Victoria, British Columbia CANADA, December 22, 2011 /FSC/ - Carmanah Technologies Corporation (CMH - TSX), a world leader in solar-powered LED lighting systems and solar power systems, has been recognized as one of the top 25 highest performing technology companies in 2011 by the Victoria Advanced Technology Council (VIATeC).
The VIATeC 25 is an annual listing of the largest technology companies headquartered or founded in Greater Victoria. The companies, which are selected on the basis of revenue performance, are responsible for creating almost 3000 jobs and represent nearly $1 billion in combined revenues. The award celebrates the health of the Vancouver Island technology sector and its impact on the local economy and community.
According to VIATeC executive director, Dan Gunn, the award also serves as a barometer for the entire technology industry.
"We're honoured to be recognized as one of Victoria's top 25 technology companies. Victoria is host to a thriving technology sector which we are proud to be a part of," states Roland Sartorius, CFO of Carmanah Technologies.
2011 marks Carmanah's eighth consecutive year on the VIATeC top 25 list.
VIATeC is a nonprofit society of members representing the local advanced-technology community. The VIATeC 25 is an annual listing of the largest technology companies headquartered or founded in Greater Victoria, based on revenue, and is sponsored by KPMG and Farris Vaughan Wills & Murphy LLP.
About Carmanah Technologies Corporation
As one of the 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 solar LED lights and solar 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". For more information, visit www.carmanah.com.
For further information:
Investor Relations: Roland Sartorius
Public Relations: David Davies
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. For additional information on these risks and
uncertainties, see Carmanah's most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company's website at www.carmanah.com. The risk factors identified in Carmanah's AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.