Carmanah Technologies Inc fka CMH

[otterman]

Carmanah Awarded $1.8 Million (CAD) Contract to Outfit Ontario Elementary Schools with Solar PV Systems

Tuesday, May 10, 2011

VICTORIA, British Columbia (Business Wire) -- Carmanah Technologies Corporation (TSX: CMH) (Pink Sheets: CMHXF) has been awarded a contract valued at approximately $1.8 million (CAD) to provide solar grid-tied PV systems for two elementary schools in Southern Ontario. Architects and planners for both schools considered the integration of a solar PV system early in the building's design process. This, in combination with the School District's continued support of sustainable energy and available funding through the Renewable Energy Funding for schools program, contributed to the District's decision to adopt the two solar PV systems. Carmanah was awarded both contracts based on the Canadian technology company's successful history in the solar PV industry. This year, Carmanah celebrates its 10-year anniversary in the Canadian solar grid-tie industry.

As part of the Ministry of Education's Energy Management and Conservation Initiative through the Renewable Energy Funding for schools program, the School Board will construct two facilities in Grimsby, Ontario. While offering immediate benefits such as reducing energy consumption, each integrated solar power system will generate revenue for the district through the Ontario Power Authority Feed-In-Tariff Program.

Each school will be outfitted with a 100 kW rooftop system, consisting of more than 500 solar modules as well as a web-enabled data monitoring system where the collected information will be accessible for educational purposes. The grid-tie PV structure will be incorporated into the sloped infrastructure of the building with the arrays large enough to be seen from ground level. Once installed, the new system will showcase the School District's movement towards alternative energy solutions.

Carmanah has a history of successful solar projects with schools across Canada. Ted Lattimore, Carmanah CEO said, “we are encouraged by the direction school districts are taking with regards to sustainable energy saving initiatives, such as the investment in a solar grid-tie system.”

Over the last decade, Carmanah has installed and designed solar PV systems for various public and private schools and has partnered with the Ministry of Energy and Mines in British Columbia on the BC Solar for Schools pilot project – a program designed to teach students about the potential of alternative energy and climate change. These recent projects in Ontario will mark the Company's 10th assignment as the Engineering Procurement Construction (EPC) contractor with a Canadian elementary or secondary school.

For more information on this or other solar grid-tie applications within Canada, contact Richard Wayte at [e-mail], or visit the Company's website at www.carmanah.com.

About Carmanah Technologies Corporation

Carmanah Technologies Corporation is a global provider of renewable and energy-efficient technologies. From its headquarters in Victoria, British Columbia, Canada, and office in Toronto, Ontario, the company's Grid-Tie division oversees the design, supply, and installation of solar photovoltaic grid-tied systems for commercial, industrial and institutional applications. As one of the most trusted names in solar technology, Carmanah has installed more grid-tie solar power systems than any other integrator or EPC contractor in Canada, including the City of Toronto Police Services building, the Toronto Parking Authority, the David Suzuki Public School, 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). 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.

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.




Carmanah Technologies Corporation
Investors:
Investor Relations: Roland Sartorius
Toll-Free: 1-877-722-8877
[e-mail]
or
Media:
Public Relations: David Davies
Tel: [phone]
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110510&archive=bwire&slug=20110510005486

[otterman]

The elusive .60 is hit this morning.

[otterman]

G&M, a Canadian national newspaper which runs an analyists review has this as a strong buy with a .90 target price (currently .59). The stock is seeing buying in the last 2 months and has put out a number of news items in the last week.

http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=CMH-T

[Ed Monton]

CMH

[timhyma]

Carmanah Technologies unveils world's first self-contained, GPS-synchronized solar LED marine light
Tuesday August 17, 7:01 am ET


VICTORIA, BC, Aug. 17 /PRNewswire-FirstCall/ - Carmanah Technologies Inc. (TSX Venture: CMH - News) the award-winning leader in solar-powered LED lighting solutions, is pleased to announce the release of the world's first completely unitized, GPS-synchronized marine light - a three nautical mile navigation light that coordinates with GPS time signals to allow any number of units installed anywhere in the world to flash in perfect unison.
"For many applications, GPS-synchronized lighting makes marine navigation easier by offering improved visibility and clearer delineation of waterways and navigational hazards," said Carmanah's CEO, Art Aylesworth. "Building GPS into our solar-powered LED lighting systems is one of our most significant technological innovations to date, markedly enhancing the potential applications in our core marine market."

Carmanah's new Model 701-GPS and 702-GPS marine lights use Global Positioning System (GPS) satellite signals as a timing tool. Each of the 24 orbiting GPS satellites has several on-board atomic clocks transmitting a time signal that is accurate to within 0.5 nanoseconds of Universal Time (UTC). Built-in GPS receivers in Carmanah's lights require only one satellite signal to precisely synchronize the beginning of each flash sequence to this time code, thereby perfectly matching the timing of any other GPS-synchronized light. Multiple lights outlining features such as port entrances, channels and navigational hazards are easier to follow and to distinguish amidst background lighting when they flash together.

Originally designed and built under contract with the U.S. Coast Guard and meeting the rigorous standards of the International Association of Lighthouse Authorities (IALA), the 700 Series are the first solar-powered lanterns using light-emitting diodes (LEDs) approved for use in the U.S. Navigational Aid System. Self-contained, waterproof and compact, the 700 Series are the next-generation replacement for traditional 155 mm 0.25 amp/0.5 amp navigation lights. They are used around the world for any marine application requiring a marker light of three nautical miles (5.4 kilometers) of visibility.

