BRANCHBURG, N.J. and TAIPEI, Taiwan, Oct. 28, 2011(See Article) /PRNewswire/ -- 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.