Carmanah embarked on the next phase in its restructuring with the goal of increasing its focus and returning the Company to sustained, profitable growth. According to Ted Lattimore, Carmanah CEO, these changes have laid the groundwork for a more focused and responsive organization. "Based on the findings of our Company-wide evaluation completed in the first quarter of 2008, it became clear that some significant changes were necessary to return the Company to a more profitable footing," said Lattimore. "On June 25th we implemented these changes, and now with the majority of this transition behind us, the Company is free to move ahead as a more agile and responsive business. By focusing on our core strengths, controlling costs, and increasing the scalability and efficiency of our supply chain, we're now free to focus on what we do best: delivering quality solar-powered lights and power systems. And we can do it more efficiently and effectively than ever before."

Confirming this assessment, Roland Sartorius, Carmanah CFO, commented that throughout the second quarter of 2008, the Company has maintained its positive growth trend, showing increased sales and improved earnings over the same period last year, while benefiting from lower operating costs and a healthy cash balance. "Even with the costs and strategic challenges of implementing this comprehensive restructuring, the Company has achieved its second quarterly positive Adjusted EBITDA in a row," said Sartorius. "As expected, the restructuring charge, which will be recorded over the next several quarters, is on schedule and to be recovered during the 2009 fiscal year. With increased cash, no bank debt, and continued positive cash flow, we're going into the next quarter looking stronger than ever."

Sales

Sales for the second quarter of 2008 were $15.7 million, $0.3 million higher than the same period in 2007. Solar LED sales provided strong growth in the quarter, with our solar marine, aviation and obstruction beacons leading the way. This growth was offset by lower sales in Solar Power Systems, primarily due to the fact that a significant grid tie project in Prince Edward Island was completed in the second quarter of 2007. There were no such comparable large scale projects in the second quarter of 2008. A summary of revenues from each of the Strategic and Tactical business segments is shown below:


Sales


For the period ended June 30,

($ thousands)


2008


2007


Change




$


Mix


$


Mix


$


%

Strategic



















Solar LED Lights


5,727


36.4%


4,138


26.8%


1,589


38.4%

Solar Power Systems


552


3.5%


2,046


13.3%


(1,494)


(73.0%)




6,279


39.9%


6,184


40.1%


95


1.5%

Tactical



















Distribution


6,485


41.2%


7,401


48.0%


(916)


(12.4%)

Signage


2,984


18.9%


1,840


11.9%


1,144


62.2%




9,469


60.1%


9,241


59.9%


228


2.5%

Total


15,748


100.0%


15,425


100.0%


323


2.1%



Summary of EBITDA and Net Income

* Adjusted EBITDA for Q2 2008 was $0.4 million, compared to $(3.9) million for the same period in 2007.
* Adjusted EBITDA year to date was $1.1 million, compared with $(4.2) million for the same period in 2007.
* Net loss for Q2 2008 was $0.4 million compared to $3.0 million for the same period of 2007.
* Net loss year to date was $0.3 million compared to $3.5 million for the same period in 2007.

Non-GAAP Measures

The Company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is net income (loss) before interest, income taxes, amortization, and restructuring charge ("Adjusted EBITDA").


Adjusted EBITDA reconciliation


Three months ended


Six months ended

($ thousands)


June 30, 2008


June 30, 2007


June 30, 2008


June 30, 2007

Net income (loss)


(354)


(3,050)


(271)


(3,514)

Add (deduct):













· Interest


(30)


58


(59)


84

· Income taxes


(32)


(1,263)


318


(1,342)

· Amortization


267


313


521


570

· Restructuring charge


551


-


551


-

Adjusted EBITDA


402


(3,942)


1,060


(4,202)

Progress During the Quarter (including subsequent events)

With a 2008 second quarter Adjusted EBITDA of $0.4 million compared to loss of $(3.9) million for the same period of 2007, the second quarter of 2008 continues the momentum initiated in the first quarter of 2008. During this quarter, Carmanah announced a decision based on first-quarter results and market trends in both of strategic and tactical segments to further refine and accelerate the Company's focus on its strategic direction. As a result, four major restructuring initiatives were announced, effective June 25th, 2008:

* Outsourcing of manufacturing: To help maximize the efficiency of its supply chain while providing a flexible infrastructure for scalable growth, the Company partnered with electronics manufacturing services provider Flextronics International to outsource production of its solar technology products to Flextronics' manufacturing facilities around the world.
* Exiting of certain tactical distribution businesses: Faced with increased commoditization and pricing pressures on its solar component and solar-powered bus shelter distribution businesses, Carmanah consolidated its operations by initiating the closure of its US solar component distribution business, Santa Cruz, California warehouse, and Calgary, Alberta office and warehouse.
* Moving to a more efficient regional geographic sales model: To increase the efficiency of its sales organization and improve customer service, Carmanah restructured its global sales force from a vertical-specific format to a regional geographic model. The more versatile regional sales model is expected to create new opportunities for sales representatives and customers by making all Carmanah products accessible to all complementary markets.
* Simplifying and reducing the cost of its organizational structure: To increase operational efficiency and effectiveness while further reducing operating costs, Carmanah streamlined its organizational structure and reduced staff across various departments including operations, marketing, and general and administrative departments.

Other highlights during this quarter included:

* Carmanah announced the appointment of Grant Byers and Rob Cruickshank to the Board of Directors, with Carmanah founder Dr. David Green accepting the role of Chairman of the Board, in place of Art Aylesworth (June 19)
* Carmanah provided solar-powered airfield lights for a United States Air Force installation in the Middle East. The $463,000 order will upgrade the facility's five-year-old system of A702 solar-powered airfield lights with wireless, high-visibility A704-5 GEN II runway lights. (June 13)
* Carmanah received an additional purchase order of $1.1 million from Trueform Engineering Ltd. for London Bus Stop systems as part of an ongoing commitment to equip Transport for London transit routes with solar-powered lighting and communications technology. (May 29)
* Innovation Award: In a competitive category filled with more than 20 outdoor lighting products from industry leaders such as GE, Cooper Lighting and Philips, Carmanah's EverGEN™ solar -powered LED area light received the "Judges' Citation" Innovation Award at LIGHTFAIR International 2008 -- North America's premier annual lighting industry event for architectural and commercial lighting products and services. (May 28)
* Carmanah and Beta Lighting partnered to deliver a BetaLED™ solar-powered lighting solution. BetaLED developed an LED lighting fixture designed specifically for Carmanah's EverGEN™ solar engine to make Carmanah's award-winning EverGEN solar area light even better. (May 20)
* Carmanah formerly announced a new $10.0 million, three-year committed operating facility arrangement with BMO Financial Group that will offer greater convenience, flexibility and stability for the long term. (May 13)
* Carmanah received an order to supply solar-powered portable airfield lights for Bariven S.A. in Venezuela, a subsidiary of PDVSA. The $800,000 order will provide the tools to equip Venezuela's Carúpano Airport with a stand-alone system of solar-powered LED aviation lights. (April 02)

Complete set of Financial Statements and Management Discussion & Analysis

A complete set of the second quarter 2008 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit:
www.carmanah.com/content/investors/financialreports.aspx.

[meinolf67]

Carmanah 'has turned the corner'
CEO says firm is building strength in all vital areas
Andrew A. Duffy, Times Colonist
Published: Thursday, August 14, 2008

Calling it another step in a transition year for the company, Carmanah Technologies CEO Ted Lattimore used the platform of its second-quarter results announcement to say the Victoria firm is starting to turn a corner.

"We are not yet the torrid growth machine we are all looking forward to, but we are building strength in all areas -- financial performance and stability, production and development and developing strategic alliances, and sales and marketing cohesion," Lattimore said.

"Two positive quarters does not quite a trend make, although management is clearly encouraged by having the opportunity to report a second successive outcome of our strategy."

Carmanah reported sales growth of 13.2 per cent in the second quarter of 2008 compared to the same time in 2007, with $15.7 million in sales led by solar-powered LED lighting.

The company also noted it realized a $1.7-million improvement in operating costs over the same period, but it was not able to match the financial results of the first quarter of this year, when it posted a $100,000 profit -- the first profit the company had seen in a year and a half.

Carmanah's net loss for the second quarter of 2008 was $400,000, though that was an improvement over the $3-million loss it suffered in the second quarter of 2007. The company lost a total of $9 million last year.

"We are not yet where we want to be, but we are on track and encouraged by the progress," he said.

Taking a bite out of the operating budget was $551,000 in costs associated with the restructuring the company announced in late June.

Carmanah slashed its workforce by eliminating 37 positions, 24 of them in Victoria, with plans to further reduce the numbers by another 48 by the end of the year.

The company also announced it would move its manufacturing to Calgary and close warehouses and offices in Calgary and Santa Cruz, Calif.

According to chief financial officer Roland Sartorius, the $551,000 was made up mainly of severance packages and terminations as well as some inventory writedowns. The company estimates further restructuring costs to be about $2.8 million, which Sartorius said will be spread over the next several quarters.

Lattimore was also trying to put a positive spin on the restructuring yesterday.

"Restructuring creates certain wounds but these are quickly healing," he said. "It was a difficult point in time for Carmanah's employee stakeholders, yet employees and even the Victoria community quickly understood the positives in our changes."

Carmanah's stock price (TSX:CMH) closed down two cents yesterday to $1.07.

[e-mail]

[meinolf67]

September 2008

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Recent Highlights:

*
Carmanah Announces Financial Results for Q2 2008
*
Times Colonist "Carmanah has Turned the Corner"
*
City of Tallahassee news release "StarMetro Goes Green with Solar Lighting"
*
Discovery Channel Online "Building a Better Bus Stop --"
*
LED Professional "Solar LED Lighting: City of Kelowna Goes Green --"

Plus more news and updates.


Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
News Releases

Carmanah Announces Financial Results for Q2 2008
(August 13, 2008) Carmanah announced its financial results for the three-month period ended June 30, 2008. The second quarter of 2008 represented a further milestone for Carmanah as the company completed the final phase of its strategic renewal, entering into some significant partnerships, increasing sales, further reducing expenses, improving efficiency and achieving its second profitable Adjusted EBITDA (adjusted for restructuring charge) quarter in a row.

Teleconference Online
(August 14, 2008) On August 13, 2008, Carmanah held a teleconference to discuss its 2008 Q2 financial results; audio recordings of this teleconference are now available online.

For more information, visit news releases on Carmanah.com.
Sales Updates

Cruise Line Chooses Carmanah LED Light Panels for Onboard Promotions
(August 25, 2008) Carmanah's LED Sign group has received an order from a leading cruise line for the company's ultra slim LED edge-lit EvenLit™ light panels to be used for onboard promotions. An existing customer for Carmanah's engraved edge-lit gaming signs, the line's gaming operations management chose the Carmanah light panel for its unparalleled slimness, versatility and zero-maintenance operation.

Carmanah Table Game Signs Deliver Added Value for Game Developer
(August 21, 2008) Carmanah's LED sign group has recently received a series of orders for branded LED edge-lit table game signs from a leading Las Vegas-based table game developer. The eye-catching engraved signs add value for casinos purchasing the branded table games, enhancing each game's profile while helping drive player traffic to the table.

Aruba Airport Authority Illuminates Taxiways with Carmanah Solar Aviation Lights
(August 15, 2008) The taxiways of Aruba airport will be illuminated with Carmanah Model A601 solar aviation lights. Chosen in part for their easy, non-technical installation, the lights will be installed using Carmanah's mounting hardware.

Carmanah Completes BetaLED Solar Area Lighting Trial Installation
(August 11, 2008) Carmanah has completed its first trial installation of its new solar-powered area lighting solution with the BetaLED™ THE EDGE™ light fixture. Installed on a university campus in the Pacific Northwest, the technology is being used to illuminate a pathway within a parking area on the campus grounds.

For more information, visit sales updates on Carmanah.com.
Media Coverage

Victoria Times Colonist "Carmanah 'has turned the corner': CEO says firm is building strength in all vital areas"
(August 14, 2008) Calling it another step in a transition year for the company, Carmanah Technologies CEO Ted Lattimore used the platform of its second-quarter results announcement to say the Victoria firm is starting to turn a corner. "We are not yet the torrid growth machine we are all looking forward to, but we are building strength in all areas -- financial performance and stability, production and development and developing strategic alliances, and sales and marketing cohesion," said Lattimore.

City of Tallahassee news release "StarMetro Goes Green with Solar Lighting"
(August 11, 2008) Beginning this week, StarMetro will install 88 Carmanah i-STOP solar lighting systems. The stand-alone solar-powered lighting systems will provide increased safety and security for evening riders.

Discovery Channel Online "Building a Better Bus Stop with Tommy Lee and Ludacris: The i-Shelter Makes the Bus Stop Experience Brighter"
(August 05, 2008) "Battleground Earth, Tommy Lee and Ludacris trade in their microphones for hammers and construct a solar powered shelter. After the hard labor, they work out a jam session in their eco-friendly creation. Learn more about their slamming i-Shelter and how you can lobby for one in your area."

LED Professional "Solar LED Lighting: City of Kelowna Goes Green with Solar-Powered Area Lighting"
(August 5, 2008) A case study on using solar-powered LED area lights to illuminate parks and pathways throughout a community. Published in LED Professional magazine -- an industry resource for LED and solid-state technologies used in general lighting applications.

For more information, visit media clippings on Carmanah.com.

[meinolf67]

September 30, 2008

Carmanah Receives $1.2 Million Order for Solar-Powered Airfield Lights


VICTORIA, BRITISH COLUMBIA, CANADA (September 30, 2008) Carmanah Technologies Corporation (TSX: CMH) has received a follow up order through Dubai-based GESOLAR - the company's authorized aviation distributor in the United Arab Emirates (UAE) - to supply additional solar-powered portable airfield lights for civilian airfield applications. This latest order, valued at more than $1.2 million, provides the tools to enhance visibility and safety at remote airfields using stand-alone LED (light emitting diode) lights.

The order includes Carmanah A704-5 runway edge lights, approach lights and threshold lights, as well as A601 taxiway lights, mounting hardware and wireless handheld radio remote-control equipment. A programmable interface enables the user to set on/off times, brightness levels, flash patterns, infrared or visible outputs and more.

As one of the world's largest suppliers of self-contained solar-powered airfield lights, Carmanah offers lighting products for a range of airfield applications, including permanent primary lighting, temporary lighting during airfield construction or upgrades, emergency backup lighting, as well as expedited portable lighting during emergency or humanitarian aid operations. With thousands of systems in operation, the company's solar-powered airfield lights have been field-proven to operate reliably in even the most challenging environmental conditions, including extreme temperatures, poor solar conditions, sandstorms and flooding.

Carmanah solar LED aviation lights are available from Carmanah Technologies Corporation. For more information, visit www.carmanah.com.

[meinolf67]

October 2008

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Recent Highlights:

*
Carmanah Receives $1.2 Million Order for Solar-Powered Airfield Lights
*
Kelowna named as a finalist for LiveSmart BC Green Cities Award
*
Carmanah Introduces New M708 Marine Lantern
*
New Orleans to Replace School Beacons with Solar-Powered Flashing Lights
*
Carmanah Receives $1 Million Order to Power Telecom Project in North Africa


Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
News Releases

Carmanah Receives $1.2 Million Order for Solar-Powered Airfield Lights
(September 30, 2008) Carmanah has received a follow up order through Dubai-based GESOLAR - the company's authorized aviation distributor in the United Arab Emirates (UAE) - to supply additional solar-powered portable airfield lights for civilian airfield applications. This latest order, valued at more than $1.2 million, provides the tools to enhance visibility and safety at remote airfields using stand-alone LED (light emitting diode) lights.

Solar-Powered Marine Lantern Offers Big Performance in a Compact Form Factor
(September 22, 2008) Carmanah today announced a new flagship product in its line of solar-powered marine beacons: the M708 marine lantern. Combining an advanced optical design with high-efficiency solar modules and high-efficacy LEDs, the M708 is Carmanah's highest output LED marine lantern to date. Building on the company's industry-proven technology, the new M708 lantern offers increased optical efficiency, improved light uniformity, and unparalleled light performance in a compact solar-powered unit.

Carmanah Receives $1 Million Order to Power Telecom Project in North Africa
(September 12, 2008) Carmanah has received an initial $1 million order from Lyon, France-based telecom provider TWIST to supply solar power systems for a telecommunications project in North Africa. The project, facilitated by Solergitech, Carmanah's authorized distributor in the region, will power a network of telecommunications towers with the company's stand-alone solar power systems. According to Ted Lattimore, Carmanah CEO, this application - as a part of an ongoing project with an estimated value of up to $6 million over the next three years - represents a significant market opportunity for the Victoria-based solar technology company.

For more information, visit news releases on Carmanah.com.
Media Coverage

Kelowna Named as a Finalist for LiveSmart BC Green Cities Award: Province Recognizes City's Sustainability Efforts" City of Kelowna
(September 29, 2008) The City of Kelowna placed second in this year's provincial LiveSmart BC Green Cities Award for the over 100,000 population category and has been awarded $20,000 to further develop solar initiatives in an effort to conserve and promote clean energy through the province's SolarBC program. - The application highlighted numerous initiatives including the installation of 100 Carmanah EverGEN solar-powered area lights.

"Powering a Green Facility with Grid-tie Solar Technology" Electrical Business
(September 2008) The new Jean Canfield Building in Charlottetown, P.E.I., is one of the most environmentally friendly buildings ever constructed by the Government of Canada. To help increase efficiency and reduce energy costs, a grid-tie solar power system generates up to 111,000 watts of electrical power.

School Beacons Being Replaced: Flashing Lights will be Solar Powered" The Times-Picayune
(September 17, 2008) [New Orleans] has begun replacing 205 school-zone flashing beacons that were damaged by Hurricanes Katrina and Rita three years ago. The flashing lights mark school zones at 82 New Orleans public and private schools. The new flashing beacons will be powered by solar panels, reducing their energy consumption and saving money, he said. "Switching to LED technology and utilizing solar power will reduce annual maintenance and operational costs," he said.

For more information, visit media clippings on Carmanah.com.

[meinolf67]

September 12, 2008

Carmanah Receives $1 Million Order to Power
Telecom Project in North Africa with Solar Technology

VICTORIA, BRITISH COLUMBIA, CANADA (September 12, 2008) Carmanah Technologies Corporation (TSX: CMH) has received an initial $1 million order from Lyon, France-based telecom provider TWIST to supply solar power systems for a telecommunications project in North Africa. The project, facilitated by Solergitech, Carmanah's authorized distributor in the region, will power a network of telecommunications towers with the company's stand-alone solar power systems. According to Ted Lattimore, Chief Executive Officer of Carmanah, this application -- as a part of an ongoing project with an estimated value of up to $6 million over the next three years -- represents a significant market opportunity for the Victoria-based solar technology company.

"As Carmanah extends its offerings throughout Europe, Africa and the Middle East, we're finding a great interest in our stand-alone solar power systems for all types of communications applications," said Lattimore. "Considering the remote locations of many of these installations, it's easy to see the appeal. A solar power system is durable, reliable and convenient; just install it wherever you need power -- with solar, there's no need to worry about grid access, fuel deliveries or generator maintenance," added Lattimore.

For this application, Carmanah is equipping each of the remote telecom towers with a fully integrated solar-power system including solar modules, controllers and batteries -- all optimized for maximum performance within the region's challenging geographic and environmental conditions. As a reliable source of high-quality power, Carmanah's solar power technology is providing a robust, low maintenance remote energy alternative.

For more on powering remote telecommunications applications with Carmanah solar technology, see www.solarforindustry.com.

[meinolf67]

October 14, 2008

Illinois Lottery Upgrades Point-of-Purchase Displays
with Carmanah LED Edge-lit Light Panels


VICTORIA, BRITISH COLUMBIA, CANADA (October 14, 2008) Carmanah Technologies Corporation (TSX:CMH) has received an order, valued at approximately $415,000 USD, to supply the Illinois Lottery with LED edge-lit EvenLit™ light panels. The bright contemporary light panels will be installed at retail outlets throughout the state to help identify lottery retailers and promote Illinois Lottery games.

As a compact and lightweight alternative to bulky fluorescent light boxes, each EvenLit light panel measures less than 1" thick, making it ideal for a range of indoor advertising applications. Each of the two-sided window signs identifies the lottery retailer from outside, and promotes specific lottery games from within. With no tubes or bulbs to change, and a product life span of 10 years or more, each LED-illuminated EvenLit panel is easy to use and maintenance free. A simple "snap frame" design enables lottery sales personnel or retailers to refresh graphics quickly and easily.

According to Sarah Cummins, Illinois Lottery Director of Marketing, the EvenLit light panels will provide retailers with an effective, attractive and energy-efficient display option. "These signs are bright, eye-catching and easy to use," said Cummins. "We're pleased to work with Carmanah to provide our retailer network with state-of-the-art signage that identifies retailers, promotes ticket sales and is also environmentally responsible."

The EvenLit light panel is available now from Carmanah. For more information, visit www.carmanah.com.

[meinolf67]

November 2008

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Recent Highlights:

*
Illinois Lottery Upgrades Point of Purchase Displays with Carmanah LED Light Panels
*
A New Harvest at Hidden Bench Vineyards
*
Carmanah Provides Tower Lights for Telecom Applications in Sri Lanka
*
Cleantech 2008: The Cleantech Top 10
*
Lighting Needs Some Bright Ideas - Forbes
*
Flextronics Underscores Commitment to Serve OEMs in the Solar Industry

Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
News Releases

Illinois Lottery Upgrades Point-of-Purchase Displays with Carmanah LED Edge-lit Light Panels (October 14, 2008) Carmanah has received an order, valued at approximately $415,000 USD, to supply the Illinois Lottery with LED edge-lit EvenLit™ light panels. The bright contemporary light panels will be installed at retail outlets throughout the state to help identify lottery retailers and promote Illinois Lottery games.

For more information, visit news releases on Carmanah.com.
Sales Updates

A New Harvest at Hidden Bench
(October 27, 2008) Next fall, Hidden Bench Vineyards and Wintery proprietor Harald Thiel will be harvesting more than just grapes at his Beamsville, Ontario vineyards and winery. As part of Hidden Bench's commitment to minimize the environmental impact of its operations, Thiel has undertaken several initiatives including the use of sustainable agricultural methods, recycling winemaking byproducts, and using geo-thermal energy for heating and cooling. With his new 23kW grid-tied solar power system from Victoria-based Carmanah Technologies, Thiel will be harvesting solar power right along with the Chardonnay and Riesling grapes grown in Hidden Bench's three vineyards.

Carmanah Provides Tower Lights for Telecommunications Applications in Sri Lanka
(October 20, 2008) Working through its authorized distributor in the region, Carmanah is shipping an additional 230 Model 702 solar-powered LED tower lights to Sri Lanka. As part of a larger order totaling approximately 700 lights, these units will help mark cellular telecommunications towers throughout the country.

For more information, visit sales updates on Carmanah.com.
Media Coverage

"CLEANTECH 2008: The Cleantech 10" Corporate Knights
(October 24, 2008) Corporate Knights' 2008 Cleantech 10 list includes Carmanah on its list of tech-driven growth companies that have big impacts on resource efficiency and the environment.

"Lighting Needs Some Bright Ideas" Forbes.com
(October 22, 2008) Last week, the European Union joined Australia, the Philippines and Cuba in finalizing plans to outlaw the sale of incandescent light bulbs by 2010. The U.S. plans to ban the bulbs beginning in 2012. . . Unlike the incandescent era, next-generation lighting technologies are more narrowly tailored to meet the needs of niche markets. Carmanah Technologies, a Canadian renewable energy company, is a case in point.

"Flextronics Underscores Commitment to Serve OEMs in the Solar Industry" MarketWatch
(October 10, 2008) In conjunction with Solar Power International 2008 and in response to customer demand and advanced technology requirements in the solar industry, Flextronics today underscored its commitment to support the manufacturing requirements of solar OEMs with complex market delivery requirements in an increasingly competitive environment. . . Leading solar technology provider Carmanah recently announced a partnership with Flextronics' Industrial segment to help maximize the efficiency of its supply chain while providing a flexible infrastructure for scalable growth. . . "We believe Flextronics, with its flexible, global infrastructure, has the right set of solar capabilities to help our organization quickly scale to meet growth objectives in the competitive solar industry" said Philippe Favreau, COO, Carmanah.

For more information, visit media clippings on Carmanah.com.

[meinolf67]

November 12, 2008

Carmanah Q3 2008 Delivers Sustained Growth and Profitability

VICTORIA, BC, CANADA (November 12, 2008) Carmanah Technologies Corporation (TSX:CMH) today announces its third quarter financial results for the three-month period ending September 2008.

In Q3 2008, Carmanah's recent strategic renewal and restructuring initiative proved especially timely, as the newly streamlined Company navigated challenging global market conditions to deliver its third profitable EBITDA quarter (adjusted for restructuring charge) in a row. While supporting the restructuring initiatives announced in June, the Company introduced a new flagship product to its line of solar LED marine lanterns, entered into a partnership with wireless technology provider ENCOM, and reported significant sales wins in key target markets including aviation lights for airfields in the Middle East and solar power systems for telecommunication towers in North Africa.

Highlights for the Quarter

*
Sales results: $13.9 million down $1.6 million from the same period in 2007, although sales are 4.7% higher when the Q4 2007 sale of the home power business is factored in
*
Gross margin up: 37.7% for 2008, up from 30.5% in 2007
*
Operating costs reduced: $4.6 million (excluding restructuring costs) down from $5.3 million for the same period of 2007 - restructuring charge of $0.5 million during the three month period ended September 30, 2008, compared to nil for the same period of 2007
*
Improved bottom line: Net income of $0.8 million, up from a net loss of $0.8 million in the same period of 2007
*
Higher Adjusted EBITDA: Adjusted EBITDA of $1.5 million, up from negative $0.8 million in the same period of 2007
*
Positive cash flow from operations: $0.2 million, compared to $1.5 million for the same period in 2007 which was due to a one-time reduction of surplus inventory
*
Cash balance increased: $5.5 million, up from $1.4 million in the same period of 2007
*
Nil debt: Continued debt-free operation

Summary of Results

The third quarter of 2008 saw continued progress towards Carmanah's renewed corporate objectives announced at the start of the year, including the ongoing implementation of the major restructuring initiatives introduced in Q2 to support the Company's return to sustained, profitable growth.

According to Ted Lattimore, Carmanah CEO, this renewed focus on the Company's core strengths, combined with a commitment to maximizing efficiency and controlling costs, has helped prepare the Company to weather the recent global economic conditions. "Even in today's challenging times, we can now see how our broad based restructuring last quarter has resulted in our increased strength today," said Lattimore. "With the majority of our transition behind us, Carmanah is now prepared to face the challenges ahead as a much leaner, more focused and responsive business. I am confident that our team has the focus, commitment and skill to persevere, and that the current rocky markets will merely test and clarify our strategy. Even with the challenges of today's stock market, our operating costs remain low, we have cash in the bank, and we're maintaining an overall financial position that is increasingly enviable these days. The key over the coming months will be to keep sales coming, and with our strong industrial markets, our new global sales team and some exciting new products, we're well prepared to do just that."

Carmanah CFO, Roland Sartorius added "...our recent efforts to control costs and support sustained, profitable growth could not have come at a better time. Guided by solid business metrics, our net cash balance has grown from a 2007 low of negative $2 million to more than $5 million as at Q3 2008. We've maintained our positive growth trend - with no bank debt - and recorded our third quarter of positive Adjusted EBITDA and cash flow results in a row," said Sartorius. "Thanks to our loyal customer base, our relevant technology, and an unfaltering commitment to sustainable growth and solid business fundamentals, we believe that Carmanah is in good financial shape for whatever challenges lay ahead - even in today's changeable economic environment."

Sales

Sales for the third quarter of 2008 were $13.9 million; $1.6 million lower than the same period in 2007, due in part to the Company's exit of the tactical distribution business, and from delayed shipments on certain power systems orders.

A summary of revenues from each of the Strategic and Tactical business segments is shown below:


Sales


For the three months ended Sept. 30,

($ thousands)


2008


2007


Change




$


Mix


$


Mix


$


%

Strategic



















Solar LED Lights


7,073


50.9%


5,857


37.7%


1,216


20.8%

Solar Power Systems


646


4.6%


1,146


7.4%


(500)


(43.6%)




7,719


55.5%


7,003


45.1%


716


10.2%

Tactical



















Distribution


4,158


29.9%


6,582


42.4%


(2,424)


(36.8%)

Signage


2,025


14.6%


1,938


12.5%


87


4.5%




6,183


44.5%


8,520


54.9%


(2,337)


27.4%

Total


13,902


100.0%


15,523


100.0%


(1,621)


10.4%


Summary of EBITDA and Net Income

* Adjusted EBITDA for Q3 2008 was $1.5 million, up from $(0.8) million for the same period of 2007
* Adjusted EBITDA year to date was $2.5 million, up from $(5.0) million for the same period of 2007
* Net income for Q3 2008 was $0.8 million up from a net loss of $0.8 million in the same period of 2007
* Net income year to date was $0.5 million, up from a loss of $4.3 million for the same period of 2007

Non-GAAP Measures

The Company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is net income (loss) before interest, income taxes, amortization, and restructuring charge ("Adjusted EBITDA").



Adjusted EBITDA reconciliation


Three months ended


Nine months ended

($ thousands)


Sept. 30, 2008


Sept. 30, 2007


Sept. 30, 2008


Sept. 30, 2007

Net income (loss)


800


(765)


529


(4,279)

Add (deduct):













· Interest


(22)


32


(81)


116

· Income taxes


(312)


(311)


6


(1,653)

· Amortization


759


294


1,280


863

· Restructuring charge


230


-


781


-

Adjusted EBITDA


1,455


(750)


2,515


(4,953)


Progress During the Quarter (including subsequent events)

With a 2008 third quarter Adjusted EBITDA of $1.5 million, up from $(0.8) million in the same period of 2007, the third quarter of 2008 continues the momentum initiated at the start of the year. During this quarter, Carmanah made continued progress in implementing the four major restructuring initiatives - introduced June 25th, 2008 in Q2 - designed to further refine and accelerate the Company's focus on its strategic direction:

*
Transitioning manufacturing to global electronics manufacturing services provider Flextronics International.
*
Exiting its solar component and solar-powered bus shelter distribution businesses, while consolidating its operations by closing its US solar component distribution business, Santa Cruz, California warehouse, and Calgary, Alberta office and warehouse.
*
Moving to a more efficient regional geographic sales model by restructuring its global sales force from a vertical-specific format to a regional geographic model that will make all Carmanah products available to all complementary markets.
*
Simplifying its organizational structure and reducing costs through continued operational efficiencies companywide.

