Australian Utility, Ergon Energy, to Deploy MicroPlanet Products to
Dynamically Manage Voltage at Optimal Levels, Saving Energy and Reducing
Greenhouse Gas Emissions
Stock Symbol: MP
Outstanding Shares: 29.8 million
Web Site: www.microplanet.com
SEATTLE, WA, Aug. 7 /CNW/ - MicroPlanet Technology Corp. (TSXV:MP)
("MicroPlanet" or the "Company") a high technology, energy conservation
company, announced today that it has signed an agreement in principle with
Ergon Energy to supply up to US $6 million of its products to Ergon Energy
over 3 years. Under this agreement, MicroPlanet will initially supply Ergon
Energy with up to 3,000 voltage regulation systems. The agreement in principle
is subject to execution of a formal contract that is expected to be completed
on or before September 30, 2007. Deliveries are expected to start in early
With an asset base of $6.7 billion and more than 4,000 employees, Ergon
Energy distributes electricity to approximately 600,000 customers in
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.
"This agreement with Ergon Energy is a landmark event for MicroPlanet. It
is further validation that our products are becoming an integral tool for the
efficient delivery of power today. We will help Ergon Energy deliver voltage
at optimal levels, reduce operating costs, and improve customer service, while
saving energy and reducing greenhouse emissions" said Bruce Lisanti, President
and CEO of MicroPlanet.
Ergon Energy Executive General Manager Corporate Sustainability and
Innovation, Jim Chisholm said "Ergon Energy's initial interest in the voltage
regulators was to improve power quality. We are pleased with the power quality
performance of the product in a pilot program and the energy and demand
potential reductions would be an attractive proposition."
Brett Ironside, a Director of MicroPlanet, has been working closely with
senior management at Ergon Energy for more than a year. "We have developed a
true partnership. Ergon Energy is a very innovative company that is leading
the way in sustainability and efficiency. They recognize that every KW saved
at the point of consumption saves on average three times that amount of carbon
based generation, thus creating a multiplied savings on the environmental
emissions as well as on generation and distribution costs." (US Department of
Energy - Energy Information Administration 2006)
Mr. Ironside continued, "Over the next few years, we plan to
substantially expand our support and provide additional products for their
SWER (single wire - earth return) system, Solar Cities project, Network Demand
Management and Carbon Neutral Programs".
"MicroPlanet is working with more than 20 utilities worldwide, in
addition to many large commercial accounts. We have now installed over 500
systems in pilot programs with customers that have the potential to place
significant commercial orders. Our pilot programs continue to return very
positive results. Savings of 5-12% 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 public company whose common shares are listed for
trading on TSX Venture Exchange (TSXV) under the symbol: "MP". The Company has
approximately 29.8 million common shares outstanding. Visit MicroPlanet at:
www.microplanet.com and www.investorfile.com.
MicroPlanet is a trademark of MicroPlanet. All other trademarks and
registered trademarks are those of their respective companies.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE
RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS,
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FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED
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WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM.
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For further information:
For further information: MicroPlanet Company Contacts: Bruce Lisanti,
President & Chief Executive Officer, Tel: (206) 625-0851,
email@example.com; MicroPlanet Investor Relations: Gerry Wimmer,
INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,