ODIS Continues Work with NASA Phase II Development Contract
Breakthrough Optical Code Technology Continues to Influence Air, Space and Commercial Advances
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - May 1, 2012) - OPEL Technologies Inc. (TSX VENTURE:OPL) and ODIS Inc. (collectively "OPEL" or "the Company"), a semiconductor device and process developer and, a leading global supplier of solar tracker systems and other solar related products, announces after months of intense specification review ODIS has officially received a follow on development contract with the National Aeronautics and Space Administration ("NASA"). The Phase II Award is for $750,000. After an evaluation of the successful research and development progress in the Phase I Award, NASA's continued acceptance of ODIS's POET platform as a preferred method to develop Optoelectronic infrastructure for RF/Optical phased arrays led to the decision to issue the Phase II and carry on with POET development and association with ODIS.
Next generation sensors in space require both optical sensing in the 1.0 - 1.5um waveband and mmw sensing at 35GHz. Normally, separate emitting apertures are required for the optical and RF functions. ODIS will develop the Planar OptoElectronic Technology ("POET") to combine the RF and optical transmit beams for phased array sensors into a single monolithic circuit, with each circuit providing a pixel of the RF array. When multiple circuits are produced on a single wafer, a phased array sensor is realized monolithically. POET will also enable on-chip electronic control of both RF and optical beam steering angles by using differential group delay produced with integrated optical resonators. With the large number of such spacecraft sensors deployed in extended missions, a huge advantage is gained by the elimination of weight and power along with improvements in reliability. The combining of two sensors into the same aperture achieves all of these goals.
Leon M. Pierhal, President & CEO of OPEL, explains, "Although ODIS has a history of successfully receiving SBIR ("Small Business Innovation Research") grants for many years, this Phase II NASA grant builds on the significance of the first award because it indicates NASA considers the POET process integral to meeting their future needs."
"As a reminder, commercial applications may be brought to bear once the device is completed for NASA," Pierhal continued. "Compact electronically scanned phased array sensors with combined RF and optical emission have significant commercial potential in security, aviation and free space optics communication markets. These are active sensors which complement the traditional infrared and visible imagers."
POET (PlanarOptoElectric Technology) is ODIS's new and patented semiconductor fabrication process. The heart of POET is a unique and patented Group III-V materials system that supports monolithic fabrication of ICs containing active and passive optical elements, together with high-performance analog and digital elements. For the first time an economical integration of many optical devices together with dense, high-speed analog and high-speed, low-power digital elements are possible in monolithic ICs. POET allows ODIS to fundamentally alter the landscape for a broad range of applications by offering components with dramatically lowered cost together with increased speed, density, and reliability.
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 Solar, Inc., designs, manufactures and markets dual- and single-axis trackers and other solar related products for 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 36 patents issued and 14 patents pending in PV systems technologies and for its semiconductor POET process. The POET process 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.opelsolar.com; and www.opeltechinc.com; and for ODIS at www.odisinc.com.
Dated: May 1, 2012
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning future applications for POET. Specifically, they include OPEL's statement that "commercial applications may be brought to bear once the device is completed for NASA", and "POET allows ODIS to fundamentally alter the landscape for a broad range of applications by offering components with dramatically lowered cost together with increased speed, density, and reliability."
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the development of POET, the ability to attract key personnel, and the inability to raise additional capital. Additional assumptions and risks are set out in detail in OPEL's Annual Information Form, available on SEDAR at www.sedar.com.
Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward- looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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.
Source: Marketwire Canada (May 1, 2012 - 8:00 AM EDT)
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