Other highlights during this quarter included:

*
Carmanah received a $1.2 million order for solar-powered airfield lights follow up order through Dubai-based GESOLAR - the company's aviation distributor in the United Arab Emirates - to supply additional solar-powered portable airfield lights for civilian airfield applications. (September 30, 2008)
*
Carmanah announced the M708 marine lantern - the new flagship in its line of solar-powered marine beacons. Combining an advanced optical design with high-efficiency solar modules and high-efficacy LEDs, the M708 is Carmanah's highest output LED marine lantern to date. (September 22, 2008)
*
Carmanah received an initial $1 million order from Lyon, France-based telecom provider TWIST to supply solar power systems for a telecommunications project in North Africa. The project, facilitated by Solergitech, Carmanah's distributor in the region, will power a network of telecommunications towers with the company's stand-alone solar power systems. As a part of an ongoing project with an estimated value of up to $6 million over the next three years this project represents a significant market opportunity for Carmanah. (September 12, 2008)
*
Carmanah partnered with ENCOM Wireless Data Solutions Inc. to add a wireless interface capability to its line of stand-alone solar-powered traffic beacons. This arrangement represents the next step in the evolution of Carmanah's solar powered LED (light emitting diode) lighting technology for traffic applications. (July 15, 2008)
*
Carmanah received a $2.1 million order for solar-powered airfield lights from the United States Marine Corp. for installations in the Middle East. (July 08, 2008)

Complete set of Financial Statements and Management Discussion & Analysis

A complete set of the third quarter 2008 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/content/investors/financialreports.aspx.

Conference Call Details

To discuss the third quarter 2008 results, Carmanah has scheduled a conference call for 2:00 pm PT (5:00 pm ET) on Wednesday November 12, 2008. To access this conference call by telephone, dial 1.888.882.9090 (Canada and US) or +1.403.770.0861 (international) approximately five to ten minutes before start time. When prompted for the participant code, enter 2510558.

A recording of the conference will also be available on Carmanah's corporate web site within three business days. For more information, visit www.carmanah.com.

[meinolf67]

November 19, 2008

Bariven S.A. Upgrades Venezuela's Airport De Guiria
with Solar-Powered Aviation Lights from Carmanah Technologies

VICTORIA, BC, CANADA (November 19, 2008) Carmanah Technologies Corporation (TSX: CMH) has received an order to supply solar-powered portable airfield lights for Bariven S.A. in Venezuela, a subsidiary of PDVSA. The order - valued at approximately $700,000 - will provide the tools to equip Venezuela's Airport De Guiria with a stand-alone system of solar-powered LED (light emitting diode) aviation lights. Serving the Gulf of Paria, the Airport De Guiria offers convenient access for residents and visitors to this seaside community, while accommodating around-the-clock support and emergency response for local industrial enterprises including offshore oil developments within the region.

Cost effective, energy efficient, and easy to install, Airport De Guiria's new solar-powered lighting system includes Carmanah ICAO-compliant A704-5 runway edge lights, threshold lights, handheld radio controllers, A601 taxiway lights and supporting mounting hardware for permanent installation. Using the programmable interface, the user can set on/off times, brightness levels, flash patterns, infrared or visible outputs and more.

As the world's largest supplier of self-contained solar-powered LED airfield lighting technology, Carmanah provides a wide range of innovative and environmentally sustainable lighting solutions, field-proven to endure challenging environmental conditions including extreme temperatures, poor solar conditions, sandstorms, and flooding. With thousands of systems in operation, Carmanah provides the tools for a full range of airfield lighting and power applications, including permanent, portable, temporary and emergency lighting systems.

For more information on Carmanah solar-powered aviation lights, visit carmanah.com.

[meinolf67]

December 2008

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Recent Highlights:

*
Solar-Powered Obstruction Light Marks Towers with Bright 32.5-Candela LED Beacon
*
Bariven S.A. Upgrades Venezuela's Airport De Guiria with Solar-Powered Aviation Lights
*
Carmanah's Bright New Marine Lanterns Destined for Singapore Waterways
*
Carmanah Q3 2008 Delivers Sustained Growth and Profitability
*
"Catch these Companies on the Rebound" Globe and Mail

Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
News Releases

Solar-Powered Obstruction Light Marks Towers with Bright 32.5-Candela LED Beacon (December 3, 2008) Carmanah today introduced a new benchmark in solar-powered obstruction lighting: the solar-powered A810 Obstruction Lighting System. Suitable for marking towers and other fixed obstructions up to 150 feet (46 meters) in height, this stand-alone lighting system installs quickly to produce a bright, steady red signal wherever it's needed. . .

Bariven S.A. Upgrades Venezuela's Airport De Guiria with Solar-Powered Aviation Lights
(November 19, 2008) Carmanah has received an order to supply solar-powered portable airfield lights for Bariven S.A. in Venezuela, a subsidiary of PDVSA. The order, valued at approximately $700,000, will provide the tools to equip Venezuela's Airport De Guiria with a stand-alone system of solar-powered LED (light emitting diode) aviation lights. Serving the Gulf of Paria, the Airport De Guiria offers convenient access for residents and visitors to this seaside community, while accommodating around-the-clock support and emergency response for local industrial enterprises including offshore oil developments within the region. . .

Carmanah Q3 2008 Delivers Sustained Growth and Profitability
(November 12, 2008) Carmanah today announced its third quarter financial results for the three-month period ending September 2008. In Q3 2008, Carmanah's recent strategic renewal and restructuring initiative proved especially timely, as the newly streamlined company navigated challenging global market conditions to deliver its third profitable EBITDA quarter (adjusted for restructuring charge) in a row. . .

For more information, visit news releases on Carmanah.com.
Sales Updates

Carmanah's Bright New Marine Lanterns Destined for Singapore Waterways
(November 13, 2008) Carmanah's top-of-the-line M708 marine lantern will soon be lighting waterways around Singapore. Kemsa (Far East) PTE Ltd. -- the company's authorized distributor in Singapore -- has issued an initial order for approximately 30 of the high-output solar-powered lanterns for marine applications throughout the region. According to KEMSA representatives, the new lantern's compact, self-contained form factor, combined with its impressive five-to-six nautical mile output, offer a considerable advantage over earlier lighting alternatives making this versatile solar-powered lantern suitable for an even wider range of navigational and hazard-marking applications. . .

For more information, visit sales updates on Carmanah.com.
Media Coverage

"Solar Power Drives LEDs for General Illumination" LEDs magazine
(December 1, 2008) Against a climate of rising energy costs and escalating environmental concerns, today's advanced LED technology is creating new opportunities in solar-powered area lighting. Thanks to a new generation of bright and efficient LEDs, solar-powered lighting is expanding from its role in signal lights and flashing beacons to offer a renewable energy alternative for general illumination applications. . .

"Solar-Powered LED Lighting" EarthToys Renewable Energy Emagazine
(November 28, 2008) Would you say this a good time for solar-powered LED general lighting? Definitely! And there are many reasons why the time is right. . .

"Carmanah's huge restructuring creates $800,000 Q3 profit" Victoria Times Colonist
(November 13, 2008) Carmanah Technologies' massive restructuring efforts in June smoothed over what would have been a rough third quarter, company officials said yesterday. The solar power and lighting company said cutting its workforce by 40 per cent, closing its Saanich manufacturing plant and realigning its sales and distribution networks allowed Carmanah to navigate challenging global market conditions and deliver a profitable quarter for the period ending Sept. 30. . .

"Catch these Companies on the Rebound" Globe and Mail
(November 5, 2008) WHAT WE'RE LOOKING FOR: Canadian stocks that are likely to recover from deep losses suffered in the past few months, despite a slowing economy and a general consensus that if we're not in a recession right now, then it is just around the corner. WHAT WE FOUND: . . . Canaccord also included three small-cap picks in its list: infrastructure company Aecon Group Inc., solar-lighting microcap Carmanah Technologies Corp., and broadband-equipment maker Sandvine Corp. . .

[meinolf67]

December 3, 2008

Solar-Powered Obstruction Light Marks Towers and Construction Sites with Bright 32.5-Candela LED Beacon


VICTORIA, BC, CANADA (December 3, 2008) Carmanah Technologies Corporation (TSX:CMH) today introduced a new benchmark in solar-powered obstruction lighting: the solar-powered A810 Obstruction Lighting System. Suitable for marking towers and other fixed obstructions up to 150 feet (46 meters) in height, this stand-alone lighting system installs quickly to produce a bright, steady red signal wherever it's needed. Designed for dependable performance in some of the world's harshest environments, the A810 Obstruction Lighting System offers a reliable and cost-effective alternative to hard-wired lights, in compliance with type L-810 FAA and ICAO guidelines (including FAA certification AC 150/5345-43F, and ICAO certification Annex 14, Low Intensity, Type B).
Carmanah A810 Obstruction Light
As an alternative to grid or generator-powered systems, this reliable, low-maintenance solution is powered entirely by the sun, making it ideal for remote locations or anywhere grid-based electricity is unavailable, unreliable, or just impractical to access. Even for installations where electricity is readily available, the solar-powered A810 Obstruction Lighting System offers unmatched reliability and ongoing cost savings; operating independently of the grid, the solar-powered obstruction light is unaffected by local power outages, regional blackouts, or escalating electricity fees. Long-lasting LEDs provide bright dependable tower lighting for years - a key advantage in hazardous, remote or difficult to service applications - for a safer, cost-effective alternative to more maintenance-intensive forms of lighting. For towers under construction, the A810 obstruction lighting system installs quickly and easily for a fast, economical and versatile lighting solution.

Featuring a high-flux 32.5-candela LED (light emitting diode) light source, the A810 Obstruction Lighting System is powered by a stand-alone power source that integrates all the components of a fully optimized solar power system within a single compact unit. Combining durable corrosion-resistant components with a long-life battery pack and a solid-state light source, the solar-powered A810 Obstruction Lighting System operates automatically, with little or no scheduled maintenance, for up to five years on a single battery pack.

The A810 Obstruction Lighting System is available now from Carmanah. For more information, visit carmanah.com.

[meinolf67]

Carmanah Introduces Solar-powered Roadway Flasher
Featuring ENCOM Wireless Control Technology


VICTORIA, BRITISH COLUMBIA, CANADA (December 10, 2008) - Carmanah Technologies Corporation (TSX: CMH) today introduced a wireless solar-powered flashing beacon suitable for a range of ITS (intelligent traffic systems) roadway applications. The R838 wireless ITS solar flasher incorporates all components - including solar modules, LEDs (light emitting diodes), and wireless activation technology - within a compact and durable stand-alone device.
R838 solar flashing LED light

Thanks to a partnership between Carmanah and ENCOM Wireless Data Solutions Inc., the R838 wireless ITS solar flasher is equipped with industry-proven ENCOM communications technology for versatile, on-demand remote activation. Using the ENCOM handheld controller, multiple beacons can be activated from up to 500 feet away with the push of a button. As a wireless, stand-alone warning flasher, the R838 offers a versatile and cost-effective way for emergency services and traffic agencies to provide advance warning of road conditions ahead, such as road construction (beyond highway on or off-ramps), emergency-vehicle crossings along fire station routes, approaches to weigh scales and more.

Operating independently of the electric grid, the Carmanah R838 wireless ITS solar flasher provides a reliable signal alternative suitable for remote locations, or anywhere grid access is not readily available. With no need for trenching, cabling or wiring, this stand-alone device installs quickly and easily onto new or existing signposts for fast, economical installations and minimal disruption to traffic. Optionally, each R838 unit can be programmed to specify how long to flash before shutting off automatically. Two-way communications provide visual LED confirmation that one or more signals (up to eight) are currently active at the remote site.

Industry proven to operate reliably in some of the world's harshest climates, Carmanah's solar flashing beacon paired with ENCOM wireless control technology offers an unbeatable alternative for intelligent transportation systems.

The wireless R838 wireless ITS solar flasher is available now from Carmanah. For more information, visit www.carmanah.com.

[meinolf67]

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah. For more information, visit What's New on Carmanah.com.



Recent Highlights:

*
Solar-powered Roadway Flasher Features ENCOM Wireless Control Technology
*
Green Government Facility named Canada's Solar Project of the Year
*
Investing in Solar Power (Business News Network)
*
Rising Stars (AeroSafety World)

Contact Carmanah

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
News Releases

Solar-powered Roadway Flasher Features ENCOM Wireless Control Technology
(December 10, 2008) Carmanah today introduced a wireless solar-powered flashing beacon suitable for a range of ITS (intelligent transportation systems) roadway applications. The R838 wireless ITS solar flasher incorporates all components - including solar modules, LEDs (light emitting diodes), and wireless activation technology - within a compact and durable stand-alone device. . .

Green Government Facility Named Canada's Solar Project of the Year
(December 8, 2008) Carmanah received the CanSIA "Solar PV Project of the Year Award" for a grid-tied solar power system installed on the Jean Canfield Building in Charlottetown, Prince Edward Island. . .

Peace sign 2

For more information, visit news releases on Carmanah.com.

Media Coverage

Business News Network (BNN) "Trading Day: Investing in Solar Power"
(January 2, 2009) BNN interviews Adam Krop, solar analyst, Ardour Capital Investments. . .

AeroSafety World "Rising Stars. . ."
(December 17, 2008) Guiding flight crews on the ground with light emitting diodes (LEDs) coincides with airports' growing realization of how much this technology offers beyond mere replacement of red obstruction lights and blue taxiway edgelights. . .

Canadian Property Management "Solar Reinforces Electricity Supply, Lowers Costs"
(December 15, 2008) In the spring of 2008, the Department of Public Works and Government Services Canada celebrated the opening of the new Jean Canfield Building in Charlottetown, PEI, declaring it one of the most environmentally friendly buildings ever constructed by the Government of Canada. . .

Airport-Technology.com "Let There Be Light (Emitting Diodes)"
(December 5, 2008) As winter draws in, airports begin to assess the dangers of low runway visibility. Frances Penwill-Cook looks at the contentious issues surrounding effective airfield lighting. . .

For more information, visit media clippings on Carmanah.com.

[meinolf67]

Solar-powered Roadway Flasher Features ENCOM Wireless Control Technology

Industry proven to operate reliably in some of the world's harshest climates, Carmanah's solar flashing beacon paired with ENCOM wireless control technology offers an unbeatable alternative for intelligent transportation systems.
by Staff Writers
Victoria, Canada (SPX) Jan 19, 2008
Carmanah Technologies has introduced a wireless solar-powered flashing beacon suitable for a range of ITS (intelligent traffic systems) roadway applications.

The R838 wireless ITS solar flasher incorporates all components - including solar modules, LEDs (light emitting diodes), and wireless activation technology - within a compact and durable stand-alone device.

Thanks to a partnership between Carmanah and ENCOM Wireless Data Solutions Inc., the R838 wireless ITS solar flasher is equipped with industry-proven ENCOM communications technology for versatile, on-demand remote activation.

Using the ENCOM handheld controller, multiple beacons can be activated from up to 500 feet away with the push of a button.

As a wireless, stand-alone warning flasher, the R838 offers a versatile and cost-effective way for emergency services and traffic agencies to provide advance warning of road conditions ahead, such as road construction (beyond highway on or off-ramps), emergency-vehicle crossings along fire station routes, approaches to weigh scales and more.

Operating independently of the electric grid, the Carmanah R838 wireless ITS solar flasher provides a reliable signal alternative suitable for remote locations, or anywhere grid access is not readily available.

With no need for trenching, cabling or wiring, this stand-alone device installs quickly and easily onto new or existing signposts for fast, economical installations and minimal disruption to traffic.

Optionally, each R838 unit can be programmed to specify how long to flash before shutting off automatically.

Two-way communications provide visual LED confirmation that one or more signals (up to eight) are currently active at the remote site.

Industry proven to operate reliably in some of the world's harshest climates, Carmanah's solar flashing beacon paired with ENCOM wireless control technology offers an unbeatable alternative for intelligent transportation systems.

[meinolf67]

Carmanah Divests of Road-Signs Inventory and Related Obligations to Focus on Strategic Solar Technology Markets


VICTORIA, BRITISH COLUMBIA, CANADA (February 10, 2009) Carmanah Technologies Corporation (TSX:CMH) has signed a definitive agreement with Temple Inc. of Decatur, Alabama, whereby Temple has purchased the inventories and other assets of Carmanah's illuminated road signs business.

According to the agreement, Temple will purchase Carmanah's road signs business including product inventory, associated marketing material, and customer and vendor lists. To ensure an efficient transfer of processes and materials to Temple Inc., Carmanah will assist with the manufacturing and sales-support functions throughout the 90-day transition period. According to Carmanah CEO Ted Lattimore, this agreement underscores Carmanah's continued focus on its strategic solar power and solar LED lighting markets.

"While the road-signs business represents a unique and significant opportunity, this divestiture will enable Carmanah to focus on its core strengths, while ensuring that this innovative technology can continue to fulfill its potential as a bright and effective roadway enhancement," said Carmanah CEO Ted Lattimore. As an LED (light emitting diode) alternative to traditional street and traffic signs, Carmanah's innovative edge-lit design combines reduced installation and maintenance costs with improved visibility, reliability, durability and energy efficiency over conventional fluorescent signage.

"We're pleased to extend this opportunity to Temple," said Lattimore. "As one of Carmanah's top distributors, Temple has consistently demonstrated its industry knowledge, technical expertise, and commitment to customer satisfaction. In this new capacity, Temple can continue to provide illuminated roadway signs to Carmanah customers and distributors, while further developing the business to reach new customers," said Lattimore. Carmanah edge-lit signs are currently in use within every province and state across North America.

"Having had the opportunity to work with Carmanah's edge-lit roadway signs for a few years now, we've been consistently impressed with the durability and effectiveness of this product," said Blake Temple, CEO of Temple Inc. "It's bright, clear and easy to see -- even from a distance or in low-visibility conditions. We've had a great response from our customers on this product, so we're very happy to add LED street and traffic signs to the Temple product line."

For more information, visit Carmanah at carmanah.com or Temple, Inc. at temple-inc.com.

[meinolf67]

Carmanah Partners with Shine Micro to Combine
Solar-Powered Marine Lanterns with AIS Technology


VICTORIA, BRITISH COLUMBIA, CANADA (February 11, 2009) - Solar technology provider Carmanah Technologies Corporation (TSX: CMH) has partnered with Shine Micro Inc. to add an automatic identification system (AIS) capability to its line of stand-alone solar-powered LED (light emitting diode) marine lanterns.

Widely used by ships and vessel traffic services (VTS) to identify and locate vessels, AIS technology enables ships to automatically exchange a range of navigational data including position, course, speed and proximity to other nearby ships, VTS stations, and AIS-equipped navigational buoys. According to Ted Lattimore, CEO, Carmanah Technologies, this partnership presents a valuable opportunity for both businesses and their customers.

"As a manufacturer of solar-powered marine lanterns, Carmanah is well positioned to incorporate Shine Micro's AIS capability as part of an enhanced solar-powered solution," said Lattimore. "An integrated solar-LED lantern offers many benefits -- it's compact, reliable, low maintenance, and built to endure some of the most challenging environments on Earth -- there's no reason why we can't extend these benefits to accommodate Shine Micro's powerful AIS technology as well," added Lattimore. "We look forward to working with Shine Micro to develop some exciting new technology for the marine industry -- something to help our customers increase safety and security more efficiently and affordably than ever before."

"It has always been of paramount importance at Shine Micro to produce rugged, high performance AIS equipment with the lowest power consumption in the industry," said Mark Johnson, President, Shine Micro, Inc. "This makes the integration with Carmanah's solar LED light technology an excellent fit."

Carmanah solar LED marine lanterns provide a reliable lighting solution for coast guards, ports and harbour authorities around the world, including New York Harbor, the Port of London, the Suez Canal and Sydney Harbour. For more information, visit Carmanah at carmanah.com or Shine Micro at shinemicro.com.

[R-BgO]

Carmanah Introduces Solar LED Lighting for Streets and Parking Lots

VICTORIA, BRITISH COLUMBIA, CANADA (March 04, 2009) - Carmanah Technologies Corporation (TSX:CMH) today announced its most powerful solar-powered LED area light to date: the EverGEN™ 1500 lighting system. Designed for street and parking lot lighting applications, the EverGEN 1500 combines the performance of an AC-powered area light with the versatility of an off-grid solar-powered lighting system. Providing up to 6,800 lumens of delivered light output, the EverGEN 1500 offers unparalleled performance for a solar-powered LED light of its size.
EverGEN 1500
Using a standard pole-mounted design, the EverGEN 1500 can support up to two LED lighting fixtures to provide a reliable source of bright, uniform light wherever it's needed, without trenching, cabling or grid access. Featuring the industry-leading LEDway™ and THE EDGE™ LED lighting fixtures by BetaLED™, the new EverGEN 1500 provides superior light output and performance, in compliance with IESNA (Illuminating Engineering Society of North America) standards. By directing light only where needed, the EverGEN 1500 provides efficient "dark-sky" friendly illumination for streets, parking lots and more.

[R-BgO]

Lazarus?:


Carmanah Announces Record Operating Performance Prior to Write-Down of Goodwill Due to Current Market Conditions


VICTORIA, BRITISH COLUMBIA, CANADA (March 10, 2009) - Carmanah Technologies Corporation (TSX: CMH) today posted 2008 revenues of $60.6 million including a 40% increase from strategic businesses, along with a strong operating performance prior to a non-cash write down of goodwill due to market conditions.

2008 Highlights

*
Sales: $60.6 million for 2008, up 2% from $59.3 million in 2007

- Strategic sales of $34.1 million for 2008, up 40% from $24.3 million in 2007 (primarily from solar LED lighting)

- Tactical sales of $26.5 million for 2008, down 24% from $35.0 million in 2007 (due to the 2008 exit of transit & distribution, and late 2007 exit of home power tactical markets)

*
Gross margin: 34.3% for 2008, up from 26.3% in 2007
*
Goodwill and intangible impairment: $10.7 million for 2008.This impairment is non-cash and does not affect liquidity, cash flows from operating activities or impact future operations.
*
Net income: $1.3 million (excluding the impact of the goodwill and intangible impairment charges) for 2008, compared to a net loss of ($6.9) million in 2007
*
Adjusted EBITDA: $4.7 million for 2008, compared to ($7.6) million in 2007
*
Positive cash flow from operations: $4.0 million for 2008, compared to $2.0 million in 2007
*
Cash balance: $7.9 million as at December 31, 2008, up from $4.1 million at the end of 2007
*
Nil debt: Continued debt-free operation

Fourth Quarter Summary

*
Sales: $15.8 million for Q4 2008, up 21% from $13.1 million in 2007

- Strategic sales of $12.0 million for 2008, up 96% from $6.1 million in 2007 (primarily from solar LED lighting)

- Tactical sales of $3.8 million for 2008, down 46% from $7.0 million in 2007 (due to the 2008 exit of transit & distribution, and late 2007 exit of home power tactical markets)

*
Gross margin: 33.8% for Q4 2008, up from 18.7% in 2007
*
Net income: $0.8 million (excluding the impact of the goodwill and intangible impairment charge) for Q4 2008, compared to a net loss of ($2.7) million in 2007
*
Adjusted EBITDA: $2.2 million for Q4 2008, compared to ($2.7) million in 2007
*
Positive cash flow from operations: $2.2 million for Q4 2008, compared to $2.1 million in 2007

Summary of Results

Throughout 2008, Carmanah reinforced its strategic focus, controlled costs, and increased its investment in relevant R&D to foster a stronger and more resilient business, said Ted Lattimore, Carmanah CEO. "We realized that some significant changes would be required to return the company to a more profitable footing; in 2008, we implemented those changes, exiting businesses that weren't contributing, freeing up resources for those that were, outsourcing manufacturing, and streamlining processes. We secured strategic partnerships, increased our commitment to product research and development, and strengthened our worldwide distributor network. In my opinion, we are now in a very good position. We know where we're going, and we have the technology and lean infrastructure to get us there," said Lattimore. "We're also fortunate in that our strongest products fill a vital need within some of the world's most resilient markets. Even during a recession, security and safety remain paramount - industries require reliable and affordable lights and power, and Carmanah remains a trusted supplier to some of the world's largest industrial customers," added Lattimore. "With solar technology more attractive than ever, our technology is fast approaching the tipping point between industry innovation and widespread acceptance; in a world turning to solar power and solar-LED lighting, Carmanah stands out as a very bright light," said Lattimore.

The company's conservative financial approach combined with a focused management style has helped set the business on a firm foundation for future growth, according to Roland Sartorius, Carmanah CFO. "Our net cash balance has grown from a low of negative $2 million in 2007 to nearly $8 million in the bank (and no debt) at the end of 2008. The fourth quarter of 2008 also marks our fourth straight quarter of positive Adjusted EBITDA and cash flow results in a row," said Sartorius. "Our strategic businesses, mainly driven by solar LED lighting, have grown by 40% this year. Although current market conditions have necessitated the write-down of goodwill. These non-cash charges do not impact current or future operations, but solidify our balance sheet even further. Overall I'd say we're in great shape for the year ahead."

Balance Sheet Highlights

Cash increased to $7.9 million as at December 31, 2008 from $4.1 million as at December 31, 2007 as a result of the Company's focus on working capital management and generating cash flow from operations.

The main change in the Balance Sheet from December 31, 2007 to December 31, 2008, resulted in a $10.7 million write-down of Goodwill and Intangible Assets. This resulted in lower total asset and shareholder's equity balances.

In April 2008, Carmanah entered into a new three-year $10 million committed revolving credit facility with the Bank of Montreal. This facility formally replaced the agreement held with the Royal Bank of Canada. The amount available is subject to certain covenants calculated on a quarterly basis and is secured by general security agreements. At December 31, 2008, the Company had not drawn on these facilities.

Overview of Operations

Carmanah designs, manufactures and distributes a range of energy efficient and renewable-energy technology. In 2008, the company was restructured around two business segments:

*
Strategic: includes the primary business units of LED lights and beacons and solar power systems for industrial and grid-tie applications. These units represent the company's main focus over the long term.
*
Tactical: includes business units such as energy-efficient LED edge-lit signage and solar component distribution. These units are generally stand-alone growth opportunities.

This optimized structure reflects the Company's emphasis on developing key revenue-producing activities, while accommodating additional complementary profitable opportunities within the company's three technology groups: solar-powered LED lighting, solar power systems and LED-illuminated signage.

*
The Solar LED Lighting Group provides a variety of energy-efficient LED lights and signals for marine, aviation, transit, roadway and industrial worksite applications, as well as an award-winning line of area lights for general illumination introduced in 2008.
*
The Solar Power Systems Group offers a wide range of solar-electric power generators for industrial, residential and recreational power applications.
*
The LED Sign Group designs and manufactures energy-efficient LED edge-lit signs for corporate identity, point of purchase and architectural applications.

At the end of June 2008, based on the results of our first quarter and market trends in both of our strategic and tactical segments, we announced a decision to further refine and accelerate our focus on our strategic direction. As a result, four major restructuring initiatives were announced, effective June 25th, 2008:

*
Outsourcing the manufacturing for our core products to Flextronics Inc., a worldwide electronics manufacturing service provider. Offering unlimited access to assembly and distribution points around the world, this partnership is expected to help control costs and maximize the efficiency of our supply chain, while providing a flexible infrastructure for scalable growth. As a result of the outsourcing, we closed our main manufacturing facility in Victoria, British Columbia.
*
Exiting of certain "tactical" business lines. As our solar component and solar-powered transit shelter lighting kits businesses were faced with increased commoditization and pricing pressures, we decided to further consolidate our operations and close our US solar component distribution business and warehouse operations. We closed our Santa Cruz facility during October 2008 and our Calgary, Alberta office and warehouse during November 2008. Administrative functions from the California and Alberta locations were moved to our headquarters in Victoria, BC.
*
Restructuring our sales model - To increase the efficiency of our sales organization and improve customer service, we restructured our global sales force from a product or market vertical format to a regional geographic model.
*
Simplifying our business processes and reducing our overhead and administrative costs - With the aim of increasing our operational efficiency and effectiveness, as well as further reducing our operating costs, we streamlined our organizational structure, reduced staff across various departments including the executive team, operations, marketing, and general and administrative departments.

In the fourth quarter of 2008, we highlighted the need to increase our investment into new generations of energy management building blocks that can be leveraged by our solar lighting and power systems products. In December, 2008, we opened a "Center of Excellence" energy management engineering office.

Carmanah maintains a global headquarters in Victoria, British Columbia, Canada, with manufacturing and distribution services outsourced to manufacturing services provider Flextronics International Ltd.

Results of Operations

Sales
Carmanah's sales for the year ended December 31, 2008 were $60.6 million for 2008, up from $59.3 million in 2007. Sales for the fourth quarter of 2008 were $15.8 million; $2.7 million higher than the same period in 2007. A summary of revenues from each of the Strategic and Tactical business segments follows:


Sales Summary


Three Months Ended Dec 31


Year Ended Dec 31

($ thousands)


2008


2007


2008


2007

Strategic













- Solar LED Lights


10,149


5,254


30,149


19,483

- Solar Power


1,905


883


3,961


4,839




12,054


6,137


34,110


24,322

Tactical













- Distribution


1,876


5,623


18,170


28,563

- Signage


1,889


1,326


8,337


6,404




3,765


6,949


26,507


34,967

Total


15,819


13,086


60,617


59,289


- Strategic Businesses: Sales were $34.1 million, up $9.8 million from the same period of 2007. Solar LED sales provided strong growth during 2008, with solar marine, aviation and obstruction beacons leading the way. This growth was offset by lower sales in Solar Power Systems, primarily due to some delayed shipments in 2008 and the fact that a significant grid tie project in Prince Edward Island was completed in the second six months of 2007. There were no such comparable large-scale projects in the same period of 2008.

