OPEL Solar, Inc. and SOLYPAC Technology Sign an International Dealer Agreement
December 21 2009 - 2:30PM
Marketwired
OPEL Solar, Inc., a leading global developer and supplier of high
concentration photovoltaic ("HCPV") and other solar products,
including ground-based and rooftop tracker systems, today announced
it has entered into an International Dealer Agreement with SOLYPAC
Technology Co., Ltd. based in Seoul, South Korea. The Agreement
makes available to SOLYPAC the complete OPEL Solar product line to
supply utility scale projects. Especially important to this
Agreement are the Mk-I HCPV panel and the array of single and dual
axis trackers that, when used with the HCPV panels, have the
potential to increase photovoltaic yields of solar farms by up to
40 percent.
"OPEL Solar is very pleased to have signed the Dealer Agreement
with SOLYPAC," said Frank Middleton, COO of OPEL Solar. "It expands
our international reach to supply utility scale solar projects with
OPEL's advanced solar technology and the increased efficiency that
concentration photovoltaics and tracking provides."
"Our International Dealer Agreement with OPEL Solar is a
highlight for SOLYPAC because its full product line opens the door
to bring HCPV and PV panels installed on its tracker products to
South Korean and other international market places in which we have
active business proposals, including the United States," said JK
Kim, President and Chief Strategy and Marketing Officer of SOLYPAC
Technology.
In addition to SOLYPAC offering OPEL Solar's full product line
of HCPV panels and trackers, OPEL will also provide technical
support for the installed projects. OPEL Solar provides PV panels
to be used with OPEL's trackers to meet the needs of regions with
low solar irradiance, generating more energy than fixed mounted
installations.
About OPEL Solar, Inc. and OPEL International Inc.
With operations headquartered in Shelton, CT and Toronto,
Ontario, Canada, OPEL Solar, Inc. designs, manufactures and markets
high performance concentrating photovoltaic ("HCPV") panels to
transform solar energy into electricity for worldwide application.
OPEL Solar's high performance photovoltaic concentrating panels
generate up to 40 percent more kilowatt-hours than conventional
flat plate silicon solar panels, resulting in more cost-effective
electricity generated from the sun. OPEL Solar also markets a
complete line of dual and single axis solar trackers to mount solar
panels for optimum power output. OPEL also designs infrared sensor
type products for military and industrial applications.
A leader in gallium arsenide and solar photovoltaic technology,
the Company has been awarded 39 patents and has 12 more patents
pending. OPEL's common shares trade on the TSX Venture Exchange
under the symbol "OPL". For more information about OPEL Solar,
Inc., please visit the Company's website at www.opelinc.com. OPEL
Solar, Inc. is a subsidiary of OPEL International Inc. (TSX
VENTURE: OPL).
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.
The TSXV has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: OPEL Solar, Inc. Pat V. Agudow Vice President, Public
Relations (203) 612-2366 Ext 2612 p.agudow@opelinc.com WT Blase
& Associates, Inc. Bill Blase, Cathy Loos, or Stephanie Kuffner
Media Relations (212) 221-1079 solar@wtblase.com
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