Etrion and Hitachi High-Tech Announce Closing of Project Financing to Build 34 MW of Utility-Scale Solar Projects in Japan Sep 1, 2014 10:00PM

GENEVA, SWITZERLAND and TOKYO, JAPAN -- (Marketwired) -- 09/01/14 -- Etrion Corporation ("Etrion") (TSX: ETX)(OMX: ETX) and Hitachi High-Technologies Corporation ("Hitachi High-Tech") (TSE: 8036), a subsidiary of Hitachi, Ltd. ("Hitachi") today announced the planned construction of 34 megawatts ("MW") in Japan with financing arranged by Sumitomo Mitsui Trust Bank, Limited ("SuMi Trust").

Marco A. Northland, Etrion's Chief Executive Officer, commented: "I am honoured to be working alongside Hitachi High-Tech and SuMi Trust in Japan. Japan is one of the largest solar photovoltaic ("PV") markets in the world and having strong local partners has been instrumental in enabling us to succeed in this exciting market. Etrion is one of the first foreign Independent Power Producers ("IPPs") to secure financing to build utility-scale solar plants in Japan and we are now well positioned to replicate this model with Hitachi High-Tech to accelerate our growth plans. These projects expand Etrion's geographic footprint providing a clear diversified platform for growth bringing Etrion closer to its objective of being in a position to declare dividends in the future."

Hidenori Nagao, Hitachi High-Tech's Vice President and Executive Officer and General Manager of Global Trading Group, commented: "It is our great honour to launch business in Japan's emerging solar market with Etrion, who has a proven track record in the solar industry. These projects will be built with our proven technical capabilities in engineering, procurement and construction ("EPC") using Hitachi's highly efficient and reliable solar PV power generation systems. Hitachi High-Tech, together with Etrion, are targeting a total of 100 MW by 2015 and a total of 300 MW by 2017, including these first two projects."

Kengo Noguchi, SuMi Trust's Executive Officer and General Manager of the Structured Finance Department, commented: "We are very proud to partner with Etrion and Hitachi High-Tech in developing their first two solar projects in Japan. SuMi Trust is committed to supporting the country's shift to clean energy and we look forward to assisting Etrion and Hitachi High-Tech as they execute their growth plans, bringing more solar projects into the energy mix in Japan."

Shizukuishi Solar Project (24.7 MW)

Shizukuishi is a 24.7 MW utility-scale solar PV power plant to be built in the Iwate Prefecture of Japan. Construction-related works are expected to commence in October 2014 and the solar project is expected to be operational by the end of 2016. The solar power plant will be built on 51 hectares of leased land and the facility will connect through the Tohoku Electric Power Co., Inc. utility ("Tohoku Electric Power utility"). The project will enter into a power purchase agreement ("PPA") with the Tohoku Electric Power utility to receive yen 40 per kilowatt-hour ("kWh") produced (approximately US$0.39 per kWh).

Once operational, Shizukuishi is expected to produce approximately 25.6 gigawatt-hours ("GWh") of solar electricity per year.

Mito Solar Project (9.3 MW)

Mito is a 9.3 MW utility-scale solar PV power plant to be built in the Ibaraki Prefecture of Japan. Construction is expected to commence in September 2014 and the solar project is expected to be operational by the end of 2015. The solar power plant will be built on 27 hectares of leased land and the facility will connect through the Tokyo Electric Power Company utility. The project will enter into a PPA with the Tokyo Electric Power Company utility to receive yen 40 per kWh produced (approximately US$0.39 per kWh).

Once operational, Mito is expected to produce approximately 10.3 GWh of solar electricity per year.

The total project cost for both projects will be financed approximately 80% through project debt from SuMi Trust with an 18-year tenor. The remaining approximate 20% equity portion will be funded by Etrion and Hitachi High-Tech based on their respective ownership interests of approximately 87% and 13%.

These projects will be built by Hitachi High-Tech using the proven EPC capabilities of Hitachi. Hitachi High-Tech will provide highly efficient PV generation systems that incorporate Hitachi's power conditioning systems (maximum efficiency: 98.8% at the world's highest standard / maximum direct current voltage input: 1,000 volts) and their amorphous transformers which are more efficient in practical load and can reduce standby power loss by 70% compared with Hitachi's conventional silicon-steel-cored transformers. Operations and maintenance ("O&M") services will be provided by Hitachi High-Tech through a long-term fixed-price agreement for each project.