- Tactical Businesses: Sales were $26.5 million, down $8.5 million from the same period of 2007. Signage business sales increased by $1.9 million due to a large order from a major US lottery customer. This increase was offset by lower sales within the distribution businesses as the Company starts to wind down its distribution warehouses in Calgary and Santa Cruz. Also, the prior year had included approximately $4.2 million of sales into the home power market, a market that Carmanah chose to exit due to the lower margins and increasing competition.


Gross Margin

Carmanah offers product solutions to a variety of market sectors that carry different margins; as a result, gross margin can be significantly impacted by the sales mix. Overall gross margin for 2008 was $20.8 million, up from $15.6 million in the same period of 2007. As a percentage, overall margins increased from 26.3% in 2007 to 34.3% in 2008. This increase was primarily due to (1) a continued focus on lean manufacturing and supply chain management, and (2) increased sales of higher margin solar LED products, and decreased sales of lower margin home power and transit products which were exited at the end of 2007. In addition, there were significant inventory write downs associated with distribution inventory and foreign exchange losses that occurred in the second quarter of 2007 that were not repeated in 2008.

* Strategic Businesses: The gross margin increased by $5.8 million as a result of a larger percentage of sales from solar LED lights compared to the same period in 2007. Solar LED lights normally generate a higher gross margin compared to solar power systems.
* Tactical Businesses: The gross margin decreased by $0.6 million, although on a percentage basis gross margin was up 4.2% from prior year due to a greater percentage contribution from the signage business and initiation of price increases where possible.

Operating Expenses

Operating expenses in 2008, excluding restructuring and amortization totaled $18.2 million, $3.8 million or 17.1% lower than $22.0 million incurred in 2007. As a percentage of sales, our operating costs excluding the restructuring and amortization charges have decreased by 7.1% over the same period in 2007.

*
Sales and marketing expenses were $2.2 million lower than the same period in 2007. This was primarily due to (a) lower sales and marketing salaries resulting from the restructuring, (b) lower commissions and (c) general cost reduction as we continue to apply a more focused approach to general corporate marketing initiatives, tradeshow and samples and shipping costs. As a percentage of sales, sales and marketing expenditures fell to 11.2% in 2008 from 15.2% in 2007.
*
Research, development, and engineering expenses were $2.2 million net of SR&ED investment tax credits and a government grant, down $0.6 million from $2.8 million during the same period of 2007. Actual 2008 gross expenditures were $3.6 million, up from $3.4 million from the same period in 2007. As a percentage of sales, our net research, development, and engineering expenses decreased to 3.6% from 4.7% in the same period in 2007. The net decrease is due to the recognition of a $0.4 million government grant and the recognition of additional SR&ED credits previously unrecognized. These were offset by higher engineering expenditures which do not qualify for the SR&ED tax credit.
*
General and administrative expenses declined to $9.2 million from $10.1 million in the same period of 2007. This decrease is primarily due to lower salaries and benefits resulting from the restructuring as well as overall tighter controls over discretionary spending. As a percentage of sales, general and administrative costs decreased to 15.2% in 2008 from 17.1% in 2007.
*
Restructuring charge of $1.6 million is the result of several restructuring initiatives we announced, including outsourcing our manufacturing, exiting of our tactical distribution businesses, and simplifying and reducing the cost of our organizational structure. The restructuring charge is comprised of employee severances and terminations, and inventory write-downs. We expect that these initiatives will result in total restructuring charges of approximately $1.9 million. We expect the remaining $0.3 million will be charged to earnings over the first quarter of 2009. The timing of these charges will depend on management actions and applicable guidelines under Generally Accepted Accounting Principles ("GAAP").
*
Amortization expense was $1.4 million, which is $0.2 million higher than the same period in 2007. This was primarily due to changes made to the estimated useful lives of the underlying assets as a result of the recent corporate restructuring.

Other Expenses

Non-operating costs totaled $8.7 million in 2008 versus $3.3 million in 2007. This increase is primarily due to:

*
In the fourth quarter, we conducted our annual goodwill and intangibles asset impairment tests. We compared the fair value of the reporting units, determined on a discounted after-tax cash-flow basis, to their carrying value. As goodwill impairment test indicated that the carrying value exceeded their fair value, thus an impairment exists, and due to the recent fluctuations in the market and the uncertainties arising from overall economic conditions, we recorded a $10.1 million impairment to and write-off of goodwill. The write off of goodwill related to the remaining booked goodwill stemming from our 2003 acquisition of AVVA Technologies Inc. (now our LED signs group) and our 2005 acquisition of Soltek Powersource Ltd. (now our power systems business). In 2007, we recorded a $2.0 million write down of goodwill as a result of performing the same annual impairment analysis. The 2007 impairment of goodwill related to our 2003 acquisition of AVVA Technologies Inc. The goodwill and intangible impairment charges are non-cash in nature and do not affect our liquidity, cash flows from operating activities or debt covenants and will not impact future operations. At the end of December 2007, we recorded a $0.3 million gain on the sale of certain assets related to our residential home power business within the solar power systems group. The assets we disposed of primarily related to inventory, customer lists, and equipment.
*
During 2008, we recorded a foreign exchange gain of $2.0 million compared to a loss of $1.5 million in 2007. These foreign exchange gains and losses arose on the translation of the foreign-denominated assets and liabilities. We minimize our exposure to foreign exchange fluctuations by matching US-dollar assets / revenues with US-dollar liabilities / expenses and where appropriate, by entering into forward contracts to buy or sell US dollars in exchange for Canadian dollars. The gain in 2008 and loss in 2007 was primarily due to the volatility of the US dollar relative to the Canadian dollar over the past two years. A significant portion of our sales and purchases are denominated in the US dollar. As at December 31, 2008, we had entered into a series of foreign currency forward contracts (CDN/USD) that provided for the purchase of $2.5 million at a rate of $1.148. The fair value of the forward contracts, estimated using current market rates as at December 31, 2008, is $0.2 million.

Income Tax
Income tax expense (recovery) for the year was $0.4 million compared with ($1.9) million for 2007. This amount consisted of current and future tax expense (recovery) of ($1) thousand (2007 - $0.3 million recovery) and $0.4 million (2007 - $1.6 million recovery), respectively.

Our effective tax recovery rate is (4.7%), which varies from the statutory rate of 31.0%. The primary difference is due to non-deductible stock compensation ($0.8 million), the write down of goodwill ($10.1 million), as well as revisions to the estimated tax rates utilized in the recovery.


Non-GAAP Financial Measures

For the quarter and year ended December 31, 2008, as well as the respective comparative periods in 2007, we are disclosing adjusted EBITDA, a non-GAAP financial measure, as a supplementary indicator of operating performance. We define adjusted EBITDA as net income before, interest, income taxes, amortization, restructuring charges, and goodwill and intangible impairments. We are presenting the non-GAAP financial measure in our filings because we use it internally to make strategic decisions, forecast future results and to evaluate our performance and because we believe that our current and potential investors and many analysts use the measure to assess our current and future operating results and to make investment decisions. It is a non-GAAP measure and it is not intended as a substitute for GAAP measures.



Adjusted EBITA Reconciliation


Three Months Ended Dec. 31


Year Ended Dec. 31

($ thousands)


2008


2007


20 2008


2007

Net loss


(9,981)


(4,637)


(9,452)


(8,915)

Add/ (deduct):













- Interest


(7)


(53)


(86)


63

- Income taxes


420


(269)


425


(1,922)

- Amortization


473


287


1,497


1,151

- Goodwill and intangible impairment


10,732


2,000


10,732


2,000

- Restructuring charges


516


-


1,552


-

Adjusted EBITA


2,153


(2,672)


4,668


(7,623)


Complete set of Financial Statements and Management Discussion & Analysis
A complete set of 2008 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.


###

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Toronto Parking Authority Goes Green with Grid-Tie Solar Power System

VICTORIA, BRITISH COLUMBIA, CANADA (March 12, 2009) - As part of an ongoing renewable energy initiative, the Toronto Parking Authority (TPA) in Ontario, Canada is installing a solar powered grid-tie system from Carmanah Technologies Corporation (TSX: CMH).

Valued at approximately $248,000, the wall mounted grid-tie system will generate electricity from the sun's energy to help power the TPA facility, reducing the facility's reliance on the Toronto Hydro distribution system while helping to control energy expenses. To help offset the capital expenditure of the upgrade, the integrated solar power system will also generate revenue through a contract with the Ontario Power Authority's Renewable Energy Standard Offer Program (RESOP).

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 a 5 kW system on a new Canadian Tire store in Welland, Ontario, and a 108 kW system on the new Jean Canfield Government Building in Prince Edward Island - named Canada's 2008 Solar Project of the Year by the Canadian Solar Industries Association (CanSIA).

For more information on this or other solar grid-tie applications within Canada, contact Richard Wayte at [e-mail], or visit Carmanah at www.solarforbuildings.com.

[kaktus7]

Ich glaube, die werden in Europa noch vieloe Aufträge bekommen.

Warum?

Glühbirnenverbot.

Gilt auch für Flughäfen, EInkaufszentren etc

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City of Toronto Upgrades Parking Facility with Grid-tied Solar Power System

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).

For more information on this or other solar grid-tie applications within Canada, contact Richard Wayte at [e-mail], or visit Carmanah at www.solarforbuildings.com.

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April 2009

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah.



Recent Highlights:

*
Toronto Parking Authority Goes Green with Grid-Tie Solar Power System
*
Carmanah Announces Record Operating Performance Prior to Write-Down of Goodwill Due to Current Market Conditions
*
Carmanah Introduces Solar LED Lighting for Streets and Parking Lots
*
Carmanah Introduces Compact Solar-Charging Kit for RVs and Boats
*
"Bay Street: Patience needed to harvest gold from green" Reuters

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).

News Releases


Toronto Parking Authority Goes Green with Grid-Tie Solar Power System
(March 12, 2009) - As part of an ongoing renewable energy initiative, the Toronto Parking Authority (TPA) in Ontario, Canada is installing a solar powered grid-tie system from Carmanah. Valued at approximately $248,000, the wall mounted grid-tie system will generate electricity from the sun's energy to help power the TPA facility, reducing the facility's reliance on the Toronto Hydro distribution system while helping to control energy expenses.

Carmanah Announces Record Operating Performance Prior to Write-Down of Goodwill Due to Current Market Conditions
(March 10, 2009) - Carmanah posted 2008 revenues of $60.6 million including a 40% increase from strategic businesses, along with a strong operating performance prior to a non-cash write down of goodwill due to market conditions:

* Sales: $60.6 million for 2008, up 2% from $59.3 million in 2007
* Strategic sales of $34.1 million for 2008, up 40% from $24.3 million in 2007 (primarily from solar LED lighting)
* Tactical sales of $26.5 million for 2008, down 24% from $35.0 million in 2007 (due to the 2008 exit of transit & distribution, and late 2007 exit of home power tactical markets)
* Gross margin: 34.3% for 2008, up from 26.3% in 2007
* Goodwill and intangible impairment: $10.7 million for 2008.This impairment is non-cash and does not affect liquidity, cash flows from operating activities or impact future operations.
* Net income: $1.3 million (excluding the impact of the goodwill and intangible impairment charges) for 2008, compared to a net loss of ($6.9) million in 2007
* Adjusted EBITDA: $4.7 million for 2008, compared to ($7.6) million in 2007
* Positive cash flow from operations: $4.0 million for 2008, compared to $2.0 million in 2007
* Cash balance: $7.9 million as at December 31, 2008, up from $4.1 million at the end of 2007
* Nil debt: Continued debt-free operation

EverGEN 1500Carmanah Introduces Solar LED Lighting for Streets and Parking Lots
(March 4, 2009) - Carmanah today announced its most powerful solar-powered LED area light to date: the EverGEN™ 1500 lighting system. Designed for street and parking lot lighting applications, the EverGEN 1500 combines the performance of an AC-powered area light with the versatility of an off-grid solar-powered lighting system. Providing up to 6,800 lumens of delivered light output, the EverGEN 1500 offers unparalleled performance for a solar-powered LED light of its size.

Carmanah Introduces Compact Solar-Charging Kit for RVs and Boats
(March 02, 2009) Carmanah has introduced a new benchmark in compact and efficient solar-charging technology: the Go Power!™ GP-RV-95 solar-charging kit. Convenient and reliable, the GP-RV-95 kit provides 95 watts (5.5 amps) of electricity from a compact solar module, making it ideal for recreational vehicles, boats, or other mobile applications where 12-volt power is required.

For more information, visit news releases on Carmanah.com.
Media Coverage

"Bay Street: Patience needed to harvest gold from green" Reuters
(March 15, 2009) It will take more than government incentive plans and bargain prices for stocks in Canada's green energy sector to flourish, and investors will need patience if they are to hit pay dirt. While the long-term outlook for companies working with solar, wind and water power is promising, the business now is being buffeted by the recession, a credit crunch and tumbling fuel prices. What's more, critics say a federal stimulus plan is too stingy and fails to renew a wildly popular program to spark clean energy production. For a sector heavy with cash-hungry junior and mid-tier companies, crumbling stock valuations serve a further blow, cutting off a source of project funding."All these beaten-up renewable, publicly traded companies are amazing value right now. That's not to say that they still can't go down further, because this market is now driven on psychology, not cash flow fundamentals," said Jacob & Co power equity analyst John McIlveen. "But I think power, especially renewables, will always skate back onside because, after all, you've got 20-year take-or-pay contracts. . ."

"Solar panels installed at Oak Bay High School. . . " Oak Bay News
(March 15, 2009) Students at Oak Bay High have turned textbook learning into reality. Emerging from a Grade 9 science project on alternative energy forms, a group of students launched a campaign one year ago to fundraise money for solar panels at the school. They have since reached their $16,000 target and this week 10 solar panels are being mounted across the east building roof. Oak Bay High partnered with Victoria-based company Carmanah Technologies to develop the design. The panels will produce 2.08 kW of energy, which will offset the electricity needed to power two physics labs. . .

"Carmanah posts $1.3-million profit. . ." Victoria Times-Colonist
(March 11, 2009) Calling itself a lean company with plenty of cash, no debt and a "bright light" going forward, Carmanah Technologies Corp. has reported a $1.3-million profit on revenues of $60.6 million for 2008. The solar marine and aviation light producer shed non-core business units, trimmed staff and outsourced its manufacturing and is now on a profitable footing, chief executive Ted Lattimore said yesterday. "We know where we're going and have the technology and lean infrastructure to get us there," Lattimore said in a statement. . .

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Trinidad International Airport Upgrades Runways
with Carmanah Solar-LED Airfield Lights

VICTORIA, BRITISH COLUMBIA, CANADA (May 6, 2009) Trinidad's Piarco International Airport has upgraded its airfield lighting with solar-powered LED airfield lights from Victoria BC-based Carmanah Technologies (TSX: CMH). Valued at approximately $300,000, the order includes Carmanah A704-5 runway edge lights, approach lights and threshold lights, as well as A702 taxiway lights, mounting hardware and wireless handheld radio remote-control equipment. Located in Piarco, about 25 km east of the capital city, Port of Spain, Piarco International Airport is Trinidad's largest and most modern airport in the Caribbean region, facilitating domestic and international traffic, and accommodating nearly three million travelers each year.

According to Simon Proctor, Carmanah Regional Sales Manager for Latin America and the Caribbean, Piarco International's renewable-energy upgrade ensured a bright reception for the region's high-profile visitors as the Republic of Trinidad and Tobago welcomed the Western Hemisphere's Heads of State and Government for the Fifth Summit of the Americas conference in April. "We're very proud to have been chosen for this significant application, and look forward to working closely with Piarco International Airport on future enhancements alongside our regional distributors, Active General Traders," said Proctor.

As an alternative to wired runways lights, Carmanah solar-LED lights install quickly and operate reliably, with no scheduled maintenance, in even the most challenging environmental conditions. With no bulbs to burn out, and each light powered independently of the grid, a solar-powered lighting system offers a dependable year-round solution; in windstorms, flooding, local power outages or regional blackouts, solar-powered lights can stay lit even when other lights go out.

As one of the world's largest suppliers of self-contained solar-powered airfield lights, Carmanah offers lighting products for a range of airfield applications, including permanent primary lighting, temporary lighting during airfield construction or upgrades, emergency backup lighting, as well as expedited portable lighting during emergency or humanitarian-aid operations.

Carmanah solar LED aviation lights are available from Carmanah Technologies Corporation. For more information, visit carmanah.com.

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Carmanah Reports Q1 2009 Results Support Strategic Focus

VICTORIA, BRITISH COLUMBIA, CANADA (May 12, 2009) Carmanah Technologies Corporation (TSX: CMH) today announces its first quarter financial results for the three-month period ending March 2009. Sales for Q1 2009 were $10.4 million, down approximately $4.7 million from the same period last year, due mainly to exiting/divesting several tactical business units during this period. Despite challenging global economic conditions, strategic sales for Q1 2009 ended at approximately the same levels as in the same period of 2008, showcasing the resilient nature of Carmanah's strategic markets, and the ongoing demand for its core renewable-energy technology products.

Highlights for the Quarter

*
Sales: $10.4 million, down from $15.1 million for the same period in 2008
*
Gross margin: 36.1%, up from 33.6% in 2008
*
Operating costs: $5.3 million, up from $5.0 in 2008
*
Net (loss)/income: $(0.3) million, down from $0.1 million in 2008
*
Adjusted EBITDA: Adjusted EBITDA of $0.3 million, down from $0.7 million in 2008
*
Cash flow from operations: $1.3 million, up from $0.1 million in 2008
*
Cash balance: $9.2 million as at March 31, 2009, up from $7.9 million in 2008
*
Nil debt: Continued debt-free operation


Summary of Results
While reflecting the challenges facing the global economy, the first quarter of 2009 highlights a reassuring continuity across Carmanah's primary markets, and reaffirms the company's strategic direction, according to Ted Lattimore, Carmanah CEO. "During this quarter, we've made great strides towards our goals, divesting of our road-signs obligations to better focus on our strategic business opportunities, signing a strategic partnership with Shine Micro, and introducing an exciting new benchmark in general illumination - the powerful EverGEN™ 1500 street-and-parking-lot light," said Lattimore. "Our transition to outsourced manufacturing is already delivering greater flexibility and efficiency, our worldwide distributor network is growing, and our strategic markets are as strong as ever. Even during a recession, security and safety remain paramount - industries require reliable and affordable lights and power, and as a trusted supplier with a long history in delivering solar LED technology, we're well positioned to continue filling this need."

According to Roland Sartorius, Carmanah CFO, the company's conservative financial approach and consistent focus on a strong balance sheet continues to guide the company through the uncertainty in today's macroeconomic environment. "As a result of strong working capital management and positive cash flow from operations, our cash balance has grown to over $9 million in the bank, with no debt," said Sartorius. "Q1 2009 represents our fifth straight quarter of positive Adjusted EBITDA and cash flow results, which to me, seems to be a pretty strong indicator that we're heading in the right direction."

Sales
Sales for the first quarter of 2009 were $10.4 million, down approximately $4.7 million from 2008. This decline is primarily due to lower tactical sales during this period, caused by the closure and sale of Carmanah's lower margin distribution business/product lines.

Despite challenging global economic conditions, Carmanah's strategic sales during Q1 2009 were at approximately the same levels during this period than during Q1 2008, underscoring the resilient nature of Carmanah's strategic markets, and the ongoing demand for renewal energy technologies. A summary of revenues from each of the company's Strategic and Tactical business segments is displayed below:



Sales


For the three months ended March 31

($ thousands)


2009


2008


Change




$


Mix


$


Mix


$


%

Strategic



















Solar LED Lights


6,989


67%


7,086


47%


$(97)


(1)%

Solar Power Systems


743


7%


897


6%


$(154)


(17)%

Total Strategic


7,732


74%


7,983


53%


$(251)


(3)%





















Tactical



















Distribution


1,735


17%


5,764


38%


$(4,029)


(70)%

Signage


983


9%


1,401


9%


$(418)


(30)%

Total Tactical


2,718


26%


7,165


47%


$(4,447)


(62)%





















Total Revenue


10,450


100%


15,148


100%


$(4,698)


(31)%


Summary of EBITDA and Net Income

* Adjusted EBITDA for Q1 2009 was $0.3 million.
* Net loss for Q1 2009 was $(0.3) million.


Non-GAAP Measures
The company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is net income (loss) before interest, income taxes, amortization, and restructuring charge ("Adjusted EBITDA").



Adjusted EBITDA reconciliation


For the three months ended

($ thousands)


March 31, 2009


March 31, 2008

Net income (loss)


$ (298)


$ 83

Add (deduct):


-


-

- Interest


$ (14)


$ (29)

- Income taxes


(164)


$ 349

- Amortization


$ 212


$ 254

- Restructuring charge


$ 528


-

Adjusted EBITDA


$ 264


$ 657


Progress During the Quarter (including subsequent events)　
During this quarter, Carmanah made continued progress in refining and accelerating the company's focus on its strategic direction:

* Carmanah divested of its road-signs inventory and related obligations, signing a definitive agreement with a distributor to dispose its inventories and other assets of its illuminated road-signs business. A gain of $0.8 million was recognized on this sale. (February 10, 2009)
* Carmanah partnered with Shine Micro to combine solar-powered marine lanterns with AIS technology, providing the means to add an automatic identification system (AIS) capability to its line of stand-alone solar-powered LED (light emitting diode) marine lanterns. (Widely used by ships and vessel traffic services (VTS) to identify and locate vessels, AIS technology enables ships to automatically exchange a range of navigational data including position, course, speed and proximity to other nearby ships, VTS stations, and AIS-equipped navigational buoys.) (February 11, 2009)
* Carmanah Introduced solar LED lighting for streets and parking lots with the launch of its most powerful solar-powered LED area light to date: the EverGEN™ 1500 lighting system. Providing up to 6,800 lumens of delivered light output, the powerful EverGEN 1500 combines the performance of an AC-powered area light with the versatility of an off-grid solar-powered lighting system, offering unparalleled performance for a solar-powered LED light of its size (March 4, 2009)


Other highlights during this quarter included:

* Carmanah introduced a compact solar-charging kit for RVs and boats: the Go Power!™ GP-RV-95 solar-charging kit. The GP-RV-95 kit delivers 95 watts (5.5 amps) of electricity from a compact solar module, making it ideal for RVs, boats and other mobile applications. (March 2, 2009)
* Carmanah announced the Toronto Parking Authority is installing a Carmanah solar-powered grid-tie system valued at approximately $248,000 to help power the TPA facility, reduce the facility's reliance on the Toronto Hydro distribution system, and help to control energy expenses (March 12, 2009).


Complete set of Financial Statements and Management Discussion & Analysis
A complete set of Q1 2009 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.

###

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Rob Cruickshank appointed Carmanah Technologies' Chairman of the Board

VICTORIA, BRITISH COLUMBIA, CANADA (May 22, 2009) The Board of Directors of Carmanah Technologies Corporation (TSX: CMH) has appointed Rob Cruickshank as Chairman of the Board.

"Rob Cruickshank brings an impressive range of knowledge and experience to this role," said Dr. David Green, the founder of Carmanah Technologies who has served as Chairman for the last eight years. "Rob had a superb career at Telus, and he brings the large-company experience that Carmanah needs to reach the next level of maturity as a company. Having worked with Rob for the last year on the Carmanah Board, I have found him to be committed and determined. I feel I am leaving the position of Chairman in very capable hands and that Rob will complete the process of succession and renewal that our board commenced in 2007."

Though stepping down from the role of Chairman, Dave Green will retain a seat on the Board, so that the company he established more than a decade ago continues to benefit from his technical expertise and years of industry experience in the field of solar-LED technology.

Rob Cruickshank joined the Board in May 2008, having recently served as President of the British Columbia Technology Industries Association (BCTIA), a not-for-profit, member-funded organization representing the technology industry across the province. Prior to joining BCTIA, he had a long and successful career with TELUS/BCTEL serving in many executive roles including over four years as the President of BCTEL Mobility. For two years, Cruickshank was President of MDSI Mobile Data Solutions, a public company listed on the Toronto and NASDAQ exchanges.

In accepting the role of Chairman, Cruickshank expressed his gratitude to his fellow Board members and emphasized his commitment to the challenge ahead. "I look forward to working with Ted Lattimore and his executive team, David and each member of the Board in this new capacity," said Cruickshank.

For more information, visit www.carmanah.com.

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BC Housing Complex Upgrades with Grid Tie Solar Power
Solar Grid Tie Project to be Western Canada's Largest

VICTORIA, BRITISH COLUMBIA, CANADA (May 26, 2009) A social housing development in Surrey, British Columbia is getting a green energy upgrade with the addition of a grid-tie solar power system from Carmanah Technologies Corporation (CMH:TSX). As part of BC Housing's commitment to developing sustainable social housing, Greenbrook will be equipped with a grid-tie solar power system designed to provide 10 percent of the development's annual electricity requirements to assist with common area loads such as area lighting and air source heat pumps.

Valued at approximately $1.34 million in total, the photovoltaic system will be installed in stages by Carmanah Technologies under contract with Yellowridge Construction Ltd., with completion scheduled for mid 2010. With a combined capacity of approximately 139 kW, the site-wide renovation project represents Carmanah's largest grid-tie project to date, and Western Canada's largest solar grid-tie project.

Located in Surrey's Newton Town Centre, the Greenbrook complex includes 29 buildings with 127 town houses. The grid-tie system will connect to the electric utility through multiple net metering connection points within Greenbrook's common distribution electrical system.

In designing the photovoltaic system, Carmanah representatives combined a comprehensive site evaluation with best industry practices and practical implementation strategies to design a system that would meet the challenges of local shading issues, fixed orientation of structures and an annual energy target of 130 MWh. This solar power upgrade is one aspect of a site-wide building envelope replacement that addresses a range of other improvements such as drainage, electrical, landscaping and mechanical upgrades.

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US Coast Guard Stocks Up on Carmanah
Solar-LED Marine Lanterns for Hurricane Season
$600,000 Order to Help Ensure Emergency Preparedness

VICTORIA, BRITISH COLUMBIA, CANADA (June 02, 2009) The United States Coast Guard (USCG) has placed an order for hundreds of solar-LED marine lanterns from Carmanah Technologies (TSX: CMH). Valued at approximately $600,000, this latest shipment of 701-5 and 704-5 lanterns will replace older incandescent lanterns throughout the region, while providing an additional level of safety and security for marine traffic and Gulf Coast communities during the hurricane season.

Durable, reliable and easy to deploy on a moment's notice, Carmanah solar-powered lanterns are widely used by coast guards and port authorities around the world, both as permanent aids to navigation, and for emergency preparedness and disaster-response applications. After Hurricane Charley swept through Punta Gorda, Florida in 2004, Carmanah's solar-powered beacons were the only visible points of light on an otherwise blacked-out the river. When Hurricane Katrina struck New Orleans the following year, Carmanah diverted its entire inventory and production to help meet the immediate demand for stand-alone marine, railway and aviation lights throughout the region. Carmanah lights are ideal for emergency applications because they are solar-powered and fully self-contained. They can be installed anywhere in minutes, operate reliably for years without need of external electrical infrastructure, and are virtually indestructible.

According to Mat Regier, Carmanah sales channel manager for the Southeastern United States, this latest shipment of lights will be deployed as aids to navigation across 19 regions, including New Orleans, Louisiana; Galveston, Texas; Corpus Christi, Texas; and Mobile, Alabama, with a portion being stored at strategic locations for emergency response. "While providing reliable day-to-day service as bright and effective aids to navigation, this shipment of solar LED lanterns also offers a stand-alone lighting alternative that can be deployed wherever they're needed at a moment's notice," said Regier.

Carmanah solar LED marine lights are available from Carmanah Technologies. For more information, visit Carmanah at www.carmanah.com.

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June 2009

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah.



Recent Highlights:

*
US Coast Guard Stocks Up on Solar-LED Marine Lanterns for Hurricane Season
*
BC Housing Complex Upgrades with Grid Tie Solar Power
*
Rob Cruickshank appointed Carmanah Technologies' Chairman of the Board
*
Carmanah Reports Q1 2009 Results Support Strategic Focus
*
Trinidad International Airport Upgrades Runways with Solar-LED Airfield Lights
*
Carmanah Launches Solar-LED Streetlights at LIGHTFAIR

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide)

News Releases


US Coast Guard Stocks Up on Solar-LED Marine Lanterns for Hurricane Season
(June 02, 2009) The United States Coast Guard (USCG) has placed an order for hundreds of solar-LED marine lanterns from Carmanah Technologies (TSX: CMH). Valued at approximately $600,000, this latest shipment of 701-5 and 704-5 lanterns will replace older incandescent lanterns throughout the region, while providing an additional level of safety and security for marine traffic and Gulf Coast communities during the hurricane season. . .

BC Housing Complex Upgrades with Grid Tie Solar Power
(May 26, 2009) A social housing development in Surrey, BC, is getting a green energy upgrade with the addition of a grid-tie solar power system from Carmanah. As part of BC Housing's commitment to developing sustainable social housing, Greenbrook will be equipped with a grid-tie solar power system designed to provide 10 percent of the development's annual electricity requirements to assist with common area loads. Valued at approximately $1.34 million in total, the photovoltaic system will be installed in stages by Carmanah Technologies under contract with Yellowridge Construction Ltd., with completion scheduled for mid 2010. . .

Rob Cruickshank appointed Carmanah Technologies' Chairman of the Board
(May 22, 2009) The Board of Directors has appointed Rob Cruickshank as Chairman of the Board. "Rob Cruickshank brings an impressive range of knowledge and experience to this role," said Dr. David Green, the founder of Carmanah Technologies who has served as Chairman for the last eight years. . . "I feel I am leaving the position of Chairman in very capable hands and that Rob will complete the process of succession and renewal that our board commenced in 2007."

