OPEL Solar Announces Board Change
SHELTON, CONNECTICUT AND TORONTO, ONTARIO, Jul 29, 2011 (MARKETWIRE via COMTEX News Network) --
OPEL Solar International Inc. (TSX VENTURE: OPL) ("OPEL" or "the Company") announced today a change to its Board of Directors. Due to unanticipated personal circumstances, Mr. Chris Grasset has withdrawn from serving on the Board of Directors. Mr. Grasset wanted to reiterate that his optimism remains undiminished and that the Company's efforts will result in strong growth in both its solar and semiconductor lines of business. The Board does not intend to fill the vacancy at this time, and wishes Mr. Grasset the best in his future endeavours.
The Company's management and the Board continue to be committed to the goal of increasing long-term shareholder value, and underlines its confidence in the current strategy for the Company's solar business - including greater vertical integration, development of a brownfields initiative and its burgeoning systems rollout in North America and China - and for its Planar Optoelectronic Technology (POET) device development program. OPEL is looking forward to shortly providing updates of its growing activities in both the solar and semiconductor sectors towards these goals.
About OPEL Solar International 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 12 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 the Company's website at www.opelinc.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.
AI
