STORRS, CONNECTICUT and TORONTO, ONTARIO -- (Marketwired) -- 06/27/13 -- OPEL Technologies Inc. (TSX VENTURE: OPL) (OTCQX: OPELF) ("OPEL" or "the Company") announces that it has achieved Milestone 6 in its development roadmap of the proprietary planar optoelectronic technology (POET) platform for monolithic fabrication of integrated electronic and optical devices on a single semiconductor wafer, a next-generation alternative to silicon complementary metal-oxide semiconductor (CMOS) technology.
The new milestone is the integration of the complementary inverter, the basis for all on-chip logic. Specifically, OPEL successfully demonstrated complementary heterostructure field effect transistor (HFET) based inverter operation using the POET process.
Mr. Peter Copetti, Executive Director of OPEL, and Chair of the Special Strategic Committee (SSC) for commercialization of the POET platform, noted: "The SSC deemed Milestone 6 to be critical for our commercialization activities, and staff focused on this milestone. That we achieved Milestone 6 so quickly spotlights the caliber of the POET team, and our ability to execute and to pivot to industry needs."
Mr. Copetti added: "Due to ongoing needs of the SSC, other pre-determined milestones and dates may have to change without notice - but any changes will be consistent with our commercialization mandate."
The achievement of Milestone 6 obviates the need for Milestone 5 (3/4 terminal switching laser, Q2-2013). Milestone 6 was originally scheduled for Q3-2013, and its achievement in Q2 puts OPEL ahead of its targeted development milestones.
"To serve the digital marketplace currently dominated by CMOS, complementary functions in GaAs/InGaAs are essential," said Dr. Geoffrey Taylor, Chief Scientist. "With this milestone, this functionality has been demonstrated on a POET device."
The OPEL lab demonstrated both nHFETs and pHFETs, with symmetrical positive thresholds, as an integrated circuit with thresholds of +/- 0.5V and VD=2V for 1um gates. Going forward, logic circuits will be integrated with in-plane lasers and detectors with the goal of reducing linewidths towards CMOS state-of-art circuits.
Coupled with achievement of its previous milestones - including demonstration of the vertical cavity laser - POET extends the capability of its unique monolithic platform.
Mr. Leon Pierhal, President and Chief Executive Office of OPEL, added: "We are extremely proud of this achievement. This further underlines the capacity that POET has to be a disruptive technology, able to address current and future challenges facing the semiconductor industry, and provides the SSC with further momentum for its initiatives."
By enabling increased speed, density, reliability, power efficiency, and much lower bill-of-materials and assembly costs, POET provides a new technology direction and opportunity for the semiconductor industry.
POET will allow continued advances of semiconductor device performance and capabilities for many years, overcoming the current power and speed bottlenecks of silicon-based circuits, and will change the future development roadmaps of a broad range of semiconductor applications including mobile and wearable devices, computer servers, storage arrays, imaging equipment, and networking equipment.
About OPEL Technologies Inc.
OPEL is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory; and through OPEL Solar, Inc., provided systems for energy applications. The Company has 32 patents issued and 6 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL" and on the OTCQX under the symbol "OPELF". For more information please visit our websites at www.opeltechinc.com and for ODIS at www.odisinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning OPEL's anticipated operational plans and activities. Specifically, they include OPEL's statements that "(i) Going forward, logic circuits will be integrated with in-plane lasers and detectors with the goal of reducing linewidths towards CMOS state-of-art circuits; (ii) This further underlines the capacity that POET has to be a disruptive technology, able to address current and future challenges facing the semiconductor industry, and provides the SSC with further momentum for its initiatives; (iii) By enabling increased speed, density, reliability, power efficiency, and much lower bill-of-materials and assembly costs, POET provides a new technology direction and opportunity for the semiconductor industry; and (iv) POET will allow continued advances of semiconductor device performance and capabilities for many years, overcoming the current power and speed bottlenecks of silicon-based circuits, and will change the future development roadmaps of a broad range of semiconductor applications including mobile and wearable devices, computer servers, storage arrays, imaging equipment, and networking equipment".
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by OPEL's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of OPEL's anticipated projects, delays or changes in plans with respect to the development of OPEL's anticipated projects by OPEL's third party relationships, risks affecting OPEL's ability to execute projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital.
Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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