Carmanah Reports Q1 2009 Results Support Strategic Focus
(May 12, 2009) Carmanah announced its first quarter financial results for the three-month period ending March 2009. Sales for Q1 2009 were $10.4 million, down approximately $4.7 million from the same period last year, due mainly to exiting/divesting several tactical business units during this period. Despite challenging global economic conditions, strategic sales for Q1 2009 ended at approximately the same levels as in the same period of 2008, showcasing the resilient nature of Carmanah's strategic markets, and the ongoing demand for its core renewable-energy technology products. . .

Trinidad International Airport Upgrades Runways with Solar-LED Airfield Lights
(May 6, 2009) Trinidad's Piarco International Airport has upgraded its airfield lighting with solar-powered LED airfield lights from Carmanah Technologies. Valued at approximately $300,000, the order includes A704-5 runway edge lights, approach lights and threshold lights, as well as A702 taxiway lights, mounting hardware and wireless handheld radio remote-control equipment. Located in Piarco, about 25 km east of the capital city, Port of Spain, Piarco International Airport is Trinidad's largest and most modern airport in the Caribbean region, facilitating domestic and international traffic, and accommodating nearly three million travelers each year. . .

Carmanah Launches Solar-LED Streetlights at LIGHTFAIR
(May 05, 2009) Carmanah introduced its next generation of solar-powered LED lights at the LIGHTFAIR International tradeshow and conference in New York City. As part of a new "General Illumination" (GI) product line, the company featured a range of solar-powered lights for street and parking lot applications, including the powerful new EverGEN™ 1500, along with a preview of the company's sleek new EverGEN 1700-series design. . .

For more information, visit news releases on Carmanah.com.

Media Coverage


Media coverage this month included the following items:

# Reuters "Carmanah Launches Solar-LED Streetlights at LIGHTFAIR"
# Reuters "Carmanah CEO Sees Brighter Times for Solar Demand"
# Parking Network "Carmanah Launches Solar-LED Streetlights at LIGHTFAIR"
# LED Magazine "Carmanah Showcases Solar-LED Area Light at New York Lightfair 2009"
# LED Inside "Carmanah Introduced Solar-powered LED Streetlights at LightFair"
# Low Voltage Lights "Carmanah Unveils Solar-LED Streetlights at LightFair"
# Lighting World Interior Design Network "Carmanah Launches Solar-LED Streetlights at Lightfair"
# Canadian Consulting Engineer "Showing off at Exhibition Place"
# Compound Semiconductors "Trinidad International Airport Upgrades with Carmanah Lights"
# Times Colonist "Carmanah Technologies Gets New Chairman"
# Clean Tech Brief "Solar Firm Carmanah Technologies Gets New Chairman"
# Building Design & Construction "BC Housing Complex Upgrades with Grid-tie Solar Power"

For more information, visit media clippings on Carmanah.com.
Contact Carmanah


For more information, visit carmanah.com.
Comments or questions? Contact Carmanah:

Investor Relations

Roland Sartorius, CFO

direct: 1.250.412.8382

toll-free: 1.877.722.8877

[e-mail]
TSX: "CMH"

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Bahamas Airport Equips New Runway, Taxiway with Solar-LED Lights


VICTORIA, BRITISH COLUMBIA, CANADA (June 18, 2009) Marsh Harbour International Airport in Abaco, Bahamas is upgrading with solar-powered aviation lights from Carmanah Technologies (TSX: CMH). As the first phase of a facility-wide expansion and upgrade, the airport has constructed a new 6,100-foot asphalt-paved runway and parallel taxiway that will be equipped with Carmanah solar-powered A704-5 approach lights, A704-5 runway edge lights, and A601 taxiway lights. Valued at approximately USD$400,000, the solar-LED lighting system will provide safe and reliable airfield lighting for this fast-growing facility. Additional improvements planned for this ICAO 4C-class airfield include a new precision approach path indicator (PAPI), apron, terminal and air traffic control tower. Currently the Bahamas' third-busiest airport, Marsh Harbour International facilitates air traffic between Nassau and Florida, although the new expansion will enable the facility to accommodate a higher volume of larger regional and international flights to the island as well.

As an alternative to wired runway lights, Carmanah solar-LED lights install quickly and operate reliably, with no scheduled maintenance, in even the most challenging environmental conditions. With no bulbs to burn out, and each light powered independently of the grid, a solar-powered lighting system offers a dependable year-round solution; in windstorms, flooding, local power outages or regional blackouts, solar-powered lights can stay lit even when other lights go out. "We look forward to working with the team at Marsh Harbour International in their commitment to optimizing operations, increasing airlift capacity, and maximizing safety," said Simon Proctor, Regional Sales Manager for Latin America and the Caribbean. "We're proud to have been selected for this project, and remain committed to providing the very best in state-of-the-art airfield lighting technology."

As one of the world's largest suppliers of self-contained solar-powered airfield lights, Carmanah offers lighting products for a range of airfield applications, including permanent primary lighting, temporary lighting during airfield construction or upgrades, emergency backup lighting, as well as expedited portable lighting during emergency or humanitarian-aid operations. For more information, visit Carmanah at www.carmanah.com.

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US Coast Guard Stocks Up On Carmanah Solar-LED Marine Lanterns

After Hurricane Charley swept through Punta Gorda, Florida in 2004, Carmanah's solar-powered beacons were the only visible points of light on an otherwise blacked-out the river.
by Staff Writers
Victoria, Canada (SPX) Jun 19, 2009
The United States Coast Guard (USCG) has placed an order for hundreds of solar-LED marine lanterns from Carmanah Technologies. Valued at approximately $600,000, this latest shipment of 701-5 and 704-5 lanterns will replace older incandescent lanterns throughout the region, while providing an additional level of safety and security for marine traffic and Gulf Coast communities during the hurricane season.

Durable, reliable and easy to deploy on a moment's notice, Carmanah solar-powered lanterns are widely used by coast guards and port authorities around the world, both as permanent aids to navigation, and for emergency preparedness and disaster-response applications.

After Hurricane Charley swept through Punta Gorda, Florida in 2004, Carmanah's solar-powered beacons were the only visible points of light on an otherwise blacked-out the river.

When Hurricane Katrina struck New Orleans the following year, Carmanah diverted its entire inventory and production to help meet the immediate demand for stand-alone marine, railway and aviation lights throughout the region. Carmanah lights are ideal for emergency applications because they are solar-powered and fully self-contained.

They can be installed anywhere in minutes, operate reliably for years without need of external electrical infrastructure, and are virtually indestructible.

According to Mat Regier, Carmanah sales channel manager for the Southeastern United States, this latest shipment of lights will be deployed as aids to navigation across 19 regions, including New Orleans, Louisiana; Galveston, Texas; Corpus Christi, Texas; and Mobile, Alabama, with a portion being stored at strategic locations for emergency response.

"While providing reliable day-to-day service as bright and effective aids to navigation, this shipment of solar LED lanterns also offers a stand-alone lighting alternative that can be deployed wherever they're needed at a moment's notice," said Regier.

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Carmanah Closes $4 Million Order for LED Lottery Jackpot Signs


VICTORIA, BRITISH COLUMBIA, CANADA (June 23, 2009) Carmanah Technologies Corporation (TSX: CMH), a provider of solar-powered and energy efficient LED lighting, has received a USD $4 million order for LED-illuminated "triple jackpot" lottery signs. Designed to provide a bright and attractive promotional display for lottery retailers, each sign features an LED (light emitting diode) illuminated background, replaceable graphic faceplate, and three-digit LED displays to advertise jackpot values for three different games.

Jackpot data is sent wirelessly via a transceiver directly and securely to each sign from the lottery's existing online terminal. Up to five jackpots can be displayed per sign within a 100-foot area, and all signs on the statewide network are updated simultaneously. The replaceable graphic feature enables the lottery to change or rebrand jackpot games without replacing the entire sign.

According to Maxwell Goldstein, director of sales and marketing for Carmanah Signs, the high-visibility signs provide a bright and energy-efficient alternative to traditional options. "It is well understood in the lottery industry that jackpot awareness helps increase ticket sales," said Goldstein. "These signs update wirelessly right from the terminal without paging, satellite link or monthly fees. The jackpot amount displayed is always accurate. As jackpots grow, so do ticket sales," added Goldstein.

Wireless lottery jackpot signs are available from Carmanah Technologies. For more information on these and other LED lottery signs, visit www.lotterysigns.com, or contact Maxwell Goldstein at +1.416.322.2860 or [e-mail].

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Carmanah Receives $2.3 Million Order to Power
North Africa Telecom Project with Solar Technology

VICTORIA, BRITISH COLUMBIA, CANADA (June 25, 2009) Carmanah Technologies Corporation (TSX: CMH) has received a follow up order valued at approximately CAD $2.3 million from Lyon, France-based telecom provider TWIST to supply solar power systems for a telecommunications project in North Africa. The project, facilitated by Solergitech, Carmanah's authorized distributor in the region, will power a network of telecommunications towers with the company's stand-alone solar power systems. This order follows an initial $1 million order last September as a part of an ongoing project with a total estimated value of up to $4 million over the next three years.

For this communications application, Carmanah is powering each of the remote telecom towers with a stand-alone solar power source that includes photovoltaic modules, controllers and batteries - all optimized for maximum performance within the region's challenging geographic and environmental conditions. As a dependable alternative to traditional sources of electricity, each solar power system offers a convenient and cost-effective solution - free from grid access, power bills, fuel deliveries or generator maintenance. "This solar technology has proven to be the best solution for powering our telecommunications equipment at these remote locations," said Christophe Leroy, director-general, TWIST.

To learn more about powering remote applications with Carmanah solar technology, visit www.solarforindustry.com.

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July 7, 2009

Welcome to the Carmanah Investor Update -- a monthly newsletter providing a quick overview on what's new at Carmanah.



Highlights:

*
Carmanah Receives $2.3 Million Order to Power North Africa Telecom Project
*
Carmanah Closes $4 Million Order for LED Lottery Jackpot Signs
*
Bahamas Airport Equips New Runway, Taxiway with Solar-LED Lights
*
"Discover the Next Great Green Investment" Globe and Mail

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide)

News Releases


Carmanah Receives $2.3 Million Order to Power North Africa Telecom Project with Solar Technology
(June 25, 2009) Carmanah has received a follow up order, valued at approximately CAD $2.3 million, from Lyon France-based telecom provider TWIST to supply solar power systems for a telecommunications project in North Africa. The project, facilitated by Solergitech, Carmanah's authorized distributor in the region, will power a network of telecommunications towers with the company's stand-alone solar power systems. . .

Carmanah Closes $4 Million Order for LED Lottery Jackpot Signs
(June 23, 2009) Carmanah has received a USD$4 million order for LED-illuminated "triple jackpot" lottery signs. Designed to provide a bright and attractive promotional display for lottery retailers, each sign features an LED (light emitting diode) illuminated background, replaceable graphic faceplate, and three-digit LED displays to advertise jackpot values for three different games. . .

Bahamas Airport Equips New Runway, Taxiway with Solar-LED Lights
(June 18, 2009) Marsh Harbour International Airport in Abaco, Bahamas is upgrading with solar-powered aviation lights from Carmanah Technologies. As the first phase of a facility-wide expansion and upgrade, the airport has constructed a new 6,100-foot asphalt-paved runway and parallel taxiway that will be equipped with Carmanah solar-powered A704-5 approach lights, A704-5 runway edge lights, and A601 taxiway lights. Valued at approximately USD$400,000, the solar-LED lighting system will provide safe and reliable airfield lighting for this fast-growing facility. . .

For more information, visit news releases on Carmanah.com.

Media Coverage


Media coverage this month included the following:

# BC Business "The Sun Also Rises: Green Tech Makes a Move into the Top Corporate Ranks"
# Globe and Mail "Discover the Next Great Green Investment"
# LEDs Magazine "Tomorrows LEaDers in Canada. . ."
# Globe-Net "Comprehensive Approach Needed for Success"
# Port Technology International "Solar Area Lighting: A Bright Idea for Illuminating Ports"

For more information, visit media clippings on Carmanah.com.

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Solar-Powered A650 Aviation and Obstruction Light
Combines Low Cost with Powerful Performance


VICTORIA, BRITISH COLUMBIA, CANADA (July 08, 2009) Carmanah Technologies (TSX: CMH) today introduced its most versatile and highest value solar-powered light to date: the A650 aviation and obstruction light. Featuring a groundbreaking user interface, replaceable battery pack, intelligent-deployment capability and up to 10 candela of intensity (steady-on), the A650 is ideal for taxiway and apron-edge lighting, emergency airfield and helipad lighting, airfield construction barricade lighting, and obstruction lighting.

Free from wiring or external power requirements, the self-contained A650 aviation light combines a quick and easy installation with impressive versatility and ease of use. A sophisticated on-board interface provides convenient access to configurable settings such as intensity levels and flash codes, while a built-in system status capability indicates overall battery health and geographical location (latitude and longitude). An intelligent-deployment feature enables the A650 to automatically adjust its optical intensity to suit the solar characteristics of its exact geographic location - an industry first. Incorporating an efficient optical design for maximum visibility, the A650 light includes more than 250 flash patterns, and can be ordered in a choice of blue, red, yellow, green or white light outputs. With no bulbs to wear-out, the LED-equipped A650 offers years of reliable, maintenance-free operation, and the replaceable battery pack can extend the product's service life beyond five years for considerable cost savings over time.

As an environmentally responsible alternative, the solar-powered A650 aviation light is assembled with safe, recyclable materials in strict accordance with the European Union's guidelines for the Restriction of Hazardous Substances in electronic equipment (RoHS). Long-term durability, reliability and performance are assured by a three-year product warranty.

Designed to meet applicable ICAO and photometric FAA L-861T Taxiway specifications, the A650 light is suitable for permanent primary lighting, temporary lighting during airfield construction or upgrades, emergency backup lighting, or expedited portable lighting for quick deployment during emergency or humanitarian-aid operations. Designed and tested to the toughest industrial and military standards, Carmanah solar-powered lights ensure a dependable year-round solution.

Industry proven for reliable operation in a range of environments, Carmanah solar-powered LED aviation lights are installed at some of the world's busiest airports, including Chicago O'Hare International Airport, Dubai International Airport, Gatwick International Airport, Singapore Changi International Airport and Toronto Pearson International Airport.

The Carmanah A650 solar-LED light is available now from Carmanah Technologies. For more information, visit carmanah.com.

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Carmanah partners with frog design to introduce
the next generation of solar-LED area lights

VICTORIA, BRITISH COLUMBIA, CANADA (July 15, 2009) Carmanah Technologies Corporation (TSX: CMH) has signed an agreement with frog design inc. to introduce the next benchmark in solar-LED area lighting. Established in 1969, frog design is a global innovation firm that has pioneered some of the world's most groundbreaking designs for trendsetting companies such as Apple, Disney, HP, Louis Vuitton, Logitech, Microsoft, and Sony.

"Exploring the possibilities for the next generation of solar powered lighting is an exciting design challenge," noted Doreen Lorenzo, president of frog design. "Alternative energy solutions are a big part of the future of the field of innovation. We're excited to be partnering with industry leaders like Carmanah."

Built on nearly two decades of experience developing self-contained solar-LED lanterns and beacons for the marine and aviation industries, Carmanah's solar-powered street, parking lot and pathway lights help businesses and communities introduce outdoor area lighting wherever it's needed, without trenching, cabling, grid access, or a monthly utility bill. With more than a quarter of a million units deployed, Carmanah products are widely used and recognized around the world for durability, performance and dependability - operating safely and reliably in some of the world's most challenging environments.

For this significant new product, Carmanah is committed to introducing a trend-setting design that incorporates the unique benefits of today's photovoltaic, LED and lighting technology. "With solar energy more attractive than ever, I believe our technology is fast approaching the tipping point between industry innovation and widespread acceptance," said Ted Lattimore, Carmanah CEO. "Thanks to the amazing capabilities of today's solar-LED technology, solar-LED lighting can offer convenience without compromise - as an affordable, high-performance alternative to traditional wired systems. Today's high-output LEDs produce more light for less power, so batteries, panels and support structures can be smaller and lighter than ever before," said Lattimore. "That's why we're so excited to work with the creative professionals at frog design; together we can deliver a powerful new lighting alternative that's high performance, low maintenance, and great looking - day or night."

Intended for streets, parking lots, pathways and more, Carmanah's next-gen standalone solar-LED light is scheduled for a global product launch in 2010. For more information on solar LED lighting, visit www.carmanah.com.
###

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NASA's Stennis Space Center Equips Green Facility
with Solar-LED Lighting from Carmanah Technologies

VICTORIA, BRITISH COLUMBIA, CANADA (July 16, 2009) NASA's Stennis Space Center Mississippi is lighting a new onsite parking facility with solar-LED technology. As part of the Stennis Space Center's new Cryogenics Control Center facility, the car park will be equipped with bright and efficient EverGEN™ 1520 solar-LED parking lot lights from Carmanah Technologies.

Recently showcased at the LIGHTFAIR International tradeshow and conference in New York City, Carmanah's EverGEN™ 1500-series lights represent the company's most powerful solar-LED area lights to date. Designed as a practical alternative to traditional HID (high intensity discharge) lights, the powerful new design combines the performance of a hard-wired streetlight with the convenience and versatility of a stand-alone solution. AMA Lighting, Carmanah's authorized lighting representative for the region, will work closely with NASA throughout the installation process.

As part of a LEED green-building project, NASA needed a lighting system that was both powerful and energy efficient. Traditional hard-wired lighting options would have exceeded the Center's total allowable energy consumption and affected the facility's LEED rating, so to meet the facility's stringent lighting requirements without increasing overall electricity usage, NASA engineers identified Carmanah's solar-powered LED lights as the perfect solution. An installation of EverGEN 1520 lights would provide a reliable source of bright, uniform light while consuming no additional electricity.

As a stand-alone alternative to traditional hard-wired streetlights, Carmanah solar-powered lights deliver effective outdoor illumination without trenching, cabling or grid access. Featuring custom fixtures by leading LED-lighting designer Beta Lighting, Carmanah solar-powered lights offer superior output and performance in accordance with IESNA (Illuminating Engineering Society of North America) guidelines. A full-cutoff "Dark Sky"-friendly design directs light only where needed (preventing glare or spillover of light onto neighboring properties or into the night sky), while integrated energy management capabilities ensure optimal lighting performance year round.

Carmanah solar LED lights are available now from Carmanah Technologies. For more information, visit carmanah.com.

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Durham College Powers Up with Carmanah Solar Technology

VICTORIA, BRITISH COLUMBIA, CANADA (July 21, 2009) Durham College is using solar technology to help conserve energy and reduce electricity costs at its Whitby, Ontario campus. Designed to supplement the campus's primary utility feed, the grid-tie photovoltaic system will help keep demand and electricity bills under control, while providing students with a real-world example of renewable energy technology in action. The new solar power system is part of a 40,000-square-foot expansion and upgrade of the college's Whitby campus that is designed to increase energy efficiency and energy production while supporting a range of energy-focused programs and learning facilities. Valued at over (CAD) $500,000 installed, the grid-tie photovoltaic system from Carmanah Technologies will be supplied by Osso Electric Supplies (a division of Sonepar Canada Inc.) and installed by Space Age Electric (Oshawa) Ltd.

Founded in 1967, Durham College offers a vast range of full and part-time programs designed to connect students with real-world career opportunities. With a focus on developing the skills needed to excel in today's fast-changing economy, Durham College maintains an outstanding success rate, with 86.5 per cent of 2008 graduates employed within six months of graduation. The college's Whitby Campus is home to the Skills Training Centre with its main campus located in Oshawa, Ontario.

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).

For more information on this or other solar grid-tie applications within Canada, contact Richard Wayte at [e-mail], or visit Carmanah at solarforbuildings.com.

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Carmanah launches high output, low cost solar-LED marine lantern
M650 designed for maximum versatility, reliability and ease of use

VICTORIA, BRITISH COLUMBIA, CANADA (July 29, 2009) Carmanah Technologies (TSX: CMH) today introduced the company's most versatile, cost-effective solar-powered marine lantern to date: the M650 solar-LED marine lantern. Featuring a simple on-board programmable interface, convenient USB connection, replaceable battery pack and intelligent deployment capability, the M650 lantern provides up to four nautical miles of visibility making it ideal for lighting ports, harbours and marinas; marking obstructions and nautical hazards; or illuminating aids to navigation in all types of environments.
Galapagos
Designed for reliable operation in even the most challenging environments, the compact, self-contained M650 lantern features a robust housing designed to endure impacts, vibrations, submersions and temperature extremes in demanding marine environments. Installation is quick and convenient with a secure three-bolt mounting mechanism, and an onboard user interface with numeric display makes set-up easy - whether choosing a flash code, setting intensity levels, checking battery health, or even verifying the lantern's geographic coordinates (latitude and longitude). A built-in intelligent deployment feature enables the M650 to automatically adjust its optical intensity to suit the solar characteristics of its exact geographic location - an industry first.

Incorporating an efficient optical design and a peak intensity of 44 candela (as defined by the International Association of Marine Aids to Navigation and Lighthouse Authorities [IALA]), the M650 marine lantern includes more than 256 flash patterns, and can be ordered in all IALA (December 2008) marine aid to navigation light colours - green, red, blue, yellow and white - as indicated on each unit by a coloured band on the housing. With no bulbs to wear-out, the LED-equipped M650 can operate maintenance-free for up to five years on a single rechargeable (and recyclable) battery pack - then simply replace the old pack with a fresh one to extend the life of the unit for many more years to come.

As an environmentally responsible alternative, the solar-LED M650 marine lantern is assembled with safe, recyclable materials in strict accordance with the European Union's guidelines for the Restriction of Hazardous Substances in electronic equipment (RoHS). Long-term durability, reliability and performance are assured by a three-year product warranty.

Versatile, durable and cost-effective, the Carmanah M650 solar-LED marine lantern is available now from Carmanah Technologies. For more information, visit the M650 product page on carmanah.com. To see the M650 in action, check out Carmanah's "extreme testing" video on YouTube at www.youtube.com/user/CarmanahSolar.

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Solar Lighting Illuminates Parking Lot, Keeps Skies Dark in Tucson, Arizona


VICTORIA, BRITISH COLUMBIA, CANADA (July 30, 2009) As part of an initiative to reduce energy consumption by 10 percent at its Tucson, Arizona-based headquarters, a global high-tech equipment designer and manufacturer has equipped one of its employee parking lots with solar-powered LED lights from Carmanah Technologies (TSX: CMH). For this sustainable-development project, facility managers selected R.C. Lurie Company of Southern Arizona -- Carmanah's authorized representative for the region -- to equip the facility with EverGEN™ 1520 solar-powered LED lights.

Designed specifically for industrial-scale street and parking applications, the stand-alone EverGEN 1520 outdoor light provides a reliable source of bright, uniform illumination wherever it's needed, without trenching, cabling or grid access. Featuring the industry-proven LEDway™ lighting fixture by BetaLED™, the EverGEN 1520 provides unparalleled performance for a solar-powered LED light of its size.

While operating in accordance with IESNA (Illuminating Engineering Society of North America) guidelines, the EverGEN 1520 also complies with the City of Tucson and Pima County's stringent outdoor-lighting ordinances -- implemented more than 30 years ago to help limit light pollution and preserve the region's dark nighttime sky for Pima County's residents, visitors, and world-class astronomy industry. A "dark-sky" friendly full-cutoff design ensures each EverGEN 1520 delivers light only where needed, while reducing or eliminating common outdoor lighting challenges such as glare, spillover and skyglow.

Aside from the reduced installation costs of a wireless lighting alternative, the impressive performance, durability and lifespan of each solar-LED light offered additional savings. When compared against other off-grid LED and compact-fluorescent alternatives, the EverGEN 1520 outperformed the rest, enabling the facility to purchase fewer lights and install them at greater distances than originally anticipated. With no bulbs to burn out and no scheduled maintenance required for up to five years, the new solid-state lighting system is also expected to help reduce operating costs over time, while completely eliminating utility fees for illuminating the lot.

The EverGEN 1520 solar-LED lighting system is available now from Carmanah Technologies. For more information, visit carmanah.com, or telephone [phone] (toll free in US and Canada).


###

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Carmanah Q2 2009 results reflect 20% increase in strategic revenues

VICTORIA, BRITISH COLUMBIA, CANADA (August 10, 2009) Carmanah Technologies Corporation (TSX: CMH) today announced its second quarter financial results for the three-month period ending June 2009. Strategic sales were $7.3 million, up almost 20% over the same period the prior year, although total sales for Q2 2009 were $9.3 million, down from $15.7 million for the same period last year, due the exiting of various low margin product lines.

Highlights for the Quarter

* Revenues: $9.3 million, down from $15.7 million for the same period in 2008
* Strategic Revenues: $7.3 million, up from $6.1 million for the same period in 2008
* Gross margin: 37%, up from 32.5% in 2008
* Operating expenses: $4.2 million, down from $5.6 million in 2008
* Net loss: $1.0 million, up from $0.4 million in 2008
* Adjusted EBITDA: Adjusted EBITDA of ($1.1) million, down from $0.4 million in 2008
* Cash flow from operations: $2.5 million, up from $1.5 million in 2008
* Cash balance: $10.2 million as at June 30, 2009, from $5.5 million at the same period in 2008
* Nil debt: Continued debt-free operation

Summary of Results
Carmanah, like most businesses, has not been immune from the global economic downturn, but significant sales growth in its key strategic markets indicate a continued and growing demand for the company's cost-effective solar-LED lighting products. Even while overall sales declined in the second quarter due to the exiting of several tactical businesses, strategic sales - which are anticipated to provide the greatest future revenue growth - increased 20% over 2008 to $7.3 million. Throughout this period, the company also continued to closely monitor and control its operating costs and working capital, which has provided a stronger cash position to fund additional strategic initiatives.

"While not without its challenges, Q2 2009 has provided us with some exciting milestones, and reinforced the resilient nature of our strategic markets and our technological strengths," said Ted Lattimore, Carmanah CEO. "During this quarter, we formally introduced our powerful new EverGEN™ 1500 parking lot light to the global lighting community at LIGHTFAIR in New York City, and this same light has recently been chosen for several high-profile locations, including NASA's research facility in Mississippi. We've also geared up our R&D efforts in our Vancouver, B.C. research facility, introduced new products and are very excited about the upcoming début of our new outdoor light, the EVERGEN 1700. Our strategic sales are up, and as always - we continue to find our marine, aviation and obstruction lights in demand around the world," added Lattimore. "Looking ahead, our priorities remain firm: focus on our strengths, keep costs low, and continue to develop and sell innovative and relevant products that provide real value to our customers."

According to Roland Sartorius, Carmanah CFO, the company's continued strong balance sheet and conservative financial focus are key in helping to guide it through today's volatile global markets. "During the second quarter, one of our greatest challenges has been related to foreign exchange risk management. As a policy, we attempt to hedge our USD net transactional cash flows but our strong working capital and changed business model continue to add volatility to our results. As a result of our new global distribution and supply chain strategies, we continue to be exposed to large non-cash USD translational swings which are less predictable and controllable. As such, to better align our accounting with our economic realities and to simplify our hedging needs going-forward, we plan to convert our functional and reporting currency to USD from CDN in the second half of the year," said Sartorius. "All this said, investors need to note, Carmanah continues to have zero debt, cash in the bank, loyal customers, and some powerful new products just hitting the marketplace - although these are challenging times for many, I'd say our future looks bright."

Sales
Sales for the second quarter of 2009 were $9.3 million, down approximately $6.4 million from the same period in 2008. The overall decline in sales, both for the three-months ended and six-months ended June 30, 2009, was primarily due to lower tactical revenues caused by exiting various low margin product lines. A summary of revenues from each of the company's Strategic and Tactical business segments is displayed below:


Sales


For the three months ended June 30

($ thousands)


2009


2008


Change




$


Mix


$


Mix


$


%

Strategic



















Solar LED Lights
6,816
73%
5,566
35%
1,250
22%

Solar Power Systems
453
5%
556
4%
(103)
19%

Total Strategic
7,269
78%
6,122
39%
1,147
19%









Tactical







Distribution
1,335
14%
6,669
42%
(5,334)
80%

Signage
743
8%
2,958
19%
(2,215)
75%

Total Tactical
2,078
22%
9,627
61%
(7,549)
78%









Total Revenue
9,347

15,749

(6,402)
41%


Summary of EBITDA and Net Income

* Adjusted EBITDA for Q2 2009: ($1.1) million.
* Net loss for Q2 2009: ($1.0) million.

Non-GAAP Measures
The company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is net income (loss) before interest, income taxes, amortization, and restructuring charge ("Adjusted EBITDA").


