NEWS & PRESS RELEASE
July 12, 2018 – Update on Magplane Technologies, Inc. Activity in ChinaActivity in China
MTI’s technologies include applications of linear synchronous motors (LSM) and permanent magnets (PM) for goods transport and passenger transit systems based on magnetic propulsion and / or magnetic levitation.
March 21, 2016 - Magplane Technology Sponsors MIT Hyperloop TeamMagplane Technology Inc Sponsors MIT Hyperloop Team
A student team at MIT has entered a national contest initiated by SpaceX (http://hyperloop.mit.edu ). They have recently won first place in the phase 1 contest (http://news.mit.edu/2016/mit-students-win-first-round-spacex-hyperloop-contest-0201). MTI is proud to be a sponsor of the MIT Hyperloop Team. Dr. Bruce Montgomery also serves as a magnetics advisor to the project.
May 31, 2015 - Magplane Technology CEO Issues UpdateMagplane Technology CEO Issues Update
MagTrack (MagPipe) Systems Demo Project Construction and Test Progresses in Zhangjiakou, China with Magplane Technology, Inc. Participation
April 10, 2014 - Magplane Technology CEO Issues UpdateMagplane Technology CEO Issues Update
Magtrans (MagPipe) Systems Demo Project Continues in Zhangjiakou, China With Magplane Technology, Inc. Participation
September 17, 2013 - Magplane Technology CEO Issues UpdateMagplane Technology CEO Issues Update
Magplane Technology, Inc. Participating in Demo Project for Evaluation of MagPipe Bulk Materials Transportation System in Zhangjiakou, China
Dec 09, 2009 - Magplane Technology $2M for Design Services, JV Completes First Manufacturing BuildingMagplane Technology $2M for Design Services, JV Completes First Manufacturing Building
Magplane Technology to Receive $2M for Commercialization of the MagPipe System, MagPipe Manufacturing Building Completed in Inner Mongolia
Jul 14, 2009 - Magplane Technology Successfully Demonstrates MagPipe System in ChinaMagplane Technology Successfully Demonstrates MagPipe System in China
Magplane Technology Successfully Demonstrates MagPipe System Mangolia
Feb 16, 2009 - Photo Update on Technology Development ProgressPhoto Update on Technology Development Progress
Photo Update on Technology Development Progress
Nov 13, 2008 - Magplane Technology CEO Issues Inner Mongolia Joint Venture UpdateMagplane Technology CEO Issues Inner Mongolia Joint Venture Update
Magplane Technology, Inc. (Pink Sheets: MAGP) issued an update to shareholders today from President and CEO Mr. G. Larry Roderick.
Oct 10, 2008 - New Photos in Magplane Media and Photo GalleryNew Photos in Magplane Media and Photo Gallery
New Photos in Magplane Media and Photo Gallery
Aug 12, 2008 - Magplane Technology Development UpdateTransportation for the 21st Century
Magplane Technology, Inc. (Pink Sheets: MAGP) is pleased to issue a technology development update to shareholders and the financial community.
May 16, 2008 - Magplane Technology CEO Issues Update to ShareholdersMagplane Technology CEO Issues Update to Shareholders
Magplane Technology CEO issues update to Shareholders
May 13, 2008 - Magplane Media and Photo GalleryMagplane Media and Photo Gallery
Magplane Media and Photo Gallery
Feb 21, 2008 - Magplane Receives Technical Design Services Contract Worth $1.9 MillionTransportation for the 21st Century
Magplane Receives Technical Design Services Contract Valued at $1.9 Million
Jan 23, 2008 - Magplane Subsidiary to Merge with IM Mag Investment Management Co.Transportation for the 21st Century
Magplane Subsidiary to Merge with IM Mag Investment Management Co. -Receives $2.5 Million in Cash & a Portfolio of China Industrial Investments.
Jan 07, 2008 - Magplane Retains Law Firm and Independent Auditor to Prepare Form 10 FilingTransportation for the 21st Century
Magplane Technology Retains Law Firm and Independent Auditor to Prepare Filing Form 10 - Plans to Become a Fully-Reporting Company in 2008.
