OPEL Technologies Inc.
TSX VENTURE : OPL

OPEL Technologies Inc.
OPEL Solar Inc.

OPEL Solar Inc.

February 14, 2012 12:46 ET

OPEL Technologies Inc.-Director Appointment

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) - OPEL Technologies Inc. ("OTI") (TSX VENTURE:OPL) and OPEL Solar Inc. ("OSI") (collectively "OPEL" or "the Company"), a leading global supplier of solar tracker systems and other solar related products, and a semiconductor device and process developer, announced today the appointment of John F. O'Donnell, BA (Economics), LLB, to the Board of Directors of the Company to fill the vacancy created by the resignation of Mr. Peralta. Mr. O'Donnell is a Canadian and his appointment will enable OPEL to comply with the 25% Canadian residency requirement for the Board of Directors.

Mr. O'Donnell has practiced law in the City of Toronto since 1973 and is counsel to Stikeman Keeley Spiegel Pasternack LLP. His practice is primarily in the field of corporate and securities law and, as such, he is and has been counsel to several publicly traded companies. Mr. O'Donnell is currently also a director of RX Gold & Silver Inc. and Nerium Biotechnology, Inc. With his vast experience and expertise in Canadian securities legislation, corporate governance, private placements and prospectus financings, he will be a valuable addition to the Board of Directors. Mr. O'Donnell has been serving as legal counsel to the Company and its predecessor companies for over 20 years. Mr. O'Donnell will continue to act as legal counsel to the Company and will also serve on such board committees as the Board may decide. Although in the past, Mr. O'Donnell was always available to the Board when needed, his presence on the Board and its committees will be very useful, especially in these times of increasing compliance requirements and the demand by shareholders for more transparency.

"The Board is honored to welcome Mr. O'Donnell as a director of the Company." stated Mr. Lawrence Kunkel, Chairman of the Board. "His appointment exemplifies the Company's commitment to enhancing shareholder value, and his well known integrity and experience will be invaluable to the strategic growth of OPEL on a going forward basis and should assist in elevating OPEL's stature and credibility. With his increased responsibilities, he will surely provide a strong and solid support to the directors and management team of the Company while OPEL continues to expand its Solar sales and to develop its POET technology with a view to monetizing its semi-conductor division."

The Company will continue to seek to recruit other qualified candidates for appointment to the Board, particularly those with industry specific experience and expertise.

About OPEL Technologies Inc., OPEL Solar, Inc. and ODIS Inc.

With operations in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL Solar, Inc., designs, manufactures and markets dual- and single-axis trackers and other solar related products for CPV and PV systems for energy applications worldwide. 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. The Company has 35 patents issued and 16 patents pending in PV systems technologies and for its semiconductor POET process. The POET process 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 about OPEL, please visit our websites at www.opelsolar.com; and www.opeltechinc.com; and for ODIS at www.odisinc.com.

Dated: February 14, 2012

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

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.

Contact Information

  • OPEL
    Patricia Venneri Agudow
    Vice President, Public Relations
    +1 (203) 612-2366 x2612
    p.agudow@opelinc.com