Northern States Metals Announces Intention to Buy Solar Tracker Assets from OPEL Technologies, Inc.
The OPEL Tracker technology is a proven system that is designed to increase the yield of a Photovoltaic System by up to 30 percent.
YOUNGSTOWN, OHIO – Northern States Metals (NSM) and OPEL Technologies, Inc., (TSXVenture:
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certain assets related to OPEL's Solar Tracker business.
NSM is the developer and manufacturer of Solar FlexRack, a best-selling patented, preassembled
photovoltaic mounting system. NSM sold its first Solar FlexRack in 2009 and now
has more than 350MW worth of systems installed in North America.
"We are excited about OPEL's Solar Tracker," said Tom Meola, Northern States Metals President
and Chief Executive Officer 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. The OPEL Tracker technology includes an advanced
wireless monitoring system that can be readily interfaced to a customer's SCADA Systems.
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."
The sale of the Tracker business enables OPEL to achieve its objective, announced June 20,
2012, of divesting its Solar Division in order to focus on the POET platform technology of
OPEL's ODIS Division.
The proposed transaction remains subject to the completion of due diligence and various other
conditions, including a definitive purchase agreement. Assuming that all conditions to closing are
satisfied, a closing is expected to occur in late September.
OPEL Technologies has corporate offices in Toronto, Ontario and Shelton, Connecticut. NSM
has manufacturing facilities in Youngstown,Ohio and Toronto, Ontario, with corporate offices
West Hartford, Connecticut.
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