OPEL International Signs Distribution Agreement
May 29 2008 - 2:32PM
Marketwired
SHELTON, CONNECTICUT and TORONTO, ONTARIO (TSX VENTURE: OPL), a
leading global developer and supplier of concentrating photovoltaic
panels (CPVs), today announced it has entered an agreement with
Solarfun Power Holding Co. Ltd. to market Solarfun's full line of
solar panels in North America and Brazil.
The solar panels are listed with both UL (Underwriters
Laboratories Inc.) and California's Energy Commission, making them
eligible to participate in the solar incentive programs of various
states in the US. These panels also integrate seamlessly with
OPEL's product line of solar trackers for ground and roof top
installation. When installed in conjunction with OPEL's line of
solar trackers, the power output of the panels can be increased as
much as 40% when compared with fixed mounted installations, thus
resulting in a faster payback and lower kilowatt-hour costs.
"The addition of the Solarfun panels to our product line allows
us to offer our customers a complete range of solutions that can
better meet the needs of their applications," said Frank Middleton,
Vice President of Marketing for OPEL. "The combination of the
Solarfun panels and our roof top mounted trackers provide customers
with a cost effective solution to maximize the use of flat roof
tops to generate solar electricity."
"This combination is especially attractive in the Northeast
where climatic conditions result in fewer sunny days than in places
like the US Southwest," added Mr. Middleton. "We believe that we
now have a very compelling product offering for schools in the
Northeast who are looking to reduce electricity costs in an
environmentally responsible manner."
"Our partnership with OPEL opens up excellent market potential
for our products", Ocean Yuan, Senior Vice President of Solarfun
Power Holdings, said. "OPEL's presence in the North American market
provides Solarfun with the potential for a rapid expansion into an
important market. We're very excited and looking forward to
expanding our mutually beneficial relationship, as the use of solar
power continues to grow dramatically around the world."
About OPEL International
With operations headquartered in Shelton, CT, OPEL designs,
manufactures and markets innovative, state-of-the-art solar
technology products designed to convert solar energy into
electricity - at the least possible cost and greatest efficiency.
The Company's products are based on technology developed in
cooperation with the University of Connecticut (Storrs, CT) and the
Canadian National Research Centre (Ottawa, ON). A leader in gallium
arsenide and solar photovoltaic technology, the Company has been
awarded 23 patents and has 23 more patents pending. 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.
About Solarfun
Solarfun Power Holdings Co, Ltd. manufactures ingots, PV cells,
modules and supplies solar system integration services in China.
The Company produces both monocrystalline and multicrystalline
silicon cells and modules, and manufactures 100% of its modules
with in-house produced PV cells. Solarfun sells its products both
through third-party distributors and directly to system
integrators. The Company was founded in 2004 and its products have
been certified to TUV and UL safety and quality standards.
Solarfun is located outside Shanghai in China. For more
information on Solarfun, please visit their web site at
www.solarfun.com.cn.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Investors are cautioned that except for statements of historical
facts, certain statements contained in this news release may
include forward-looking information with respect to the Company.
Such forward-looking 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.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy securities in the United States.
The Company's securities have not been and will not be registered
under the United States Securities Act of 1933, as amended or any
state securities laws and may not be offered or sold within the
United States or to any U.S. Person unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
The TSXV has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: Opel International Inc. Michael McCoy Chief Financial
Officer (203) 612-2366 Ext 2229 Email: m.mccoy@opelinc.com Opel
International Inc. Philip Koven Investor Relations (416) 447-4740
Ext 235 Email: invest@opelinc.com Website: www.opelinc.com
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