Third Party Valuation of POET Technology over $1 Billion– OPEL Solar International Inc. (“OPEL” or “the Company”) announced today. This worth is derived from a range of values; the median value being $966.6The Company will post a copy of a redacted version of the valuation on its website at, as well as on SEDAR at www.sedar.com, concurrent with the dissemination of this
NEWS RELEASE
OPEL Announces Third Party Valuation of its POET Technology

Shelton, Ct. March 2, 2011
that it is in receipt of a third party valuation of intellectual property developed by its U.S. affiliates OPEL, Inc.
and ODIS Inc. The Planar Opto Electronic Technology (“POET”), initially developed by Dr. Geoffrey Taylor
at the University of Connecticut and licensed to OPEL, Inc., is a semiconductor fabrication technology that
enables the dense packing of digital, analog, and optical circuits on a single gallium arsenide chip. The
technology now makes it possible to monolithically integrate a wide number of electronic and optoelectronic
functions in a single chip with higher speeds and reduced power consumption compared to Silicon CMOS. For
the same functionality, the chip size would be considerably reduced to approximately the size of half a person’s
thumb nail.
OPEL commissioned a valuation analysis of the POET Technology portfolio (“POET Technology”) by an
independent, third party valuation firm, Pellegrino & Associates, LLC. The Pellegrino firm performed an
analysis of the uses of the POET Technology, the sales it could achieve in its targeted end-markets and likely
margins if OPEL can complete its research and development activities successfully and the market adopts the
POET Technology. Using a number of valuation techniques and based on technical information provided to it
by the Company, the valuation firm has estimated that the POET Technology portfolio could be worth as much
as approximately $1 billion
million, while the mean valuation was reported at $1.31 billion.
Using the income approach to value, Pellegrino & Associates, LLC built a valuation model to determine the
economic income that might be possible from the potential exploitation of the POET Technology in several
prospective markets. Pellegrino & Associates, LLC used market data, revenue projections, investment data, and
cost data as from various sources, including from ODIS representatives, to determine the economic income
attributable solely to the POET Technology. Pellegrino & Associates, LLC then integrated the information into
a valuation model, accounting for the economic life of the POET Technology. Pellegrino & Associates, LLC
performed a royalty rate analysis to determine what the market may bear as a reasonable royalty rate for the
exclusive use of the POET Technology. Pellegrino & Associates, LLC developed a risk-adjusted discount rate
to discount forecast future free cash flows to determine a nominal value indication as of the appraisal’s
effective date.
To account for the uncertainty inherent in the valuation process, Pellegrino & Associates, LLC captured the
complex model interactions in the face of uncertain estimating assumptions using Monte Carlo simulation
techniques. This did not constrain the valuation model to any single value predictions of key values such as
royalty rates or costs. Pellegrino & Associates, LLC programmed the valuation model to recalculate repeatedly
to create a distribution of outcomes that Pellegrino & Associates, LLC analyzed. Pellegrino & Associates, LLC
used the range of values calculated by the model to come to a final determination. In complex situations that
involve uncertainty, this methodology helps to generate meaningful estimates that would otherwise be
impossible to model using discrete methods such as best-, expected-, and worst-case modeling. Pellegrino &
Associates, LLC used the median value from this simulation process as the fair market value for the POET
Technology.
www.opelinc.com
press release. Disclosure of certain information in the valuation would be seriously prejudicial to the