Japan is one of the largest solar PV markets in the world with over 14 gigawatts ("GW") of installed capacity with a national solar power target of 28 GW by 2020.

In 2012, Etrion and Hitachi High-Tech signed a development agreement to develop a pipeline of solar assets in Japan. Under this agreement, both parties provide the key functions necessary to successfully develop, build and operate solar projects in Japan (including, but not limited to, obtaining the relevant permits and authorizations to build and operate the solar power facilities, developing relationships with local utilities and land owners, performing the EPC-related services and providing O&M and asset management-related services). Shizukuishi and Mito are the first solar projects to be built under this arrangement and the companies are targeting to reach 100 MW by 2015 either under construction or shovel-ready.

About Hitachi High-Tech

Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan, is engaged in a broad range of fields, including Electronic Device Systems, Fine Technology Systems, Science & Medical Systems, Industrial & IT Systems, and Advanced Industrial Products. The company's consolidated sales for 2013 were more than US$6.2 billion. Additional information is available at: www.hitachi-hitec.com/global

About Etrion

Etrion Corporation is an independent power producer that builds, owns and operates utility-scale solar power generation plants. Etrion owns 17 solar power plants in Italy with approximately 60 MW of installed capacity and has a 70 MW solar project in Chile under construction that is expected to be operational by the end of 2014. Etrion is also actively developing greenfield solar power projects in Chile and Japan. The Company is listed on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm exchange in Sweden under ticker symbol "ETX". Additional information is available at: www.etrion.com

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Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act. The information was submitted for publication at 4:00am Central European Time (CET) on September 2, 2014.

Forward-Looking Information:

This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Etrion and/or Hitachi High-Tech believe, expect or anticipate will or may occur in the future (including, without limitation, statements relating to their anticipated plans to build, operate and finance the Shizukuishi and Mito solar projects, including, without limitation, the anticipated construction and operation start dates, the terms and methods under which the solar projects will be built and operate and the anticipated amount of solar electricity power to be produced from the solar projects and statements related to Etrion's and Hitachi High-Tech's targets for the construction and development of additional projects, Etrion's objective to declare dividends in the future and Japan's national target for solar power generation). This forward-looking information reflects the current expectations or beliefs of Etrion and/or Hitachi High-Tech, as the case may be, based on information currently available to them as well as certain assumptions (including that all necessary financing and regulatory or other approvals will be obtained and that current and future solar projects will be developed and operated in a manner consistent with the expectations of Etrion and Hitachi High-Tech). Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause actual results to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Etrion or Hitachi High-Tech. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure to obtain necessary financing or approvals to complete construction of the solar projects or to operate them as expected, unexpected delays in starting or completing the construction of the solar projects and resulting delays in the start of operations, the inability of Etrion and Hitachi High-Tech to identify and/or acquire additional renewable energy projects on economic terms, the inability of Etrion to generate sufficient earnings from its projects to support the payment of dividends and possible reductions in Japan's target for solar power generation.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Etrion and Hitachi High-Tech disclaim any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Etrion and Hitachi high-Tech believe that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Contacts:
Hitachi High-Technologies Corporation
Reiko Takeuchi, Aiko Matsumoto
CSR & Corporate Communications Dept., CSR Div.
+81-3-3504-7760
takeuchi-reiko@nst.hitachi-hitec.com

Etrion Corporation
Pamela Chouamier
Investor Relations
+41 (22) 715 20 90
pchouamier@etrion.com

Source: Etrion Corporation and Hitachi High-Technologies Corporation


KVH Co., Ltd. Winner in 2014 Red Herring Top 100 Tech Companies in Asia Sep 1, 2014 10:00PM

HONG KONG--(BUSINESS WIRE)-- KVH Co. Ltd., Asia’s leading information delivery platform headquartered in Tokyo, Japan, today announced that it has been selected as a winner of the Red Herring Top 100 Asia award, a prestigious list honoring the year’s most promising private technology ventures from the Asian business region.

