OPEL Technologies Seeks to Dispel 'Rumors'

OPEL Technologies Inc., with corporate offices in , has issued a statement to “dispel” a rumor that it withheld material information from investors regarding the development of a device for NASA that normally would be disclosed under SEC regulations.

As per a March 2 press release, the company, which makes solar tracker systems and other solar related products, as well as semiconductor technology for related devices, acknowledges that NASA “has allocated certain funds for OPEL under the Small Business Innovation Research (SBIR) program.”

OPEL says it has been in ongoing discussions with NASA regarding the development of a certain device. However the device has not yet been developed and the information found on the Internet by shareholders was released prematurely, the company said.

“If and when such SBIR negotiations are concluded and the SBIR is officially granted, OPEL will issue a press release on a timely basis, as it will with respect to any other material information,” the company said in its statement. “Management shares with OPEL's shareholders their frustrations and disappointment with OPEL's current share price, which is the result of normal market forces.”

OPEL Technologies Inc., with offices at 3 Corporate Drive, recently completed installation of a tracker-based solar energy system at the 's D.W. Loiselle Water Treatment Plant at in Shelton.

According to a January press release, construction of the facility, which employs both models of solar trackers OPEL makes, the TF-800 single-axis tracker and the SF-45 dual-axis tracker, began in September of 2011.

Both Aquarion and OPEL plan to hold a ceremony to mark the completion and activation of the new system “after the winter season,” the release states.