Adjusted EBITDA reconciliation


For the three months ended

($ thousands)


June 30, 2009


June 30, 2008

Net income (loss)
(987)
(352)

Add (deduct):



- Interest
(57)
(30)

- Income taxes
(350)
(32)

- Amortization
260
267

- Restructuring charge
31
551

Adjusted EBITDA
(1,103)
404

Progress During the Quarter (including subsequent events)
During this quarter, Carmanah made continued progress in refining and accelerating the company's focus on its strategic direction:

* Carmanah showcased its next generation of solar-powered LED lights at the LIGHTFAIR International tradeshow and conference in New York City. As part of a new "General Illumination" (GI) product line, Carmanah featured a range of solar-powered lights for street and parking lot applications, including the powerful new EverGEN™ 1500, along with a preview of the sleek new EverGEN 1700-series design. (May 05, 2009)

Other highlights during this quarter included:

* Carmanah received a $2.3 million order from Lyon, France-based telecom provider TWIST. This follow up order would supply solar power systems for a telecommunications project in North Africa. (June 25, 2009)
* Carmanah closed a $4 million order for LED lottery jackpot signs. Designed to provide a bright and attractive promotional display for lottery retailers, the triple jackpot signs feature an LED (light emitting diode) illuminated background, replaceable graphic faceplate, and three-digit LED displays to advertise jackpot values for three different games. (June 23, 2009)
* Marsh Harbour International Airport in Abaco, Bahamas upgrading with Carmanah aviation lights. Valued at approximately USD$400,000, the solar-LED lighting system will provide safe and reliable airfield lighting for this fast-growing facility. (June 18, 2009)
* The United States Coast Guard (USCG) placed a $600,000 order for hundreds of solar-LED marine lanterns. This latest shipment of 701-5 and 704-5 lanterns will replace older incandescent lanterns while providing an additional level of safety and security for marine traffic and Gulf Coast communities during the hurricane season. (June 02, 2009)
* A housing complex development in Surrey, BC ordered a $1.34 million grid tie system. As part of BC Housing's commitment to developing sustainable social housing, Greenbrook will be equipped with a grid-tie solar power system designed to provide 10 percent of the development's annual electricity requirements to assist with common area loads. (May 26, 2009)
* Rob Cruickshank was appointed Carmanah Technologies' Chairman of the Board. "Rob Cruickshank brings an impressive range of knowledge and experience to this role," said Dr. David Green, the founder of Carmanah Technologies who has served as Chairman for the last eight years. "I feel I am leaving the position of Chairman in very capable hands and that Rob will complete the process of succession and renewal that our board commenced in 2007." (May 22, 2009)
* Piarco International Airport - Trinidad's largest and most modern airport in the Caribbean region - upgraded its airfield lighting with Carmanah airfield lights. Valued at approximately $300,000, the order included A704-5 runway edge lights, approach lights and threshold lights, as well as A702 taxiway lights, mounting hardware and wireless handheld radio remote-control equipment. (May 6, 2009)
* The City of Toronto upgraded one of its parking facilities with a Carmanah grid-tied solar power system. 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. (April 08, 2009)

Complete set of Financial Statements and Management Discussion & Analysis
A complete set of Q2 2009 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.

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Carmanah divests of LED edge-lit signs business to continue
focusing on Strategic Solar Lighting & Power Technology Markets


VICTORIA, BRITISH COLUMBIA, CANADA (August 18, 2009) Carmanah Technologies (TSX: CMH) is pleased to announce that the Company and Dr. David Green have today closed on an agreement whereby Dr. Green, through his holding company, has purchased Carmanah's LED edge-lit signs business, Carmanah Signs Inc. ("CSI"). This transaction is aligned with Carmanah's business strategy to focus on strategic solar lighting and technology markets. As part of the transaction, Dr. Green has resigned as a member of the Carmanah Board of Directors in order to pursue this opportunity.

Under the agreement, Dr. Green, through an incorporated company controlled by him, will pay a combined total of approximately $2M for the shares of CSI and for repayment of CSI's inter-company debt to Carmanah Technologies Corporation. The deal includes a combination of cash payments and a common share buy-back by Carmanah of approximately 1 million of the Company's shares owned by Dr. Green. These common shares will be returned to Treasury.

Carmanah has been pursuing the sale of CSI for several months independently as well as seeking the services of an independent broker with no other acceptable offers being presented. The offer presented by Dr. Green met Carmanah's objective of receiving, at a minimum, net book value for the business as well as provided attractive payment terms that included re-payment of the inter-company debt, short settlement dates and rapid closure of the deal.

Following the transaction, Dr. Green will maintain an equity position in Carmanah, representing approximately 3% of the total common shares outstanding.

Dr. Green founded Carmanah in 1995, becoming Chairman when the Company went public in 2000. He resigned as Chairman in May, 2009, but stayed on the Board to assist the new Chairman with the transition into his new role.

According to Dr. Green, he looks forward to retiring from the Board to pursue this private business venture, confident that Carmanah's strategic growth plan is in capable hands. "Both the management team and the Board of Carmanah are now highly organized and focused on achieving a single goal: dominance in the solar lighting business. Ted Lattimore, the new CEO, has completed a restructuring that has refocused Carmanah on its core strengths, developed a network of partners, and articulated a strategic plan that has the consensus of all of the management team." Dave concludes, "I am retiring from the Carmanah Board with a sense of pride that my succession plan is complete, and I look forward to returning to what I do best: developing an earlier stage company."

Carmanah CEO Ted Lattimore noted that the sale of CSI is positive for all stakeholders. "The recent record purchase order for lottery signs by CSI demonstrates the continued opportunity for the signage business. Yet the business requires focus and capital investment that Carmanah Technologies Corp is not prepared to make as a result of our concentration on the strategic solar lighting and power areas of our business. New life can be injected into CSI under Dr. Green's guidance, and the reward can be even greater growth."

For more information, visit carmanah.com, or telephone [phone] (toll free in US and Canada).

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Nuclear Power Plant Goes Solar
with Off-Grid LED Outdoor Lighting


VICTORIA, BRITISH COLUMBIA, CANADA (August 25, 2009) One of California's largest state utilities, Southern California Edison (SCE), is lighting up the night with solar technology at its San Onofre Nuclear Generating Station (SONGS). To illuminate its main employee parking areas, Edison is equipping the site with solar-powered LED lights from Carmanah Technologies (TSX: CMH). By using solar technology as an alternative to traditional grid-powered lights, the EverGEN™ 1500-series lighting system can provide a reliable source of bright uniform illumination while avoiding the costs and challenges typically associated with trenching, cabling, and accessing electrical grid power.

Featuring custom BetaLED® light fixtures, Carmanah solar-powered lights offer superior output and performance in accordance with IESNA (Illuminating Engineering Society of North America) guidelines. A full-cutoff "Dark Sky"-friendly design directs light only where needed (preventing glare or spillover of light onto neighboring properties or into the night sky), while integrated energy management capabilities ensure optimal lighting performance year round. With no bulbs to replace and a five-year battery life, the EverGEN 1500 lights will help Southern California Edison reduce maintenance and operating costs while serving as a lasting, practical investment in renewable energy technology.

EverGEN 1500-series solar LED lights are available now from Carmanah Technologies. For more information, visit carmanah.com, or telephone [phone] (toll free in US and Canada).

[juni2009]

hier wird wohl nicht sonderlich viel diskutiert, oder ???

(und Englisch sollte man auch ordentlich können ....)

Erwähnung im Aktionär und in Deutschland einige krasse Ausschläge - ich steige ein !!

[R-BgO]

Antwort auf Beitrag Nr.: 37.939.852 von juni2009 am 08.09.09 17:04:06

Alleine diskutieren ist halt schlecht

Und die Quellen sind auf englisch.

Was stand denn im Aktionär?

[R-BgO]

September 08, 2009

This month's Carmanah Investor Update provides a quick overview on what's new at Carmanah.



Highlights:

*
Nuclear power plant goes solar with off-grid LED outdoor lighting
*
Carmanah divests of LED edge-lit signs business
*
Carmanah Q2 2009 results reflect 20% increase in strategic revenues

Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide)

News Releases


Nuclear power plant goes solar with off-grid LED outdoor lighting
(August 25, 2009) - One of California's largest state utilities, Southern California Edison (SCE), is lighting up the night with solar technology at its San Onofre Nuclear Generating Station (SONGS). To illuminate its main employee parking areas, Edison is equipping the site with solar-powered LED lights from Carmanah Technologies (TSX: CMH). By using solar technology as an alternative to traditional grid-powered lights, the EverGEN™ 1500-series lighting system can provide a reliable source of bright uniform illumination while avoiding the costs and challenges typically associated with trenching, cabling, and accessing electrical grid power. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

EverGEN solar lights illuminate SONGS parking lot

Carmanah divests of LED edge-lit signs business . . .
(August 18, 2009) Carmanah Technologies is pleased to announce that the Company and Dr. David Green have today closed on an agreement whereby Dr. Green, through his holding company, has purchased Carmanah's LED edge-lit signs business, Carmanah Signs Inc. ("CSI"). This transaction is aligned with Carmanah's business strategy to focus on strategic solar lighting and technology markets. As part of the transaction, Dr. Green has resigned as a member of the Carmanah Board of Directors in order to pursue this opportunity. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

Carmanah Q2 2009 results reflect 20% increase in strategic revenues
(August 10, 2009) Carmanah Technologies today announced its second quarter financial results for the three-month period ending June 2009. Strategic sales were $7.3 million, up almost 20% over the same period the prior year, although total sales for Q2 2009 were $9.3 million, down from $15.7 million for the same period last year, due the exiting of various low margin product lines. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

For more information, visit news releases on Carmanah.com.

Media Coverage


Recent media coverage includes the following:

* LEDs Magazine "Carmanah launches high output, low-cost solar-LED marine lantern"
* Port Technology International "Carmanah launches high output, low cost solar-LED marine lantern"
* Maritime News "Carmanah launches high output, low cost solar-LED marine lantern"
* National Post "Solar LEDs power up Carmanah sales"
* Times Colonist "Carmanah bright on new lights"
* Alberni Valley Times "Carmanah sees bright future on the streets"
* AHN News "Green lights boost sales of British Columbia firm"
* Solid State Technology "Carmanah Q2 2009 results reflect 20% increase in strategic revenues"
* Phoenix Examiner "Amazing illumination"
*
The Parking Professional "Solar-LED Lighting: A Powerful Parking Alternative"
*
Financial Post "Solar LEDs power up Carmanah sales"

For more information, visit media clippings on Carmanah.com.

[juni2009]

Antwort auf Beitrag Nr.: 37.941.225 von R-BgO am 08.09.09 19:55:29

aktionär:

explosive kombination

von wegen tolles produkt in zwei boombranchen in solar und led

kurzer umriss, was erzeugt wird (seefahrt, straßenlaternen, flughäfen und auch der auftrag für ein atomkraftwerk in kalifornien

fazit:

die produkte von carmanah liegen voll im trend, zudem besitzen die kanadier mit der solar-led-kombination einen wichtigen wettbewerbsvorteil. 2010 soll die gewinnzone erreicht werden. risikofreudige anleger steigen schon jetzt ein.


ich bin mit meinem limit am dienstag nicht durchgekommen, werde es heute nochmal in kanada probieren ...

wieviel von den dingern hast du denn ??

[R-BgO]

Antwort auf Beitrag Nr.: 37.956.426 von juni2009 am 10.09.09 17:47:52

nicht viele; beobachte seit Jahren

[R-BgO]

Solar powered parking-lot light delivers affordable off-grid illumination
Carmanah EverGEN 1710 developed in partnership with frog design


VICTORIA, BRITISH COLUMBIA, CANADA (September 10, 2009) Carmanah Technologies (TSX: CMH) today unveiled the newest design in solar LED lighting: the EverGEN™ 1710 solar-powered area light. Designed as a compact stand-alone lighting alternative for off-grid parking lots and other municipal, commercial or industrial areas, the new EverGEN light combines advanced motion-sensing capabilities with a range of energy saving operating profiles to ensure bright, reliable illumination whenever and wherever it's needed. Featuring a dark-sky friendly LED fixture designed by industry-leading lighting manufacturer BetaLED, the EverGEN 1710 solar light incorporates all of the elements of a complete solar power system in a compact, pole-mounted design developed by world-renowned global innovation firm frog design. EverGEN 1710

According to Ted Lattimore, Carmanah CEO, Carmanah and frog design shared a common goal throughout the design process: to present a powerful new lighting alternative characterized by elegance of design and efficiency of operation. "We knew this light would be special - delivering big system performance in the smallest form factor yet - so when it came to the design, we wanted the very best," said Lattimore. "Working closely with the team at frog, we settled on a unique design that reflects the essence of renewable energy: clean, simple, practical and efficient. Although it's a tough, high output, industrial-strength light, the quality finish and distinctive, contemporary styling would look great just about anywhere," said Lattimore. "But best of all it performs better than anything in its category - it's a practical, cost-effective renewable energy alternative."

Since 1969, frog design has pioneered some of the world's most groundbreaking designs for trendsetting companies such as Apple, Logitech, Microsoft and Sony. In discussing the partnership with Carmanah, Doreen Lorenzo, president of frog design, said, "The opportunity to partner with Carmanah to create a solution that is both beautiful and functional was one our designers embraced. It is a great example of innovation positively affecting our environment."

Built on nearly two decades of experience developing self-contained solar-LED lanterns and beacons for the marine, traffic and aviation industries, Carmanah's solar-powered street, parking lot and urban lighting products help businesses and communities introduce outdoor area lighting wherever it's needed, without trenching, cabling, grid access, or a monthly utility bill. With more than a quarter of a million units deployed, Carmanah products are widely used and recognized around the world for durability, performance and dependability - operating safely and reliably in some of the world's most challenging environments. As an environmentally responsible alternative, Carmanah's solar-powered EverGEN 1710 area light is assembled using safe, recyclable materials in strict accordance with the European Union's guidelines for the Restriction of Hazardous Substances in electronic equipment (RoHS).

The EverGEN 1710 solar light is scheduled for availability in early 2010. For more information,
visit the EverGEN 1710 product page on the Carmanah web site.

[juni2009]

Antwort auf Beitrag Nr.: 37.966.542 von R-BgO am 11.09.09 23:12:56

so, jetzt hab ich mich getraut und bin mit 20' stück dabei !!!

und jetzt ab nach norden !!!!!!!!!!!!!!!!!!!!!!!!

[IngelbertZ]

Antwort auf Beitrag Nr.: 38.307.308 von juni2009 am 03.11.09 09:23:18

Ein interessanter Artikel vom 05.11.2009 :

http://www.finanznachrichten.de/nachrichten-2009-11/15397843…

Was haltet ihr davon ?

Solar mit LED zusammen ist meiner Meinung nach eine vielversprechende Kombination.

Benutzt man diese Kombination bei z.B. Straßenbeleuchtungen fällt u.a. auch die Verkabelung und das Aufreißen der Wege zu den Beleuchtungsstationen weg. Hat Vorteile....

[turnplus]

I´m since yesterday private investor.(4000 euwax)

I´ll writing a OLED-research in the next months.

[R-BgO]

Formula One Circuit Goes Solar with Carmanah Technologies
Yas Marina Circuit Equips High-Tech Track for Abu Dhabi Grand Prix

VICTORIA, BRITISH COLUMBIA, CANADA (October 21, 2009) This fall, the world of motorsport will celebrate a spectacular new venue when the first Formula 1™ Etihad Airways Abu Dhabi Grand Prix takes place on Yaz Island from October 30th to November 1st. Combining world-class luxury and cutting-edge innovation, the Yas Marine Circuit also incorporates solar-LED lighting technology from Carmanah Technologies (TSX:CMH), provided by Carmanah's authorized distributor in the Middle East, PTL SOLAR.

Designed to perform reliably in some of the world's most challenging environments, Carmanah's solar-LED obstruction lights are compact, durable and self-contained, making them a suitable choice for a range of applications - whether helping to mark a sweltering airfield runway, a frozen navigational buoy, or obstructions along a busy roadway. For this application, one hundred Carmanah 600-series lights will help mark potential hazards to ground and air traffic including towers, lamp standards and obstructions along the YAS Marina Circuit's trackside. Other Carmanah solar-LED technology at this location includes two internally illuminated windsocks, designed to accommodate round-the-clock helicopter service.A650 solar-LED obstruction light

As the only motorsports venue in the world to offer covered grandstands for all (50,000+) spectators, the new Yas Marina Circuit will also be the first Formula 1 venue to start the race in daylight and end during nighttime. Sophisticated lighting technology throughout the facility will ensure a seamless transition from daylight to dark, providing a consistent daylight effect, while eliminating shadow or glare for drivers and spectators alike. As part of this optimized lighting environment, Carmanah's LED lighting equipment will offer a safe and practical solution.

Designed for optimum visibility, Carmanah's time-tested A601 and state-of-the-art A650 obstruction lights offer more than 250 possible flash patterns, and can be ordered in a choice of blue, yellow, green, white, or as in this case, red light outputs. Optimized and tested to the toughest industrial standards, Carmanah solar-powered lights will ensure a dependable year-round solution for this challenging application. For more information, visit www.carmanah.com.

[R-BgO]

Carmanah announces change of reporting currency to US dollars, realigned reporting segments, and release date for 2009 Q3 financial results


VICTORIA, BRITISH COLUMBIA, CANADA (November 4, 2009) Carmanah Technologies Corporation (TSX: CMH) today confirmed that the company will change the reporting currency of its financial information from Canadian dollars to US dollars, effective the third quarter of 2009. This action, previously communicated in the company's 2009 second quarter report, reflects the profile of its revenue and net profit which are now primarily generated in US dollars.

"The move to reporting in US dollars just makes sense," said Roland Sartorius, CFO, Carmanah Technologies. "As our business has evolved in recent years, so have the currencies in which we primarily transact our business. Our pricing, manufacturing, and most of our expenses are in US dollars, so we feel this change in reporting currency will better reflect our business activities, mirror our transactional functional currency and improve financial statement users' ability to compare our financial results."

The change will be effective for the three months ending and nine months ending September 30, 2009. These results will be reported on November 12, 2009 in US dollars. All comparative figures will be converted into US dollars. Carmanah, which is registered and has its headquarters in Canada, will maintain its listing on the Toronto Stock Exchange, with its shares quoted in Canadian dollars.

Also starting the third quarter of 2009, the company has realigned its reporting segments to better reflect how it views and manages its business. The categories previously referred to as "Strategic" and "Tactical," will now be segmented into:

* "Signals & Illumination" (which includes solar-powered beacons for marine, aviation & industrial applications and solar powered area lighting),
* "Systems & Other" (which includes mobile power systems, off grid and grid tie solar power systems for industrial applications). For comparative purposes, the Other category will reflect the businesses which the company has recently exited such as home power, distribution and edge-lit road signage).

The sale of the edge-lit interior signage business during the third quarter of 2009, will be reported as "Discontinued operations" and will be shown separately from continuing operations. According to Roland Sartorius, "this realignment in our reporting essentially reflects the end of our restructuring initiatives and will allow us to better present the results from our growth focus."

For comparative purposes, key quarterly historical reported results, dating back to the first quarter of 2008 and up to the second quarter of 2009, converted from Canadian dollars to US dollars and revised under the new reporting segments, have been attached to this announcement.

Carmanah will release its third-quarter 2009 financial results on Thursday, November 12, 2009 at 1:00 pm PT (4:00 pm ET). Conference call scheduling and contact information will be announced closer to that date.

For more information, visit www.carmanah.com, or telephone [phone] (toll free in US and Canada).

To view consolidated balance sheet and consolidated income statement information, refer to the full version of this news release (pdf) at
www.carmanah.com/portals/1/docs/news_releases/20091104_currency_changes.pdf.

[turnplus]

zero debits.

That´s fine.

[turnplus]

Highlights for the Quarter

* Revenues: $9.5 million, down from $12.2 million for the same period in 2008

* Signal & Illumination Revenues: $5.4 million, down from $6.9 million for the same period in 2008

* Gross margin: 33%, down from 38% in 2008

* Operating expenses before restructuring: $3.2 million, down from $4.1 million for the same period in 2008

* Net income: $1.2 million, up from $0.7 million in 2008

* Adjusted EBITDA: $1.4 million, up from $1.2 million in 2008

* Cash flow from operations: $1.7 million, up from negative cash flow of $0.9 million in 2008

* Cash balance: $8.9 million as at September 30, 2009, up from $4.1 million at the same period in 2008

* Nil debt: Continued debt-free operation

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Adjusted EBITDA reconciliation For the three months ended
($ thousands) September 30, 2009 September 30, 2008
Net income 1,244 746
Add (deduct):
Interest (121 ) (13 )
Income taxes (11 ) 40
Amortization 202 470
Restructuring charge - 466
Discontinued operations 104 (467 )
Adjusted EBITDA 1,418 1,242

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Three months ended September 30, Nine months ended September 30,
2009 2008 2009 2008
Net Income $ 1,244 $ 746 $ 258 $ 483
Other comprehensive income/(loss):
Cumulative translation adjustment relating to
CSI (note 11)
141 - 141 -
Translation adjustment - (1,482) 970 (2,465)
Comprehensive income/(loss) $ 1,385 $ (736) $ 1,369 $ (1,982)

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Carmanah announces Q3 2009 results

VICTORIA, BC, CANADA (November 12, 2009) Carmanah Technologies Corporation (TSX: CMH) today announced its third quarter financial results for the three-month period ending September 2009. (All amounts are in US dollars.)

Highlights for the Quarter

* Revenues: $9.5 million, down from $12.2 million for the same period in 2008
* Signs & Illumination Revenues: $5.4 million, down from $6.9 million for the same period in 2008
* Gross margin: 33%, down from 38% in 2008
* Operating expenses before restructuring: $3.2 million, down from $4.1 million for the same period in 2008
* Net income: $1.2 million, up from $0.7 million in 2008
* Adjusted EBITDA: $1.4 million, up from $1.2 million in 2008
* Cash flow from operations: $1.7 million, up from negative cash flow of $0.9 million in 2008
* Cash balance: $8.9 million as at September 30, 2009, up from $4.1 million at the same period in 2008
* Nil debt: Continued debt-free operation

Summary of Results

Although the global economic downturn continues to present a challenge, a streamlining of operations and the resulting reduction in operating expenses is helping to keep operating costs low, while the introduction of several new products including the restyled EverGEN 1710 light presents new opportunities. An initiative to realign its reporting segments will see the categories previously referred to as "Strategic" and "Tactical," be referred to as "Signals & Illumination" (including solar-powered beacons for marine, aviation & industrial applications and solar powered area lighting) and "Systems & Other " (including mobile power systems, off grid and grid tie solar power systems). Also, effective this quarter, the company has changed the reporting currency of its financial information from Canadian dollars to US dollars. This action, previously communicated in the company's second quarter report, better reflects the profile of its revenue and net profit, which are now primarily generated in US dollars.

"As the next step in our company's evolution, we celebrated some significant milestones this quarter, with the launch of some exciting new products including the M650 and A650 signal lights, and of course the EverGEN 1710," said Ted Lattimore, Carmanah CEO. "We also saw some significant applications of our lighting technology at facilities such as SONGS and NASA. Looking ahead, our priorities remain: focus on our strengths, keep costs low, and continue to offer the high quality, cost-effective solar technology."

"We feel that reporting in US dollars will better reflect our business activities, mirror our transactional functional currency and improve financial statement users' ability to compare our financial results," said Roland Sartorius, CFO, Carmanah Technologies." As our business has evolved in recent years, so have the currencies in which we primarily transact our business. Our pricing, manufacturing, and most of our expenses are in US dollars, so reporting is US dollars makes good sense. Although this quarter was a challenging one, Carmanah continues to have zero debt, cash in the bank, loyal customers, and some of the brightest and most innovative solar lighting products out there. Moving forward we'll continue to control costs and deliver the technology that today's lighting market needs."

Sales
Sales for the third quarter of 2009 were USD $9.5 million, down approximately USD $2.7 million from the same period in 2008. The overall decline in sales, both for the three-months ended and nine-months ended September 30, 2009, was again due in part to lower System & Other revenues caused by exiting various low margin product lines. A summary of revenues from each of the company's Signals & Illumination and "Systems & Other" business segments is displayed below:


Sales


For the three months ended September 30

(US$ thousands)


2009


2008


Change




$


Mix


$


Mix


$


%

Signals & Illumination



















Solar LED Lights
4,354
46%
6,800 56%
(2,446)
36%

Solar Power Systems
1,042
11%
131
1%
911 695%

Total
5,396
57%
6,931
57%
(1,535)
22%









Systems & Other







Solar Power Systems
and Grid-Tie
4,099
43%
2,248
18%
1,851 82%

Signage
-
0%
2,991
25%
(2,991)
100%

Total
4,099
43%
5,239
43%
(1,140)
22%









Total Revenue
9,495
12,170

(2,675)
22%


Summary of EBITDA and Net Income

* Adjusted EBITDA for Q3 2009: $1.4 million.
* Net income: $1.2 million.

Non-GAAP Measures

The company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is net income (loss) before interest, income taxes, amortization, and restructuring charge ("Adjusted EBITDA").


Adjusted EBITDA reconciliation


For the three months ended

($ thousands)


September 30, 2009


September 30, 2008

Net income (loss)
1,244
746

Add (deduct):



- Interest
(121)
(13)

- Income taxes
(11)
40

- Amortization
202
470

- Restructuring charge
-
466

- Discontinued operations
104
(467)

Adjusted EBITDA
1,418 1,242

Progress During the Quarter
During this quarter, Carmanah made continued progress in refining and accelerating the company's focus on its strategic direction:

* Carmanah unveiled the EverGEN 1710 solar light developed in partnership with frog design. Designed as a compact stand-alone lighting alternative for off-grid parking lots and other municipal, commercial or industrial areas, the new EverGEN 1710 light combines advanced motion-sensing capabilities with a range of energy saving operating profiles to ensure bright, reliable illumination whenever and wherever it's needed. (September 10, 2009)

Other highlights during this quarter included:

* One of California's largest state utilities, Southern California Edison (SCE) illuminated the main employee parking areas at its San Onofre Nuclear Generating Station (SONGS) EverGEN™ 1500-series solar lights (August 25, 2009)
* Carmanah divested of its LED edge-lit signs business. The Company and Dr. David Green closed on an agreement whereby Dr. Green, through his holding company, purchased Carmanah's LED edge-lit signs business, Carmanah Signs Inc. ("CSI"). As part of the transaction, Dr. Green resigned as a member of the Carmanah Board of Directors. (August 18, 2009)
* A Tucson, Arizona-based high-tech equipment designer and manufacturer installed Carmanah 1520 solar parking lot lights as part of an initiative to reduce energy consumption (July 30, 2009)
* Carmanah introduced the M650 solar-LED marine lantern. Featuring a simple on-board programmable interface, convenient USB connection, replaceable battery pack and intelligent deployment capability, the M650 lantern provides up to four nautical miles of visibility making it ideal for lighting ports, harbours and marinas; marking obstructions and nautical hazards; or illuminating aids to navigation in all types of environments. (July 29, 2009)
* Durham College powered up with Carmanah solar technology. The College used Carmanah solar technology to help conserve energy and reduce electricity costs at its Whitby, Ontario campus. (July 21, 2009)
* NASA's Stennis Space Center equipped a green facility with EverGEN™ 1520 solar-LED parking lot lights. The lights were installed at the Stennis Space Center's new Cryogenics Control Center facility (July 16, 2009)
* Carmanah partnered with frog design to introduce the next generation of solar-LED are lights. Established in 1969, frog design is a global innovation firm that has pioneered some of the world's most groundbreaking designs for trendsetting companies. (July 15, 2009)
* Carmanah introduced the A650 aviation and obstruction light. Featuring a groundbreaking user interface, replaceable battery pack, intelligent-deployment capability and up to 10 candela of intensity (steady-on), the new A650 aviation and obstruction light is ideal for taxiway and apron-edge lighting, emergency airfield and helipad lighting, airfield construction barricade lighting, and obstruction lighting. (July 8, 2009)

Complete set of Financial Statements and Management Discussion & Analysis
A complete set of Q3 2009 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.

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Carmanah Establishes Middle East Manufacturing
Partnership with PTL Solar™


VICTORIA, BRITISH COLUMBIA, CANADA (December 7, 2009) -- Carmanah Technologies and PTL Solar™ today announced a manufacturing partnership that will bring leading-edge solar LED lighting technology to the Middle East and selected countries in Africa. PTL Solar and Carmanah have partnered to manufacture solar LED lighting solutions for outdoor lighting applications at a facility under ENPARK in Dubai.

The manufacturing agreement will allow both companies to penetrate further into the outdoor lighting market in the Middle East and selected countries in Africa and will help them to service major clients in the region.

The first of its kind in Dubai UAE, the manufacturing partnership will combine the ingenuity of a UAE-based company with the leading-edge technology of Carmanah solar LED lighting solutions. The partnership will enable flexibility and responsiveness in meeting market demands while providing high-performing solar LED lighting solutions within a cost framework the market expects. With an increased ability to service the market with durable, reliable solar LED lighting, and providing increased job opportunities for Dubai residents, the manufacturing partnership will provide significant benefits for the partnering companies and the community.

"We are pleased to partner with PTL Solar to create the first 'Powered by Carmanah' solar LED lighting solution," said Ted Lattimore, Carmanah CEO. "As the leading Carmanah distributor, PTL Solar brings a wealth of information and local knowledge to the partnership. In addition to their expertise, PTL also offers a centralized location and an established distribution base which we expect will create an increased presence for Carmanah in the marketplace."

Prabissh Thomas, PTL Solar, Managing Director said, "We offer the best energy solutions customized to meet any power requirement. Individuals as well as corporations and governments, are becoming more educated on the importance of conserving energy and utilizing sustainable resources. As our list of clientele continues to expand, we have decided to partner with a world leader in solar LED technology to secure our supply of reliable solar technology.

Solar-powered LED lights that are manufactured at our facility will offer value for money and will provide cost-effective instant lighting solutions using high-quality components. We are confident our partnership with a pioneering company such as Carmanah will bring enormous benefits to the region."

Powered by Carmanah solar technology and incorporating LED fixtures by RUUD lighting, the solar LED lighting solutions will provide stand-alone lighting that functions completely free from electrical grid connections, providing highly reliable illumination for a variety of outdoor lighting applications including streets, parking lots and residential areas. At the forefront of lighting innovations, LED technology offers a performance life of up to 100,000 hours and has a low power draw: making it an ideal match for solar power. The Middle East offers a favourable solar environment, allowing for the easy implementation of solar LED technology in virtually any location.

[juni2009]

na spitze,
ich war dieser tage kurz davor, die geduld zu verliehen und meine kröten aus dem wert zu nehmen und siehe da:


es rührt sich was !!!

na also, vielleicht gibts doch noch einen tausender weihnachtsgeld!!!

[turnplus]

http://www.deraktionaer.de/xist4c/web/Carmanah-Technologies-…

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Carmanah & Semex Establish Mexican Manufacturing
and Distribution Partnership

VICTORIA, BRITISH COLUMBIA, CANADA (January 7, 2010) -- Carmanah Technologies and Semex today announced a manufacturing & distribution partnership that will bring leading-edge solar LED lighting and solar-powered traffic beacon technology to Mexico. Carmanah and Semex have partnered to manufacture solar LED lighting and signaling solutions for outdoor lighting and traffic applications at Semex's facility in Monterrey, Mexico.

The manufacturing agreement will allow both companies to penetrate further into the outdoor lighting market in Mexico and will help them to service major clients across the country.

