OPEL International Inc.
TSX VENTURE : OPL

OPEL International Inc.

August 20, 2009 16:00 ET

OPEL International Files Second Quarter 2009 Financials

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Aug. 20, 2009) - OPEL International Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global developer and supplier of high concentration photovoltaic ("HCPV") and other solar products, including ground-based and rooftop tracker systems, today announced the filing on SEDAR of its Financial Statements and the Management's Discussion and Analysis ("MD&A") for the 3-month period ended June 30, 2009 (collectively the "Financials").

The Financials for the second quarter of 2009 showed that OPEL's revenue grew slightly over the second quarter of 2008, as it continued to achieve its objectives as outlined in the Company's MD&A. OPEL has now shipped approximately $1,000,000 (363 kW) of its Mk-I HCPV panels to the company's grid field installation in the Tarragona region of Northern Spain. To date, 220kW of this installation are installed and providing power to the grid. This will be recognized as revenue once the field is sold to a third party.

"We are pleased to that report OPEL continues to execute on its growth path during the second quarter and maintain a solid cash position, particularly during these unprecedented economic conditions," said Michael McCoy, OPEL's Chief Financial Officer. OPEL continues to focus on completing the multiple phases of our first Spanish installation, growing our sales force to take advantage of a variety of new opportunities and driving down the cost of our products."

About OPEL International

With operations headquartered in Shelton, CT and Toronto, Ontario, Canada OPEL designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL also markets a complete line of dual and single axis solar trackers to mount solar panels for the optimum power output. OPEL also designs infrared sensor type products for military and industrial applications.

A leader in gallium arsenide and solar photovoltaic technology, the Company has been awarded 39 patents and has eight more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.

Dated: August 20, 2009

IN BEHALF OF THE BOARD OF DIRECTORS

(Signed)

Michel Lafrance, Secretary

Investors are cautioned that except for statements of historical facts, certain statements contained in this news release may include forward-looking information with respect to the Company. Such forward-looking statements or information are based on current expectations, estimates and projections formulated using assumptions currently believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • OPEL International Inc.
    Pat V. Agudow
    Vice President, Administration
    (203) 612-2366 Ext 2612
    p.agudow@opelinc.com
    or
    WT Blase & Associates Inc.
    Bill Blase, Cathy Loos, or Stephanie Kuffner
    Media Relations
    (212) 221-1079
    solar@wtblase.com