POET Technologies Inc (PTK)

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OPEL Solar International Inc. Changes Name to OPEL Technologies Inc.

SHELTON, CONNECTICUT AND TORONTO, ONTARIO, Aug 26, 2011 (MARKETWIRE via COMTEX News Network) --
OPEL Solar International Inc. (TSX VENTURE: OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and other solar products, including ground-based and rooftop tracker systems, announces that it has filed Articles of Amendments under the Business Corporation Act (Ontario) dated August 25, 2011, thereby changing its name to OPEL Technologies Inc. There is no consolidation of capital, and no exchange of shares is required.
The Company is also in the process of changing the name of its subsidiary OPEL, Inc. to 'OPEL Solar Inc.'.
Trading under new name - Trading on the TSX Venture Exchange under the new name will commence on August 29, 2011. The Stock Symbol "OPL" will remain the same, but the CUSIP and ISIN numbers have been changed to 683488 10 0 and CA34881006 respectively.
Purpose - The purpose of these name changes is to better reflect the two distinct segments of the Company's businesses and to avoid confusion caused by the former name only reflecting the solar side of the business.
"The name change to OPEL Technologies better exemplifies the scope of our expanding Company. The organization has exhibited significant growth and recognition in each of its distinct business divisions, and it is important to establish a parent company that captures each group's mission as they gain momentum and growth in the future," said Leon M. Pierhal, OPEL's Chief Executive Officer.
The Company is engaged in (a) the design, manufacture and marketing of high-concentration photovoltaic panels and dual- and single-axis trackers for related CPV and PV systems for energy applications worldwide and (b) 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.
Solar Business - The mission of OPEL Solar Inc. is to develop and supply innovative solutions to harness electricity from the sun in the most efficient and cost effective manner. OPEL designs, manufactures and markets high concentration photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. Concentrating photovoltaic systems are the next generation in solar technology. The high efficiency of the OPEL HCPV panel results in significantly higher power generation per unit of area when compared to both silicon flat panel and thin film installations. When mounted on OPEL's dual axis trackers, the energy production of an HCPV or PV panel can increase by up to 45% with respect to a fixed mounted system. With its unique design and high efficiency, OPEL strives to become the leader in HCPV solar panels. OPEL also markets a complete line of single and dual axis solar trackers to mount solar panels for the optimum power output. The TF800 single axis solar tracker, introduced during 2010, highlights ease of installation in the construction process and incorporates backtracking capability to reduce any impact from shadowing. Additionally, OPEL trackers have a wireless control capability to reduce installation and maintenance costs associated with large solar field operations.
OPEL Solar, Inc. has a Belgium-based subsidiary, OPL Solar Europe SPRL, which addresses business opportunities in Europe. In December 2010, OPEL Solar, Inc. formed OPEL Solar Asia ("OSA"), a Joint Venture with Ecotech Environmental Technology Ltd. ("Ecotech") based in Hong Kong, in order to service the China Market.
Semiconductor Technology - ODIS Inc., a U.S. company, (an acronym for "OPEL Defense Integrated Systems"), designs a wide array of devices for military, consumer, commercial, and industrial applications. ODIS continues to develop gallium arsenide-based chip design processes having several potential major market applications, including: (i) infrared sensor arrays for military as well as Homeland Security monitoring and imaging, and (ii) the unique combination of optical lasers, and electronic control circuits on the same microchip for potential use in various military programs and potentially telecom applications such as, Fiber To The Home ("FTTH"). The use of gallium arsenide is a key material in ODIS's Planar Opto-Electronic Technology ("POET") process development for these products. ODIS has been awarded more than a dozen U.S. Department of Defense projects since 2000. These have and continue to support the development of ODIS's POET process, infrared sensing technology, optical/laser development and the combination of electronic circuits and lasers on the same microchip. ODIS remains active in this area with several recent projects underway with the U.S. Department of Defense and two major U.S. Defense Contractors. The Company believes that the POET Technology has the potential to impact the commercial and government market sectors in the future. In March 2011, a third party valuation of the POET Technology was received indicating a significant potential market value of $1.3B. BAE Systems independently produced an operational transistor on gallium arsenide wafers, independently validating a critical component of the POET process.
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 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.
Dated: August 26, 2011
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). They also include OPEL's belief that "POET has the potential to impact the commercial and government market sectors in the future". Such 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.
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.

Contacts:
OPEL
Pat V. Agudow
Vice President, Public Relations
[phone] x2612
[e-mail]
www.opelinc.com

ICR - Investor Relations
Gary Dvorchak, CFA
Senior Vice President
[phone]
[e-mail]

ICR - Public Relations
Theodore Lowen
Managing Director
[phone]
[e-mail]


SOURCE: OPEL Solar International Inc.
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