The partnership will combine the ingenuity of a traffic light component manufacturing company with the leading-edge technology of Carmanah solar LED lighting solutions. This will further enable the offering of high-performance solar solutions at competitive market prices helping to both accelerate the adoption of solar technology within the targeted territories and establish Carmanah and Semex as leading providers of solar LED outdoor lighting and solar traffic signaling products. With Semex's strong local presence and service capabilities, customers will be able to procure solar lighting and solar traffic products and leverage Semex's local installation and maintenance capabilities, providing customers with full turn-key products and services.

"We are pleased to partner with Semex to create a Mexican 'Powered by Carmanah' solar LED lighting solution," said Ted Lattimore, Carmanah CEO. "Semex has a long and very successful track record of traffic-oriented products and customer service capabilities in Mexico. Combined with Carmanah's outdoor solar area lighting and solar-powered traffic solutions, customers will be afforded with a broad product and service portfolio addressing both their on and off-grid requirements progressing our leadership position in this area."

Alejandro Brunell, Semex President and CEO added, "With this partnership we will be offering the best energy solutions customized to meet any power requirement of our multiple clients. Corporations and governments are becoming more educated on the importance of energy conservation and utilizing sustainable resources.

"The solar-powered LED lights that will be manufactured at our facility will offer a competitive cost-value ratio and will provide cost-effective lighting solutions using high-quality components. We are confident our partnership with Carmanah will bring enormous benefits to our clients."

Powered by Carmanah solar technology and incorporating Semex components, the solar LED lighting solutions will provide stand-alone lighting that functions completely free from electrical grid connections, providing highly reliable illumination for a variety of outdoor lighting applications including streets, parking lots and residential areas.

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January 8, 2010

This monthly update provides a quick overview on what's new at Carmanah.



December 2009 Highlights:

*
Carmanah recieves order for solar LED aviation lights to improve airfield safety in Middle East
*
Carmanah establishes Middle East manufacturing partnership with PTL Solar
*
Burnaby School District installs local Carmanah solar technology
*
"Business News Network" - Carmanah CEO Ted Lattimore video interview on The Close
* "Globe and Mail: Report on Business" - Solar industry lauds Ontario incentives


Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
twitter
For more Carmanah news updates, follow Carmanah on Twitter.

News Releases


Carmanah receives order for solar LED aviation lights to improve airfield safety in Middle East
(December 1, 2009) Carmanah has received an order valued at approximately USD $365,000 to supply solar powered elevated runway guard lights (ERGLs) to an air force base in the Middle East. The Carmanah ERGLs will provide 24-hour unidirectional flashing to aid in reducing airfield incursions at runway and taxiway intersections base.. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

Carmanah establishes Middle East manufacturing partnership with PTL Solars
(December 7, 2009) Carmanah Technologies and PTL Solar™ today announced a manufacturing partnership that will bring leading-edge solar LED lighting technology to the Middle East and selected countries in Africa. PTL Solar and Carmanah have partnered to manufacture solar LED lighting solutions for outdoor lighting applications at a facility under ENPARK in Dubai . . . http://www.carmanah.com/Company/Press_Room/Show_News_Release…

Burnaby School District Installs Local Carmanah Solar Technology
(December 10, 2009) Burnaby School District (no. 41) is outfitting two newly-constructed school buildings with rooftop solar power systems from Victoria-based Carmanah Technologies Corporation in an effort to meet sustainability objectives. . . http://www.carmanah.com/Company/Press_Room/Show_News_Release…

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Carmanah Technologies Illuminates Central Spokane, WA
Parking Lot with Solar Lighting

VICTORIA, BRITISH COLUMBIA, CANADA (January 12, 2010) -- The Spokane Public Facilities District is illuminating a central city parking lot with solar LED lighting from Carmanah Technologies (TSX:CMH). Installed as part of a new parking lot facility constructed in conjunction with the INB Performing Arts Center in downtown Spokane, the Carmanah EverGEN™ 1530 solar LED lights are providing the first LED site lighting in the city. Centrally located and easily recognizable as a sustainable energy solution, the lights are showcasing the Spokane Public Facilities District's continued commitment to going green.

In addition to reducing the city's carbon footprint, the solar parking lot lights also provide portability. Without the need for trenching or electrical grid connections, the solar lights can be picked up and moved to a different location as the Spokane Public Facilities District (SPFD) grows and site requirements change.

The SPFD, which operates the Spokane Veterans Memorial Arena, Spokane Convention Center and INB Performing Arts Center, has adopted a Sustainability Policy to operate its venues in an environmentally friendly manner, taking every available opportunity to reduce waste by conserving essential resources, recycling and using recycled materials, and utilizing renewable energy sources whenever possible. Procedures have been developed and communicated in various ways to engage all employees, clients and guests in participating in sustainable practices.

Kevin Twohig, Executive Director of the Spokane Public Facilities District, couldn't be happier with the lighting selection. "As a district we have adopted practices and procedures that actualize our Sustainability Policy. We are constantly looking for ways to better improve our venues in environmentally friendly ways and selecting solar LED lighting for the new parking lot facility was both logical and environmental."

Provided through Carmanah lighting agent Cascade Lighting in cooperation with Escent Lighting and MW Consulting Engineers, the Carmanah EverGEN 1530 solar lighting systems were chosen based on company experience and the superior performance offered by the lights.

Featuring dark-sky friendly LED fixtures by BetaLED Lighting, the Carmanah solar lights are also designed to reduce light pollution. BetaLED fixtures are recognized as incorporating some of the most advanced LED technology on the market and their bright, focused light output will provide the city with hundreds of thousands of hours of maintenance-free illumination. In combination with the solar-powered technology of the lights, the LED fixtures will allow the city to significantly reduce maintenance costs for the lights and will eliminate electricity costs for illuminating the parking lot altogether.

In addition to the cost benefits of electricity and maintenance savings, the lights will provide a portable lighting solution that stands as a continual reminder of the Spokane Public Facilities District's commitment to renewable technology infrastructure.

Carmanah EverGEN™ 1500-series street lights are available now from Carmanah Technologies. For more information on solar LED lighting, visit www.carmanah.com.

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Carmanah Partners with Hong Kong-Based JEC to
Distribute Solar LED Lighting Products

VICTORIA, BRITISH COLUMBIA, CANADA (January 28, 2010) -- Canadian solar LED technology innovator Carmanah Technologies Corporation (TSX: CMH) has entered into a distribution agreement with the Jardine Engineering Corporation (JEC), a member of Hong Kong-based Jardine Matheson Group. Under the terms of the agreement, JEC will distribute Carmanah's solar LED lighting products throughout Hong Kong, Macau, the Philippines and Thailand.

JEC is a leading provider of world-class building products and services catering to large scale projects in Asia. JEC has a strong track record in introducing innovative products and services to the markets.

The agreement will see JEC adding Carmanah's full line of solar LED aviation/obstruction, marine, roadway and EverGEN™ outdoor lighting solutions to the range of world-class, innovative and industry-leading architectural and industrial products available to JEC customers in Hong Kong and Macau. Carmanah will also work with JEC affiliates in the Philippines and Thailand to distribute Carmanah's solar LED roadway beacons and EverGEN outdoor lighting solutions in those countries.

"With today's emphasis on green and sustainable solutions, solar LED lighting for industrial and architectural applications is a welcome addition to the range of solutions offered by JEC," said Mr. Penn Yeung, Chief Development Officer of JEC. "The quality and innovation built into Carmanah's solar LED products made Carmanah a natural choice to add to our portfolio."

"JEC is uniquely positioned to bring Carmanah's solar LED lighting products to the industrial and architectural lighting markets in Hong Kong, Macau, the Philippines and Thailand," said Ted Lattimore, Chief Executive Officer of Carmanah. "We are pleased and proud that JEC has selected our Canadian company as their supplier of choice for solar LED technology. JEC's choice of Carmanah is truly a reflection of the excellent reputation that Carmanah's solar LED products have earned worldwide."

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Carmanah Lights up Polynesian Marine Facilities

VICTORIA, BRITISH COLUMBIA, CANADA (February 2, 2010) -- Docks and wharfs throughout French Polynesia are now being illuminated with EverGEN™ solar LED lighting from Carmanah Technologies (TSX:CMH). This unique installation is the result of a government initiative to increase safety and security and significantly reduce operational costs at key marine facilities throughout the Polynesian Islands.

Providing illumination for both commercial shipping and local fishing activities, over 100 EverGEN solar LED lights will be installed in remote locales that have been without lighting until now. The systems are also replacing existing solar lighting units in other areas. The installation of Carmanah technology was motivated by a desire to improve the safety and security of facility operations with a flexible and reliable lighting solution. Carmanah's extensive experience with solar LED technology, along with a continued investment in research and development efforts provided the customer with confidence in the performance and continued reliability of the EverGEN systems.
"It is thrilling to see our EverGEN solar LED lighting chosen for an installation that covers such a widespread geographic region," said Ted Lattimore, Carmanah CEO. "The confidence in our solar LED lighting systems and the progress of the technology is becoming very obvious as Carmanah is chosen more and more often to satisfy large installation requirements such as this."

Provided through authorized Carmanah partner, Yune Tung S.A. the EverGEN solar lighting systems feature dark-sky friendly LED fixtures by RUUD Lighting. In addition to bright, focused light output, the fixtures will provide the sites with environmentally sensitive illumination by reducing light pollution. In combination with the solar-powered technology of the lights, the LED fixtures will provide for a significant reduction in maintenance costs, improve the reliability of illumination in remote locations and increase the security of those doing business at key marine facilities throughout the Polynesian Islands.

The Carmanah EverGEN series is available now from Carmanah Technologies. For more information on solar LED lighting, visit www.carmanah.com.

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Carmanah Illuminates World Cup Suppy Site with
Solar LED Aviation Lighting

VICTORIA, BRITISH COLUMBIA, CANADA (February 16, 2010) -- Carmanah Technologies Corporation (TSX: CMH) has received an order valued in excess of $275,000 USD through its authorized South African distributor, Sun Solutions, to supply solar powered LED airfield lights to Waterkloof Air Force Base in South Africa (ICAO: FAWK). The Air Force Base is home to the South African Presidential Squadron and is a designated supply hub for World Cup 2010.

Sun Solutions installed Carmanah solar taxiway edge lights, solar runway end lights, solar runway threshold lights, solar taxiway edge lights, and a solar LED windsock as part of a recent large-scale airfield upgrade required by the South African Air Force (SAAF).

"Carmanah has been supplying solar LED airfield lighting to defense and commercial customers since 1998 and we very pleased to add Waterkloof to Carmanah's global customer list," said Ted Lattimore, Carmanah CEO. "Fortunately, our industry has reached the point where green technology is not only environmentally responsible, it's cost effective. A Carmanah solar LED lighting system can be installed without needing specialized work crews, trenching, digging, or disruptions to air traffic due to a lengthy construction period. The lights are also completely self-sustaining, relying only on the sun's clean, limitless energy to power them," added Lattimore.

Carmanah distributor Vincent Joubert of Sun Solutions, who oversaw the installation, agreed. "The entire installation of several hundred lights was simple, needing just a few days of labour for a small work crew. The Carmanah lights integrated with the existing systems, and only minimal training was required for the base personnel to learn to operate the lights." Joubert also attested to the reliability of the Carmanah solar LED airfield lighting system, reporting that "Waterkloof Air Force Base recently experienced an overwhelming electrical storm and we are happy to inform that the Carmanah solar lighting system was unaffected. The lights performed flawlessly."

About Waterkloof Air Force Base
The home base for the South African Air Force (SAAF) Presidential Squadron, Waterkloof is the largest operational SAAF base, fulfilling a crucial military role. Military missions include VIP transportation, reconnaissance, Aerial Refueling (AR), Electronic Warfare (EW), and Electronic Signals Intelligence (ELINT). Waterkloof is also used for humanitarian operations and can accommodate commercial air traffic. The base will see additional air and ground traffic during World Cup 2010 as it has been designated as a cargo hub for the event.

Waterkloof has an 11,000 foot (3,350 meter) runway and a secondary 6,000 foot (1,500 meter) runway used by a wide variety of military aircraft to perform daily missions. Aircraft permanently based at Waterkloof include the Dassault Falcon 900, Boeing 737-700 BBJ, Lockheed C-130 Hercules, and the CASA CN-235.

[R-BgO]

Carmanah Illuminates Public Park in Santiago, Chile

VICTORIA, BRITISH COLUMBIA, CANADA (February 23, 2010) -- A public park in Santiago, Chile is lighting its pathways with EverGEN™ solar LED lights from Carmanah Technologies. Provided through Carmanah distributor Emelta S.A., the EverGEN units are installed around a walking path that runs throughout Juan Pablo II Park in the community of Las Condes in Santiago.

Chosen for their integrated form factor and proven performance, the EverGEN solar LED lights are providing park users with an increased sense of security along the walking path and are lengthening the number of hours the park can be used each day. As part of the manicured park environment, the aesthetic form factor of the EverGEN lights is also contributing to the overall look and feel of the central city green space.

"We knew Las Condes was looking to install solar LED lighting in the park and we felt strongly that the Carmanah EverGEN was the right solution," says Carlos Hornauer, Director for Emelta S.A. "Once our client saw the aesthetic design, the focused light output of the EverGEN and the strong reputation of Carmanah products, they agreed."

Without the need for trenching or electrical grid connections, the solar lights were installed quickly without disruption to the park environment. Featuring Dark-Sky friendly BetaLED fixtures, the lights will continue to provide an environmentally friendly solution that helps the city to reduce light pollution and their carbon footprint. Easily recognizable by the public as a sustainable lighting solution, the EverGEN solar LED lights also stand as a reminder of the community's commitment to eco-friendly infrastructure.

"With increased attention on sustainable solutions, we are seeing a growing demand for solar LED lighting for outdoor applications," said Ted Lattimore, Carmanah CEO. "As was the case with this installation, Carmanah EverGEN solar LED lighting systems tend to stand out because of their aesthetics and their ability to meet light output requirements."

Carmanah EverGEN™ solar LED lights are available now from Carmanah Technologies. For more information on solar LED lighting, visit www.carmanah.com.

[R-BgO]

Carmanah and ADB Expand Partnership Globally

VICTORIA, BRITISH COLUMBIA, CANADA and ZAVENTUM, BELGIUM (March 9, 2010) -- Carmanah Technologies Corporation and ADB Airfield Solutions announced today that they are expanding their partnership agreement to include Europe, South America, the Middle East/Africa and Asia Pacific. Today's agreement links Carmanah and ADB worldwide, enabling both companies to proceed with a global partnership focused on complementing ADB's line of airfield lighting products with a range of solar powered LED airfield lights manufactured by Carmanah.

In November of 2009, Carmanah and ADB Airfield Solutions LLC (Ohio) announced a partnership to provide a line of solar LED airfield lighting in North America and the Caribbean. With sales and marketing activities well underway in this region, ADB and Carmanah will now work together to deliver an ADB-branded line of solar LED airfield lights to ADB's worldwide customer base.

As a stand-alone lighting option, Carmanah solar-powered airfield lights can be quickly and easily deployed to challenging locations where the electrical infrastructure is incomplete or non-existent. The combination of ADB LED products and Carmanah solar power management technology will also enable the deployment of fully compliant lighting systems using solar as either the primary or back-up power source. Christian Onselaere, President and CEO, ADB group said "As a total airfield lighting solutions provider, we are delighted to add Carmanah's solar LED airfield lights to our range of airfield lighting options."

In Brussels last week to formalize the agreement, Carmanah CEO Ted Lattimore commented, "ADB is the industry leader in airfield lighting technology and innovation so we are incredibly proud that ADB has chosen Carmanah as their partner for solar powered airfield lights. Carmanah's solar LED airfield lights are in use on commercial and defense airfields worldwide, and we look forward to expanding our market reach even further through our new partnership with ADB."

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Carmanah and Sabik Partner to Deliver Total Marine Lighting Solutions

VICTORIA, BRITISH COLUMBIA, CANADA and PORVOO, FINLAND (March 18, 2010) -- Marine lighting pioneers Carmanah Technologies Corporation and Sabik Oy announced today that the two organizations have joined forces to deliver a complete range of marine lighting solutions under the Carmanah/Sabik brand.

Under the terms of the agreement, both Carmanah and Sabik will expand their marine product families to include the other company's marine lighting solutions and will leverage each others' sales and distribution channels to deliver a complete range of marine lights to their respective global customer bases.

"Sabik is a leader in optical technology and communications systems, and we are delighted to partner with them to deliver total marine lighting solutions to our customers," said Ted Lattimore, Carmanah CEO. "Whether a customer is looking for a one nautical mile self-contained solar LED lantern or an 18 nautical mile range light, they will only need to reach out to a single point of contact. Anything that makes the process easier for the customer just makes good business sense," said Lattimore.

Kalevi Sarvikivi, Managing Director for Sabik said, "Carmanah's understanding of energy management is evident in the performance of their short-range solar LED marine lights, and we believe the Carmanah lights will be an excellent complement to Sabik's marine product family." Sarvikivi added that he expects future joint product development that will combine the best of Carmanah and Sabik's technology to bring new products to the marine lighting market.

Carmanah and Sabik will be exhibiting March 22-27 at IALA 2010 in Capetown, South Africa.

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Carmanah Announces Fourth Quarter and Year-End 2009 Results


VICTORIA, BC, CANADA (March 31, 2010) - Carmanah Technologies Corporation (TSX: CMH) today released its results for the fourth quarter and year-end December 31, 2009.

2009 Year Summary ($USD)

*
Sales: $31.6 million for 2009, down from from $51.9 million in 2008

- Signals & Illumination sales of $22.2 million for 2009, down from $27.9 million in 2008
- Systems & Other sales of $9.4 million for 2009, down from $24.1 million in 2008, primarily due to the 2009 exit of signage and distribution businesses

*
Gross margin: 34% for 2009, down from 35% in 2008
* Net loss: $0.6 million for 2009, compared to a net loss of $7.5 million in 2008 (including the impact of the goodwill impairment write-off of $8.7 million)
*
Adjusted EBITDA: $0.8 million of income for 2009, compared to $4.0 million income in 2008
*
Positive cash flow from operations: $5.7 million for 2009, compared to $3.0 million in 2008
*
Cash balance: $8.7 million as at December 31, 2009, up from $5.8 million at the end of 2008
*
Debt: Nil


2009 Fourth Quarter Summary ($USD)

*
Sales: $6.8 million for Q4 2009, down from $12.2 million in 2008

- Signals & Illumination sales of $5.3 million for 2009, from $8.3 million in 2008 (primarily from solar LED illumination)
- Systems & Other sales of $1.5 million for 2009, down from $3.9 million in 2008 (due to the exit of sign and distribution businesses in early 2009)

*
Gross margin: 27.4% for Q4 2009, down from 36.5% in 2008
*
Net loss: $0.9 million for Q4 2009, compared to a net loss of $8.0 million (including the impact of the goodwill impairment write-off of $8.6 million) for Q4 2008
*
Adjusted EBITDA: $0.3 million loss for 2009, compared to $2.0 million income in 2008


Summary of Results

In the face of a cautious and challenging 2009 sales environment, many steps were taken by Carmanah to assure growth in 2010 and beyond. The 2008 shift to independent channels of distribution began to take hold with the weaning out of weaker distributors and the strengthening of strategic partnerships, including new arrangements for distribution of signaling and illumination products with ADB Airfield Solutions, PTL Solar and Semex. The Company's EverGEN illumination lighting products continued to show acceptance in the marketplace and the Carmanah brand and reputation for quality in the solar powered illumination area broadened to open more doors for more partnerships.

"Our progress is step by step and strategic," says Ted Lattimore, CEO, Carmanah Technologies. "The restructuring process is complete and seeds of growth have been sown in many fertile fields during the recession. We're a stronger more sustainable company with each passing month and poised to take advantage of the improvement in the economy with our new illumination and signaling products - both in North America and abroad. Our lengthening list of EverGEN Illumination customers is providing credibility and opening the doors to more prospects that are responding to the quality and cost effectiveness of the Carmanah solar powered lighting solutions."

"Although 2009 was a challenging one, Carmanah continued to increase its cash in the bank, maintain a strong working capital position and have zero debt." said Roland Sartorius, CFO, Carmanah Technologies." This past year we completed several key internal initiatives which will generate benefits for the company in the future. Namely, we converted reporting to US from Canadian dollars to better reflect our business activities; we realigned our reporting segments; we completed the implementation of a new ERP system, on time and on budget and we completed the restructuring of Carmanah, an initiative that was announced in 2008. These allow us to now focus on executing the future growth strategies for Carmanah".

Balance Sheet Highlights

Carmanah is in a strong financial position, with cash resources, strong working capital, and no debt. The cash balance as at December 31, 2009, increased to $8.7 million from $5.8 million the previous year-end.

We anticipate that our cash and cash equivalents, short-term investments, cash flow from operations, and credit facility will be sufficient to fund future operations and capital expenditures. Our current plan is to continue to finance our planned growth through internally generated funds.

Overview of Operations

Technology and product roadmap

Starting in the latter part of 2009, Carmanah began deploying their recently released 1500 series EverGEN illumination lights to private corporations, institutions and concession holders in North and Latin America.

Carmanah's research and development investment is focused on its industrial designed solar LED lighting systems. The company's 1700 EverGEN series illumination lights is on schedule for manufacturing release and sales launch at the 2010 Lightfair Tradeshow and Conference in Las Vegas, USA, during the first half of May 2010. The new 1700 EverGEN series will incorporate the industrial design work completed by the Company's strategic partner, frog design, and will also include the foundation for future Carmanah remote wireless asset management of the lighting products.

Strategic Partnerships & Worldwide Sales

During 2009 and the first part of 2010, Carmanah entered into significant strategic marketing, distribution and manufacturing partnerships to help penetrate new regional territories, facilitating both market penetration and growth of it's lighting and signaling products.

On November 30, 2009, Carmanah partnered with airfield lighting technology provider ADB Airfield Solutions, LLC ("ADB"), the global market leader in airfield visual guidance and ground lighting systems, to provide a line of solar-based LED airfield lighting products for ADB. The arrangement will augment ADB's line of airfield lighting products with a range of Carmanah's solar-powered LED aviation lighting products.

On December 7, 2009, the Company announced a manufacturing partnership with PTL Solar in Dubai in order to bring its solar LED lighting technology to the Middle East and selected countries in Africa. This partnership will enable flexibility and responsiveness in meeting local market demands while continuing to provide high-performing solar LED lighting solutions within a cost framework the regional market expects.

On January 7, 2010, Carmanah further announced an additional regional manufacturing & distribution partnership with Semex SA, in Mexico, to manufacture solar LED lighting and signaling solutions for outdoor lighting and traffic applications at Semex's facility in Monterrey, Mexico. This partnership will combine the ingenuity of a leading traffic light component manufacturing company with our solar LED lighting solutions. This will further enable the offering of high-performance solar solutions at competitive market prices helping to accelerate the adoption of solar technology within the targeted Latin American territories. With Semex's strong local presence and service capabilities, customers will be able to procure solar lighting and solar traffic products and leverage Semex's local installation and maintenance capabilities, providing customers with full turn-key products and services.

To facilitate these partnerships with local leaders, Carmanah established a 'Powered by Carmanah' brand of solar engines, allowing it's strategic partners to leverage their assembly and fabrication strengths in conjunction with Carmanah's energy management expertise to result in a localized solar lighting product accessing the partners' regional routes to market.

Restructuring

Carmanah's restructuring initiatives were intially announced in 2008 and have been completed during 2009. This included streamlining operations by exiting some tactical businesses, reducing staff levels, closing the Victoria, B.C. manufacturing facility and outsourcing it's manufacturing. During 2008 and 2009, the company recorded a related restructuring charge of $1.4 million and $0.7 million respectively. The company believes that these restructuring intiatives have now been completed and that Carmanah is well positioned to scale up, starting in 2010. Several significant restructuring tranasactions were completed in 2009.

On February 6, 2009, Carmanah sold assets related to its illimunated road signs business for proceeds and gain of $0.7 million on the sale.

On August 17, 2009, the company sold its wholly owned subsidiary, Carmanah Signs, Inc., a LED edge-lit signs manufacturing and distribution business to a former director of the company for proceeds and gain of $1.9 million (combination of cash, shares and debt repayment) and $0.1 million respectively on the sale.

During October 2009, Carmanah announced a further 20 staff reductions across most departments to reduce labour costs. A total of $0.2 million associated with terminations was recorded in the fourth quarter of 2009. As at December 31, 2009, Carmanah had 107 staff, of which 43 are in engineering and product development.

Results of Operations

Sales

Sales for the fourth quarter of 2009 declined $5.4 million over 2008 to $6.8 million and year-to-date they declined $20.3 million over 2008 to $31.6 million. The majority of this decline is due to lower sales in the Systems & Other business lines, which declined $14.6 million over 2008 to $9.4 million year-to-date. This was due to the low margin and unprofitable product/business lines that were sold or discontinued during 2009, including the roadway signage business and distribution business. When revenues are adjusted to eliminate sales related to the exited businesses, the year ended December 31, 2009 shows sales declined by $6.8 million or 17.8% year over year. This is due to lower sales in our aviation and obstruction product sales, primarily due to the weakened global economic environment in 2009.

(in thousands US$) Q4 Fiscal
2009 Q4 Fiscal
2008 Year to date
2009 Year to date
2008
Revenues
Signals 4,008 8,127 18,900 27,046
Illumination 1,286 217 3,300 805
Sub Total 5,294 8,344 22,200 27,851

Solar Power Systems and Grid-tie 1,546 1,942 9,079 10,194
Other - 1,918 365 13,859
Sub Total 1,546 3,860 9,444 24,053

Total Revenue 6,840 12,204 31,644 51,904

The Signals & Illumination sales in the fourth quarter of 2009, representing 77.4% of total sales, were down $3.1 million compared to the same period in 2008, primarily due to a decrease in the aviation and obstruction signaling product verticals. Growth in the Signals & Illumination businesses was anticipated in 2009, but was tempered by the general global economic slowdown, which caused a number of large distributors and institutional customers to postpone orders and projects until there is more clarity surrounding the current economic picture. Carmanah has seen evidence of orders starting to be released in this sector during the first months of 2010. As well, it is expected that the recently announced distribution & marketing agreements will be fundamental in its' future growth strategy.

Gross Margin

The gross margin from our Signals & Illumination sales was 31.9% in the fourth quarter of 2009, down 12.6% from the fourth quarter of 2008. Year to date, the gross margin was 38.5%, down 8.6% from the prior year. This decrease is primarily due to reduced margins on sales of our marine, aviation, and obstruction product lines and write-offs of obsolete inventory. Going forward, we anticipate being able to maintain our margin percentages in the high thirties and low forties range as we increase our product sales mix with higher margin illumination product sales, increase lighting output efficiencies resulting from our research and development efforts and generate product cost savings from working together with our contract manufacturing partners.

Operating Expenses

Total operating expenses, excluding restructuring costs, in the fourth quarter of 2009 and year-ended 2009 decreased by $0.7 million over the same period of 2008. Year to date 2009, operating costs, excluding restructuring costs, have decreased $4.0 million over 2008, or 23.7%. This is mainly due to reduced expenses and headcount as a result of the exit of several business lines and the right sizing of staff size during 2009.

Sales and marketing expenses increased $0.2 million to $1.2 million in the fourth quarter of 2009 over the same period in 2008, primarily the result of changes to the sales force compensation plans. On a 2009 year to date basis, sales and marketing costs decreased by $0.6 million to $5.0 million over the same period in 2008, due to a net reduced salary expense resulting from the restructuring initiatives undertaken in the year.

Net research and development expenditures, after tax credits and capitalized illumination lighting development expenditures for the year-ended 2009 were $1.2 million. The net research and development expenditures during the fourth quarter of 2009 were in a credit balance of $0.2 million, which is partly due to the capitalization of certain development projects, and also due to amendments made to our prior year tax returns which resulted in the recognition of additional ITCs. The capitalization of development costs on next generation products as Intangible Assets began in the first quarter of 2009 and is expected to be completed during 2010 after which the capitalized costs will be amortized over the related products expected life cycle once they have been commercialized.

General and administrative costs declined during the fourth quarter of 2009 and year-ended 2009 declined by $0.6 million and $2.0 million respectively over the same periods in the prior year. These declines were primarily the result of reduced salaries resulting from the restructuring activities, and also from lower occupancy costs stemming from the closure of the manufacturing facility, which occurred in the prior year.

Amortization expense declined both in the fourth quarter 2009 and year-ended 2009 over the proper periods due to the elimination of Carmanah's manufacturing and distribution facilities.

During the year ended December 31, 2009, we recorded $0.7 million in restructuring charges, compared to $1.4 million in 2008. In 2009, two rounds of restructuring occurred. During the first half of 2009, the charges primarily related to the restructuring initiatives that were announced in 2008 and completed in 2009, which included the exit of some non-core business lines, and a reduction of staffing levels. The second round was announced in our fourth quarter of 2009 and primarily focused on a further right sizing of staffing levels. The related costs incurred in the fourth quarter of 2009 were $0.2 million.

Other Income/Expenses

Other income/expenses mainly relates to interest, foreign exchange gains or losses and miscellaneous non-operating items. During the fourth quarter of 2009, Carmanah recognized other income (net of other expenses) of $0.4 million, compared to net expenses of $7.8 million in the same period in 2008. These amounts primarily relate to foreign exchange translation gains and losses, while the prior year period contains an $8.6 million goodwill impairment write-off.

For the year ended December 31, 2009, the company recognized $2.2 million of other income, compared to net expenses of $7.2 million in the same period in 2008. The change year over year is mainly attributed to the goodwill impairment write-off in 2008. As well, Carmanah also incurred a foreign exchange gain of $1.4 million in both 2009 and 2008. Also included in other income is a $0.7 million gain associated with the sale of our roadway signage product line to a distributor.

Income Tax

Income tax recovery for the year-ended 2009 was $0.3 million compared to an expense of $0.6 million for 2008. This amount consisted primarily of future tax expense of $0.3 million (2008 - ($0.6) million).


