Jun 20, 2010

MIC Electronics signs MoC with IOCL

  • Collaboration aims to resolve technological issues while conserving power 
  • MIC now able to utilize IOCL marketing might and resources 
  • Collaboration to have triple objectives of Product Development, Performance Validation and Commercialization of developed products 
Hyderabad based company, MIC Electronics Limited announced its Memorandum of Collaboration with Indian Oil Corporation Limited in a function held in Delhi last 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 Source Based 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 technological 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 IOC Marketing Division. Their Memorandum of Collaboration aims to further improve the quality of the already marketed solar lantern, develop new variants of the same as well as many other new generation products having complimentarity 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 LED 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 opportunity to develop new generation solar energy products.”
MIC Electronics will now be able to utilize the marketing might and resources of IOCL, which is India’s largest company in terms of sales.
IOC and MIC wish to collaborate with each other in LED based lighting systems and its complimentarity with solar energy with three broad objectives.
  • Product development: To develop cost effective & efficient solar LED lanterns and other products considering requirements for various income strata in rural India.
  • Performance Validation : To jointly evaluate the developed products and generate sufficient data so as to design the specification with drawings (where ever needed)
  • Commercialization 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 
  • Other products for rural and urban environments 
  • 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
Eventually, the scope of operations can be extended to LED manufacturing and chip manufacture and any area where joint work is found possible and beneficial.
About MIC Electronics Limited:
MIC Electronics Limited is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988.
Today, MIC's flagship products are LED Video Displays (indoor / outdoor / mobile), that have become an integral part of Sports Stadiums, Transportation Hubs, Digital Theatres and Theme Parks, Advertisements and Public Information Displays.
Headquartered at one of the fastest emerging IT cities, Hyderabad (India), it has nation wide presence in the form of a vast network of marketing, sales and service support centres in all metros of India. To meet the demand of its products worldwide, it has offices in Australia, €Korea and USA. Now the company is gradually setting up operations in other international markets


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With thanks
Be and make

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