Jan 03, 2008 - Magplane Issues Letter from President and Chairman of the Board
Dec 24, 2007 - Magplane Completes Registration of Inner Mongolia Joint VentureTransportation for the 21st Century
Magplane Completes Registration of Inner Mongolia Joint Venture
Nov 8, 2007 - Magplane media coverage for October 2007
Magplane media coverage for October 2007
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Oct 29, 2007 - Magplane Joint Venture in Inner Mongolia Executes Entry Agreement with the Baotou Rare Earth High-Tech Industrial Development Zone
Magplane Joint Venture in Inner Mongolia Executes Entry Agreement with the Baotou Rare Earth High-Tech Industrial Development Zon
BEDFORD, Mass., 29 October 2007 /PRNewswire-FirstCall/ -- Magplane Technology, Inc. (Pink Sheets: MAGP) announces today that its Joint Venture, Inner Mongolia Magplane Pipeline Technology Co., Ltd., has executed a formal agreement with the Baotou Rare Earth High-Tech Industrial Development Zone. This so called “Entry Agreement” grants the Joint Venture permission to locate within the Economic Zone and to receive the most favorable treatment that is given to companies within the zone including substantial tax benefits.
The agreement grants the JV Company 32 acres of land to establish a production base with a manufacturing capacity of 200 km/year of double pipeline and to construct a 1 kilometer customer demonstration line. The cost of the land will be covered by the Economic Zone further demonstrating the importance of this project to the Inner Mongolia mining industry.
The agreement also guarantees that the Central Government quota of permanent magnet rare earth materials will specifically include sufficient supply for the Joint Venture to meet its production of pipeline, which will require 1,500 tonnes of rare earth material per year.
Binson Du, Magplane Vice President of China Operations, and General Manager of the Joint Venture, notes that “this guarantee of rare earth material supply is particularly important and valuable because the Government has established a strict quota system on rare earth material.”
The MagPipe product is expected to become an important technology in Inner Mongolia to reduce the transportation bottleneck currently faced by the coal industry as well reducing cost and pollution levels compared to diesel trucks.
About Magplane Technology, Inc.
Founded by a group of MIT engineers, Magplane Technology, Inc. (MTI) is the developer of the Magplane system, an innovative magnetic levitation (maglev) transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. Magplanes can achieve speeds up to 500 km/hour for inter-city travel and nearly silent operation for urban mass transit systems. The Magplane system has also been adapted for use in a unique pipeline application that can reduce the cost and pollution from diesel trucks used in transporting material from mining operations.For more information on the Company, visit http://www.magplane.com.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Jason Mill
Magplane Technology, Inc.
[email protected]
SOURCE: Magplane Technology, Inc.
Sept 20, 2007 - Magplane & Inner Mongolia Partners Execute Formal JV Agreement
MAGPLANE & INNER MONGOLIA PARTNERS EXECUTE FORMAL JOINT VENTURE AGREEMENT
Bedford, MA – 20 September 2007 – (PRNewswire) Magplane Technology, Inc. (OTC: MAGP) announces today that it has executed formal joint venture agreements with its partners in Inner Mongolia. The parties to the agreement are Magplane’s wholly owned subsidiary, Magplane Pipeline Technology, Inc., Beijing Farthest Technology, Co. and Inner Mongolia Maglev Investment and Development Co., Ltd., a consortium of a government investment agency and several industrial companies.
After continued negotiation, Magplane Pipeline Technology, Inc. has now become the majority partner holding 51% of the JV, Inner Mongolia Maglev Investment and Development, Co. holds 39%, and Beijing Farthest Technology, Co. holds 10%.
In a related agreement, the JV partners have agreed that the Joint Venture Company will pay a one-time Intellectual Property Compensation fee of US$8 million (net) to Magplane Pipeline Technology, Inc. for the transfer of all intellectual property required to manufacture MagPipes. The IP fees will be paid in installments over a 12-month period as the demonstration project is completed and the IP is transferred to the JV.
The demonstration project is expected to be complete within 12 months after which construction of the first commercial MagPipe will begin. Preliminary agreements with coal and power companies have been reached for the first two commercial lines totaling over 40km that will generate substantial revenue.
Dr. Bruce Montgomery, President & CTO of Magplane, said “The Inner Mongolia coal industry has expressed significant need for an alternative to typical truck transportation. Rising trucking costs and the difficult terrain in the region make MagPipe an attractive solution. Mining companies world-wide face similar challenges so we look forward to demonstrating the strength and value of MagPipe in Inner Mongolia.”
About Magplane Technology, Inc.
Founded by a group of MIT engineers, Magplane Technology, Inc. (MTI) is the developer of the Magplane system, an innovative magnetic levitation (maglev) transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. Magplanes can achieve speeds up to 500 km/hour for inter-city travel and nearly silent operation for urban mass transit systems. The Magplane system has also been adapted for use in a unique pipeline application that can reduce the cost and pollution from diesel trucks used in transporting material from mining operations.For more information on the Company, visit http://www.magplane.com.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Jason Mill
Magplane Technology, Inc.
