MicroPlanet Technology Corp. announced that it has signed a multi-million dollar formal licensing agreement with Tyree Industries Pty Ltd. Utilizing MicroPlanet's advanced electronics, Tyree and MicroPlanet will produce a new-generation transformer that combines the benefits of smart voltage regulation with distribution transformers. The Regformer(TM) will ensure improved power quality at a consistent pre-set voltage, seamlessly integrating renewable energy back into the grid with bi-directional regulation.

The formal licensing agreement provides Tyree with exclusive rights to use MicroPlanet technologies for integration with transformers for Australia, New Zealand and the Australasian islands. The agreement provides MicroPlanet with compensation for every Regformer(TM) sold based on sales margins. The rights renew indefinitely based on minimum annual license fees to MicroPlanet.

The minimum fees are based on fixed unit quantities but may be adjusted to reflect actual sales margins, and will be negotiated for future years.