"Entrepreneurship in Asia has reached an inflexion point, and as a result, Red Herring Asia 2014 has shifted into a new phase," said Alex Vieux, publisher and CEO of Red Herring. "A second generation of entrepreneurs is emerging and their execution skills and global ambitions is leading to great companies, solid growth and a global footprint. As importantly, we are seeing more companies from countries once absent from innovation circles. KVH shows great promise and therefore deserves to be among the Top 100 rising tech companies in Asia.”

“We are pleased to have been recognized as one of the Top 100 companies in Asia by the editorial staff of Red Herring,” said Peter Jedrey, KVH VP of Marketing. “This award is a testament to the hard work of everyone at KVH who have come together to grow KVH beyond Japan and establish the company as a leading information delivery platform in Asia providing integrated IT and communication solutions.”

The Red Herring editorial team selected the most innovative companies from a pool of hundreds of rising technology companies across Asia. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technological innovation, quality of management, execution of strategy, and integration into their respective industries. This assessment of potential is complemented by a review of the track record and standings, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising business models in Asia. Additional information about the Red Herring Top 100 Asia award is available online at http://www.redherring.com/events/red-herring-asia/.

About KVH

KVH is an Asia Pacific IT Services and Data Center Services Provider established in Japan. KVH’s Information Delivery Platform delivers integrated cloud and network solutions and best-in-class service to its customers. KVH owns infrastructure and provides services that enable clients to store, process, protect and deliver their vital business information. KVH provides IT Services, Cloud Services, Data Center Services, Managed Network Services, and Professional Services.

KVH operates the lowest latency network in Japan, and with over 500 financial services customers, is the leading provider of ultra-low-latency network and proximity hosting solutions to the high-frequency trading community in Tokyo and Osaka. KVH also offers low-latency connectivity services between major financial markets in the Asia/Pacific region and the US including Tokyo, Chicago, Aurora, New York, Singapore, Hong Kong, Shanghai, Seoul/Busan, and Sydney. More information on KVH can be found at www.kvhasia.com/en/.

KVH

Yoriko Obokata, +81-3-4560-7255

press@kvhasia.com

or

Edelman Japan

Saori Adachi, +81-3-6858-7731

press@KVHAsia.com

Source: KVH Co. Ltd.


Mitsubishi Electric to Strengthen FA Product Services in Ahmedabad, India Sep 1, 2014 10:00PM

Ahmedabad FA Center to support Japanese manufacturers

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO:6503) announced today that Mitsubishi Electric India Pvt. Ltd. has begun operating, effective immediately, a new center to provide factory-automation (FA) services in Ahmedabad with the Indian state of Gujarat, where a large number of Japanese manufacturing companies in need of FA services are operating. The Ahmedabad FA Center will support the ongoing expansion of Mitsubishi Electric’s FA business in India, which is targeting sales of 8.9 billion INR, or 146 million USD, by the fiscal year ending in March 2016.

The Center will offer FA product training, technical consultation, solutions and training support for the engineering personnel of its customers. FA product servicing operations in the Gujarat area had been handled by the Pune FA Center, which was established in January 2012, and by local partners. The Ahmedabad FA Center, one of five such centers that Mitsubishi Electric now has in India, will provide faster, higher quality local services than ever before.

Ahmedabad, which has a robust economy and substantial infrastructure, is aggressively attracting outside investment. The area’s increasing number of Japanese manufacturers and automotive companies in general are envisioned stimulating demand for FA products and a wide range of related services.

 

Ahmedabad FA Center

Location   Primate, Judges Bungalow Cross Road, Bodakdev, Ahmedabad, Gujarat
Start of operations September 5, 2014
Employees 4
Business Engineering services, consulting, training and solutions
Target FA products Programmable logic controllers and numerical controllers, inverters, servo motors, graphic operation terminals and robots
Languages   English, Gujerati, Hindi and Japanese
 

Mitsubishi Electric India Pvt. Ltd.

