big ideas for global investors Search
   Members       Sign-up       Newsfeeds        Companies        Stock Directories       Research       Video       Funding   

Solar Stocks; OPEL Solar International (TSX VENTURE:OPL) Files Outstanding Quarter 1, 2011 Financials

Category: Investment, Solar, Renewable Energy

Visit this company:

SHELTON, CONNECTICUT and TORONTO, ONTARIO - June 8, 2011 ( renewable energy/green newswire) - OPEL Solar International Inc. (TSX VENTURE:OPL) ("OPEL" or "the Company"), a leading global supplier of high concentration photovoltaic ("HCPV") solar panels and ground-based and rooftop tracker systems, today announced the most successful revenue quarter in the Company's history. OPEL has filed on SEDAR its Financial Statements and Management's Discussion and Analysis ("MD&A") for the quarter ended March 31, 2011 (collectively the "Financials").

OPEL reported revenue of $1.5 million in the first quarter of 2011, a number that exemplifies growth approaching almost all of OPEL's 2010 revenue of $1.6 million. The quarterly result surpasses the same period of 2010 by four times. Prudently however, OPEL continues to manage operating expenses for the quarter. Even though it made directional changes to meet market and economic requirements, as of March 31, 2011, the Company had $6.7 million of cash and short term investments and continues with no debt.

OPEL Solar credits numerous business achievements for the superb quarter. The outstanding quarter began with revenue received from the order to install a 446kW solar power plant for Toray Plastics in Rhode Island. Upon its completion later in 2011, this project will be the largest solar field in the State of Rhode Island, our solar technology was Toray's preferred choice, and we have expectations of its use at other Toray facilities worldwide.

This project announcement was followed by the strategic decision to form a Joint Venture with Ecotech Environmental Technology Ltd, of Hong Kong, creating OPEL Solar Asia Ltd ("OSA"). By entering into one of the fastest growing solar markets in the world today, OSA will install its HCPV solar panels and dual axis solar trackers in China. When the initial purchase order for OPEL Solar Asia for HCPV panels and trackers was received it had been increased to 5 Megawatts ("MW"), from the original 2 MW announcement.

OPEL made significant inroads into the U.S. utilities market by teaming with Aquarion Water Company ("Aquarion") to provide its trackers to a water treatment facility in a groundbreaking solar energy installation on the utilities site to generate peak electric power for the treatment plant. This transaction represents an opportunity for OPEL to possibly partner in other future solar projects with Aquarion that would be tagged as part of Aquarion's 'carbon footprint reduction program.'

"To meet the rapidly changing economic conditions and to address new emerging markets, OPEL adjusted its marketing approach to capture new business. The strategic redirection of OPEL Solar that began in the second half of 2010 is beginning to bear fruit for us now," stated Leon M. Pierhal, CEO of OPEL Solar. "The strong revenue result in this quarter is the start of what we believe to be a long-term growth pattern for revenue during the latter half of calendar year 2011 and on into 2012. It is our plan to vigorously forge ahead with our brownfield and municipality initiatives to add to the revenue potential of OPEL," Pierhal emphasized.

Pierhal further added, "With the recent unrest in North Africa and the Middle East, OPEL's aggressive sales activates for these regions were curtailed. However, because of the high demand for CPV, securing solar deployment in this region of the world remains a key business goal; therefore, new strategic partnerships or joint ventures are being considered."

The future success for the Company cannot focus only with the solar side of the business. In February, OPEL announced the commercial possibilities of its POET technology, developed by its affiliate company, ODIS, Inc., with a valuation of its intellectual portfolio which was projected at a mean value of $1.3 billion as more fully discussed in the Company's news release dated March 2, 2011. POET has been a development technology of choice for U.S. government and military branches, but now OPEL was able to showcase its breakthrough potential to the commercial semiconductor markets through this valuation study. "POET is a complex platform technology in incubation. We hope to validate its extraordinary capabilities soon and be able to continue to showcase its successes," Mr. Pierhal commented.

Michael McCoy, OPEL's Chief Financial Officer, capped the quarter's success with these comments. "Our 2010 bookings are beginning to transform into revenue. Over the past several years, we have come to understand the length of time it may take to close a sale with a client. After the order, there is a lengthy cycle that includes the permitting process, land preparation, agreements with power companies and other possible State or Federal issues which we have determined could be 12-18 months or longer before there is revenue generation. With this experience now in mind, OPEL is poised to participate as a market leader in solar energy development worldwide, which is a market that has an exponential rate of growth ahead in 2011 and beyond." McCoy concluded.

About OPEL Solar International and OPEL Solar, Inc. and ODIS, Inc.

With operations headquartered in Shelton, CT and head office in Toronto, Ontario, Canada, the Company, through OPEL, Inc., designs, manufactures and markets high-concentration photovoltaic panels, dual- and single-axis trackers, and related 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 been awarded 35 patents and has 12 patents pending, including for its POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and low-power 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 the Company's website at


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 "the strong revenue result in this quarter is the start of what we believe to be a long-term growth pattern for revenue during the latter half of calendar year 2011 and on into 2012."

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

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.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info:

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Please read privacy policy:

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner


Investor Ideas © 2000 - 2015®, ECON


login | logout | about us | contact | disclaimer / disclosure |
partners / links | job search | privacy policy |
advertise | trade | sitemap |