- News
3 October 2012
OPEL update on divestiture of solar operations
OPEL Technologies Inc of Shelton, CT, USA and Toronto, ON, Canada has given an update on its plans to divest its solar operations and to drive the monetization efforts of the POET platform technology of its ODIS Division.
The firm says that it continues to work with NSM (Northern States Metals) to conclude the agreement with them involving the sale of certain solar assets announced by the firm on 30 August 2012, and that both firms have agreed to extend the exclusivity period provided for in the agreement until 12 October 2012.
OPEL has raised $5.4m since June and has repaid and closed its credit facility with TCA Global Credit Master Fund LP. Furthermore, 90% of the firm’s unsecured debt has also been paid.
OPEL to sell solar assets to Northern States Metals
OPEL’s AGM confirms strategy to focus on POET technology and divest solar division
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