OPL Poet Technologies, Inc.

OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company"),
Peter Copetti, executive board member and chair of special committee established
by the Board of Directors to diversify out of solar, is pleased to announce that
the Company and its subsidiary OPEL Solar, Inc. have entered into an agreement
("Agreement") with Northern States Metals ("NSM") of West Hartford, Connecticut,
involving the sale of most of the Company's solar assets.


The Agreement is subject to NSM completing its due diligence review and
execution of definitive legal documentation. The completion of a definitive
agreement is conditional, among other things, upon the Company being able to
enter into satisfactory repayment arrangements with its solar creditors. The
completion of a definitive agreement is also conditional upon the Company being
able to enter into satisfactory arrangements with certain of its employees and
consultants. Assuming that all conditions to closing are satisfied, the
transaction is expected to be completed in late September. 


"We are excited about OPEL's Solar Tracker," said Tom Meola, President and CEO
of NSM. "It broadens our Solar FlexRack product line, and OPEL's Solar Tracker
is perfect for the kind of utility-scale projects that we're now targeting. The
OPEL Tracker technology is a proven system that is designed to increase the
yield of a Photovoltaic System by up to 30 percent. It eliminates inter-row
shadowing, allowing for larger systems to be installed in a smaller area. Solar
FlexRack has been successfully marketed as the mounting system with the fastest
installation time, substantially lowering labor costs. Likewise, the OPEL Solar
Tracker is designed for efficient installation - a complete 10 kW system can be
assembled in less than four hours." 


"The OPEL Tracker acquisition fits well with the NSM mission to continually
lower the balance of system costs for large solar projects," added Meola. "We
are working to make solar a more efficient and cost- effective energy
alternative." 


Mr. Leon Pierhal, President and CEO of the Company stated: "The completion of
this sale will enable OPEL to achieve its objective, announced on June 20, 2012,
of divesting its Solar Division in order to focus on the POET platform
technology of OPEL's ODIS Division." 


About OPEL Technologies Inc.

With head office in Toronto, Ontario, Canada, and operations in Shelton, 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.,
provides PV systems for energy applications. The Company has 37 patents issued
and 13 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; for OPEL
Solar at www.opelsolar.com; and for ODIS at www.odisinc.com.


About Northern States Metals

NSM has manufacturing facilities in Youngstown, Ohio and Toronto, Ontario, with
corporate offices in West Hartford, Connecticut. NSM is the developer and
manufacturer Solar FlexRack, a best-selling photovoltaic mounting system which
first came to market in 2009 and now has more than 350 MW worth of systems
installed in North America. 


ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

Grafico Azioni Poet Technologies, Inc. (TSXV:OPL)
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Da Mag 2024 a Giu 2024

Grafico Azioni Poet Technologies, Inc. (TSXV:OPL)
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