OPEL Solar Inc. and OPEL Technologies Inc. (TSX VENTURE: OPL)
(collectively "OPEL" or "the Company"), a leading global supplier
of high concentration photovoltaic ("HCPV") solar panels and solar
tracker systems and a semiconductor device and process developer,
announced today that it has secured a warranty agreement with
Energi Insurance Services and has completed an independent tracker
technology assessment conducted by BEW Engineering, together with a
complete professional engineering validated structural analysis and
wind tunnel testing with both Lauren Engineers and Constructors,
Inc. and Rowan Williams Davies and Irwin Inc. Together, these
achievements provide OPEL Solar customers and partners with
complete independent certification and warranty insurance for
OPEL's hallmark TF-800 solar tracking systems as the product of
choice in the growing utility scale solar energy industry.
The signing of the agreement with Energi Insurance Services,
Inc. ("Energi") is to purchase Energi's Manufacturer's Product
Warranty ("MPW") Insurance. This coverage will provide an insurance
backstop to OPEL's warranty on the TF-800 solar tracking systems.
OPEL's solar trackers have a five-year limited warranty with an
optional extension to ten years of coverage. With Energi's warranty
insurance coverage, OPEL Solar customers gain additional protection
against materials and equipment and get the added confidence of a
rapid and complete system fix, if needed.
Significant validations for market and financing attractiveness
of the TF-800 tracker series came in the form of two assessments of
the tracker's endurance in high winds of 90 mph. Both Lauren
Engineers and Constructors, Inc. ("Lauren") and Rowan Williams
Davies and Irwin, Inc. ("RWDI") performed the stringent wind
testing. Lauren did an independent structural wind analysis via
computer modeling. RWDI did live wind tunnel tests to validate the
design against actual wind forces. In both company test procedures,
the TF-800 met and exceeded the requirements according to
applicable standards of the American Society of Civil Engineers and
the American Institute of Steel Construction. OPEL further sought
and received a technology assessment for its TF-800 single axis
tracker, as well as the underlying engineering fundamentals of the
TF-800 solar tracker, from BEW Engineering.
Testimony to live experience with the TF-800 tracker
withstanding high winds came with the recent Hurricane Irene, a
large and powerful Atlantic hurricane that left extensive flood and
wind damage along its path through the Caribbean, the United States
East Coast and as far north as Atlantic Canada. Two of OPEL Solar's
tracker installations withstood the brunt of Irene's winds with no
damage. The installations were at a solar farm for Greenlight Power
located on Maryland's Eastern Shore and at Toray Plastics U.S. in
Rhode Island.
"Product warranty and structural validations of the OPEL's
TF-800 tracker add another level of comfort and security for
consumers and end purchasers of our advanced solar products.
Particularly, with Energi's MPW insurance coverage, purchasers can
be confident that the warranties supplied with the OPEL trackers
will be supported and backed-up," said Leon M. Pierhal, CEO of OPEL
Technologies.
The TF-800 tracker series of ground-mounted single axis trackers
have proven to be very attractive commercially because of the ease
of installation and their reverse tracking ability to avoid
shadowing from adjacent trackers. The versatility of the solar
trackers allows the use of any solar panels, flat panel or
concentrated panels, currently being deployed on commercial and
utility scale projects, making it solar panel indifferent and an
ideal selection of most solar generation installations. The
features of the TF-800 tracker products also favorably impact the
installation as well as the operation and maintenance system
("O&M") of a solar power plant. The TF-800 tracker can be
assembled by two people using just basic hand tools. The wireless
tracker network control technology incorporated into OPEL's TF-800
solar tracker product line helps lower the upfront construction
costs while allowing tracker level monitoring. A solar generation
plant owner is able to monitor the solar field remotely, including
modifying the position of any one or all of the trackers in an
installation. This capability reduces installation costs, O&M
expenses, increases efficiency and helps maintain optimal
performance.
About Energi Holdings Inc. and Energi Insurance Services
Inc.
Energi Holdings, Inc. is a Delaware based holding company that
provides specialized insurance and risk management solutions to
energy firms engaged in targeted market segments, through a wholly
owned subsidiary Energi Insurance Services, Inc., (a Massachusetts
Insurance Brokerage & Program Administration Company). Founded
in 2005 by leading insurance professionals and energy industry
leaders, Energi is licensed in all 50 states. Please visit the
website at www.energi.com.
About Lauren Engineers & Constructors
Lauren Engineers & Constructors, under its parent company
The Lauren Corporation, is a leading EPC contractor serving power
and industrial clients. Lauren is an ENR Top 400 Contractor with
offices throughout the United States and Canada.
Lauren represents a work-in-progress aimed at continually
becoming a better, more competitive Contractor of Choice in our
target markets. Since its beginnings over 25 years ago, the company
has grown from a small, single-office specialty contractor to
become a Top 400 Contractor. This growth process has brought ample
change, but the cornerstone commitments have remained the same:
Integrity, Safety, Quality, and Performance. These commitments,
along with a focus on customers and employees, have allowed Lauren
to secure projects and develop strong relationships with key
customers, such as: Lauren Engineers & Constructors has over
1,000 employees and is licensed in 39 states. With offices in
Texas, Tennessee, Georgia, and throughout Canada (KSI, Inc.),
Lauren is equipped to provide customers with a full range of
high-quality, cost-effective, in-house engineering and construction
services. For more information please visit the website at
www.laurenec.com.
About Rowan Williams Davies and Irwin Inc. (RWDI)
RWDI is a unique consulting firm that uses an array of
engineering, computer and scientific capabilities to help designers
create comfortable environments and high performance buildings and
structures for all of the world's climates.
Our experts collaborate effectively with architects, engineers,
planners and developers on integrating design issues such as
sustainability, wind, sun, snow, sand, ventilation and cooling, air
quality, noise, acoustics, vibration, energy, daylighting,
renewables, structural dynamics, motion control, and other unique
and demanding design issues.
Our involvement helps clients save money, save time, reduce risk
and achieve designs with higher levels of performance overall.
With substantial resources in seven countries, we are accessible
and responsive - using our experience, four wind tunnels, computer
clusters and advanced building-science software - to help our
clients achieve greater success. For more information please visit
the website at www.rwdi.com.
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 our websites at www.opelsolar.com; and
www.opeltechinc.com; and for ODIS at www.odisinc.com.
Dated: September 19, 2011
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.
Contacts: OPEL Pat V. Agudow Vice President, Public Relations +1
(203) 612-2366 x2612 p.agudow@opelinc.com ICR - Investor Relations
Gary Dvorchak, CFA Senior Vice President +1 (310) 954-1123
gary.dvorchak@icrinc.com ICR - Public Relations Theodore Lowen
Managing Director +1 (646) 277-1238 ted.lowen@icrinc.com
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