3 October 2011

OPEL appoints VP of North American sales

OPEL Technologies Inc of Toronto, Ontario, Canada, which makes high-concentration photovoltaic (HCPV) panels and solar tracker systems through its subsidiary OPEL Solar Inc and develops semiconductor devices and processes through US affiliate OPEL Defense Integrated Systems (ODIS Inc) of Shelton, CT, has appointed Jeffrey ‘Jay’ Johnson as VP of North American sales, responsible for leading the sales process for the USA and Canada. Johnson has been with OPEL Solar Inc since 2009, as director of sales for the Western Region of the USA.

“Jay’s broad experience in utility sales and renewable energy sales has already proven to greatly add to the capabilities of our sales team,” says CEO Leon M. Pierhal. “Through his sales results thus far in his tenure with OPEL, we welcome him to the management team, adding specific focus on the accelerating sales growth OPEL has been experiencing,” he adds.

Johnson has over 15 years of experience in sales, marketing and management, generally involving emerging utility markets. His expertise includes marketing of new product development, creating new service offerings and expanding markets within developing and mature industries. Prior to OPEL, Johnson held various director and senior management level positions in sales and management with CETX Energy Agency in Houston, TX as well as Akeena Solar in Los Gatos, CA. He began his career at SNK Realty, where he held positions of increasing responsibility over a period of 11 years as the firm grew from three employees to just over 200. Johnson received a Bachelor of Science degree in Finance from California State University, Chico as well as an MBA in Technology Management from the University of Phoenix.

As part of his compensation package, Johnson was granted incentive stock options, included in those disclosed below.

OPEL Technologies Inc has granted additional incentive stock options under its stock option plan to certain directors, officers and key consultants to purchase up to an aggregate of 2,153,000 common shares, representing 2.3% of the firm’s outstanding voting shares. Options granted to officers represent 46.5% of the total grants, and options to independent members of the board of directors represent 34.8%. The remaining options were granted to key consultants and employees. The stock options are exercisable at a price of CA$0.51 per share expiring 28 September 2021. There are currently 9,587,250 options outstanding and 92,158,421 voting shares outstanding.

The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every 6 months thereafter. The options were granted subject to provisions of the company’s stock option plan, which was approved by shareholders in June, and subject to the TSX Venture Exchange policies and applicable securities laws.


Visit: www.opeltechinc.com

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