VANCOUVER, BC, April 25, 2003 — NxtPhase Corporation, a provider of digital and fiber optic solutions for the electric power industry, announced a sales agreement with Mitsubishi Canada that facilitates the sale of NxtPhase products through Mitsubishi sales channels in Mexico, the United States and Canada. The first in a series of planned expansions to the NxtPhase sales channel, this agreement strengthens the ability to reach potential customers early in their decision making process.
“Our customers are demanding innovative technology solutions that are proven to be reliable and cost effective. NxtPhase products fit that description,” commented Maekita Masayuki, Senior Vice President and Director of Mitsubishi Canada. “Together, NxtPhase and Mitsubishi can offer an integrated digital solution with significant technical benefits for protection and high accuracy metering applications. These solutions will help our customers reduce operating costs and increase revenue capture from power generation assets.”
Mitsubishi, an industry leader in power generation solutions, has excellent existing customer relationships and industry knowledge of new generation and transmission facilities. Under this agreement, Mitsubishi’s seasoned industry professionals will collaborate with the existing NxtPhase sales force to improve promotion of NxtPhase relays, recorders and optical sensor products in regions where Mitsubishi enjoys a leadership position.
“The interest in our products now reaches a global scale,” said Timothy Leyshock, Vice President Sales & Marketing at NxtPhase. “Working with Mitsubishi will allow us to serve our existing customers better, reach new customers and facilitate the integration of our products into turnkey solutions.”
Mitsubishi Corporation is one of the world’s largest general trading enterprises and has a wealth of experience bringing buyers and sellers together. Its Energy Business is working with principal oil and gas producing countries and multinational oil conglomerates to ensure stable, long-term energy supplies for customers in Asia and around the world. The group places a special emphasis on environmentally acceptable solutions to energy needs.
Mitsubishi Canada Limited (MCL), headquartered in Vancouver, is a wholly owned subsidiary of Mitsubishi International Corporation. In addition to general trading activities ranging from food to machinery, MCL’s Business Development and Investment Department engages in venture capital investments in Canada, with particular focus in early or expansion phase private technology companies. Find out more about Mitsubishi Canada at www.mitsubishi.com.
NxtPhase Corporation provides digital and fiber optic solutions that will change the way high-voltage electric power is managed in a competitive electric power industry. Optical sensing products offer more accurate digital information, broader dynamic range, wider bandwidth, improved safety, and environmental benefits compared with conventional technologies. The NxtPhase relay and recorder line provides smart, easy-to-use protection and monitoring of electrical power systems. Future development will enhance the ability to use data interactively across the electric power grid.
NxtPhase is a privately held corporation with development and manufacturing offices in Phoenix, Arizona; Vancouver, British Columbia; and Winnipeg, Manitoba. Find out more about innovative NxtPhase solutions at www.nxtphase.com.