OPL..... www.sedar.com.
In addition, through ODIS Inc. (hereinafter referred to as “ODIS”), we design infrared sensor type
products for military and industrial applications. ODIS continues to develop gallium arsenide-based
processes and semiconductor microchip products having several potential major market applications:
infrared sensor arrays for Homeland Security monitoring and imaging along with the unique
combination of optical lasers, and electronic control circuits on the same microchip for potential
applications in various military programs and telecom applications. ODIS has been awarded several
US Department of Defense SBIR contracts since 2000 which have been supporting our POET process
development, infrared sensing technology, optical/laser development and the combination of
electronic circuits and lasers on the same microchip. ODIS continues to be active in this area with
several recent projects underway with the US Department of Defense and two major US defense
contractors.
2011:
46. In January, ODIS was awarded a development contract from the National Aeronautics and Space
Administration (“NASA”) that will involve a Phase I Award of $100,000 to develop Optoelectronic
Infrastructure of RF/Optical phased arrays.
47. In March, we announced it was in receipt of a third party valuation for its POET technology which
had been developed by its U.S. affiliate ODIS Inc.
48. In March, the 2MW order of December 2010 from its Chinese venture partner, OPEL Solar Asia,
for our HCPV solar panels and dual axis tracking systems, was increased to a 5MW order. Initial
deliveries started in Q3 2011 and will complete in 2012.
49. In March, we were awarded a contract to deliver a 35kW solar installation at the Aquarion Water
Company’s local water treatment facility. The installation will showcase OPEL’s TF-800 single
axis tracking system as well as the SF-45 dual axis tracker. Solar power is well suited to the power
usage of a water treatment facility and is expected to produce 10% of their power requirements.
Installation expected to complete in 2011. Aquarion may wish to expand its usage of solar power in
the future.
50. In April, we were awarded a contract to deliver a 125kW TF-800 single axis tracker order from
Greenlight Power Company for the first phase of a 1.4MW solar farm for a business park in
Maryland. The installation is completed.
51. In April, ODIS demonstrated an on-chip laser capability for the first time in gallium arsenide. This
proves ODIS’s POET technology is capable of producing a monolithic integrated circuit combining
both electronic and optical elements.
52. In May, we were awarded a turn-key solar installation of 95kW by the Town of Newtown, CT.
OPEL is using its TF-800 advanced single axis tracking system and silicon solar panels to power
Newtown’s waste water treatment facility. The installation is in progress.
53. In May, we were chosen to be the exclusive, worldwide supplier of trackers for Grape Solar, a
major supplier of solar panels. We intend to use Grape to supply some of our installations, like
Newtown, going forward.
54. In June, BAE Systems successfully produced working transistors on gallium arsenide wafers using
ODIS’s POET technology. This is the first step in validating the ability to commercialize products
developed using the POET technology, which is capable of integrating optical and electronic
circuits within the same chip.
55. In June, we signed an agreement with the second of China’s five utility companies, in June 2011,
for the delivery of its HCPV panels and trackers. This was done through the Chinese JV with
Ecotech, a relationship which is growing rapidly to meet the demands of the solar market in China.
This doubles the previous orders, by adding another 5MW of CPV and trackers, to be delivered in
late 2011 through 2012 to solar fields in Inner Mongolia.
56. ODIS has contracted with BAE Systems to produce a series of wafers from their foundry with
devices developed using the POET technology. The first wafer lot commenced in late August.
57. We have initiated Warranty Insurance coverage for our trackers and our trackers have passed
critical reviews by several independent engineering firms, all of which allow its trackers to be
“bankable” for commercial installations.
58. In August, OPEL changed its name to ‘OPEL Technologies Inc.’ and started trading on the TSXV
under the new name.
59. GrowthPoint Technology Partners was selected to provide us with strategic advice relative to
ODIS’ proprietary POET technology and how to optimize its value for the Company and its
shareholders.
60. In September, we completed the delivery of 480kW of its TF-800 single axis tracking system to
Conergy for an installation in California’s Central Valley to power a waste water treatment facility.
61. In September, OPEL entered into an Equity Line of Credit arrangement with Kodiak Capital Group
which, upon acceptance of a Prospectus with the Ontario Securities Commission, would allow the
Company to draw up to $10M over time, in exchange for shares of OPEL priced at the time of the
drawn-down. The draw-down will only occur if the funds are required to meet growth
opportunities.
