Noveda Technologies Signs Letter Of Intent To Provide Energy Monitoring Solutions For Taiwan

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29th October 2010, 10:11am - Views: 1770

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Noveda Technologies Signs Letter of Intent to Provide Energy Monitoring Solutions for Taiwan

BRANCHBURG, N.J. and TAIPEI, Taiwan, Oct. 29 /PRNewswire-AsiaNet/ --

          Delegation from Taiwan's Ministry of Economic Affairs Visits

                    Noveda in New Jersey for Signing LOI

    Noveda Technologies, the leader in web-based real-time monitoring systems, and the government of Taiwan's

Ministry of Economic Affairs (MOEA) signed a letter of intent today for Noveda to assist in developing

comprehensive monitoring solutions for the country. The entry into Taiwan furthers Noveda's plan of worldwide

market expansion.

    According to the letter of intent, Noveda will work with the MOEA and

various government agencies to jointly explore monitoring solutions that will

empower Taiwanese consumers to optimize their electricity and water usage in

the commercial, industrial and residential sectors.

    In cooperation with the MOEA, Bureau of Energy, Department of Industrial

Technology, Institute for Information Industry, and the Industrial Technology

Research Institute, Noveda will begin visiting with energy management

companies in Taiwan to identify potential partners for technology development

and smart grid solutions for the Taiwanese market. Responding to an

invitation by the Deputy Minster Sheng-chung Lin, Noveda plans to establish

local operations in Taiwan to develop the country's energy solutions market.

    "We are honored and very excited to partner with the Ministry of Economic

Affairs in Taiwan as they seek to move toward energy independence and smart

grid technologies," said Govi Rao, president and CEO of Noveda Technologies.

"It gives us great pride to be recognized for our capabilities, and we look

forward to collaborating with premier institutions like ITRI in Taiwan to

continuously innovate data acquisition and analytics, to provide affordable

solutions for the smart grid."

    The head of the Taiwan Delegation, Deputy Minister Lin, commented, "Green

energy is one of Taiwan's government-promoted 'Six Emerging Industries'. As

the fourth largest solar cell manufacturing country in the world, we welcome

Noveda Technologies to invest and do business in Taiwan."

    Deputy Minister Lin added: "Noveda's platform is expected to have a great

market potential in Taiwan. The Taiwanese high-level delegation visited 11

companies from October 25 - 29 in CA, NJ, PA and NY, across various segments

including energy, biopharmaceutical, telecommunication, IT and software.


About Noveda Technologies

    Founded in 2007, Noveda Technologies is an innovative leader in real-time

web based energy monitoring and visualization for conventional and renewable

energy systems. The company's solutions (hardware, software and services),

enable energy optimization in buildings to lower energy costs and reduce

carbon footprint. Noveda's solutions are designed to jump-start the journey

to net-zero by providing real-time data transparency in buildings and lay the

foundation towards a smarter grid. The company's diverse client base includes

commercial / retail, industrial, government, and educational institutions.

Conservation Energy Noveda Technologies 3 image

SOURCE: Noveda Technologies

    CONTACT: Kelly G. Vanasse, +1-732-469-4518,

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