OPEL Technologies Inc.
TSX VENTURE : OPL

OPEL Technologies Inc.
OPEL Solar Inc.

OPEL Solar Inc.

March 02, 2012 08:00 ET

OPEL Technologies Inc. Dispels Internet Rumors

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - March 2, 2012) - OPEL Technologies Inc. (TSX VENTURE:OPL) and OPEL Solar Inc. (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, wishes to dispel certain rumors about the Company presently circulating on the internet.

OPEL wishes to clarify that, contrary to these rumors, the Company has not, for any reason whatsoever, withheld material information which would be required to be publicly disseminated in accordance with the applicable securities laws, rules and regulations in Canada and the USA. Some resourceful shareholders have discovered on the internet that the US NASA has allocated certain funds for OPEL under the SBIR program. OPEL has been in ongoing discussions and negotiations with respect to solidifying and their agreeing to the specific device to be developed with that award, and it is premature to announce its completion. If and when such SBIR negotiations are concluded and the SBIR is officially granted, OPEL will issue a press release on a timely basis, as it will with respect to any other material information. Management shares with OPEL's shareholders their frustrations and disappointment with OPEL's current share price, which is the result of normal market forces.

OPEL also wishes to announce a new patent which is particularly directed to an array of thyristor devices that determines the angle-of-arrival of an incident laser beam with high angular resolution (typically referred to as a "HARLID"). The new patent, which was issued a patent number by the U.S. Patent and Trade Office in December, 2011, raises the number of patents issued to the Company to 36. This is a core patent from which additional development is expected, and, after reviewing the final patent documentation, the POET team can now validate some of the ancillary technical findings.

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 36 patents issued and 15 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.

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