62. Our TF-800 single axis tracking system receives the nod of approval from three independent
engineering firms for its structural integrity, wind tunnel testing, and technology assessment. The
TF-800 was found to meet or exceed the standards requirement of the American Society of Civil
Engineers and the American Institute of Steel Construction. We also secured Manufacture’s
Product Warranty Insurance provided by Energi Insurance Services. This all makes our trackers
bankable to a project investor.
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ii) Semiconductor Technology
OPEL, through ODIS Inc., a U.S. company, (an acronym for “OPEL Defense Integrated Systems”),
designs a wide array of devices for military, consumer, commercial, and industrial applications. ODIS
continues to develop gallium arsenide-based chip design processes having several potential major
market applications, including: (i) infrared sensor arrays for military as well as Homeland Security
monitoring and imaging, and (ii) the unique combination of optical lasers, and electronic control
circuits on the same microchip for potential use in various military programs and potentially telecom
applications such as, Fiber To The Home (“FTTH”). The use of gallium arsenide is a key material in
ODIS’s POET process development for these products. ODIS has been awarded more than a dozen
U.S. Department of Defense projects since 2000. These have supported and continue to support the
development of ODIS’s POET process, infrared sensing technology, optical/laser development and the
combination of electronic circuits and lasers on the same microchip. ODIS remains active in this area
with several recent projects underway with the U.S. Department of Defense and two major U.S.
Defense Contractors. ODIS believes that the POET technology which provides a unique chip
development platform will in the future have a significant impact on products for commercial and
government market sectors. Under the supervision of Dr. Geoffrey Taylor, the Chief Scientist of
ODIS built actual wafers containing multiple devices using the POET technology in June 2011. In
March 2011, a third party valuation of the POET technology was received indicating a significant
potential market value of the intellectual property of this technology. In June 2011, BAE Systems
independently produced operational transistors on gallium arsenide wafers, further validating critical
components of the POET process.
.............................................................................
ODIS designs infrared sensor type products for military and industrial applications. ODIS develops
gallium arsenide-based processes and semi-conductor microchip products having several potential major
market applications: infrared sensor arrays for Homeland Security monitoring and imaging along with the
unique combination of optical lasers, and electronic control circuits on the same microchip for potential
applications in various military programs, higher efficiency computing systems, and potentially telecom
for Fiber to The Home. ODIS chip design capabilities allow for optical and electronic signals to be used
on the same chip when necessary and allow for direct connection to optical fiber without conversion to
electronic signals
...........................
Outlook - We currently has active price quotations for its solar products of over $850M for multiple
projects to be delivered globally in 2012 and 2013. The size of these projects range in size from 1.5MW
to 250MW with multiple EPC partners. There can be no assurance that these price quotations will result
in installations or revenues to the Company. The growing market acceptance of our products are due to
the increasing effectiveness of our sales and marketing efforts. The projects on which the Company has
provided such price quotations has increased in size from our current average installation of 500kW -
2.5MW in 2011 to 10 - 20MW in size for future years.
...........................................
OPEL, through ODIS Inc. designs a wide array of devices for military, consumer, commercial, and
industrial applications. ODIS develops gallium arsenide-based chip design processes having several
potential major market applications, including: (i) infrared sensor arrays for military as well as Homeland
Security monitoring and imaging, and (ii) the unique combination of optical lasers, and electronic control
circuits on the same microchip for potential use in various military programs and potentially telecom
applications such as, Fiber To The Home (“FTTH”). The use of gallium arsenide is a key material in
ODIS’s Planar Opto-Electronic Technology (“POET”) process development for these products. The
development of ODIS’s POET process, infrared sensing technology, optical/laser development and the
combination of electronic circuits and lasers on the same microchip have been financed by SBIR
contracts. ODIS remains active in this area with several recent projects underway with the U.S.
Department of Defense and two major U.S. Defense Contractors. Under the supervision of Dr. Geoffrey
Taylor, the Chief Scientist of ODIS built actual wafers containing multiple devices using the POET
technology in June 2011. In June 2011, BAE Systems independently produced operational transistors on
gallium arsenide wafers, further validating critical components of the POET process. In August 2011,
BAE Systems ran a lot of five wafers using POET Technology. The chips that come from these wafers
will be tested to further validate the varied capabilities and devices developed utilizing the POET
Technology platform.
ODIS Development - Going forward, we plan to continue to make strategic investments in research and
development with a view to developing a broad chip design platform capable of producing a significant
number of new features, enabling our customers to capitalize on opportunities to produce leading edge
chip technologies for their target markets. |
