Opcon, the energy and environmental technology Group, holds its Annual General Meeting

Opcon, the energy and environmental technology Group, holds its Annual
General Meeting

Opcon AB held its Annual General Meeting on Wednesday 4 May 2011 at
Citykonferensen in Stockholm.

Rolf Hasselström, President and CEO of the Opcon Group, said that 2010
was a difficult year for the company, mainly due to the weak investment
climate and problems within the Swedish bioenergy business.

“It was a tough period. We are now carrying out a major savings and
restructuring programme that will reduce costs by SEK 35-40 million in
2012. Meanwhile, the start of the second quarter has been positive with
several important developments, not least the collaboration that has
started with Baosteel to take Opcon Powerbox onto the Chinese market,
and the recent allocation decision by Göteborg Energi that looks like it
will result in a record SEK 80 million order. Alongside the launch of
our savings and restructuring programme this means that we consider we
have entered a new period when profitability will improve while sales
grow,” says Rolf Hasselström.

The Annual General Meeting voted in accordance with the Board's proposal
that the Board shall comprise six members with no deputies, and
re-elected Mats Gabrielsson, chairman, Ulf Ahlén, Kenneth Eriksson, Rolf
Hasselström and Bengt E Johnson as Board members.

Bill Tunbrant, 60, from Strängnäs, Sweden, was voted onto the Board
replacing Nina Linander who declined re-election. Bill Tunbrant is a
civil engineer who graduated from Stockholm's Royal Institute of
Technology and who has an industrial background that includes having
been CEO of companies in various sectors. He has international
experience and has worked in China. Bill Tunbrant also has extensive
experience of directorships and he has had over 20 board assignments,
including a spell with Nibe AB.

The employee representatives on the Board are Maurizio d'Agostino for
the IF Metal trade union and Karin Hansen for the Unionen trade union.

The following is a summary of the other key decisions made at the
meeting, all of which were in accordance with the Board's proposals.

The income statements and balance sheets of the Group and parent company
were adopted, and the Board and CEO were discharged from liability for
the 2010 financial year.

The fees for the chairman of the Board and Board members, as well as
guidelines for remuneration to the CEO and other senior executives, were
adopted.

Opcon's nominations committee was re-elected. It comprises Anders
Thorendal, Mats Gabrielsson, Peter Wahlberg and Per Egeberg.

As a part of an incentive scheme, Opcon will issue at most 200,000
subscription options, with each option giving entitlement to one share
in Opcon AB, for senior executives of the Opcon Group. The decision of
the meeting was unanimous.

As a part of another incentive scheme, Opcon will issue at most 200,000
subscription options, with each option giving entitlement to one share
in Opcon AB, for current and future Board members of Opcon AB. Mats
Gabrielsson and Rolf Hasselström will not be included in this allocation
of options.  The decision of the meeting was unanimous.

Opcon will issue 2,200,000 subscription options, which in deviation from
preferential rights for existing shareholders will be subscribed for by
GEM Global Yield Fund Limited. The reason for deviating from
preferential shareholder rights is to strengthen Opcon and raise new
capital.  One subscription option gives the right to subscribe for one
new share in the company at a subscription price of SEK 24 per share.
The decision of the meeting was unanimous.

The Board was authorised to make a decision on one or more occasions up
until the next Annual General Meeting concerning the issue of new shares
and/or issue of convertibles and/or subscription options. Through such
decisions supported by authorisation, the share capital could increase
by at most SEK 40,000,000 and at most 8,000,000 shares. The purpose of
the authorisation is to give the Board freedom of action in connection
with company acquisitions and raising of capital. The decision of the
meeting was unanimous.

For further information, please contact

Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. +46
8 466 45 00, +46 70 592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. +46 8 466 45 00, fax +46 8 716 76 61
e-mail: info@opcon.se (info@opcon.se)
www.opcon.se (http://www.opcon.se)

The Opcon Group

Opcon is an energy and environmental technology Group that develops,
produces and markets systems and products for eco-friendly, efficient
and resource-effective use of energy.

Opcon has activities in Sweden, China, Germany and the UK. There are
around 400 employees. The company's shares are listed on Nasdaq OMX
Stockholm. The Group comprises two business areas:

Renewable Energy focuses on the following areas: electricity generation
based on waste heat, bioenergy-powered heating and CHP plants, pellets
plants, drying of biomass, handling systems for biomass, sludge and
natural gas, industrial cooling, flue gas condensation, treatment of
flue gases, air systems for fuel cells and measurement and monitoring of
processes.

Engine Efficiency focuses on energy-efficient solenoid technology and
ignition systems for combustion engines including ethanol, natural gas
and biogas engines.