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News & Press Release

Magplane 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.

News & Press Release, May 31, 2015

MagTrack (MagPipe) Systems Demo Project Construction and Test Progresses in Zhangjiakou, China with Magplane Technology, Inc. Participation

News & Press Release, April 10, 2014

Magtrans (MagPipe) Systems Demo Project Continues in Zhangjiakou, China With Magplane Technology, Inc. Participation

News & Press Release - September 15, 2013

Magplane Technology, Inc. Participating in Demo Project for Evaluation of MagPipe Bulk Materials Transportation System in Zhangjiakou, China

News & Press Release, 9 December, 2009

Magplane Technology to Receive $2M for Commercialization of the MagPipe System, MagPipe Manufacturing Building Completed in Inner Mongolia

News & Press Release, July 14, 2009

MAGPLANE TECHNOLOGY SUCCESSFULLY DEMONSTRATES MAGPIPE SYSTEM IN INNER MONGOLIA

News & Press Release, Febraury 16, 2009

Photo Update on Technology Development Progress

News & Press Release, November 13, 2008

Magplane Technology, Inc. (Pink Sheets: MAGP) issued an update to shareholders today from President and CEO Mr. G. Larry Roderick.

News & Press Release, October 10, 2008

New Photos in Magplane Media and Photo Gallery

Transportation for the 21st Century, August 12, 2008

Magplane Technology, Inc. (Pink Sheets: MAGP) is pleased to issue a technology development update to shareholders and the financial community.

News & Press Release, May 16, 2008

Magplane Technology CEO issues update to Shareholders

News & Press Release, May 13, 2008

Magplane Media and Photo Gallery

Transportation for the 21st Century, Feb 21, 2008

Magplane Receives Technical Design Services Contract Valued at $1.9 Million

Transportation for the 21st Century, Jan 23, 2008

Magplane Subsidiary to Merge with IM Mag Investment Management Co. -Receives $2.5 Million in Cash & a Portfolio of China Industrial Investments.

Transportation for the 21st Century, Jan 07, 2008

Magplane Technology Retains Law Firm and Independent Auditor to Prepare Filing Form 10 - Plans to Become a Fully-Reporting Company in 2008.

TRANSPORTATION FOR THE 21ST CENTURY, Dec 24, 2007

Magplane Completes Registration of Inner Mongolia Joint Venture

Magplane media coverage for October 2007, Nov 08,2007

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Magplane Joint Venture in Inner Mongolia Executes Entry Agreement with the Baotou Rare Earth High-Tech Industrial Development Zone

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.
jbmill@magplane.com

SOURCE: Magplane Technology, Inc.

 

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.
jbmill@magplane.com
SOURCE: Magplane Technology, Inc.

TRANSPORTATION FOR THE 21ST CENTURY, June 19,2007

MAGPLANE PIPELINE PROJECT RECEIVES HIGH ACCLAIM IN CHINA NATIONAL ASSESSMENT REPORT - China National Government Endorses JV with Magplane Subsidiary MPTI.

TRANSPORTATION FOR THE 21ST CENTURY, June 13,2007

OTC Financial Network Issues Corporate Profile on Magplane Technology

TRANSPORTATION FOR THE 21ST CENTURY, June 07, 2007

Magplane Pipeline Technology, Inc. CTO Selected to Participate in ITER Magnet System Review Project in France

TRANSPORTATION FOR THE 21ST CENTURY, June 05, 2007

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

TRANSPORTATION FOR THE 21ST CENTURY, May 09, 2007

Magplane Pipeline Technology, Inc. Announces Inner Mongolia JV Partners

TRANSPORTATION FOR THE 21ST CENTURY, April 25, 2007

Magplane Pipeline Technology, Inc. Signs Framework Agreement with Inner Mongolia Totaling 80 Million Dollars

Magplane Pipeline Technology, Inc. in Xinhua, April 25, 2007.

Inner Mongolia Signed a Cooperation Agreement with American Magplane Pipeline Company .

TRANSPORTATION FOR THE 21ST CENTURY, Jan 24, 2007

Magplane Technology to Have Opportunity in Inner Mongolia

TRANSPORTATION FOR THE 21ST CENTURY, Jan 03, 2007

Press Release January 3, 2007 Statement from the President and Chairman of the Board Review of 2006 and 2007 Forward Looking Statement

TRANSPORTATION FOR THE 21ST CENTURY, October 24th, 2006

Magplane Withdraws Financing Agreement with ShangShan/Timsho.

TRANSPORTATION FOR THE 21ST CENTURY, May 22, 2006

Magplane Executes Formal Agreement for US$500M Investment into Magplane China, Ltd.

TRANSPORTATION FOR THE 21ST CENTURY, April 17. 2006

Magplane Completes Registration of Magplane China, Ltd

TRANSPORTATION FOR THE 21ST CENTURY, April 04, 2006

Magplane Secures US$500 Million Investment in Beijing, China

TRANSPORTATION FOR THE 21ST CENTURY, April 04, 2006

Magplane Secures US$500 Million Investment in Beijing, China

News & Press Release, March 13, 2006

China Approves Extension of the Shanghai Maglev Line

Investment by Shang Shan Investment, Beijing Ltd , March 08, 2006

News & Press Release, March 22, 2005

Maglev – The 6th Mode of Transportation Development in China

News & Press Release, March 14, 2005

Magplane Technology, Inc. Signed Pre-Feasibility Study Agreements with China

For investor relations support and information please contact D. Bruce Montgomery

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