TMCnet News
OPEL Heralds Independent Validation of a Critical Component of the POET Semiconductor Platform by BAE Systems(Market Wire Via Acquire Media NewsEdge) SHELTON, CONNECTICUT and TORONTO, ONTARIO -- (MARKET WIRE) -- 06/14/11 -- OPEL Solar International Inc. (TSX VENTURE: OPL) ("OPEL") and ODIS Inc. (OPEL Defense Integrated Systems), announced today that a key element of the Planar Optoelectronic Technology ("POET") semiconductor platform developed by ODIS Inc., its wholly-owned U.S. affiliate company, has been successfully validated by a third party, BAE Systems Electronic Solutions ("BAE Systems"), culminating in successful fabrication of operational transistor devices. POET enables monolithic fabrication of integrated circuit ("IC") gallium arsenide devices containing both electronic and optical elements on a single wafer. Perfected over 18 years by Chief Scientist Dr. Geoff Taylor and his ODIS team, POET is protected by numerous patents and patents pending. Offering devices with dramatically lower costs, increased speed, density, and reliability, POET could potentially impact a broad range of mobile and server applications. BAE Systems entered into a contract with ODIS in 2008, with the intent of replicating specific POET devices in a third-party environment at BAE Systems Reed Microelectronics Center. Over this period, with indirect overview by ODIS staff, BAE Systems engineers methodically tested and confirmed critical electrical elements of POET sub-process steps for the transistors. In the near future, it is intended that these electrical structures will be integrated with the required optical structures. "We are thrilled that a company with the technical stature of BAE Systems has validated key elements of the outstanding work done by Dr. Taylor and his team," noted Leon M. Pierhal, CEO of OPEL. "With this first independently-manufactured transistor, we have achieved a milestone to the industry's long-held vision of monolithically fusing photonics and electronics." With an accelerated technical and commercialization roadmap, OPEL is actively addressing future arrangements with device manufacturers, where its platform could be optimized to address device applications based on POET's unique disruptive technology. Today's announcement of a key electronic process validation by BAE Systems brings OPEL a step closer to fully realizing the value of the POET process. About OPEL Solar International Inc., OPEL Solar, Inc. and ODIS Inc. With operations in Shelton, CT and head office in Toronto, Ontario, Canada, OPEL, 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. OPEL, 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. OPEL 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, please visit OPEL's website at www.opelinc.com. 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 OPEL's anticipated operational plans and activities including the revenue and growth outlook. They also include OPEL's belief that "POET could potentially impact a broad range of mobile and server applications, offering devices with dramatically lower costs, increased speed, density, and reliability." and that "that POET's electrical structures will be integrated, in the near future, with the required optical structures." 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 future growth, plans for and completion of projects by OPEL's third party relationships, 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 OPEL's anticipated projects, delays or changes in plans with respect to the development of OPEL's anticipated projects by OPEL's third party relationships, risks affecting OPEL's ability to execute projects and market its solar products, risks inherent in operating in foreign jurisdictions, 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. Contacts: OPEL Pat V. Agudow Vice President, Public Relations +1 (203) 612-2366 x2612 [email protected] www.opelinc.com ICR - Investor Relations Gary Dvorchak, CFA Senior Vice President +1 (310) 954-1123 [email protected] ICR - Investor Relations Theodore Lowen Managing Director +1 (646) 277-1238 [email protected] Source: OPEL Solar International Inc. and ODIS Inc. |