PowerStream, Korean utility agree to work together
VAUGHAN, ON -- - A Memorandum of Understanding MOU signed recently between PowerStream and the Korea Electric Power Corporation KEPCO, South Korea's only electric utility, has set the framework for the two companies to work together on a project which will be of mutual benefit.
The MOU, signed by Mr. Brian Bentz, PowerStream President and CEO and Dr. Cho, Hwan-Eik, KEPCO President and CEO, in an official ceremony at PowerStream's head office, specifically references the use of Micro Grid and Smart Grid technologies with an objective of developing a large-scale application that would serve as a model for further advancement of these technologies in world-wide electricity distribution systems.
Both PowerStream and KEPCO are proven leaders in the implementation and use of Smart Grid and Micro Grid technologies within their respective jurisdictions. In 2013, PowerStream built a Micro Grid demonstration project at its head office while KEPCO has committed to invest over $7 billion US in its smart grid business by 2030 to make electricity distribution more efficient and decrease Korea's greenhouse gas emissions.
Joining the two utility CEOs at the recent signing ceremony were a delegation of officials from KEPCO as well as members of PowerStream's Board of Directors, Executive and Senior Leadership Teams.
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