Company: MicroPlanet Technology Corp.
Stock Listing: MP:TSXV
Stock Listing (US): MCTYF: OTC
Web Site: www.microplanet.com
SEATTLE, WA, June 30 /PRNewswire-FirstCall/ - MicroPlanet, (MP:TSXV & MCTYF:OTC) a smart grid energy conservation company announced today its smart grid technology has been granted full patent protection by the European Patent Office. MicroPlanet also announced that the European utility ESB Networks, an electric utility in Ireland servicing over 2 million customers, has placed an initial order for its second generation utility smart grid voltage management products.
Brett Ironside, CEO & President of MicroPlanet commented, "We are pleased to finally receive this important intellectual property protection. The European patent and ESB order are a testament to MicroPlanet's unique smart grid technology which improves power quality with features controlling voltage, flicker, sags, surges and spikes in addition to our energy conservation benefits."
Ironside continues, "With the rising demand for electricity and the addition of renewable generation such as solar and wind to the electrical grid, utilities are faced with greater challenges to maintain and improve power quality and stability. Customer awareness of energy efficiency and power quality is certainly increasing as they purchase and deploy more and more sensitive equipment. MicroPlanet's smart grid products improve power quality and conserve energy by dynamically optimizing incoming voltage at the point of consumption."
"The increasing cost of electricity, aging infrastructure, and renewable and energy conservation mandates in Europe promotes the value propositions of MicroPlanet's smart grid products. We will utilize strong, well established, well resourced distribution partners as part of an aggressive expansion strategy into the European market," said Ironside.
MicroPlanet has delivered smart grid voltage management systems to over 20 utilities worldwide.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. smart grid energy management solutions improve power quality and save energy by dynamically managing incoming voltage to a home or business through the use of patented, advanced power electronics. MicroPlanet's technology has been deployed in seven countries by more than 20 utilities, the U.S military and multiple commercial customers to save energy, improve power quality and grid efficiency and to facilitate the integration of renewable energy sources, including solar and wind. MicroPlanet is based in Seattle, WA and is listed on the TSX Venture Exchange (TSX-V) trading under the stock symbol: MP. www.microplanet.com.
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SOURCE MicroPlanet Technology Corp.