Magplane Technology, Inc. ("MTI"), is the developer of the Magplane system. Based in Hampton, New Hampshire, USA,
the company was founded in the mid-1990s by a group of MIT engineers who developed the basic Magplane concept.
MTI organized and led the efforts of over 30 engineers and scientists from the United States Army Corps of Engineers
and 10 leading engineering firms, including Raytheon and MIT Lincoln Laboratory, to further develop the technology
under the National Maglev Initiative of the United States Department of Transportation.
The company adapted several essential features of the Magplane technology to electromagnetic pipeline transport,
and completed a US$2 million demonstration project for the IMC Global Corporation in November 2000. The Company
has focused in the last several years on developing projects for several cities in China. The Company will lead the engineering
support team in the United States for Magplane China Company supported by a number of major subcontractors described below.
Magplane was initially developed at the Massachusetts Institute of Technology (MIT) together with industrial partners.
Magplane Technology, Inc. spun off in the 1990s to develop commercial systems.
Prior to spin off from MIT, 60,000 hours of Faculty, staff and graduate student research and development work was
done on the basic Magplane concept. During this period a 1/25 scale working model was tested on a 100 meter long
guideway to demonstrate the levitation and propulsion properties of the guideway and on-board magnets.
After spin-off in 1992, a 5.6 M$ design concept development was sponsored by the Federal Railway Administration and
a 1/5 scale 2 M$ linear motor propulsion system was built as part of a 300 meter-long ore-transport system for one
of the major phosphate mining companies.
PARTNERSHIP with JD.COM
MAGPLANE TECHNOLOGY ATTENDED JD.COM GLOBAL LOGISTICS SUMMIT IN DECEMBER 2017 in SHANGAI, CHINA http://www.sangbe.com/article/150748.html
JD.com WAREHOUSE https://www.youtube.com/watch?v=LOUomu_i9Ds
https://www.youtube.com/watch?v=xDWCPeoDWJ4 MAGPLANE PATENTS https://backend.otcmarkets.com/otcapi/company/financial-report/6572/content
MANAGEMENT & TEAM
The company had been silent from 2009 until September, 2013. And now they just released a PR in April 2014. S/S is great too. http://www.otcmarkets.com/stock/MAGP/profile
MAGP Security Details
|Market Value1 ||$1,215,500 ||a/o May 05, 2014 |
|Shares Outstanding ||187,000,000 ||a/o Jun 07, 2007 |
|Float ||Not Available |
|Authorized Shares ||200,000,000 ||a/o Jun 07, 2007 |
|Par Value ||0.001 |
|Shareholders of Record ||Not Available |
Transfer Agent(s) Capital Transfer Agency, Inc.
- 6 Merrill Industrial Dr.
Hampton, NH 03842
Update Company Profile
Developer of magnetically levitated passenger transportation systems and "dry pipelines" for the mining industry with initial deployment in China.
|Reporting Status ||Dark: Alternative Reporting Standard |
|Audited Financials ||Not Available |
|Latest Report ||Sep 30, 2005 Interim Financial Report |
|Fiscal Year End ||12/31 |
|OTC Marketplace ||OTC Pink No Information |
|SIC - Industry Classification ||3743 - Railroad equipment |
|Incorporated In: ||DE, USA |
|Year of Inc. ||1995 |
|Employees ||6 a/o Sep 15, 2005 |
|D. Bruce Montgomery ||CTO |
|G. Larry Roderick ||CEO |
|Binson Du ||Vice President |
|Jason Mill ||CFO, Secretary, Treasurer |
|Shelley Wieler ||Office Manager |
|D. Bruce Montgomery ||Chairman |
|Binson Du || |
|Henry H. Kolm || |
- Note=9-15-05 company is in the development stage
Service Providers Accounting/Auditing Firm Legal Counsel
Not Available Investor Relations Firm
April 10, 2014 news: http://www.magplane.com/inves_news.asp
A G P L A N E TE C H N O L O G Y M
News & Press Release, April 10, 2014
Hampton, NH: April 10, 2014 – Magtrans (MagPipe) Systems Demo Project Continues in Zhangjiakou, China With Magplane Technology, Inc. Participation
This News Update provides information about Magplane Technologies, Inc. as of the end of Q1, 2014.