Our effective income tax rate for 2009 was 58.5% compared to a statutory tax rate of 30.0%. The difference in the tax rates is primarily due to amendments made to prior year tax returns, which resulted in changes in the loss carry-forward balances and ITC amounts recognized. Our effective tax rate in 2008 was (7.9%) compared to a statutory rate of 31.0%. The difference in the tax rates is primarily due to the write down of goodwill ($8.6 million) as well as revisions to the estimated tax rates utilized.

Non-GAAP Financial Measures

For the fourth quarter of 2009, as well as the respective comparative period in 2008, Carmanah is disclosing adjusted EBITDA, a non-GAAP financial measure, as a supplementary indicator of operating performance. Adjusted EBITDA is defined as net income before interest, income taxes, amortization, goodwill impairment, restructuring charges, and discontinued operations. The non-GAAP financial measure is presented in the company's filings as they are used internally to make strategic decisions, forecast future results and to evaluate performance. Adjusted EBITDA is a non-GAAP measure and is not intended as a substitute for GAAP measures.

(US$ thousands) Q4 Fiscal
2009 Q4 Fiscal
2008 Year to date
2009 Year to date
2008

Net loss (901) (8,023) (642) (7,541)
Add/(deduct)
Interest (6) (7) (187) (75)
Income taxes 46 427 (305) 572
Amortization 278 307 826 1,255
Restructuring Charges 221 426 673 1,433
Goodwill write-off - 8,643 - 8,643
Discontinued Operations 44 265 426 (257)

Adjusted EBITDA (318) 2,038 791 4,030


Complete set of Financial Statements and Management Discussion & Analysis

A complete set of the fourth quarter of 2009 and year-ended 2009 Financial Statements and Management's Discussion & Analysis are filed on SEDAR and also available on Carmanah's corporate website as of today. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.

Fourth quarter of 2009 and year-ended 2009 conference call

The fourth quarter of 2009 and year-end 2009 results conference call being held today at 2:00PM PST (5:00PM EST) will be broadcast live and archived in the Investors section on Carmanah's corporate website. Investors and analysts are invited to participate in the conference call and are invited to call 1.866.551.3680 and provide the code 5169792#.

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April 6, 2010

This monthly update provides a quick overview of what's new at Carmanah.

March 2010 Highlights:

*
Carmanah Announces Fourth Quarter and Year-End 2009 Results
*
Carmanah and Sabik Partner to Deliver Total Marine Lighting Solutions
* Spokane Showcases Green Technology with Carmanah LED Lights
* Carmanah and ADB Expand Partnership Globally


Questions or comments? Contact Carmanah at [e-mail], or telephone [phone] (toll-free in US & Canada) or 1.250.380.0052 (worldwide).
twitter
For more Carmanah news updates, follow Carmanah on Twitter.

News Releases


Carmanah Announces Fourth Quarter and Year-End 2009 Results
(March 31, 2010) Carmanah Technologies Corporation (TSX: CMH) today released its results for the fourth quarter and year-end December 31, 2009. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

Carmanah and Sabik Partner to Deliver Total Marine Lighting Solutions
(March 18, 2010) Marine lighting pioneers Carmanah Technologies Corporation and Sabik Oy announced today that the two organizations have joined forces to deliver a complete range of marine lighting solutions under the Carmanah/Sabik brand. . .
http://www.carmanah.com/Company/Press_Room/Show_News_Release…

Carmanah and ADB Expand Partnership Globally
(March 09, 2010) ADB Airfield Solutions and Carmanah Technologies Corporation announced today that they are expanding their partnership agreement to include Europe, South America, the Middle East/Africa and Asia Pacific. . . http://www.carmanah.com/Company/Press_Room/Show_News_Release…

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Sales of Carmanah 650 Solar LED Signaling Lights Reach 7,000 Units

VICTORIA, BRITISH COLUMBIA, CANADA (April 22, 2010) With a recent order from Dubai-based PTL Solar for 1,000 units, sales of Carmanah Technology Corporation's 650 series solar LED aviation and marine signaling lights have now exceeded 7,000 units since the line's launch in mid-2009.

The recent order from PTL Solar is destined for airfields in the Middle East and will be deployed to improve airfield safety and enhance operational efficiency. The A650 has been installed in locations worldwide, including defense bases throughout the Middle East and Europe, and commercial airport installations in the Americas and Africa. Self-contained and self-powered, the A650 provides quick and easy deployment, making it ideal for expedited airfields and temporary marking of airfield obstructions. Designed to meet applicable ICAO and FAA Taxiway specifications, the versatile A650 solar LED light is in use as permanent primary lighting, temporary marking lighting, emergency backup lighting, and expedited portable lighting.

Carmanah distributor Prabissh Thomas of PTL Solar said, "In the Middle East/Africa region, airfield lights must perform reliably under incredibly harsh desert environments. With an operating temperature range of -45º to 190 ºF, the A650 is a failsafe choice for PTL's commercial and defense airfield customers."

The A650's counterpart, the M650 has also seen uptake in the marine market as a highly reliable short-range visual aids-to-navigation light.

"The 650 signalling product line has had an impressive uptake since last year's launch," says Ted Lattimore, Carmanah CEO. "We believe a large part of the interest our customers are showing in the 650 revolves around the product's rugged design, portability and ease of programming. A replaceable battery pack also extends the product's life expectancy well beyond a decade, delivering an extremely low total cost of ownership."

In addition to the success and continued growth of 650 sales through Carmanah's own global distributor network, the marine and aviation product lines are expected to achieve overall growth in 2010 thanks, in part, to new strategic partnerships. "Together with our partners ADB Airfield Solutions and Sabik Oy, we are expanding our channels to market and maximizing the potential for the growth of our entire aviation and marine signaling product lines around the world," Lattimore added.

The Carmanah 650 series solar LED lights grabbed considerable public and media attention at launch when an "extreme testing" video showing how the lights stood up to a range of hazards appeared on several industry websites. To view the video on YouTube, visit http://www.youtube.com/user/CarmanahSolar.

Carmanah and PTL solar will be demonstrating Carmanah's complete line of solar LED airfield lights at the Airport Show in Dubai, April 25-27.
For more information, visit www.carmanah.com, or telephone [phone] (toll free in US and Canada). Images are available on Flickr: http://www.flickr.com/photos/carmanahsolar/.

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Carmanah Delivers $1 Million (USD) in Solar-Powered
Perimeter Fence Lighting

VICTORIA, BRITISH COLUMBIA, CANADA (May 4, 2010) -- A power generating facility in the United States is illuminating its perimeter fencing with $1 million (USD) of solar-powered LED streetlights provided by Carmanah Technologies. The Southwestern power generating facility, which serves the electrical power needs of approximately four million people in several states, made the decision to incorporate the Carmanah EverGEN™ 1530 solar LED lighting systems as a security improvement to facility grounds. The new solar lights were selected to help underscore the power company's commitment to renewable energies and sustainable business practices while presenting an economical alternative to traditional grid-powered lighting systems. Including time and installation costs, the utility company anticipates saving an estimated $2 million (USD).

"This is the second power generating station in the US to install Carmanah EverGEN solar LED lighting technology," said Ted Lattimore, Carmanah CEO. "It is clear that the independent nature of the Carmanah EverGEN lends unique benefits to power stations especially as it pertains to the security requirements that are in place to ensure that in the unlikely event of power failure, lighting and other emergency systems continue to function. Solar LED perimeter lighting ensures continuity of service and security, independent of the grid system."

The stand-alone EverGEN 1530 solar LED light is designed specifically for industrial-scale applications such as parking lot and perimeter lighting. Featuring the LEDway™ LED lighting fixture by BetaLED™, the EverGEN 1530 solar-powered lights deliver unusually high performance and uniform distribution, and operate in accordance with Illuminating Engineering Society of North America (IESNA) guidelines. In an effort to preserve the region's nighttime sky for residents and visitors, a "dark-sky" friendly full-cutoff fixture design ensures each EverGEN 1530 delivers light on the ground while reducing or eliminating 'sky glow'.

Carmanah will be showcasing its solar LED lighting technology at LIGHTFAIR 2010. EverGEN 1500-series solar LED lights are available now from Carmanah Technologies. For more information, visit www.carmanah.com.

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Carmanah Reports Q1 2010 Results

VICTORIA, BC, CANADA (May 6, 2010) Carmanah Technologies Corporation (TSX: CMH) today announces its first quarter financial results for the three-month period ending March 2010. Sales for Q1 2010 were $8.1 million, up $0.3 million from the same period last year. First quarter Signals & Illumination sales increased to $6.4 million from $5.6 million, mainly due to a significant increase in Illumination product sales.

Highlights for the Quarter

* Sales: $8.1 million, up from $7.8 million for the same period in 2009
* Gross margin: 39.3%, up from 36.5% in 2009
* Operating costs: $3.4 million, down from $3.9 million in 2009
* Net income/(loss): $Nil, improved from $(0.2) million in 2009
* Adjusted EBITDA: $0.3 million, down from $0.4 million in 2009
* Cash flow from operations: $0.6 million, down from $0.8 million in 2009
* Cash balance: $8.3 million as at March 31, 2010, down from $8.7 million at December 31, 2009
* Debt: Continued debt-free operation

Summary of Results

Carmanah enters 2010 with momentum in the key Signalling & Illumination sectors. New product introductions and attention to specific lighting customer requirements have provided the company with revenue in these strategically important markets despite a risk-adverse industry. Emphasizing prudent and practical fiscal management, margins improved compared to the fourth quarter of 2009. The focus on strategic distribution partnerships was further strengthened with the announcement of a new partnership with Semex S.A. of Monterrey, Mexico; for the manufacturing and distribution of Carmanah traffic and illumination products within several named countries in Latin America. The Ontario, Canada Feed-in-Tariff program announcements were made during the quarter and the announcements favour some significant improvement in Carmanah Grid-tie sales in future quarters.

"Carmanah's steady state revenue performance belies the progress made in a new product introduction to the Signalling market and sales progress in the massive Illumination market," states Ted Lattimore, Carmanah CEO. "Our first quarter 2010 sales of the new 650 signals are replacing orders of the workhorse 600 series lanterns in the Signalling area at a ratio of nearly 2:1. In Illumination, our EverGEN™ 1500 series products have set yet another quarterly sales record, leading our illumination sales to a quarterly total of $1.6 million. The two new successful product lines are a result of continuous market assessment and investment in research and development. We're pleased to see the immediate positive market take-up."

"During the first quarter of 2010 Carmanah continued to maintain its strong cash and working capital position and have zero debt," said Roland Sartorius, Carmanah CFO. "With the restructuring now behind us, we are starting 2010 by executing on several growth strategies for the company while maintaining our focus to deliver bottom line results and not jeopardize our liquidity".

Sales
Sales for the first quarter of 2010 were $8.1 million, up from $7.8 million in 2009. This increase is due entirely to higher Illumination sales during this period. A summary of revenues from each of the company's Signals & Illumination and Systems & Other business segments is displayed below:

Sales

For the three months ended March 31,
(US$ thousands)

2010

2009

Change


$

Mix

$

Mix

$

%
Signals & Illumination












Signals
4,776
59%
5,381 69%
(605)
(10)%
Illumination
1,642
20%
198
2%
1,444 18%
Total
6,418
79%
5,579
71%
839
8%







Systems & Other






Solar Power Systems
and Grid-Tie
1,670
21%
1,914
25%
(244) (4)%
Other
-
0%
327
4%
(327)
(4)%
Total
1,670
21%
2,241
29%
(571)
(8)%







Total Revenue
8,088
7,820

268



Summary of EBITDA and Net Income

* Adjusted EBITDA for Q1 2010 was $0.3 million, a decrease from Q1 2009 of $0.4 million.
* Net income/(loss) for Q1 2010 was Nil, improved from Q1 2009 net loss of $(0.2) million.

Adjusted EBITDA

The company uses certain non-GAAP measures to assist in assessing its financial performance. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. One such non-GAAP measure used for assessing financial performance is Adjusted EBITDA, defined as net income before interest, income taxes, amortization, restructuring charges, goodwill, intangible impairments and discontinued operations.

Adjusted EBITDA reconciliation

For the three months ended
(US$ thousands)

March 31, 2010

March 31, 2009
Net loss
$ (16)
$ (249)
Add (deduct):


- Interest
16
(11)
- Income taxes
(18)
(96)
- Amortization
297
156
- Discontinued operations
-
136
- Restructuring charge
-
426
Adjusted EBITDA
$ 279 $ 362

Highlights During the Quarter (including subsequent events)
During this quarter, Carmanah has shown continued success in deploying EverGEN™ 1500 series outdoor area lighting products. The 1500 series was the driver of $1.6 million Illumination revenue for the quarter - another in a year-long trend of continual increasing quarterly sales of EverGEN™. In April 2010, sales began for the EverGEN™ 1700 series, designed by frog design, with a launch of a new addition to the 1700 product line planned for the May 2010 LIGHTFAIR® Tradeshow and Conference in Las Vegas, Nevada.

Other highlights during this quarter included:

* Sales of the 650 Solar LED Signaling Lights Reach 7,000 Units. Sales of the new 650 series solar LED aviation and marine signaling lights exceeded 7,000 units since the line's launch in mid-2009. (April 22, 2010)
* Carmanah and Sabik Oy partner to Deliver Total Marine Lighting Solutions. Marine lighting pioneers Carmanah and Sabik joined forces to deliver a complete range of marine lighting solutions under the Carmanah/Sabik brand. Under the terms of the agreement, both Carmanah and Sabik will expand their marine product families to include the other company's marine lighting solutions and will leverage each others' sales and distribution channels to deliver a complete range of marine lights to their respective global customer bases. (March 18, 2010)
* Carmanah and ADB Airfield Solutions expand partnership globally. ADB and Carmanah expanded their partnership agreement to include Europe, South America, the Middle East/Africa and Asia Pacific. This agreement now links Carmanah and ADB worldwide, enabling both companies to proceed with a global partnership focused on complementing ADB's line of airfield lighting products with a range of solar powered LED airfield lights manufactured by Carmanah. (March 9, 2010)
* Carmanah illuminates public park in Santiago, Chile. A public park in Santiago, Chile lit its pathways with EverGEN™ solar LED lights from Carmanah. Provided through Carmanah distributor Emelta S.A., the EverGEN™ units are installed around a walking path that runs throughout Juan Pablo II Park in the community of Las Condes in Santiago. (February 23, 2010)
* Carmanah illuminates World Cup supply site with Solar LED Aviation lighting. Carmanah, through its South African distributor, Sun Solutions, supplied solar powered LED airfield lights to Waterkloof Air Force Base in South Africa (ICAO: FAWK). The Air Force Base is home to the South African Presidential Squadron and is a designated supply hub for World Cup 2010. (February 16, 2010)
* Carmanah Partners with Hong Kong based Jardine Engineering Corporation (JEC) to distribute Solar LED Lighting Products. Carmanah entered into a distribution agreement with the Jardine Engineering Corporation (JEC), a member of Hong Kong-based Jardine Matheson Group. Under the terms of the agreement, JEC will distribute Carmanah's solar LED lighting products throughout Hong Kong, Macau, the Philippines and Thailand. (January 28, 2010)
* Dr. David Suzuki Public School powers up with Carmanah solar technology. The Dr. David Suzuki Public School in Greater Essex County District School Board of Windsor, Ontario, received a Carmanah 32 kW grid-tied Photovoltaic power system with funding provided by the Government of Ontario Green Schools Initiative. (January 20, 2010)
* Carmanah Technologies illuminates Central Spokane, WA Parking Lot with Solar Lighting. The Spokane Public Facilities District illuminated a central city parking lot with solar LED lighting from Carmanah. Installed as part of a new parking lot facility constructed in conjunction with the INB Performing Arts Center in downtown Spokane, the Carmanah EverGEN™ 1530 solar LED lights provide the first LED site lighting in the city. Centrally located and easily recognizable as a sustainable energy solution, the lights are showcasing the Spokane Public Facilities District's continued commitment to going green. (January 12, 2010)
* Carmanah & Semex establish Mexican manufacturing and distribution partnership. Carmanah and Semex concluded a manufacturing & distribution partnership that will bring leading-edge solar LED lighting and solar-powered traffic beacon technology to Mexico and Latin America. Carmanah and Semex have partnered to manufacture solar LED lighting and signaling solutions for outdoor lighting and traffic applications at Semex's facility in Monterrey, Mexico. The manufacturing agreement will allow both companies to penetrate further into the outdoor lighting market in Mexico and will help them to service major clients across the region. (January 7, 2010)


Complete set of Financial Statements and Management Discussion & Analysis
A complete set of Q1 2010 Financial Statements and Management's Discussion & Analysis are available on Carmanah's corporate website. To view full financials, visit: www.carmanah.com/Company/Investors/Financial_Reports.aspx.

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Carmanah Awarded Multiple Standing Offers Totalling
$1.2 Million (CAD) from Canadian Coast Guard

VICTORIA, BRITISH COLUMBIA, CANADA (June 2, 2010) -- Carmanah Technologies Corporation, through its marine signalling partnership, Carmanah/Sabik, has received four Standing Offers from the Canadian Coast Guard (CCG) to supply a range of solar-powered LED marine lanterns for aids-to-navigation (AtoN) lighting on Canadian waterways. The offers are for a one-year period with an optional one-year extension. Revenue in the first year from the four Standing Offers is anticipated to be in excess of $1.2 million (CAD).

A Request for Standing Offer issued by the CCG earlier this year for solar LED aids-to-navigation (AtoN) lighting sought proposals to supply 1.5, two, three and four nautical mile lanterns for use on navigational buoys and other fixed and floating navigation aids. Carmanah/Sabik products were selected to fulfill the standing orders in all four categories. Until May of 2011, and for an additional year if the extension option is exercised, authorized CCG representatives will purchase Carmanah/Sabik's M650 solar LED marine lantern for 1.5 and two nautical mile applications, the Carmanah/Sabik M704-5 for three nautical mile applications (a product already in use by the CCG), and the Carmanah/Sabik's M708 for four nautical mile applications. By authorizing its representatives to make orders as required, the CCG has displayed its confidence in the quality and performance of Carmanah/Sabik lanterns.

"Over a decade ago, Carmanah developed the very first solar LED lantern with the help of the Coast Guard and we've continued to work with maritime authorities worldwide to develop best-in-class, self-contained solar LED lights that meet the technical specifications and quality standards of the marine industry," said Ted Lattimore, Carmanah CEO. "The new Carmanah/Sabik partnership further strengthens our position in this highly technical market and expands our ability to provide the performance, reliability and functionality that customers such as CCG are looking for."

Carmanah is best known within the maritime community for its high-performance short-range solar LED aids-to-navigation lighting. A strategic partnership with Finland-based marine lighting pioneer Sabik Oy, announced in March of 2010, will allow both companies to deliver a complete range of aids-to-navigation lighting, from one to 18 nautical miles, to their respective global customer bases under the Carmanah/Sabik brand.

For more information, visit www.carmanah.com, or telephone [phone] (toll free in US and Canada). Images are available on Flickr: http://www.flickr.com/photos/carmanahsolar/.

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Carmanah Awarded $1.5 Million Solar PV Contract
by Town of Markham

VICTORIA, BRITISH COLUMBIA, CANADA (July 7, 2010): Carmanah Technologies Corp. has been awarded a $1.5 million (CAD) contract by the Town of Markham, Ontario to supply, install, and commission a 250 kW solar photovoltaic grid-tie system. The system will be installed on the Town's newly re-located Emergency Operation Centre.

The project is being funded by a combination of Markham's own capital budget money and infrastructure stimulus funds provided through a funding partnership with the governments of Canada and Ontario. Once operational, the new solar photovoltaic grid-tie system will generate revenue through the contracted sale of energy from the Ontario Power Authority (OPA) under the Feed-In-Tariff (FIT) program at a rate of $0.713/kWh. From the annual revenue received by the system under the OPA FIT contract, Markham will pay down its capital budget investment portion within the first five years of operation, the remaining 15 years of the contract revenues are proposed to be reinvested in future Markham energy projects. In concert with the revenue generation, the new system will also support Markham's long-standing commitment to renewable energies and sustainable technology.

In selecting a solar grid-tie provider for the project, Carmanah Technologies was chosen over four competing candidates. Markham's Manager of Climate Change and Energy and bid evaluation team member, Graham Seaman, comments that the decision to choose Carmanah Technologies was based on the company's experience and success in similar commercial rooftop solar grid-tie system installations. "Carmanah earned their selection by scoring more points than its competitors making it the highest ranked proponent. Based on their past experience in similar projects and by having a more qualified design and project management team than the other bidders, the choice was clear," said Seaman. Markham believes that implementing a large-scale solar project such as this will help to demonstrate its leadership in renewable energy generation and serve to increase its profile in the renewable energies field. Markham is already home to the head offices for high-tech giants Avaya, IBM, Motorola, Toshiba, Lucent, Sun Microsystems, Apple and AMEX.

Carmanah CEO Ted Lattimore says that the Company's established credibility in the Canadian solar grid-tie market has marked Carmanah as a prime contender for Ontario FIT project inclusion. "The new OPA FIT program presents a great opportunity for renewable energy companies. Carmanah's long-standing history of successful solar installations across Canada and full-service design-build capabilities position us well to support FIT projects of any scale. With more than 50 completed grid-tied solar projects across Canada, Carmanah has been at the forefront of the domestic industry for nearly 10 years."

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Carmanah Launches New Online Application for Solar LED Lighting

VICTORIA, BRITISH COLUMBIA, CANADA (July 12, 2010) -- Carmanah Technologies Corporation has launched the Carmanah EverGEN Selector Tool, a new online application to aid in the selection of solar LED lighting for outdoor, off-grid lighting applications. The tool will allow users to explore different solutions and produce full technical specifications for the Carmanah EverGEN solar LED lighting systems that fit their specific lighting applications.
"Because of the variables surrounding the selection of solar LED lighting, understanding what solar means for someone in their environment has always meant getting a solar professional involved," said Ted Lattimore, Carmanah CEO. "What we're doing is opening a new world of possibilities by taking those barriers away and making it easy for people to explore solar on their own time, at their own pace. Users can explore detailed information on solar LED lighting to better understand how the technology works or, they can go directly to the EverGEN selector tool and in a matter of five to seven minutes, have a firm answer about how EverGEN solar LED lighting will work in their environment. By providing users with a complete technical specification package that can be printed or passed along by email at the end of the process, we're also making it easy for people to share this knowledge with each other."

The new online application can be accessed at carmanah.com/lighting and is designed for those with a lighting industry background including lighting designers, specifiers and engineers. Others will find the tool and the associated technical information available on the site helpful in understanding how solar LED technology works. Carmanah EverGEN solar LED lighting systems are supported by a worldwide network of authorized Carmanah lighting agents whose contact information is easily found online for help in answering questions and in pricing projects.

How the EverGEN Selector Tool Works

The selection of a solar LED lighting system involves three separate but interdependent considerations, collectively termed an energy budget. An energy budget is determined by the geographical location of the system, the amount of light required from the system and how the light from the system is being used. The energy budget is unique to each installation scenario and in the past, those wishing to explore solar LED lighting had to go through a manual process of completing a questionnaire and waiting for a response from the manufacturer. With the Carmanah EverGEN Selector Tool, users simply go to carmanah.com/lighting and input the factors that determine their energy budget. The calculations are then run through a sophisticated database that pulls on 22 years of NASA data and within seconds users have a variety of EverGEN solar LED lighting options to choose from. The tool ensures system battery health as well, by going beyond simple energy budget calculations and taking into account how the three factors of the energy budget will effect system performance over many years. By modelling for the solar environment and how the product will perform in that environment throughout the seasons, users are provided with solar LED lighting options that are sized appropriately for the exact location and application for which they will be installed. They can also be assured that systems will provide reliable, year-round performance over the long term. More information on the technical aspects of solar LED lighting, including system modelling and energy budget considerations can be found by visiting can be found by visiting
carmanah.com/lighting.

The launch of the EverGEN Selector Tool is happening in conjunction with the launch of a newly renovated carmanah.com website. In addition to a new look, carmanah.com now provides individual landing pages for each of the markets it serves, making it easier for users to navigate directly to the information relevant to their interests.

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Carmanah Provides Solar LED Lighting for Bridge Lighting Project

VICTORIA, BRITISH COLUMBIA, CANADA (July 28, 2010) -- Carmanah Technologies Corporation is providing 26 EverGEN 1710 solar LED lighting units to illuminate the Selkirk Trestle Bridge in Victoria, BC. The units will run the length of the 300 meter long railway trestle bridge and will provide illumination for pedestrians and cyclists who use this significant commuter corridor.

The EverGEN 1710 units will incorporate Advanced Occupancy Sensing, leading edge occupancy sensing technology that is not offered by any other light on the market. Advanced Occupancy Sensing allows all the lights on the trestle to be activated when just one light senses motion. This functionality significantly increases safety and security by allowing a pedestrian or cyclist to illuminate the entire bridge by moving under just the first light on the trestle.

In addition, the EverGEN 1710 units will require no electrical connections, allowing them to install easily on the bridge and to operate free of ongoing electricity bills as stipulated in the project requirements. In addition to cost saving benefits, the units also offer environmentally friendly illumination by reducing sky glow as per Dark Sky Guidelines, and meeting Department of Fisheries and Ocean Habitat Regulations for light spill.

The installation of the EverGEN systems was initiated by a local community cooperative whose aim is to help move important community projects through to completion while supporting local businesses. The cooperative also aims to provide the basis for wider acceptance of sustainable technologies.

"The most important consideration is the benefit to the community this project will provide," said a Cooperative representative. "This project will hopefully become a model for what community initiatives can do when they are allowed to."

"We are pleased that Carmanah technology was chosen to be a part of this community-initiated project," said Ted Lattimore, Carmanah CEO. "It really speaks to the viability of solar LED lighting, not just in terms of cost-savings and contribution to eco-friendly infrastructure, but also to the appeal of the technology to communities and community organizations seeking to exhibit leadership and provide a model for other communities to follow."

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Carmanah Announces Conference Call to Discuss Signing Agreement to Acquire Lightech Electronic Industries Ltd.

VICTORIA, BRITISH COLUMBIA, CANADA (September 22, 2010) -- Carmanah Technologies Corporation (TSX:CMH), a leader in solar LED lighting and power systems for a range of industrial applications, announced on September 21, 2010, that it had signed a definitive agreement to acquire all of the outstanding shares of Lightech Electronics Industries Ltd., an Israeli corporation.

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Carmanah and Trojan Battery Enter Into Strategic Partnership
Trojan's Lead Acid Batteries to Provide Energy Storage for Carmanah's Line of Solar LED Lights


VICTORIA, BC, CANADA AND SANTE FE SPRINGS, CA (October 12 2010) -- Carmanah Technologies Corporation, Canadian manufacturer of self-contained solar LED Lighting systems for marine, aviation, traffic and off-grid lighting applications worldwide today announced a strategic partnership with Trojan Battery Company, the world's leading manufacturer of deep cycle batteries. Under the agreement, Carmanah will use Trojan's deep cycle batteries to provide energy storage for its EverGEN™ portfolio of outdoor solar LED lights.



"We are pleased to welcome Carmanah to Trojan's global alliance of renewable energy OEM partners. Trojan's high-quality deep cycle, lead acid batteries are designed specifically to meet the cycling requirements of renewable energy systems like Carmanah's solar LED lighting systems," said Bryan Godber, vice president of renewable energy for Trojan Battery.



The global market for solar lighting applications has been expanding rapidly. This partnership between Carmanah and Trojan Battery will enable customers in the growing market to take advantage of the best of both companies' central strengths thanks to a deeper technical integration of their respective products.



In solar lighting applications that depend on lighting for safety under challenging conditions, a high-quality, dependable system comprised of premium solar LED technology and superior deep cycle battery power is the key to ensure mission-critical robustness and reliable performance in all operating conditions. Moreover, using a long-lasting battery like Trojan's deep cycle products helps reduce total cost of ownership and significantly lower a system's operating costs.



"Carmanah is looking forward to working closely with Trojan to leverage our own knowledge of energy management and solar lighting system design with Trojan's understanding of deep cycling performance and optimization, to improve and enhance both Carmanah and Trojan's technologies and products for off-grid solar LED lighting," said Ted Lattimore, Carmanah CEO. "And as strategic partners we can work collectively to promote best practices for the design and application of off-grid solar lighting utilizing deep cycle batteries, and help to promote standards for this type of technology in this rapidly expanding industry."



Trojan Battery offers the broadest portfolio of high-quality, deep cycle flooded, gel and cycling AGM products available for a wide range of renewable energy and backup power applications. Built on proprietary deep cycle technology, Trojan's batteries are specifically engineered for powering clean energy applications like Carmanah's solar LED lighting systems over long periods of time. All of Trojan's batteries provide superior performance, rugged durability and long life. Trojan batteries are available worldwide through Trojan's global master distributor network.

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Carmanah announces requisition for the calling of a
special meeting of shareholders


VICTORIA, BRITISH COLUMBIA, CANADA (October 25, 2010) -- Carmanah Technologies Corporation ("the Company") (TSX:CMH), a leader in solar LED lighting and power systems for a range of industrial applications, today announced that it has received a requisition for the calling of a special meeting of shareholders of the Company from a corporation allegedly holding approximately 9.5% of Carmanah's issued and outstanding common shares. The requisition states that the business to be transacted at the meeting is to consider an ordinary resolution directing the Company not to complete its proposed financing which is necessary to complete the acquisition of Lightech Electronic Technologies Ltd., which the Company announced on September 21, 2010. The requisition also calls for the removal of the Company's Board of Directors if the Board does not agree to be bound by the results of the ordinary resolution. The Board of Directors is evaluating the requisition and will respond in accordance with applicable law.

[R-BgO]

Antwort auf Beitrag Nr.: 40.384.799 von R-BgO am 25.10.10 16:03:54

Die Akquisition ist inzwischen gestorben;

Q3 war wieder 'ne rote Null;

es zieht und zieht und zieht sich, nix wird was

[R-BgO]

VICTORIA, BRITISH COLUMBIA, CANADA (January 4, 2011) - Carmanah Technologies Corporation ("the Company") (TSX: CMH), a leader in solar LED lighting and power systems for a range of industrial applications, today announced that it has filed a lawsuit in the Vancouver Registry of the Supreme Court of British Columbia, Canada against Lightech Electronic Industries Inc., seeking restitution against Lightech in the Canadian Dollar equivalent of USD $625,000 plus interest and costs. Carmanah reserves all rights to sue for more damages at the appropriate time.

