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[October 17, 2013]
MicroPlanet Adds to Board of Directors
(Marketwire (Canada) Via Acquire Media NewsEdge) SEATTLE, WASHINGTON--(Marketwired - Oct. 17, 2013) - MicroPlanet Technology Corporation ("MicroPlanet" or the "Company") (TSX VENTURE:MP)(PINKSHEETS:MCTYF), a provider of smart-grid and power-quality technology, that significantly increases efficiency, quality, and conservation of electricity, while also enabling the controlled integration of renewable energy sources into power grids, is pleased to announce today, subject to regulatory approvals, the addition of John M. Fluke, to the MicroPlanet Board of Directors.
Fluke has been the chairman of Fluke Capital Management (parent of Fluke Venture Partners) since 1980. Prior to 1990, John served as chairman and chief executive officer of Fluke Corporation, the world leader in precision electronic measuring devices. He has served as a director of PACCAR Inc. (Fortune 500 #168) since 1984, Gray Rock Energy, Inc. since 2006, Precision Genome Engineering, Inc. since 2010 and SuperCritical Technologies, Inc. since 2011. John also serves on the University of Washington Applied Physics Laboratory board of advisors; has been a trustee (since 1982) and former Chairman (1993) of The Greater Seattle Chamber of Commerce; as a mentor in the University of Washington Foster School of Business MBA Mentor Program since its inception in 2000; a trustee of the Museum of Flight since 1990; and a trustee of Junior Achievement of Washington since 1992.
John has previously served on the boards of American Seafoods Group, LLC (2002-2006), Cell Therapeutics, Inc. (2002-2005); PRIMUS International (2003-2006) and Peoples Bank and U.S Bank of Washington and its successor as US Bank of Washington (1984-1997). He is a prior member of the University of Washington's Business School Advisory Board (1995-2010) and the U of W Engineering Visiting Committee. Fluke received his bachelor's degree in electrical engineering from the University of Washington and his master's degree in electrical engineering from Stanford University.
"I'm pleased to have been invited to serve on the board of MicroPlanet," said Mr. Fluke. "I spent my entire professional working life in manufacturing of rugged professional test and measurement equipment, serving the metrology needs of nearly a dozen market segments, including the power utilities. I find that MicroPlanet's innovative and robustly implemented technology addresses a very real problem in many utilities' load end distribution systems. I look forward to working with my fellow directors in our oversight of MicroPlanet's management to exploit the excellent opportunities the Company has with its existing and soon to be added utility customers to achieve high levels of customer satisfaction and the growth in revenues and margins required to produce sustained cash flow performance." Joe Tanner, MicroPlanet president and CEO said; "The addition of Mr. Fluke to the MicroPlanet board is a strong indication of the potential that our world class technology represents in the changing global energy market. John Fluke is broadly regarded as one of the best strategic thinkers in the technology business and brings both technical and hands-on operational experience to MicroPlanet. We could not be more pleased, and think this should be a strong indicator of the path ahead for MicroPlanet." About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. is a smart grid, energy conservation company, whose technology regulates voltage steplessly with unrivaled speed and accuracy. MicroPlanet solutions improve power quality and save energy by dynamically managing voltage through the use of patented, advanced power electronics. MicroPlanet's technology solutions has been deployed in seven countries by more than 20 utilities, the U.S military and multiple commercial customers to manage voltage on networks, 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 TSXV and trades on the OTC under the stock symbol: MP and MCTYF, respectively. 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. 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 THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT: MicroPlanet Technology Corp.
Joe Tanner President and Chief Executive Officer 360-910-1600 425-984-2746 (FAX) firstname.lastname@example.org MicroPlanet Technology Corp.
Ed Garth Chief Financial Officer 206-790-7790 425-984-2746 (FAX) email@example.com www.microplanet.com Source: MicroPlanet Technology Corp.
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