Randall Howard

ARISE Fair Sun …

The reference to Romeo and Juliet was apt when last week I had the pleasure to meet with Ian MacLellan, of ARISE Technologies (TSX:APV)

The Founder of ARISE, Ian is now Vice Chairman and Chief Technology Officer and I met him just after a great quarterly release to the public markets.

Having worked tirelessly for close to 12 years, Ian is a living example of the qualities we recently outlined in a set of blog posts entitled “Entrepreneurial Toolkit”:

1. Fearless Passion
   
2. Don’t Drink Your Own Bathwater
   
3. Embrace Change
4. Taste the Cash Burn
5. The Power of Two (or Three)

First of all, rarely have I seen someone more passionate about a business vision than Ian. His company vision, almost a mantra, is to “take solar mainstream” and that hasn’t changed since Ian first explained ARISE to me many years ago. In fact, I believe it was the founding vision way back in 1996. Indeed, even the company name itself, shortened from “Appropriate Renewable Intelligent Sustainable Energy” is a passionate embrace of Ian’s vision.

Having pioneered in the solar industry long before Green Technology was fashionable as it is today, particularly in Canada’s challenging technology funding ecosystem, meant that the company was forced to run on fumes for many of those formative years. By watching cash burn like a hawk and by being able to sell and articulate the vision clearly, Ian was led the charge to fund those early days. Indeed, Ian spent significant time in fund raising mode for many of those years. In our investment climate, this is something almost all early stage technology companies will easily relate to. I would credit Ian with more persistence in riding through a challenging funding environment than almost any other entrepreneur I can think of.

As an early ARISE advisor and investor, it was instructive for me to watch Ian lead a charge which necessitated navigating through a number of key stepping stones to attain their current status as an advanced solar manufacturer. Now they produce both proprietary PV solar cells in Germany and refine specialized solar-grade polysilicon feedstock in Waterloo. As part of the means to an end, ARISE acted as a distributor/reseller of solar components. As well, they honed their brand and expertise by integrating solar systems into a number of, primarily residential, projects. Although this potentially diverted much energy and focus, it was necessary to generate awareness, cashflow and to be ready when the market was ready for ARISE to ramp up production of their proprietary products.

Today, having raised over $100 million in financing, which is in itself a rare feat in the cash-starved Canadian technology ecosystem, ARISE is growing at breakneck speed. They will transition from effectively a pre-revenue state to a projected over $40 million revenue from commercial solar production during 2008. Such rapid market expansion requires scaling of all aspects of the business, including significant increases to their management footprint. Unlike many founders, Ian was ahead of the curve, both in recruiting A-team talent into CEO and CFO positions, but also refining his role into a long term role where he can have the highest value to this growing Canadian success story. Other entrepreneurial founders could do well to learn from people like Ian. Although it’s sometimes hard to “check your ego at the door”, building great companies is all about great teams as imposed to superstar individuals.

Kudos to Ian and the great team at ARISE. We’ll be watching this Canadian-headquartered global success story closely.

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Celebrating the Numerically Auspicious Flavius Octavius

Definitely outshining the Olympian brouhaha, today we gathered to celebrate the birthday of hitherto little known Flavius Octavius. We were honoured to have a reading by the eminent historian and raconteur, Peter Scott, who narrated a gripping saga, reflecting his very latest research. An excerpt of that esteemed work by Herr Doctor Professor Scott follows:

Flavius Octavius
Born 641
Cardinal 662
“anti-pope” 669 in Oc, France
Died 721

well known for his bulls, which had many issues
father was an ocarina maker and player
mother, an occultist (also took in laundry)At the time of his papacy there were several antipopes - challengers to the papal authority in Rome - besides Octavius of Oc, there were Sardonicus of Avignon, Herbivorus of Seville and Randy of Burnham on Crouch.

Octavius’ deeds are the stuff of legend.
He is venerated in Oc today as the patron saint of stray cattle. It is said that his bulls often escaped from their enclosure.

On one famous occasion, when a most large and ferocious bull was terrorising the honest citizens of Oc, the saintly Octavius, still in his ceremonial robes, caused his bearers to lower the palanquin in which he was riding. He produced an ocarina from a concealed pocket and, fearlessly facing the raging bull, played an air of such melodic sweetness that the bull became totally incensed. After the merest, most cursory pawing of the earth, it charged the courageous cleric, who turned and fled, His only escape route was down a very narrow alley and Octavius was not a thin, ascetic pope. In fact, he was a substantially built pope (the expression ‘enbonpoint’ comes to mind). However, although he became tightly wedged at the narrowest point of the alley, he continued to play his ocarina. (There is scholarly disagreement concerning whether this was a sign of his courage or the result of all the wind being forced out of his lungs by his confinement.) The bull, his enthusiasm for goring portly popes no wit diminished, pursued Octavius until he too, became wedged. Thanks to a subtle discrepancy in their respective girths, the bull was brought to a halt within snorting distance of the pontiff.

This stalemate was maintained until the pope’s own Corsican Guards were able free each of the wedged, although to do so, they had to wait for the better part of five days until, first the bull, and then the pope had lost sufficient avoirdupois to allow for the careful application of ropes and wedges.

On the eighth of August every year, Oquians re-enact this famous legend with the famous ‘Spectacle du Taureau.’ Be the weather cool or hot, young and old alike don heavily padded suits under clerical robes and parade at noon in the streets, all playing the well-rehearsed ‘Melodie du taureau‘ on their ocarinas. At an unspecified moment a bull is released, and, like the Bulls of Palmplona, it pursues the crowd. But do not be alarmed, gentle listeners, this bull has been so well fattened that it can barely manage a slow, swaying trot.

The same bull makes a second appearance in the town later that evening garnished with Dijon mustard, flavoured with garlic and various ‘herbes de Provence’ and accompanied with Oc’s special edition red wine, ‘Ruelle Entroite du Pape’.

I hope that this little historical excursion has not intruded upon your enjoyment of tonight’s celebration, and that you will be truly edified by the shining example of courage of Pope Flavius Octavius of Oc, who, on this day, 1300 years ago, triumphed in a tight spot.

Now, everyone please exchange the traditional Oquian greeting, Merde des Taureaux!”

Peter Scott, Elora, 8 August, 2008

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