MicroPlanet Technology Corp.

MicroPlanet Technology Corp.

November 07, 2014 08:00 ET

MicroPlanet Adds to and Aligns Executive Team

SEATTLE, WASHINGTON--(Marketwired - Nov. 7, 2014) - MicroPlanet Technology Corp. ("MicroPlanet" or the "Corporation") (TSX VENTURE:MP)(PINKSHEETS:MCTYF) a provider of smart grid and power quality technology and products, which significantly increases efficiency, quality and conservation of electricity and enables the integration of alternative energy into the power grids is pleased to announces the addition of Wolfgang Struss to its executive team and a realignment of executive team responsibilities to address Company initiatives and opportunities.

The Board of Directors of MicroPlanet has named Wolfgang Struss to serve as interim President and Chief Executive Officer of MicroPlanet. Mr. Struss will serve as interim Chief Executive Officer of MicroPlanet, providing continued focus on increasing and financing the market penetration of its "best in class" Low Voltage (LV) regulator products in Australia. Mr. Struss is a seasoned executive with an exceptional track record well-tailored to the Company's strategic plans. He was formerly part of the OEM sales management team at Microsoft and has been co-founder of several start-up firms including Rapid Processing Solutions, Inc. a commercial grade 3-D Printing company which designs and supplies direct digitally manufactured products to the Aerospace, Medical, and Commercial industries. Mr. Struss holds a Bachelor's degree in Electrical Engineering from Cal Poly San Luis Obispo and an MBA from the University of San Diego.

Mr. Struss, a shareholder of the Company and MicroPlanet, Inc. since 2010, states "MicroPlanet has developed, field tested and refined its technologies over the past 15 years resulting in a very mature and stable suite of product offerings. During this process, MicroPlanet has been winning mind share with the utility industry, particularly in Australia and the US. Market need and the proven effectiveness and reliability of MicroPlanet's technology solutions have combined to provide an inflection point from which the company can experience dramatic growth. I am privileged and honored to be part of the team that builds on past achievements to deliver increasing successes for MicroPlanet stakeholders." Mr. Struss' initial focus will be to position and structure MicroPlanet and its products and technology to capitalize on recent opportunities that have developed in Australia. In this regard, Mr. Struss will be pursing the expansion of strategic alliances, funded technology development efforts, targeted licensing and related funding.

To compliment the addition of Mr. Struss, Joe Tanner will serve as the Chairman of the Board of MicroPlanet, Inc., the Company's wholly owned U.S. operating subsidiary. In commenting on his resignation as Company President and Chief Executive Officer, Mr. Tanner stated, "My tenure at MicroPlanet has been among the most rewarding of my career. I regret that health issues in my family require me to reduce my role, however, as board chairman of MicroPlanet, Inc. I will continue to be in a position to contribute to the ongoing success of the Company. I look forward to collaborating with Wolfgang to explore multiple "Strategic Alternatives" to best realize value for MicroPlanet stakeholders." As Chairman, Mr. Tanner will initially continue engagement with potential strategic partners and develop potential plans of arrangement for the MicroPlanet Board of Directors to consider for recommendation to the Company's shareholders.

"On behalf of the MicroPlanet Board of Directors I want to thank Joe Tanner for his dedication to the Corporation," said Alan Richardson, Chairman of the Board of the Corporation "Joe has worked tirelessly to promote the MicroPlanet's "best in class" voltage regulation technology. It is unfortunate that family health issues have forced him to step down from the full-time demands as CEO but we are delighted that he will continue to serve the the Corporation as Chair of MicroPlanet, Inc." said Mr. Richardson. "MicroPlanet is extremely fortunate that Mr. Struss, a very experienced and talented individual who has also been a long-time shareholder and supporter of MicroPlanet has agreed to serve as CEO" he continued. "The Board looks forward to working with Mr. Struss. We are convinced that he and Mr. Tanner will take MicroPlanet to the next level."

About MicroPlanet Technology Corp.

MicroPlanet Technology Corp. is a smart grid, energy conservation company, whose technology dynamically and steplessly regulates voltage with unrivaled speed and accuracy using its patented and advanced power electronics. MicroPlanet's technology solutions have 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


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