President   Makoto Kitai
Headquarters

2nd Floor, Tower A & B, Cyber Greens, DLF Cyber City, DLF Phase-III, Gurgaon-122 022

Ownership Mitsubishi Electric Asia Pte Ltd.: 70%,

Mitsubishi Electric Corporation : 30%

Paid-in capital 1.8 billion INR (approximately 29 million USD)
Established September 21, 2010
Employees 608
Business   Industrial automation (sales, engineering services and integration); Support for air conditioning and infrastructure; Marketing, including market research and Setting up sales networks and managing distributors
 

FA Centers in India

    Location   FA Center (Established)
1 Gujarat, Ahmedabad India Ahmedabad FA Center   (2014)
2 Maharashtra, Pune India Pune FA Center   (2012)
3 Haryana, Gurgaon India Gurgaon FA Center   (2009)
4 Karnataka, Bangalore India Bangalore FA Center   (2012)
5   Tamil Nadu, Chennai   India Chennai FA Center   (2014)
 

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,054.3 billion yen (US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2014

Mitsubishi Electric Corporation

Customer Inquiries

Factory Automation Systems

https://www.MitsubishiElectric.in/contactus.php

http://www.MitsubishiElectric.in/

or

Media Inquiries

Katsunobu Muroi, +81-3-3218-2346

Public Relations Division

prd.gnews@nk.MitsubishiElectric.co.jp

http://www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation


MACOM Announces Industry’s First Four Channel CDR with Integrated High Output Voltage EML Driver for 100G Optical Modules Sep 1, 2014 10:00PM

Lowest Power CDR Solution is ideal for CFP4 and QSFP28 Applications

LOWELL, Mass.--(BUSINESS WIRE)-- M/A-COM Technology Solutions Inc. (“MACOM”), a leading supplier of high performance RF, microwave, millimeter wave and optical products, today announced the newest addition to its portfolio of clock data recovery (CDR) devices and modulator drivers for 100 Gbps optical module applications.

The MAOM-37051A is a four channel 28Gbps CDR with integrated electro-absorption modulated laser (EML) driver which can deliver up to 2.5Vpp single-ended output. The part integrates MACOM’s high performance CDR technology with its market leading EML drivers in a small form factor surface mount package to provide the lowest power solution available for CFP4 and QSFP28 transceivers. A live demonstration of the product will be on display at CIOE 2014 in Shenzhen, September 2nd, 2014.

The next generation of pluggable modules for 100G in CFP4 and QSPF28 form factors require drastic reductions in the size and power consumption of components. MACOM’s MAOM-37051A meets these stringent performance requirements for the transmitter and when combined with MACOM’s M37046 Receiver CDR and M03100 TIA devices, provides the lowest power complete chip-set solution for 100G modules.

“This is another great example of MACOM leading the way with new levels of performance and integration,” said Stefano D’Agostino, Distinguished Fellow of Technology at MACOM. “Working very closely with our customers and understanding their needs, this product along with our receiver chip-set enables the lowest power solution for the next generation of pluggable 100G modules”.

Samples of MAOM-37051A are available today. Please visit booth 1B73 at CIOE or www.macom.com for more information.

ABOUT MACOM

M/A-COM Technology Solutions Holdings, Inc. (www.macom.com) is a leading supplier of high performance analog RF, microwave, and millimeter wave products that enable next-generation Internet and modern battlefield applications. Recognized for its broad catalog portfolio of technologies and products, MACOM serves diverse markets, including high speed optical, satellite, radar, wired & wireless networks, CATV, automotive, industrial, medical, and mobile devices. A pillar of the semiconductor industry, we thrive on more than 60 years of solving our customers' most complex problems, serving as a true partner for applications ranging from RF to Light.

Headquartered in Lowell, Massachusetts, M/A-COM Tech is certified to the ISO9001 international quality standard and ISO14001 environmental management standard. M/A-COM Tech has design centers and sales offices throughout North America, Europe, Asia and Australia.

MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech, Partners in RF & Microwave, The First Name in Microwave and related logos are trademarks of MACOM. All other trademarks are the property of their respective owners.

For more information about MACOM, please visit www.macom.com; follow @MACOMtweets on Twitter; join MACOM on LinkedIn, or visit the MACOM YouTube Channel.

DISCLAIMER FOR NEW PRODUCTS:

Any express or implied statements in MACOM product announcements are not meant as warranties or warrantable specifications of any kind. The only warranty MACOM may offer with respect to any product sale is one contained in a written purchase agreement between MACOM and the purchaser concerning such sale and signed by a duly authorized MACOM employee, or, to the extent MACOM's purchase order acknowledgment so indicates, the limited warranty contained in MACOM's standard Terms and Conditions for Quotation or Sale, a copy of which may be found at: www.macomtech.com/content/customersupport .

