OPEL Solar, Inc. and SOLYPAC Technology Sign an International Dealer Agreement OPEL Solar Panels and Trackers Advance into Utility Scale Markets
Shelton, CT and Toronto, ON, December 21, 2009 - OPEL Solar, Inc., a leading global developer and supplier of high concentration photovoltaic ("HCPV") and other solar products, including ground-based and rooftop tracker systems, today announced it has entered into an International Dealer Agreement with SOLYPAC Technology Co., Ltd. based in Seoul, South Korea. The Agreement makes available to SOLYPAC the complete OPEL Solar product line to supply utility scale projects. Especially important to this Agreement are the Mk-I HCPV panel and the array of single and dual axis trackers that, when used with the HCPV panels, have the potential to increase photovoltaic yields of solar farms by up to 40 percent.
"OPEL Solar is very pleased to have signed the Dealer Agreement with SOLYPAC," said Frank Middleton, COO of OPEL Solar. "It expands our international reach to supply utility scale solar projects with OPEL's advanced solar technology and the increased efficiency that concentration photovoltaics and tracking provides."
"Our International Dealer Agreement with OPEL Solar is a highlight for SOLYPAC because its full product line opens the door to bring HCPV and PV panels installed on its tracker products to South Korean and other international market places in which we have active business proposals, including the United States," said JK Kim, President and Chief Strategy and Marketing Officer of SOLYPAC Technology.
In addition to SOLYPAC offering OPEL Solar's full product line of HCPV panels and trackers, OPEL will also provide technical support for the installed projects. OPEL Solar provides PV panels to be used with OPEL's trackers to meet the needs of regions with low solar irradiance, generating more energy than fixed mounted installations
About OPEL Solar, Inc. and OPEL International Inc.
With operations headquartered in Shelton, CT and Toronto, Ontario, Canada, OPEL Solar, Inc. designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL Solar's high performance photovoltaic concentrating panels generate up to 40 percent more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost-effective electricity generated from the sun. OPEL Solar also markets a complete line of dual and single axis solar trackers to mount solar panels for optimum power output. OPEL also designs infrared sensor type products for military and industrial applications.
A leader in gallium arsenide and solar photovoltaic technology, the Company has been awarded 39 patents and has 12 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL Solar, Inc., please visit the Company's website at www.opelinc.com. OPEL Solar, Inc. is a subsidiary of OPEL International Inc. (TSX-V: OPL).
Dated: December 21, 2009
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
For further information:
Pat V. Agudow, Vice President, Public Relations; OPEL Solar, Inc.; Tel: (203) 612-2366 Ext 2612; Email: firstname.lastname@example.org
Bill Blase, Cathy Loos or Stephanie Kuffner, Media Relations; WT Blase & Associates, Inc.; Tel: (212) 221-1079; Email: email@example.com
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Investors are cautioned that except for statements of historical facts, certain statements contained in this news release may include forward-looking information with respect to the Company. Such forward-looking statements or information are based on current expectations, estimates and projections formulated using assumptions currently believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. The Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.