Company: MicroPlanet Technology Corp.
Stock Listing: MP:TSXV
Stock Listing (US): MCTYF: OTC
Web Site: www.microplanet.com
SEATTLE, WA, July 16 /CNW/ - MicroPlanet, (MP:TSXV & MCTYF:OTC) a smart
grid, energy conservation company, announced today the deployment of
MicroPlanet's smart grid technology on commercial buildings for Castle & Cooke
Resorts, LLC on the Island of Lanai in Hawaii.
After concluding a pilot program over six months to test the
effectiveness of MicroPlanet products on commercial and residential properties
on Lanai, the Island of Hawaii and Oahu, Castle & Cooke Resorts has placed an
order to install MicroPlanet voltage management systems to improve power
quality, lower electric bills and reduce greenhouse gases. Delivery of
MicroPlanet systems to Castle & Cooke Resorts will begin in the third quarter
on Lanai.
Castle & Cooke Resorts, LLC is the resort community development division
of Castle & Cooke Inc. Castle & Cooke, Inc. was founded in 1851 and is one of
the nation's oldest and most respected developers. The Company owns
approximately 98 percent of the Island of Lana'i and has developed luxury
hotels, such as the Four Seasons Resort Lanai, The Lodge at Koele and the Four
Seasons Resort Lanai at Manele Bay, as well as championship golf courses and
is currently developing luxury residential communities. In addition to their
activity in Hawaii, the Company's has residential real estate operations
located in California, Arizona and Florida. Castle & Cooke is also developing
commercial properties in California, North Carolina, Georgia, Arizona, Florida
and Hawaii.
Bruce Lisanti, President and CEO of MicroPlanet said, "Castle & Cooke's
commitment to energy conservation and sustainability practices on Lanai
represents a large scale commercial opportunity for MicroPlanet's Smart Grid
technology. We look forward to working with them on these sites and on many
other buildings over the next few years to help them meet their conservation
objectives."
"MicroPlanet 3-Phase voltage management system is an important part of
the new Smart Grid. Our commercial systems dynamically manage voltage up or
down to within 1/2 volt of a fixed set point. We also keep all 3 supply phases
in balance, allowing large motors, such as those used in air conditioners to
run cooler, use less energy and last longer," said Lisanti.
MicroPlanet's Smart Grid technology are now being deployed on a large
scale by both businesses and utilities as a cost effective way to save energy,
improve power quality and reduce greenhouse emissions.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. is a smart grid, energy conservation
company, whose technology improves power quality and saves electric energy by
the dynamic management of incoming voltage to a home or business. In
commercial and residential building installations, MicroPlanet products have
been proven to significantly reduce electric bills, maintenance costs and
greenhouse gases. Installation of MicroPlanet products for utilities has
improved utility services and facilitates the integration of renewable energy
sources, including solar and wind, to the power grid. MicroPlanet is based in
Seattle, WA and is listed on the TSX Venture Exchange (TSX-V) trading under
the stock symbol: MP. MicroPlanet's website is www.microplanet.com.
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
%SEDAR: 00020555E