Carmanah and Lightech entered into an Agreement and Plan of Merger ("the Merger Agreement") dated as of September 21, 2010 in which Carmanah and Lightech agreed to a business combination whereby Carmanah would acquire Lightech, subject to completion of a number of conditions precedent as applicable to each party. The Merger Agreement provided that all steps and transactions required to effect the Merger Agreement be completed by December 31, 2010 (the "Termination Date") and could be terminated or abandoned by either party if the conditions precedent were incapable of being satisfied on or before the Termination Date. One condition precedent in favour of Carmanah was the successful completion of a public offering of its securities yielding an amount of at least USD $15 million. Despite Carmanah's reasonable commercial efforts, this condition precedent was incapable of being satisfied on or before the Termination Date, due to events that were not under Carmanah's control. Please refer to a press release dated October 25, 2010. As a consequence, on November 10, 2010, Carmanah gave notice of termination of the Merger Agreement to Lightech.

As part of the aggregate consideration for the merger, Carmanah made an advance payment of USD $625,000 (the "Signing Payment"). Half of this amount was paid in cash to Lightech on execution of the Merger Agreement as a payment advance (the "Advance Amount") pending the closing and subject to other terms of the Merger Agreement. The second half of the Signing Payment was transferred in trust to an interim escrow agent to be held subject to the provisions of the Merger Agreement (the "Signing Escrow Amount"). Carmanah paid the Signing Payment as specified by the Merger Agreement. Upon termination pursuant to terms in the Merger Agreement for the failure of the condition precedent, Carmanah is entitled to the repayment of the full amount of the Signing Payment.

Carmanah is seeking (i) a declaration that Lightech, is holding the Signing Payment in trust for Carmanah, (ii) an Order directing return of the Signing Payment to Carmanah, and (iii) restitution in the Canadian dollar equivalent of USD $625,000. Alternatively, Carmanah is seeking damages from Lightech in the Canadian dollar equivalent of USD $625,000 plus interest and costs. With this lawsuit, Carmanah is claiming, that Lightech has been unjustly enriched by retaining the Signing Payment following termination of the Merger Agreement. Alternatively, it is claimed that Lightech has converted the Signing Payment for its own use and deprived Carmanah of the use of these funds.

"Carmanah has always dealt with Lightech in good faith. We used reasonable commercial efforts to complete the transaction. Unfortunately, circumstances beyond our control prevented us from completing the condition precedent equity raise in the required timeline. In light of this, we have subsequently tried to conclude with Lightech on the termination remedies that were agreed to in the now stale dated Merger Agreement to no avail. We therefore regret the necessity of taking this action." said Ted Lattimore, President & CEO, Carmanah.

To view the previous press releases relating to the Lightech transaction, please visit carmanah.com.

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VICTORIA, BRITISH COLUMBIA, CANADA (January 6, 2011) Carmanah Technologies (TSX: CMH) is pleased to announce that the ADB/Carmanah team has been awarded a significant project for solar powered aviation lights at a forward operating base in Afghanistan. Valued at over $450,000 USD, the contract for award included evaluation of the ADB/Carmanah technical approach, history of performance in the field and system price.



The US DoD customer will use the lights to support NATO's International Security Assistance Force (ISAF) rotary wing aviation operations in Regional Command East. The opportunity includes threshold, caution, runway edge, and taxiway lights, along with related accessories. All airfield lights will be controlled using a wireless handheld controller and will be mounted on non-slip mobile tiles ensuring maximum flexibility for future missions or during airfield expansion or improvements. The mobile solar

lights will eliminate the expense of trenching and cable installation and will drastically reduce disruption to airfield operations during installation.



ADB Airfield Solutions and Carmanah Technologies Corporation entered into a partnership agreement in early 2010. This recent sale is another affirmation of the partnership and demonstrates the solution strength Carmanah and ADB Airfield Solutions bring to the industry by working together.

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VICTORIA, BRITISH COLUMBIA, CANADA (January 19, 2011) Carmanah Technologies (TSX: CMH) announced today the launch of the EG300-series solar LED outdoor streetlight; a new generation of solar-LED lighting systems designed to meet the specific roadway performance features required for customers in global sun-belt regions where core infrastructure development is underway, including regions such as Latin American and the Caribbean.



The EG300-series is designed to provide high lumen performance at a competitive price to support solar lighting adoption in rapidly growing non-North American markets. Operating completely free of the grid, the EG300 solar streetlight is well-positioned for markets with developing roadway infrastructure where standalone solar lighting can offer a more cost effective alternative over hard-wired lighting systems. In situations where the electrical grid is costly, unreliable or non-existent, the EG300 becomes a viable cost-saving lighting alternative; delivering the light output equivalent to a 200-watt metal halide light (used for standard streetlight settings). The EG300-series includes two product sizes which power up to two LED fixtures. These fixtures are available in standard IES distribution types, are dark-sky friendly, and feature excellent uniformity.



Complementing Carmanah's portfolio of distinctively designed solar lighting systems, the EG300-series streetlight features a streamlined form-factor that enables rapid installation and protects the system from environmental harm, including public vandalism or theft. Engineered to withstand extreme environmental conditions; including hurricane-level winds, tropical heat and humidity, and heavy precipitation, the EG300-series lights offer a reliable solution for illuminating large-scale municipal, commercial, institutional or industrial roadways and parking area applications.



Also consistent with Carmanah's solar lighting product portfolio, the new EG300-series has sophisticated lighting controls which include adaptive lighting capabilities and operating profiles that allow specifiers to tailor light output for the requirements of a specific application. Operating profiles can deliver pre-determined light levels throughout the night to match business hours or vehicle and pedestrian activity. Lighting controls and profiles ensure the lights are activated only when required, which conserves energy and allows for brighter illumination, as well as a smaller system size and overall lower total system and project cost. The EG300-series includes a limited 3 year warranty.



"The EG300-series represents the latest progression in sophisticated solar lighting technologies and leverages established strategic local partnerships to target growing non-North American markets." Carmanah CEO, Ted Lattimore, comments. The EG300-series is available immediately in Latin America, Mexico, and the Caribbean Islands. For more information, visit carmanah.com.

[R-BgO]

heimlich, still und leise bluten wir aus; jedes Jahr ein bisschen mehr...

echt schade

[R-BgO]

Carmanah Technologies Develops Solar Engine for ADB Airfield Solutions
Engine designed to power visual navigation aids wirelessly, independent from the electrical grid

VICTORIA, BRITISH COLUMBIA, CANADA (April 12, 2011) Carmanah Technologies (TSX: CMH) in partnership with ADB Airfield Solutions announce the completion of the wireless solar engine power supply (SEPS) for ADB airfield lights and visual navigation aid products. Carmanah Technologies, internationally recognized for reliable solar-powered products and ADB Airfield Solutions, the first name in aviation lighting and safety, combined forces through the development of SEPS to improve safety of flight in some of the most demanding environments on earth. Designed by Carmanah to support ADB airfield equipment in environments where the electrical grid is difficult or impossible to access, SEPS wirelessly powers those AC- and solar-powered visual navigation aids required to improve airfield and helipad safety.

SEPS incorporates new capabilities in solar technology, hardware and software to provide power and wireless control to ADB lighting and directional equipment, including the ADB Solar Wind Cone System (SWCS), Solar LED Runway Guard Light System (SRGLS) and Solar Sign Systems (SSS), among others. The engine is an ideal choice for airfields or heliports that require improved safety measures but experience difficulties with grid access or reliability. Being independent from the grid, SEPS offers reduced maintenance cycles, an easy installation and relocation, and a green, sustainable energy generating solution.

Requiring no trenching or cabling, SEPS installs quickly without the need to involve specialized work crews. A patented Energy Management Systems (EMS) monitors and adapts the engine's collection and output of energy based on environmental conditions and equipment needs. This ensures reliable and consistent operation even in poor weather - when visible navigation aids and lighting for flight and ground safety are needed most.

SEPS features an optional hand-held wireless controller which allows for remote operation with a range of up to 2.5 miles, including mode changes for enhanced visibility in poor weather conditions. One or more wireless lights and navigation aids can be remotely operated from the ground or air with a hand-held wireless controller using a secure radio transceiver with antenna and keypad.

SEPS is available through ADB Airfield Solutions at www.adb-airfield.com.

[R-BgO]

ICTORIA, BRITISH COLUMBIA, CANADA (July 20, 2011) Carmanah Technologies Corporation (TSX: CMH) is pleased to announce that it has signed its first Master Distributor Agreement with a large marine supply company, First Choice Marine Supply ("First Choice"), headquartered in Tampa, Florida. The agreement covers Carmanah's Caribbean territory.

First Choice is a large marine supply firm servicing commercial, industrial and ship chandlery markets. With a large sales force covering the United States, Caribbean, Central and South America, First Choice was a natural choice for a Master Distributor. First Choice was already a distributor for Carmanah/Sabik marine lanterns, but the move to Master Distributor status brings important changes. Going forward, First Choice will be Carmanah's exclusive distributor for the Caribbean region and will now stock higher levels of Carmanah/Sabik inventory so they can provide quicker response to end user requests for solar powered and AC powered marine aids to navigation. As the Master Distributor, First Choice will also be working with many of the previous distributors of Carmanah in the Caribbean region who will now be acting as agents on behalf of First Choice. From their various locations, First Choice will also provide technical support to end users from their various locations.

Greg Nielsen, President of First Choice Marine Supply, stated, "We are very happy to take on the responsibilities of being Carmanah's Master Distributor for the Caribbean region, and we look forward to growing our relationship with Carmanah. With our large sales force, First Choice interacts with many of the end user customers that regularly use Carmanah/Sabik products. We love the Carmanah/Sabik solar and AC powered marine lanterns and we are eager to sell the full range of marine lighting products to all of our customers."

Ted Lattimore, Carmanah's Chief Executive Officer, says, "This is a win, win, win relationship. Through this agreement, First Choice can confidently invest in growing their support and business for the Carmanah/Sabik line of products. Carmanah benefits because we can focus our support on working closely with such a large player in the marine industry while gaining the increased footprint of their large sales force. Most importantly, end customers will benefit from shorter lead times, as well as sales and technical support being offered closer to where they are located."

The agreement took effect July 15, 2011. For more information about First Choice Marine Supply, visit http://www.firstchoicemarinesupply.com/index.php.

[R-BgO]

Carmanah Settles Lightech Lawsuit to Avoid Protracted Litigation


VICTORIA, BRITISH COLUMBIA, CANADA (September 20, 2011) Carmanah Technologies Corporation (TSX: CMH), announced today that it has entered into a settlement agreement to end the $6.0 million Lightech lawsuit relating to the 2010 terminated merger agreement between Lightech and Carmanah. As part of the settlement agreement, Carmanah agreed to drop its $625,000 counter lawsuit against Lightech. Completion of the settlement agreement is subject to ratification by the Israeli courts.

Under the terms of the settlement agreement, the parties agreed to unconditionally and forever waive and release each other from any claims and/or demands they may have now, or in the future, against each other. It is also expressly provided that nothing in the settlement agreement constitutes an admission by Carmanah to any of the claims made by Lightech against it. Carmanah will forego the $312,500 investment previously made in Lightech in 2010 and, after taking into account the recovery of certain expenses, Carmanah will receive, in effect, the $312,500 currently held in escrow in Israel.

"With this settlement, we avoid the significant distraction and costs of pursuing and defending litigation in two countries", said Ted Lattimore, Carmanah's President and Chief Executive Officer. "Although we believe that the allegations against us were without merit and we were prepared to vigorously defend our position, we are pleased to be able to put this matter behind us. The settlement is a reasonable break fee as a result of the terminated merger agreement."

[R-BgO]

Carmanah Appoints Bruce Cousins as Chief Executive Officer

VICTORIA, BRITISH COLUMBIA, CANADA(October 12, 2011) Carmanah Technologies Corporation (TSX: CMH) is pleased to announce the appointment of Bruce Cousins as Chief Executive Officer and a Board Director, effective October 12, 2011. Mr. Cousins takes over both roles from Ted Lattimore, the company's CEO and Board Director since 2007.

Mr. Cousins' professional experience began in finance, having completed a Bachelor of Commerce and Chartered Accountant designation in 1987 and 1989, respectively. He has gained extensive experience in leadership and operations working for both multi-million dollar companies and in leading start-ups through to successful completion of their strategic growth plans. His 22 years of entrepreneurial and executive experience, began with a 13 year tenure with Johnson and Johnson in finance and operations. In 2004 Mr. Cousins left behind a successful career with Johnson and Johnson and joined three founders in the start-up phase of Aspreva Pharmaceuticals. Aspreva developed rapidly as a private company and in slightly more than one year Mr Cousins played a leadership role in the IPO of the company, with a successful cross border listing on both the NASDAQ and TSX. Aspreva continued to develop with market capitalization reaching 700 million dollars with operations in Switzerland, UK, US and Canada. In 2007 Mr. Cousins led the strategic assessment, resulting in the sale of the company in January 2008, delivering a 24% premium to shareholders in a 915 million dollar all cash transaction. More recently, Mr. Cousins has spent the past few years in the renewable energy industry. At Xantrex, he completed the sale in a four month period resulting in a 55% premium to shareholders; at Ballard Power he led finance and operations through a balance sheet fortification initiative.

"We are very pleased to have Bruce joining Carmanah as CEO at this point in the company's development," stated Board Chair Rob Cruickshank. "Bruce has an outstanding track record of delivering financial, operational and organizational performance, and company profitability, in the global technology industry. His wealth of knowledge, commitment to success, and experience in taking new technologies and solutions to new markets, will take Carmanah into the next phase of its strategic growth plan."
The Board thanks Ted Lattimore for his contributions to Carmanah as CEO and as a Director over the past four years and wish him well in his future endeavours.

[EasyTech]

Ist hier auch mal Besserung in Sicht? Habe mich jahrelang nicht mehr mit dem Wert beschäftigt.

[R-BgO]

Antwort auf Beitrag Nr.: 42.853.148 von EasyTech am 05.03.12 18:22:56

die Story gefällt mir immer noch (insbesondere die Rohmarge): http://www.carmanah.com/files/docs/Financials/Carmanah%20Inv…


aber bisher wars 'n Satz mit x;

andererseits hat der neue CEO immerhin 125.000 Dollar per KE in die Company gesteckt...

vielleicht wieder öfter gucken...

[R-BgO]

Carmanah Technologies Corporation and Sabik Oy Sign New Long-term Exclusive Cooperation Agreement

Enhanced Carmanah/Sabik Brand

VICTORIA, BRITISH COLUMBIA, CANADA (March 21, 2012) Carmanah Technologies (TSX: CMH) and Sabik Oy, based in Finland, have a signed a new five year Exclusive Cooperation Agreement. This agreement builds on the successful two year history of marketing and sales collaboration between the two marine signaling pioneers and initiates a period of deeper integration. Under the terms of the new agreement, reciprocal technology access as well as joint development activities will be undertaken. The combined resources of the two companies will ensure a leadership position in the marine signaling market is maintained based upon leading edge technologies. All marine signaling products will be marketed under the Carmanah/Sabik brand.

"The extended Carmanah/Sabik Exclusive Cooperation Agreement demonstrates the commitment of both companies to the marine signaling market. The new agreement builds upon the success both Carmanah and Sabik have enjoyed over the first two years of our strategic alliance. Core to this extended agreement is the further integration of our technologies. This broadened scope includes both technology sharing and joint product development," explained Bruce Cousins, Carmanah CEO. "Customers can expect the continued industry leading performance, reliability and innovation both Carmanah and Sabik are known for with the addition of increased compatibility between product offerings."

The new Carmanah/Sabik Marine alliance signals that Carmanah Technologies Corporation has moved from its roots in self-contained solar powered marine lanterns to full service marine navigation solutions. Cousins elaborated that "Sabik has developed a leadership position in marine signaling command/control and communication systems and we are extremely excited to introduce this technology within Carmanah's existing product portfolio. We remain responsive to our customers' needs; translating advances in LED, battery and communications technology into improved efficiency, convenience and cost savings for marine navigation authorities worldwide."

"The relationship between our companies has been very effective and we are delighted to move this to the next level," states Lars Mansner, Sabik Oy CEO. "Carmanah's reputation within the industry, strong distribution channel and solid technology platform form an important foundation in this partnership. Sabik advances in command/control technology will provide a meaningful enhancement in the value proposition of our combined product offering and we are excited about our combined prospects".

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VICTORIA, BC, CANADA (April 18, 2012) - Carmanah Technologies Corporation (TSX: CMH) and Laser Guidance Inc.,
a pioneer in aviation precision guidance systems, have signed a new five year Exclusive Cooperation Agreement. Under the terms of the agreement, Carmanah will have the exclusive world-wide marketing license for a portfolio of Laser Guidance aviation navigation aids including versions of Precision Approach Path Indicators ("PAPIs"), Helicopter Approach Path Indicators ("HAPIs") and Medium Intensity Approach Light System with Runway Alignment Indicator Light ("MALSR"). In addition, both companies will cooperate on a wide range of strategic development and manufacturing efforts, as well as marketing campaigns. The agreement represents a formal recognition of a long-standing successful working relationship and unites two world market leaders in complementary aviation lighting technologies. Carmanah and Laser Guidance will now be able to offer a comprehensive suite of aviation lighting solutions including a precision approach runway lighting capability.

"We are very pleased to partner with Laser Guidance," said Carmanah CEO Bruce Cousins. "There is an enormous synergy between Carmanah's offerings to the aviation community and the Laser Guidance product line. Together we provide an incredible range of airfield lighting solutions. The global movement toward more energy efficient and solar powered airfields and continuing advancements in aviation lighting technology are creating radical changes in how airfields all over the globe operate. Carmanah, our partner ADB, and now Laser Guidance are leading that change."

Dr. David Shemwell, Laser Guidance CEO, stated, "Partnering with Carmanah is a very exciting development. Both companies have led the way in research and development for decades, and each has brought new technology from the lab to the airfield with consistent, high-quality results. We believe both organizations and the aviation community as a whole will benefit from the partnership's extensive experience, market knowledge, and expanded range of products."

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Al-Babtain and Carmanah Sign Middle East Distribution Agreement


Major Power & Telecommunications Company partners to distribute solar lighting products in Middle East marketplace

VICTORIA, BRITISH COLUMBIA, CANADA (June 14, 2012) The growing demand for solar-powered lighting solutions required in the Middle East has encouraged the signing of a distribution agreement between Saudi Arabian-based power and telecommunications company Al-Babtain[http://r20.rs6.net/tn.jsp?e=0014MS-zXjOkHlmbd3od5lYGBhJGVIpD… and Canadian-based solar outdoor lighting manufacturer Carmanah Technologies (TSX: CMH)[http://r20.rs6.net/tn.jsp?e=0014MS-zXjOkHly3UkROtAok9oxfW78H…." target="_blank" rel="nofollow ugc noopener">http://r20.rs6.net/tn.jsp?e=0014MS-zXjOkHly3UkROtAok9oxfW78H…. The agreement will allow for the locally supported sale and distribution of Carmanah's EG-series[http://r20.rs6.net/tn.jsp?e=0014MS-zXjOkHnMiVxFXs9gX2m-Sso3_… solar outdoor lighting portfolio in select countries of the Middle East by an existing leader in power, telecommunications, outdoor lighting and infrastructure solutions. The EG-series is a stand-alone, solar-powered outdoor lighting solution that is optimized to perform reliably in arid, desert conditions that include high ambient temperature and intermittent sandstorms.

Al-Babtain, active in the area of outdoor lighting, transmission and distribution, telecommunications, structural steel and galvanizing services, supplies solutions for local and international markets. The company emphasizes strength in its design and manufacturing capabilities and in meeting international standards, maintaining production bases in Riyadh, KSA, and Cairo, Egypt and Troyes, France. As an established infrastructure provider, the agreement inducts Carmanah EG-series products into a large sales channel network and provides access to locally-sourced outdoor lighting poles, which Al-Babtain manufactures in its facilities certified to ISO 9001 standards.

In an initiative to invest in the growing market for renewable solar lighting in the region, Al-Babtain identified a number of solar outdoor lighting manufacturers to support their direction. According to Wissa Hennawy, CEO of Al-Babtain, "We selected Carmanah Technologies as the provider of solar outdoor lighting systems as a result of the company's internationally-recognized brand and consistent reputation. Our commitment to quality and reliability and as a reputable manufacturer of power and telecommunication is mirrored in Carmanah's history of reliability and performance."

Under the terms of the agreement, Al-Babtain will pursue sales and distribution of Carmanah EG-series products in market sectors including, but not limited to, highway/roadway, area and path/pedestrian lighting applications.

"With the signing of this agreement, Carmanah has an opportunity to make significant breakthroughs in several key market segments in these regions," comments Bruce Cousins, Carmanah CEO. "In particular, our efforts to grow in high light-output arenas including highway and freeway applications are dramatically strengthened in this partnership."

For more information about Carmanah solar outdoor lighting products, visit www.carmanah.com[http://r20.rs6.net/tn.jsp?e=0014MS-zXjOkHly3UkROtAok9oxfW78H… or contact us today at [e-mail][mailto:[e-mail]].

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Carmanah Closes Acquisition of Spot Devices

http://finance.yahoo.com/news/carmanah-closes-acquisition-sp…

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mal was Neues:

VICTORIA, BRITISH COLUMBIA, CANADA (February 28, 2013) Carmanah Technologies (TSX: CMH) announced today that it has entered into a supply agreement with Acuity Brands, Inc. (NYSE: AYI), a leading provider of LED lighting and lighting controls. The agreement provides for the supply of Carmanah’s commercial-grade solar outdoor light engines for integration into certain luminaires produced by Acuity Brands.

“Acuity Brands has been monitoring the continual improvement in photovoltaic technology and the steady increase in LED lighting efficacy and believe these technologies collectively have hit a tipping point.” says Jeff Quinlan, Acuity Brands Lighting Vice President, New Products and Technology. “Carmanah was competitively selected from a list of North American solar lighting manufacturers, distinguishing themselves on the basis of product reliability and a broad-based capability in solar power. This is an exciting new relationship for Acuity and we look forward to our planned launch of a solar-powered lighting solution.”

“Carmanah is excited about the collaboration and pleased to see a market leader like Acuity Brands embracing solar power solutions,” says Bruce Cousins, Carmanah Technologies CEO. “The technology performs to high international standards, is economically viable versus conventionally powered lighting options, and combined with other benefits such as grid-independence, presents a compelling value proposition to customers.”

Carmanah will continue to market and support Carmanah-branded outdoor lighting solutions through its existing channels.

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Carmanah Reports Fourth Quarter and Fiscal Year 2012 Results
Q4-2012 revenue of $8.4 million underpins positive adjusted EBITDA

VICTORIA, BC, CANADA (March 14, 2013) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its fourth quarter and fiscal year financial results for the period ended December 31, 2012.

For the quarter-end December 31, 2012, the Company recorded revenue of $8.4 million and a net loss of $0.7 million, including approximately $0.4 million of one-time charges related to acquisition and restructuring activities. Adjusted EBITDA for the quarter was slightly positive at $8 thousand. Q4 2012 reflects the strongest revenue quarter in 2012, reflecting a 17% increase versus prior year quarter and marks the significant recovery of our Solar EPC Services segment.

For the year end December 31, 2012 the Company recorded revenue of $26.4 million and a net loss of $3.9 million. Revenue results for the year reflect a decline of $9.5 million year on year. The significant decline in revenue relates to soft first half year performance, heavily impacted by uncertainties in the Ontario FIT program negatively impacting our Solar EPC Services segment. These uncertainties were resolved mid-2012, with second half 2012 sales up 31% versus the first half of the year. Net loss improved $4.6 million year on year. Improvement in net loss relates to non-recurring charges in 2011 related to the write-down of tax assets.

“Revenue performance in the quarter reflects our strongest quarter in 2012, and adjusting for one-time charges delivers positive EBITDA in the business. One-time charges relate to restructuring and acquisitions undertaken late in the year to further strengthen execution and protect positive cash flow in the business. Unfortunately, revenue shortfall experienced in the first half 2012 was not recovered in the second half, with overall year on year results disappointing” stated Bruce Cousins, Chief Executive Officer, adding “A tough year for CMH and disappointing overall financial results. However, a strong fourth quarter and significant foundational progress made in the year. Momentum is building and I believe we are poised for a much stronger 2013.”

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Carmanah’s Go Power! Group Starts 2013 with a Strong Canadian Booking Program Performance, Worth $875,000 CAD

http://finance.yahoo.com/news/carmanah-power-group-starts-20…

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US Marine Corps Selects Carmanah Solar Runway and Taxiway Lights

http://finance.yahoo.com/news/us-marine-corps-selects-carman…

Canadian Forces Chooses Carmanah Solar Airfield Lights

http://finance.yahoo.com/news/canadian-forces-chooses-carman…

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Major Civil Airport Outfits Entire Airfield with Carmanah Solar

http://finance.yahoo.com/news/major-civil-airport-outfits-en…

Carmanah Awarded Commercial Rooftop Solar Projects Valued at Approximately $2.0M

http://finance.yahoo.com/news/carmanah-awarded-commercial-ro…

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Carmanah Reports First Quarter 2013 Results

http://finance.yahoo.com/news/carmanah-reports-first-quarter…

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Carmanah M800 Series Sets New Standard for Solar LED Marine Lantern Performance

http://finance.yahoo.com/news/carmanah-m800-series-sets-stan…

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Carmanah Receives Solar Outdoor Lighting Purchase Orders Valued at $1.5M USD


VICTORIA, BRITISH COLUMBIA, CANADA (January 21, 2014) Carmanah Technologies Corporation (TSX: CMH) today announced that it has received purchase orders from a single customer for $1.5M USD for solar outdoor lights and hardware. Carmanah is making this disclosure as it has determined that these orders are material in the context of applicable securities regulations and as such require timely disclosure.

These solar lighting systems have been ordered for use in street lighting applications outside of North America. The purchase orders will be filled in two stages with the first order scheduled for shipment in the first quarter of 2014. The following order is expected to be confirmed and ship in the second quarter of 2014.

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Carmanah Agrees to Purchase SOL Inc. in a Share Exchange Valued at ~$7.5M


VICTORIA, BRITISH COLUMBIA, CANADA (March 21 , 2014) Carmanah Technologies Corporation (TSX: CMH) and SOL, Inc., a privately-owned Florida-based company, today jointly announced that Carmanah has entered into a binding Letter of Intent with SOL, Inc. and Michael Sonnenfeldt. Mr. Sonnenfeldt is a director of Carmanah and the controlling shareholder of SOL. Under the terms of the Letter of Intent, Carmanah has agreed to buy all outstanding shares of SOL owned by Mr. Sonnenfeldt and the parties intend to take the necessary steps to ensure that all other owners of SOL shares prior to closing enter into a definitive agreement to sell their shares to Carmanah. As a result, upon completion of the transaction, SOL will become a wholly-owned subsidiary of Carmanah.

“As solar efficiency improves and LED lighting technology advances, we believe an increasing share of the outdoor lighting market will turn to solar,” said John Simmons, CEO of Carmanah. “Our acquisition of SOL, which has a long history and broad capability in solar lighting, turns our belief into commitment.

The total consideration payable by Carmanah to acquire all of the shares of SOL consists of:
38,163,176 common shares of Carmanah, which would be issued from treasury; and
a royalty pursuant to which Carmanah will agree to pay to the former shareholders of SOL an amount equal to 3% of total revenues received by Carmanah in respect of certain specified prospective sales by SOL, provided each identified project must result in US$5.0 million in revenue to Carmanah before any amounts are payable to the former SOL shareholders and subject to a number of other conditions.
Based on Carmanah’s current trading price, the total value of the transaction is approximately CAD$7.5 million. Carmanah will acquire SOL on the basis that it has no debt and no excess cash above a specified level of required working capital. The definitive agreement for the transaction will contain customary representations, warranties, covenants and indemnities.

“For more than 20-years SOL has provided best-in-class solar lighting solutions to customers in more than 60 countries around the world,” said Dibs Tailor, CEO of SOL. “Our acquisition by Carmanah begins an exciting new chapter for us. Our combined product portfolio, technical resources and sales reach will enable us to better serve customers and make us a very formidable competitor in this high growth market.”

Completion of the transaction is subject to a number of conditions including: (a) satisfactory completion of due diligence by both parties; (b) absence of any change in the affairs of SOL or Carmanah that would have a material adverse effect on the relevant entity or its business; (c) approval of the transaction by the board of directors of Carmanah; (d) execution of a definitive agreement pursuant to which Carmanah will be entitled to acquire 100% of the outstanding shares of SOL; and (e) receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the approval of shareholders of Carmanah at the annual general meeting currently scheduled to be held on or about May 8, 2014. There can be no assurance at this point that all such conditions will be satisfied and, in the event any conditions are not satisfied or waived, the transaction would not be completed. If all conditions are satisfied or waived, the transaction is currently expected to close in May, 2014.

As Mr. Sonnenfeldt is a majority owner of SOL, and a significant shareholder of Carmanah, this transaction is considered a “related party transaction” for purposes of applicable Canadian securities laws and accordingly Carmanah appointed an independent committee of its directors to oversee the negotiation and review of the proposed transaction. The details of that review, a description of the results of an independent valuation commissioned as part of their review and other details on the reasons for the independent committee’s recommendations with respect to the transaction will be contained in the information circular for the shareholders’ meeting at which shareholders of Carmanah will be asked to approve the transaction. Mr. Sonnenfeldt will not be entitled to vote any shares of Carmanah which he owns in respect of the resolution to approve the transaction.

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nachdem sie bis heute überlebt haben,

will ich mal auch die WKN-Änderung nach letztjährigem reverse-split nachvollziehen:

neuer Thread: Carmanah Technologies Corporation