2 August 2011

Grasset leaves OPEL’s board 

OPEL Solar International Inc of Toronto, Ontario, Canada, which makes high-concentration photovoltaic (HCPV) panels (and both roof- and ground-based solar tracker systems), says that, due to unanticipated personal circumstances, Chris Grasset has withdrawn from serving on its board of directors.

Grasset’s nomination to the board of directors (on 12 May) was only approved by shareholders at their annual general meeting (AGM) on 21 June. However, he reiterates his belief that the firm’s efforts will result in strong growth in both its solar and semiconductor lines of business. The board does not intend to fill the vacancy at this time.

At the time of his nomination to the board, Grasset was VP, business affairs for Covalon Technologies and a member of the Law Society of Upper Canada. Previously, he co-founded the technology business law firm Grasset/Fleisher LLP (subsequently merged with a major law firm) and the consultancy firm KBE International, focused on knowledge-based enterprises.

OPEL’s management and board say that they continue to be committed to the goal of increasing long-term shareholder value, and underlines its confidence in the current strategy for the firm's solar business (including greater vertical integration, development of a brownfields initiative, and its burgeoning systems rollout in North America and China) and for the device development program of its Planar Optoelectronic Technology (POET) — developed by US affiliate OPEL Defense Integrated Systems (ODIS Inc) of Shelton, CT) — which is a semiconductor manufacturing platform that enables the monolithic fabrication of gallium arsenide (GaAs) integrated circuits containing both electronic and optical elements on a single wafer.

OPEL says that it will shortly provide updates of its growing activities in both the solar and semiconductor sectors towards these goals.

Tags: OPEL Solar

Visit: www.opelinc.com