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| Exchange Disseminated Time | MIC Electronics Ltd has informed BSE regarding a Press Release dated June 18, 2010 titled "MIC Electronics sing MoC with IOCL".
Press Release :
"Hyderabad based company, MIC Electronics Limited announced its Memorandum of Collaboration with Indian Oil Corporation Limited at IOCL Regd. center Faridabad. The function was held on 17th evening.
Executive Director, IOCL, Dr. R K Malhotra and General Manager, IOCL, Mr. Anup Kacker, who were present at the event, expressed their pleasure at the collaboration. "Together, our main objective will be the Study and Development of Combined Solar and LED Light Sam Bwsed Products as well as Projects for Foray into Green and Energy Efficient Technologies Demonstration" Said Dr. R K Malhotra.
"LED and Solar Power are basically facets of the same technology" Explained Mr. Anup Kacker. "Our collaboration aims to resolve a lot of technologic issues, while conserving power at the same time."
Both, MIC Electronics Limited and Indian Oil Corporation Limited have successfully initiated pilot marketing of solar based LED lanterns on a commercial scale in few select state offices of ICE Marketing Division. Their Memorandum of Collaboration aims to further improve the quality of the any marketed solar lantern, develop new variants of the same as well as many other new generation products having complimentarily with solar energy or with energy efficiency and to jointly undertake assignments for customers in India and abroad utilizing the expertise and the facilities available to each of them. The collaboration will focus on combining LBD with solar power.
"It is a matter of great pride to us to be associated with Indian Oil Corporation" said CMD, MIC Electronics, Dr. M V Ramana Rao.
V Muthuswamy, COO, MIC concurred saying "It is an excellent opportunely to develop new generation solar energy & LED products."
MIC Electronics will now be able to utilize the marketing might and reso- of IOCL, which is India's largest company in tans of sales.
IOC and MIC wish to collaborate with each other in LED based lighting systems and its complimentarily with solar energy with three bold objectives,
- Product development: To develop cast effective & efficient solar LED larders owned other products considering requirements for various income strata in rural India
- Performance Validation : To jointly evaluate the developed products and perate sufficient dab so as to design the specified with drawings (where ever needed)
- Commercialisation of developed products: To mutually decide and suitably commercialize the developed products / technologies beneficial to both.
- The scope of collaboration will include
- Products relevant to India which can be taken up for providing a cost effective and sustainable lifestyle
- both products for rural and urban enviornments
- IOC specific products and applications
- Pilot project for replacing traditional lighting with LED lights
- Training and consultancy services for LED lighting
- Joint consultancy and technical services to customers in India and abroad" |
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