[email protected]
SOURCE: Magplane Technology, Inc.
June 19, 2007 - Magplane Pipeline Project Receives High Acclaim in China National Assessment ReportTransportation for the 21st Century
MAGPLANE PIPELINE PROJECT RECEIVES HIGH ACCLAIM IN CHINA NATIONAL ASSESSMENT REPORT - China National Government Endorses JV with Magplane Subsidiary MPTI.
June 13, 2007 - OTC Financial Network Issues Corporate Profile on Magplane TechnologyTransportation for the 21st Century
OTC Financial Network Issues Corporate Profile on Magplane Technology
June 7, 2007 - Magplane CTO Dr. Bruce Montgomery Participates in ITER Magnet System ReviewTransportation for the 21st Century
Magplane Pipeline Technology, Inc. CTO Selected to Participate in ITER Magnet System Review Project in France
June 5, 2007 - Magplane Announces Dr. Bruce Montgomery Appointed for Second Term as ChairmanTransportation for the 21st Century
MAGPLANE TECHNOLOGY APPOINTS DR. BRUCE MONTGOMERY FOR SECOND CONSECUTIVE TERM AS CHAIRMAN OF THE BOARD - Former MIT Associate Director Heads Up $80 Million Inner Mongolia Project for Magplane
May 9, 2007 - Magplane Pipeline Technology, Inc. Announces Inner Mongolia JV PartnersTransportation for the 21st Century
Magplane Pipeline Technology, Inc. Announces Inner Mongolia JV Partners
April 25, 2007 - Magplane Pipeline Technology, Inc. Signs Framework Agreement with Inner MongoliaTransportation for the 21st Century
Magplane Pipeline Technology, Inc. Signs Framework Agreement with Inner Mongolia Totaling 80 Million Dollars
April 25, 2007 - Magplane Pipeline Technology, Inc. in Xinhua News ReportMagplane Pipeline Technology, Inc. in Xinhua
Inner Mongolia Signed a Cooperation Agreement with American Magplane Pipeline Company.
January 24, 2007 - Magplane Technology to Have Opportunity in Inner MongoliaTRANSPORTATION FOR THE 21ST CENTURY
Magplane Technology to Have Opportunity in Inner Mongolia
January 03, 2007 - Statement from the President: 2006 Review and 2007 OutlookTRANSPORTATION FOR THE 21ST CENTURY
Press Release January 3, 2007 Statement from the President and Chairman of the Board Review of 2006 and 2007 Forward Looking Statement
October 24, 2006 - Magplane Withdraws Financing Agreement with ShangShan/TimshoTRANSPORTATION FOR THE 21ST CENTURY
Magplane Withdraws Financing Agreement with ShangShan/Timsho.
May 22, 2006 - Magplane Executes Formal Agreement for US$500M Investment into Magplane China, Ltd.TRANSPORTATION FOR THE 21ST CENTURY
Magplane Executes Formal Agreement for US$500M Investment into Magplane China, Ltd.
April 17, 2006 - Magplane Completes Registration of Magplane China, Ltd.TRANSPORTATION FOR THE 21ST CENTURY
Magplane Completes Registration of Magplane China, Ltd
April 4, 2006 - Magplane Secures US$500 Million Investment in Beijing, ChinaTRANSPORTATION FOR THE 21ST CENTURY
Magplane Secures US$500 Million Investment in Beijing, China
March 20, 2006 - Statement from President and Chairman of the BoardTRANSPORTATION FOR THE 21ST CENTURY
Magplane Secures US$500 Million Investment in Beijing, China
March 13, 2006 - China Approves Extension of the Shanghai Maglev LineNews & Press Release
China Approves Extension of the Shanghai Maglev Line
March 8, 2006 - Investment by Shang Shan Investment, Beijing LtdInvestment by Shang Shan Investment, Beijing Ltd
February 9, 2006 - NASD Clearance of Magplane Technology, Inc 15c2-11 ApplicationNASD Clearance of Magplane Technology, Inc 15c2-11 Application
January 16, 2006 - Magplane Technology, Inc and Subsidiary Consolidated Financial Statements for as of September 30, 2005, December 31 2004 and 2003MTI Financials
March 22, 2005 - The 6th Mode of Transportation Development in ChinaNews & Press Release
Maglev – The 6th Mode of Transportation Development in China
March 14, 2005 - Magplane Technology, Inc. Signed Pre-Feasibility Study Agreements with ChinaNews & Press Release
Magplane Technology, Inc. Signed Pre-Feasibility Study Agreements with China