Requiring no external wiring or power source, Carmanah lights install in minutes and pay for themselves within one year through reduced installation and maintenance costs. They operate maintenance-free for five to eight years before battery replacement. Carmanah's patented MICROSOURCE(tm) electronics control light output and charging for unparalleled performance in the greatest possible range of environmental conditions, even at latitudes above 55 degrees.

Carmanah is an award winning alternative energy manufacturer specializing in patented solar-powered LED lighting solutions for the marine, aviation, transit, roadway, railway and industrial worksite markets. The Company currently has more than 100,000 units installed in 110 countries.

For more information visit www.solarmarinelights.com.

Contact: David Davies at [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.




--------------------------------------------------------------------------------
Source: Carmanah Technologies Corporation
http://biz.yahoo.com/prnews/040817/to228_1.html

[timhyma]

I was just teasing ya- since you started the board, lol.

[please_no_hype]

What, are you kidding? Have you looked at the chart lately? Yee-haw!

[timhyma]

These folks still around? No post since last Jun, lol. Can someone update the ibox <g>.

[Ed Monton]

Canaccord has initiated coverage of Carmanah

INITIATING COVERAGE
CARMANAH TECHNOLOGIES CORP. (CMH : TSX-V : C$0.96) – BUY - 12-MONTH TARGET
PRICE: C$1.25
Sara Elford, CFA/
Comment: Initiating coverage of Carmanah Technologies with a BUY and a
$1.25 target price
Carmanah is an emerging growth company that integrates LEDs, solar panels
and rechargeable batteries into a patented unitized lighting solution.
Carmanah’s lighting solutions annual costs are 85-95% less than
conventional products. We expect Carmanah to deliver impressive sales
growth over the next few years – from $6.5 million in 2002 to $25.0
million by 2005 (CAGR of 57%). At the same time, we expect its net margin
to move from roughly breakeven in 2002 and 2003 to a steady state of 9.9%
by 2005 and beyond. Using a P/E multiple of approximately 20 times (a PEG
ratio of 0.20) our 2004 estimate of $0.06, we are initiating coverage of
Carmanah with a BUY rating and a one-year target price of $1.25 – 30%
above the recent close. In our view, this is a microcap story that offers
risk-tolerant investors a high probability of success at a still
reasonable valuation.

[eddyb]

The health of Carmanah Technologies seems to be a concern, and as an investor i have noted a few discrepancies in their financial statements.

I would be grateful if anyone can comment on the following points;

1. Their 4th quarter results are not listed. The company posted a loss of $48,528 for the 1st quarter 2002. The 2nd and 3rd quarters saw profits of $31,140 and $43,472 respectively. Final year profits give a total of $36,393. Simple math on these amounts tell us that the 4th quarter profits only reached $10,309, 75% down on Q3 - yet had a seemingly greater turnover. Furthermore, the company has included in their summary of results a figure of $51,364 for interest income - does this mean that if they weren't receiving interest on unused shareholder funds they would have posted another loss?

2. A bank loan of $140,000 has appeared in the financial statements which wasn't their last time. Even with a claimed $500,000 grant and another private placement, the company still ran so short of money they needed a bank loan?

3. CMH also claims a large % of their turnover comes from a successful online shopping cart. This should provide high profit margins and good cash flow through credit card transactions, yet the high accounts receivable doesnt reflect this. Also, is their a provision for bad debts, or is trading on a 30 day money back guarantee simply inflating sales figures?

Any comments would be appreciated.

Regards, EB

[please_no_hype]

Thanks, excel. They might be Carmanah signs, but that is one of the target markets that they are just entering so they might be from another manufacturer. CMH is well established in the Marine market, with approvals from the USCG and the Canadian CG. They are an approved vendor to the US Govt, which means that agencies can purchase CMH products up to $100K without putting out to bid. The USAF purchased > $90K worth of aviation lights recently...for somewhere in the Middle East, apparently. Transit looks like it is potentially a very large market. CMH has sold field trial quantities to 20+ North American municipalities. You can see the i-Stop featured in the Atlanta Transit Authority's literature:

http://www.itsmarta.com/getthere/73.pdf

Most significant are the field trials currently underway in London:

http://www.londontransport.co.uk/buses/pdfdocs/pn533 - Solar Power Factsheet.pdf

There is a 3 year, $12-18MM opportunity there and CMH is one of the two vendors still standing. From what I have heard, they are likely to get at least some of that business. Perhaps quite a bit. We will see.

As I see it...we can start making the transition right now. Or we can wait until it is too late and feel sorry about it...

[excel]

Not sure who manufactures them. But we have a few road signs around here that have small solar panels above them.
Good to see.
My wish is for all types of solar power to grow.
I just wish our government would push it more.
More R&D tax breaks.
Good luck with your investment here.

[please_no_hype]

Thanks guys, I am not sure how it got where it was, I thought I had put it in Canadian - Miscellaneous, but Electronics and Components is okay with me too.

[Mattu]

I moved it. This category is pretty close, I think.

[Ed Monton]

please_no_hype

You've located the board in the wrong spot. I've made the same mistake before. If you go to the question and answer and ask Matt he will relocate it to the proper place (Canadian - Miscellaneous ??). Good luck with the thread.

tf

[please_no_hype]

Welcome to the iHub message board for Carmanah Technologies. Carmanah is a small company that has big ideas for a newly emerging space - solar-powered LED lighting solutions. Carmanah has been developing this technology since the mid-90's and has succeeded in winning US Coast Guard and Canadian Coast Guard approval for their marine lighting products. Other applications include transit (bus stops and shelters), roadway hazard lighting, railway, aviation and landscaping. The company did about $6MM in revenues in 2002 and plans to do about $10MM in 2003. The company is profitable and plans to be in every year going forward. See the company web site for complete information...http://www.carmanah.com.