Abstract: A wall panel system has at least one panel with face sheets of compressed solid cement or gypsum based material bonded to a foam core. The core has at least one channel extending through the core on an axis along the length of the panel from a predetermined position on a top edge to a bottom edge of the panel. A slot is provided on opposed side/end edges of the core to allow for a strengthening rod to be inserted between adjacent panels. An edge recess extends along one or more edges of the panel between the rear of the face sheet(s) and the core. The recess can receive and discretely hide connecting panel/plate members connecting adjacent panels.