Shelton, CT and Toronto, ON, May 17, 2010 - OPEL International Inc. (TSX-V: OPL) ("OPEL"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and other solar products, including ground-based and rooftop tracker systems, today announced changes to its management lineup and its Board of Directors following the resignation of Robert G. Pico as Chief Executive Officer, President and a member of the Board of Directors.
Shelton, CT and Toronto, ON, May 17, 2010 - OPEL International Inc. (TSX-V: OPL) ("OPEL"), a
products, including ground-based and rooftop tracker systems, today announced changes to its
management lineup and its Board of Directors following the resignation of Robert G. Pico as Chief
Executive Officer, President and a member of the Board of Directors.
The resignation is effective immediately, and Leon (Lee) M. Pierhal, currently President of ODIS
Inc., an OPEL Inc. affiliate, has been appointed Chief Executive Officer and President. Lee has been
with OPEL since 2001, and also is a member of the Board of Directors. It is a positive election for
the shareholders to have Pierhal's leadership because of his intimate experience with the Company's growth, including OPEL going public on the TSX Venture Exchange.
Pico informed the company's Board of Directors that he wished to retire from full-time duties at
OPEL. He will, however, remain with OPEL in a consulting capacity assisting with several strategic
customer accounts and other key matters at the company.
Pico is credited for many accomplishments at OPEL. Under his leadership, OPEL created a great team and product line-up and achieved many milestones that contributed to the company's growth and success.
The company also announced changes within the Board of Directors' structure. Lawrence R. Kunkel, who has served several years as a Board member and the Chair of the Audit Committee, has taken on the position as Chairman of the Board. Denis Colbourne, the former Chairman, remains on the Board of Directors and continues to serve on the Audit and Compensation Committees of the Board. Lawrence R. Kunkel has long standing connections to the renewable energy and the defense industries, and that is beneficial to OPEL.
"We wish Bob well. We thank him for all his accomplishments at OPEL and look forward to a
continued working relationship with him on strategic projects important to building upon the
commercial success OPEL has achieved as the leading innovator in the HCPV industry," said Lawrence R. Kunkel, Chairman of the Board. OPEL also expanded
Frank Middleton's role as Vice President of Marketing and Chief Operating Officer of OPEL Solar to include being Chief Operating Officer of all the OPEL companies.
The changes announced today reflect the Board's and the management team's focus to grow the company to its next level of success and to build on the strong foundation we have in place. All of these adjustments will serve the best interests of the shareholders. The company's business outlook continues to be extremely positive, as HCPV and tracker technologies gain acceptance among large
commercial solar buyers.
About OPEL International
With OPEL's operational headquarters in Shelton, Connecticut and the headquarters office in Toronto, Ontario, Canada, OPEL designs, manufactures and markets high performance concentrating
photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application.
OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatthours
than conventional flat plate silicon solar panels, resulting in more cost effective electricity
generated from the sun. OPEL also markets a complete line of dual and single axis solar trackers to mount solar panels for the optimum power output. OPEL designs infrared sensor type products for military, consumer, industrial and commercial applications.
A leader in gallium arsenide and solar concentrating photovoltaic technology, the Company has been awarded 32 patents and has 18 more patents pending. OPEL's common shares trade on the TSX
Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the
Company's website at www.opelinc.com.
Dated: May 17, 2010
ON BEHALF OF THE BOARD OF DIRECTORS
Pat V. Agudow, Vice President, Public Relations
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