MicroPlanet Signs Landmark Agreement to Supply Energy Conservation Products to Ergon Energy |
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By: MicroPlanet Technology Corp. Posted: 2007-08-07 17:29:10 |
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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 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 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: http://www.microplanet.com and http://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, 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. |
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