TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwire - March 4, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company") today announced that it has achieved Milestone 4, the next key milestone in its Planar Optoelectronic Technology ("POET"), achieving radio frequency and microwave operation of both n-channel and p-channel transistors.
With this achievement, POET extends the capability of its unique monolithic platform to cover integration of a complete range of wavelength-division multiplexed (WDM) capable optoelectronic devices and functions. This is in addition to complementary electronics based on n-channel and p-channel transistors as either field effect transistors (FETs) or bipolar devices.
Specifically for this milestone, 3-inch POET wafers fabricated at BAE Systems (Nashua, NH) yielded submicron n-channel and micron-sized p-channel transistors operating at frequencies of 42 GHz and 3 GHz respectively. These operating frequencies are expected to be improved even further in the short term to up to 300-350 GHz range for the n-channel device.
Peter Copetti, Executive Director of OPEL, noted: "Following the success of our Vertical Cavity Surface Emitting Laser milestone achieved recently, this result further verifies POET's electronic and optical monolithic compatibility, a key advantage of POET as a silicon CMOS replacement. Our on-chip optical generation and detection capability is unique in the semiconductor industry."
Progress on Dr. Taylor's work at the OPEL lab had been delayed by damage sustained to key equipment during a multi-day power outage caused by Tropical Storm Sandy in late October 2012. However, the rebuild is expected to be completed next week, and the company expects the affected equipment will be recalibrated and operational again by the end of March 2013.
Copetti added, "Given the caliber of the POET team, we are confident that the lost time will be made up so that it will not have a material impact on the milestone target dates."
At the successful conclusion of the recent private placement fundraising, approximately $1.3M in new capital equipment was ordered to upgrade the R&D facility capabilities. The Company has completed all necessary site infrastructure upgrades and is awaiting the arrival of the new equipment. The Company expects the new equipment will be installed, calibrated, and commissioned by the end of June, 2013.
By enabling increased speed, density, reliability, power efficiency, and much lower bill-of-materials and assembly costs, POET provides a new technology direction and opportunity for the semiconductor industry. POET will allow continued advances of semiconductor device performance and capabilities for many years, overcoming the current power and speed bottlenecks of silicon-based circuits, and will change the future development roadmaps of a broad range of semiconductor applications including mobile devices, computer servers, storage arrays, imaging equipment, networking equipment, transportation systems, and test and measurement instruments.
About OPEL Technologies Inc.
With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory; and through OPEL Solar, Inc., provided systems for energy applications. The Company has 34 patents issued and 7 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information please visit our websites at www.opeltechinc.com and for ODIS at www.odisinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, the following expectations:
- These operating frequencies are expected to be improved even further in the short term to up to 300-350 GHz range for the n-channel device.
- POET will allow continued advances of semiconductor device performance and capabilities for many years, overcoming the current power and speed bottlenecks of silicon-based circuits, and will change the future development roadmaps of a broad range of semiconductor applications.
- The rebuild (of the damaged equipment) is expected to be completed next week, and the company expects the affected equipment will be recalibrated and operational again by the end of March, 2013.
- The Company expects the new equipment (which was ordered to upgrade the R&D facility capabilities) will be installed, calibrated, and commissioned by the end of June, 2013.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect.
Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.