FOR SALES INFORMATION:

North Americas -- Phone: 800.366.2266

Europe -- Phone: +353.21.244.6400

India -- Phone: +91.80.43537383

China -- Phone: +86.21.2407.1588

or

MEDIA:

M/A-COM Technology Solutions Inc.

Husrav Billimoria, 978.656.2896

Husrav.Billimoria@macomtech.com

Source: M/A-COM Technology Solutions Inc.


AmCham China Supports Reform Agenda, Increasingly Concerned About Fairness Sep 1, 2014 09:30PM

BEIJING, Sept. 2, 2014 /PRNewswire/ -- Many encouraging signs of economic reform have emerged over the past year, the American Chamber of Commerce in China said today in a new report on the investment environment in China, yet the promise of the reform agenda has yet to be realized. In fact, Challenges and Opportunities in China's Investment Environment: 2014 suggests that many important sectors of the economy continue to be short of much-needed investment because of onerous laws, regulations and practices.

With the economy slowing and foreign companies coming under increasing government scrutiny, the still-chilly investment environment is contributing to an increasing sense of pessimism among foreign multinational companies in China. This is reflected in a new survey showing that a majority of AmCham China members feel less welcome than before and almost half believe that foreign companies are being targeted, with the risk increasing that China will permanently lose its luster as a desirable investment destination.

"As China's economy rebalances from a state-led model based on exports and investment to a market-led model based on services and consumption, a difficult transition is to be expected for all private sector companies in China," said AmCham China Chairman Gregory Gilligan. "Today's update on our view of the investment environment, combined with what we are hearing from our members, demonstrates that the transition is indeed disruptive, perhaps more so for foreign companies, and progress on reform has been disappointingly slow.

"Since we analyzed the investment environment last year, there have been many encouraging promises of reform, but the environment for many foreign companies has nevertheless deteriorated. While we still believe in China's ability to make the changes necessary to transition to the next stage of development, delays and disruptions are leading foreign investors to alter their perceptions of the China market in fundamental ways."

Reflecting this urgency, this year's report not only updates recommendations from last year, but also offers a timeframe of reform, with some reforms possible now and others tied to developments in the China (Shanghai) Pilot Free-Trade Zone and a bilateral investment treaty now being negotiated between China and the United States. The report highlights some of the limited reforms made so far, as well as ongoing regulatory issues at both a macro and industry-specific level.

Survey Results

The report's release comes amid heightened interest in foreign multinational corporations from both the government and media. To reassess its members' sentiment, the chamber conducted a short survey at the end of August that repeated some of the questions asked in the annual Business Climate Survey it held late last year. The results showed that 60 percent of respondents feel foreign business is less welcome in China than before, and 49 percent believe foreign firms are being singled out in recent pricing or anti-corruption campaigns.

"Our members have been and remain enthusiastic supporters of China's integration into the global economy, but sadly this survey suggests that their positive sentiment is eroding," Gilligan said. "Our concern is that if the investment environment deteriorates too far, important relationships and linkages between China and the rest of the world will be materially damaged, seriously impairing China's ability to attract the investment that will be crucial in taking the country to the next stage of economic development.

"We still believe that China's economy will emerge from this difficult period stronger than before, and US companies in particular have a great deal to offer in the services sector so crucial to the economy's transformation. We will be closely watching the upcoming Fourth Plenum, and hope to see concrete moves toward creating a society based on the rule of law, rather than rule by law," Gilligan said.

"Our members are heavily invested in China's future, and the chamber looks forward to continuing dialogue with the Chinese government on finding ways to help the economy rebalance as efficiently as possible," Gilligan concluded.

About AmCham China:

The American Chamber of Commerce in the People's Republic of China (AmCham China) is a non-profit organization which represents US companies and individuals doing business in China. AmCham China's membership comprises more than 3,800 individuals from over 1,000 companies. It has more than 50 industry- and issue-specific forums and committees, offers unique services such as the Business Visa Program, holds a wide range of networking and informational events, and meets with US and Chinese officials to discuss challenges and opportunities facing US firms doing business in China. The Chamber's mission is to help American companies succeed in China through advocacy, information, networking and business support services. For more information, visit: www.amchamchina.org

SOURCE The American Chamber of Commerce in the People's Republic of China


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