Formal Agreement Signed for Large Commercial Order with Australian
Utility, Ergon Energy, to Deploy MicroPlanet Products to Dynamically
Manage Voltage at Optimal Levels, Saving Energy and Reducing Greenhouse
Stock Symbol: MP Exchange: TSXV
Stock Symbol: MCTYF Exchange: OTC
Outstanding Shares: 29.8 million
Web Site: www.microplanet.com
SEATTLE, WA, Oct. 18 /CNW/ - MicroPlanet, a high technology, energy
conservation company, announced today that it has finalized a contract to
supply US $6 million of its energy management products to Ergon Energy. This
contract replaces the agreement in principle that was announced in August.
Under this agreement, MicroPlanet will initially supply Ergon Energy
approximately 3,000 voltage regulation systems. Deliveries are expected to
start in early 2008.
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. It
extends from Birdsville in south west Queensland to Thursday Island in the
Torres Strait, over more than 1 million square kilometers.
"We have been working closely with Ergon Energy for more than a year on
this project. They tested our products extensively in their lab during 2006
and installed the first units in the field in December 2006. All of the field
units have been performing with excellent results. This agreement is further
validation that MicroPlanet technology is becoming an integral tool for
improving the efficiency of the electrical grid. We will help Ergon Energy
deliver voltage at optimal levels at the point of consumption, reducing
operating costs and improving customer service. Our technology will also help
them save energy and reduce greenhouse emissions" said Bruce Lisanti,
President and CEO of MicroPlanet.
The Ergon Energy Chief Executive said "Ergon Energy's initial interest in
the voltage regulators was to improve power quality. The results of the pilot
program showed us the potential for substantial energy and demand savings,
which is definitely appealing."
Brett Ironside, a Director of MicroPlanet, said, "Ergon Energy has been
absolutely excellent to work with. They are an innovative company that is
moving in leaps and bounds towards greater sustainability and efficiency. We
look forward to working with them on their demand management and climate
change programs, as well as their network management systems".
"MicroPlanet is working with more than 20 utilities worldwide, in
addition to many large commercial accounts. We have now installed over 600
systems in pilot programs with customers that have the potential to place
significant commercial orders. Our pilot programs continue to return very
positive results. 5-8% reductions in energy consumption in residential
applications and 5-12% in commercial environments are common without requiring
any changes in customer behavior patterns," said Lisanti.
About MicroPlanet Technology Corp.
MicroPlanet's technology helps to reduce the total amount of energy we
need to produce by significantly increasing the efficiency of the electric
grid. MicroPlanet's products dynamically manage the voltage delivered to a
business or home to optimal levels, which saves energy, lowers electricity
bills and helps reduce greenhouse emissions. The Company's products can also
reduce peak period demand and can improve utility services.
MicroPlanet is a trademark of MicroPlanet. All other trademarks and
registered trademarks are those of their respective companies.
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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,