OPEL Technologies Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels, solar tracker systems and a semiconductor device and process developer, announces that OPEL has entered into a financing arrangement with Kodiak Capital Group, LLC ("Kodiak") to provide the Company up to $10 million of funding capacity (the "Facility Amount") in the form of an equity line of credit.

SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Sept. 29, 2011) - OPEL Technologies Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels, solar tracker systems and a semiconductor device and process developer, announces that OPEL has entered into a financing arrangement with Kodiak Capital Group, LLC ("Kodiak") to provide the Company up to $10 million of funding capacity (the "Facility Amount") in the form of an equity line of credit. The arrangement requires Kodiak to purchase up to $10,000,000 of the common shares of the Company. The Company may draw-down funds from time to time, at its sole discretion, over a period of two years after the common shares has been qualified for distribution. All shares will be issued by the Company at a price equal to the market price of the Company's shares on the TSX Venture Exchange based on the five consecutive trading days immediately after a draw-down notice has been delivered by the Company less a discount of 10%. The amount that the Company shall be entitled to request from each of the draw-downs shall be equal to the greater of (i) $1,000,000 or (ii) up to 200% of the average daily volume (US market only) ("ADV") multiplied by the average daily trading volume of the Company's shares for the three trading days prior to the delivery by the Company of a draw-down notice.

The arrangement is subject to the approval of the TSX Venture Exchange and the distribution of the common shares is subject to the issuance of a receipt for a prospectus (final) which is required to be filed by Company with the appropriate Canadian securities regulatory authorities. The Company has agreed to issue to Kodiak 2.5% of the Facility Amount payable in newly-issued common shares of the Company upon the issuance of a receipt for a prospectus (final) to the Company and 2.5% of the Facility Amount payable in newly-issued common stock at the time of the first draw down of funds by the Company.

OPEL Technologies will use these funds for its growth and expansion plans and to meet its contractual obligations stimulated by its accelerated sales and to address further research and development efforts of OPEL Technologies including its subsidiaries and affiliate companies.

"This $10 million comes at the perfect time to help fulfill the rapid growth and expansion we have been enjoying for the past several years," said Michael McCoy, Chief Financial Officer of OPEL Technologies. "The scope of this investment by a premier U.S. financial investment firm underscores our belief in OPEL's future. Kodiak has a deep industry background in semiconductors, clean technologies and communications infrastructures. Kodiak's expertise and experience certainly is a perfect fit for OPEL Technologies' businesses because Kodiak has a keen understanding of our business segments and the financial requirements it takes to become first a dominant force then maintain that position within the markets," stated Leon M. Pierhal, CEO of OPEL.

OPEL will continue to provide updates as new information becomes available, pursuant to full disclosure requirements.

About Kodiak Capital Group, LLC

Kodiak Capital Group, LLC is engaged in assisting growth companies in all facets of their long term strategy by providing capital and progressive business solutions. Kodiak manages a portfolio of investments in public and private equities. Founded in 2009, Kodiak has transacted in excess of $300 million in financing for companies across a multitude of industries including biotechnology, business services, consumer products, defense, healthcare, Internet, manufacturing, medical devices, natural resources, oil and gas, renewable energy and wireless communications. Headquartered in New York City, Kodiak assists companies throughout North America and Australia.

About OPEL Technologies Inc., OPEL Solar Inc. and ODIS Inc.

With operations in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL, Inc., designs, manufactures and markets high-concentration photovoltaic panels and dual- and single-axis trackers for related CPV and PV systems for energy applications worldwide. 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. The Company has 35 patents issued and 16 patents pending in PV systems technologies and 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 about OPEL, please visit our websites at www.opeltechinc.com; for OPEL Solar at www.opelsolar.com; and for ODIS at www.odisinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.