MicroPlanet, an energy conservation company, has finalized a contract to supply $6 million of its energy management products to electricity distributing company Ergon Energy.
Under the agreement, MicroPlanet will initially supply Ergon Energy with approximately 3,000 voltage regulation systems. Deliveries are expected to start in early 2008.
Bruce Lisanti, president and CEO of MicroPlanet, said: We have been working closely with Ergon Energy for more than a year on this project. They tested our products extensively in their lab during 2006 and installed the first units in the field in December 2006.
All of the field units have been performing with excellent results. This agreement is further validation that MicroPlanet technology is becoming an integral tool for improving the efficiency of the electrical grid. We will help Ergon Energy deliver voltage at optimal levels at the point of consumption, reducing operating costs and improving customer service. Our technology will also help them save energy and reduce greenhouse emissions.