OPEl International Announces Solar Field Installation in the Czech Republic
OPEL International, Inc. (TSX-V:OPL), a leading global developer and supplier of high efficiency concentrating photovoltaic (CPV) panels, today announced it has entered into an agreement with ENERGY 21 for a series of installations.
News Release
OPEL International Announces Solar Field Installation in the Czech Republic
Toronto, November 15, 2007 - OPEL International Inc. (TSX-V:OPL), a leading, global developer and supplier of high efficiency concentrating photovoltaic (CPV) panels, today announced that it has entered into an agreement with ENERGY 21 for a series of installations of OPEL's state-of-the-art CPV panels in Central Europe.
Under the terms of the agreement, ENERGY 21 will install progressively larger systems in the Czech Republic leading to the installation of its first large solar farm in 2008 and 2009. The systems will use OPEL's Mk-I high concentration CPVs in combination with FEiNA's solar trackers that OPEL will supply under the provisions of its OEM agreement with FEiNA.
"We are very excited about this opportunity to deliver our products into service in Europe, especially with a company with the technology vision that ENERGY 21 has," said Frank Middleton, Vice President of Marketing for OPEL International. "With the price of crude oil reaching record levels, solar energy continues to be an increasingly attractive, and competitively priced renewable energy resource."
ENERGY 21 and OPEL have been working together for several months evaluating ENERGY 21's requirements for photovoltaic systems and concluded that OPEL's Mk-I CPV represented the best possible alternative in terms of efficiency and economics for this market.
"After extensive research of the available solutions in the market place, we concluded that the Mk-I had the necessary leading edge technology we were looking for to support our implementation of solar fields in Central Europe," said Tomas Buzrla, CEO of ENERGY 21.
About OPEL
OPEL International Inc. 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. A public company, Opel trades on the Toronto Venture Exchange. For more information about OPEL, please visit the company's website at www.opelinc.com.
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OPEL International Announces Solar Field Installation in the Czech Republic
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About ENERGY 21
ENERGY 21 focuses on the building and operating of solar photovoltaic power plants. In 2007, ENERGY 21 is carrying out three solar photovoltaic projects with a total output of 2.5 MW (megawatts) in the Czech Republic. In 2008, the company plans to build solar photovoltaic projects totaling 60MW (megawatts) within Central Europe. For more information about ENERGY 21, please visit the company's website at www.energy21.cz
Dated: November 15th, 2007
ON BEHALF OF THE BOARD OF DIRECTORS
{Signed}
Michel Lafrance, Secretary
For inquiries please contact:
Bill Blase or Cathy Loos Michael C. McCoy, C.F.O
W.T. Blasé & Associates, Inc. Tel: 203-612-2366 ext 2229
Tel: 212-221-1079 Fax: 203-944-0800 or 416-861-0749
Email: info@wtblase.com Email: m.mccoy@opelinc.com
The TSXV has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
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.
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