Company: MicroPlanet Technology Corp.
Stock Listing: MP:TSXV
Stock Listing (US): MCTYF: OTC
Web Site: www.microplanet.com
SEATTLE, Jan. 12 /CNW/ - MicroPlanet, (MP:TSXV & MCTYF:OTC) a clean
technology, energy conservation company, announced today that it has entered
into a agreement with Ergon Energy for the distribution of MicroPlanet's
voltage management products to customers in Australia.
With an asset base of $6.7 billion and more than 4,000 employees, Ergon
Energy distributes electricity to approximately 600,000 customers in regional
Queensland, Australia. Its network is the largest of its kind operated by a
single distributor, which comprises more than 150,000 kilometers of
electricity lines, about 1 million power poles and 70,000 substations.
"Ergon Energy is utilizing the MicroPlanet technology internally to help
improve the quality of supply of our electricity network," General Manager Ken
Ash said. "We have initially purchased 3,000 MicroPlanet systems for our own
network, and based on the success of these programs, we entered into the
distribution agreement to supply the product to other utilities and commercial
customers facing similar network challenges."
"While we originally intended to utilize the new technology on single
wire earth return (SWER) networks, we are now expecting there will be a much
wider application for the (MicroPlanet) product, including energy
conservation," said Ash.
"This agreement with a major utility like Ergon Energy further validates
MicroPlanet's technology as a standard solution to solve common utility
problems and to help modernize the power grid," said Bruce Lisanti, CEO of
MicroPlanet. "MicroPlanet products help utilities respond quickly to their
customer's concerns and reduce capital investment in transmission and
distribution equipment as well as lowering overall operating costs."
"MicroPlanet's advanced technology also reduces energy consumption from
5% to 12% in conservation applications and helps speed the adoption of
renewable energy sources by stabilizing voltage on the electrical grids. We
are very excited about our partnership with Ergon Energy. They are a very well
respected and innovative utility and will be able to help us expand rapidly in
Australia," said Lisanti.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. is a clean tech energy conservation company
whose technology improves power quality and saves electric energy by the
dynamic management of incoming voltage to a home or business. In commercial
and residential building installations, MicroPlanet products have been proven
to significantly reduce electric bills, maintenance costs and greenhouse
gases. Installation of MicroPlanet products for utilities has improved utility
services and facilitates the integration of renewable energy sources,
including solar and wind, to the power grid. MicroPlanet is based in Seattle,
WA and is listed on the TSX Venture Exchange (TSX-V) trading under the stock
symbol: MP. MicroPlanet's website is www.microplanet.com.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE
ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS
FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
ANNUAL AND QUARTERLY REPORTS AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO
ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE
FORWARD-LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO,
WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN.
For further information:
For further information: MicroPlanet Company Contacts: Bruce Lisanti,
President & CEO, Tel: (206) 625-0851, Fax: (206) 625-0999,
email@example.com; MicroPlanet Investor Relations: Gerry Wimmer,
INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,