OPEL Solar Confirms No New Material InformationOPEL Solar International Inc.
TSX VENTURE:
OPL
Mar 10, 2011 14:28 ET
OPEL Solar Confirms No New Material Information
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - March 10, 2011) - OPEL Solar International Inc. (TSX VENTURE:OPL) ("OPEL"or "the Company") announced today at the request of the IIROC MarketSurveillance a general statement with respect to the large increase involume of shares traded this past week. The Company previously announcedbeing in receipt of a third party valuation of intellectual propertydeveloped by its U.S. affiliate, ODIS Inc. Since that announcement, theCompany is aware that OPEL share trading has been robust. The Companywould like to officially state that since the ODIS valuation pressrelease of March 2, 2011, there has been no new material informationregarding ODIS Inc. and the POET Technology. In addition to the pressrelease on ODIS Inc., OPEL hosted a public conference call held onFriday, March 4, 2011 to discuss the valuation, strategic alternativesand the POET technology. A replay of the call is available on the OPELwebsite in the Investor Relations section. OPEL will update the publicwhen there is new information to report under full disclosurerequirements.
It is important to note that a third party valuation is notan indication of interest by any party, nor does it represent an actualoffer to purchase the POET intellectual property. As indicated in thereport, the POET Technology is still under development, and noassurances can be given that such development will be successfullycompleted, that the technology will be brought to commercial realizationor that the Company's target markets will adopt this technology.Commercial applications of the technology will likely not be availablefor several years, if ever.
About OPEL Solar International Inc., OPEL, Inc. and ODIS Inc.
With operations headquartered in Shelton, CT and the headoffice in Toronto, Ontario, Canada, the Company, through OPEL, Inc.,designs, manufactures and markets high performance concentratingphotovoltaic ("HCPV") panels to transform solar energy into electricityfor worldwide application. OPEL's high performance photovoltaicconcentrating panels generate up to 40% more kilowatt-hours thanconventional flat plate silicon solar panels, resulting in more costeffective electricity generated from the sun. OPEL also markets acomplete line of dual and single axis solar trackers to mount eitherHCPV or flat solar panels for the optimum power output. The Company,through ODIS Inc., a U.S. company, designs infrared sensor type productsfor military, consumer, industrial and commercial applications. ODIScontinues to develop gallium arsenide-based processes and semiconductormicrochip products having several potential major market applications:infrared sensor arrays for Homeland Security monitoring and imagingalong with the unique combination of optical lasers, and electroniccontrol circuits on the same microchip for potential applications invarious military programs and potentially telecom for, Fiber to TheHome.
A leader in gallium arsenide and solar concentratingphotovoltaic technology, the Company has been awarded 35 patents and has12 more patents pending, including those related to POET. OPEL's commonshares trade on the TSX Venture Exchange under the symbol "OPL". Formore information about OPEL, please visit the Company's website at www.opelinc.com.
Dated: March 10, 2011
ON BEHALF OF THE BOARD OF DIRECTORS