Magtrans System Demo Projects in China. Since the September 15, 2013 News Release, the Company has continued to provide certain design, engineering, and project management services toward completion of indoor 120-meter and outdoor 1.2-km MagPipe system demonstration projects at the ZMM campus in Zhangjiakou, China, under the subcontract with the Hong Kong entity referenced in that News Release, in which the Company holds a minority equity interest. The indoor short-track system is operational, with continued trouble-shooting and design adjustment activities. The outdoor track is scheduled to complete construction and begin test operations by June 30, 2014. See photos below.
Challenges encountered in the demonstration projects have resulted in significant MagPipe system design changes to address system cost and performance factors, with resulting adverse effects on schedule, budget, revenues, manpower, marketing, potential third-party investment, and Company finances. In addition to system design changes, the product has been re-branded to "Magtrans" to remove the implied association with conventional pipelines. Despite the challenges, difficulties, and delays, continuing expressions of interest in the technology from potential mining sector customers, primarily in Asia, have provided the HK entity, ZMM, and the Company incentive to persist in the Magtrans development and marketing effort.
Magplane Maglev Systems. Since September 15, 2013 the Company has continued to pursue conversations in Asia with potential customers, strategic allies, and potential investors regarding possible initiatives for advancing commercial development of Magplane Maglev Systems technologies and services. To date these efforts have not resulted in revenues or third-party investment, and they continue to face costly and lengthy technology and infrastructure development horizons. Company management believes its maglev solutions and China’s continuing interest in maglev technologies as a 21st Century transit alternative for China justify the Company’s continued commitment to the Maglev initiative.
Company Financing. Since September 15, 2013, the Company has continued to seek new direct equity investment or alternative financing for MTI to support its Magtrans and Maglev development projects. Its efforts have been unsuccessful to date, due in part to the Company’s equity structure, debt circumstances, and limited revenues, and in part to the complexity and scale of technology and market development challenges for Magtrans and Maglev. The Company has sought, as well, during this time to assist third parties in Asia in bringing further financing into the HK entity to support accelerated development and marketing of Magtrans
6 MERRILL INDUSTRIAL DRIVE, UNIT 10, HAMPTON, NEW HAMPSHIRE 03842
Magplane Technology, Inc.
News Release, April 10, 2014
technology, including further support of the Company’s design, engineering, and project management subcontract services. These joint efforts have succeeded thus far only to a degree sufficient to allow the Company to maintain core engineering staff and to acquire products, IP licenses, and third-party services needed to service the HK subcontract and ZMM projects.
Magplane Technology, Inc.
Founded by a group of MIT engineers, Magplane Technology, Inc. (MTI) is the developer of a unique magnetic dry bulk materials transport application (“Magtrans System”) that can reduce the cost, environmental impacts, and pollution from haul roads, diesel trucks, and conventional rail spur operations typically used in transporting material from mining operations to trunk rail heads and port terminals. Magplane Technology is also the developer of the Magplane Maglev system, an innovative magnetic levitation (maglev) transportation system that offers significant advancements over other high-speed trains, light-rail transit systems, and existing maglev systems. MTI headquarters are now located in Hampton, New Hampshire. For more information on the Company, visit http://www.magplane.com
or contact: Dr. D. Bruce Montgomery, Chair, Magplane Technology, Inc., email@example.com Notice Regarding Forward-Looking Statements in this News Update This news update may contain "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this update that are not purely historical may be forward-looking statements and include any statements, direct or implied, regarding beliefs, plans, aspirations, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, suggestions or projections of potential benefits to MTI that may result from the ZMM Demo Projects, from alliances among ZMM, third parties, MTI affiliates, and MTI, or from ZMM or third party investment in, or licensing, marketing, fabrication, construction, installation, and operation of Magtrans Systems. Actual results could differ from any projected, suggested, or implied in any such forward-looking statements, due to numerous risk factors, including, among others, the inherent uncertainties associated with new technology development companies such as MTI. Such uncertainties include, without limitation, uncertainties related to technology performance, scalability, and cost-effectiveness, and multiple uncertainties that may challenge transnational strategic alliances, including, without limitation, economic, monetary, political, and regulatory uncertainties. Any such forward-looking statements in this news update are made as of the date of this news update to MTI shareholders and others, and we assume no obligation subsequently to update the forward-looking statements, or to update the reasons as to why actual results could differ from those projected in the forward-looking statements.