OPEL Technologies Inc. Secures Financial Backing from Silicon Valley Bank
November 28th, 2011
Shelton, CT and Toronto, ON, November 28, 2011 – OPEL Technologies Inc. (TSX-V: OPL) (“OPEL” or “the Company”), a leading global supplier of high concentration photovoltaic (“HCPV”) solar panels and solar tracker systems and a semiconductor device and process developer, announces it has secured a line of credit for $5 million from Silicon Valley Bank (“SVB”) in Massachusetts. “We are pleased to add this line of credit to our financial options,” said Michael McCoy, Chief Financial Officer of OPEL Technologies. “The credit line will be utilized to fund U.S. and qualified foreign receivables of the Company.”… Read the Full Press Release
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