Microplanet's Energy Saving Products to Be Installed in Commercial and Residential Buildings in Hawaii
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SEATTLE, May 2 -- MicroPlanet Technology Corp. (TSXV:MP) ("MicroPlanet" or the "Company") a high technology, energy conservation company, announced agreements today to install the Company's products at 30 additional commercial and residential sites in Hawaii. MicroPlanet's products reduce electricity usage by dynamically managing incoming voltage. Savings of 5-12% are common without requiring any changes in customer electricity usage behavior patterns.
Under contracts with the US military, two major property management companies, a large resort developer and a "green" residential builder, MicroPlanet is supplying its technology for installation in commercial buildings and residential applications, including condominiums, duplex and 4-plex military housing and individual homes.
"Because electric utility rates in Hawaii are among the highest in the United States, large customers are very motivated to reduce their energy costs," said Bruce Lisanti, President and CEO of MicroPlanet. "Collectively these pilot installations are for organizations that combined, manage and own tens of thousands of buildings in Hawaii."
Lisanti continues, "In 2006, Hawaiian Electric Company, Inc. (HECO) conducted independent evaluations of MicroPlanet's Voltage Regulation products. Results from their tests indicated that there was meaningful energy savings from installing the Company's products. Based on the success of their tests, in January 2007 HECO included MicroPlanet products in their Demand Side Management Program (DSM) and is now offering its large customers rebates to install the equipment. HECO and its subsidiaries supply electricity to 95% of the consumers in Hawaii. Since the energy savings have already been established by the HECO test, new potential customers will need only a short evaluation period to validate our product in their environments."
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 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 29.2 million common shares outstanding. Visit MicroPlanet at: www.microplanet.com and www.investorfile.com.
Source: MicroPlanet Technology Corp.
CONTACT: MicroPlanet Company Contacts: Bruce Lisanti, President & Chief Executive Officer, Tel: (206) 625-0851, blisanti@microplanet.com; MicroPlanet Investor Relations: Gerry Wimmer, INVESTORFILE.com, Tel: (416) 360-8895, Toll
Free: 1-888-894-8222, gwimmer@investorfile.com
Company: MicroPlanet Technology Corp.
Stock Symbol: MP Exchange: TSXV Outstanding Shares: 29.2 million
Web Site: www.microplanet.com
