LITTLE FALLS, N.J., May 6, 2009 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCBB:XDSL) today announced their participation in the upcoming Smart Grid Implementation Summit from August 17-19 in Washington D.C. mPhase CEO Ron Durando will be on the Technology Thought Leadership Panel with other technology innovators in the smart grid field. So far, joining Mr. Durando on the panel is Bob Gilligan, VP of General Electric Energy Transmission and Distribution. The session will take place on August 19 at 8:15 AM and will be moderated by Branko Terzic, Regulatory Policy Leader -- Energy & Resources at Deloitte.
The Thought Leadership Panel will discuss the future of smart grids and highlight some of the cutting edge technologies that are preparing for the full scale deployment of smart grid initiatives surrounding the following topic areas: infrastructure, metering, communications, batteries and renewable energy sources. Mr. Durando will be representing mPhase to discuss state-of-the art technology developments that could contribute to smart grid implementation.
The Smart Grid Implementation Summit promotes action among the electric power utility companies, policy stakeholders and smart grid technology companies on electric grid modernization by demonstrating clear impacts and benefits of leading smart grid pilots. The Summit addresses major challenges facing the smart grid industry in managing demand response technology, navigating the policy landscape, promoting interoperable standards, addressing customer privacy and cyber security concerns, and evaluating smart grid performance and impact on existing assets and operations.
mPhase was invited to participate in the event because of the groundbreaking advancements made by the company in developing the Smart NanoBattery which has several potential uses relating to smart grids. Power grids require power monitors and sensors to be located throughout the grid as a means of collecting data and transmitting information to the computer systems that manage and regulate the grid's flow of electricity. In many cases, these sensor devices will be powered by individual batteries. The mPhase Smart NanoBattery is an attractive power source that could be used to provide primary or emergency back up power to these remote sensors. In certain low power drain devices, the Smart NanoBattery can potentially provide continuous power for up to 20 years uninterrupted. If utilized as a reserve power source, the Smart NanoBattery would automatically begin powering the device if the primary power source failed. This could potentially reduce the possibility of a service interruption.
"It is an honor to receive the invitation to participate in the Technology Thought Leadership Panel," said mPhase CEO Ron Durando. "I look forward to meeting with key figures in the smart grid arena as we work toward utilizing our Smart NanoBattery to contribute to future smart grid implementation. mPhase is aggressively pursuing stimulus funding that would aide the implementation of our technology." The most recent stimulus package has set aside $4.5 billion for smart grid technology advancements.
About mPhase Technologies, Inc. and AlwaysReady, Inc.
mPhase Technologies, Inc. (OTCBB:XDSL), through its wholly owned subsidiary AlwaysReady, Inc., is focused on developing and commercializing a new battery technology based on a well-patented phenomenon known as electrowetting, which provides a unique way to store energy and manage power that will revolutionize the battery industry. For more information, please visit our website at www.mPhaseTech.com.
The mPhase Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6037
Safe Harbor Statement
This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management of companies mentioned in this press release in light of current conditions, expected future developments and other factors they believe to be appropriate. Actual results may differ as a result of factors over which the company has no control.