Part of the Bitgaram energy valley project, will be the esrablishment of a Energy Valley Centre for business incubation support. Total planned investment in R&D and company contribution by KEPC totals US$ 240m in 2015
Part of the Bitgaram energy valley project, will be the esrablishment of a Energy Valley Centre for business incubation support. Total planned investment in R&D and company contribution by KEPC totals US$ 240m in 2015
An Energy Valley Centre for business incubation support is part of the Bitgaram Energy Valley Project. Total planned investment in R&D and company contribution by KEPC is expected to total US$240m in 2015

In East Asia, the Korea Electric Power Corporation has signed a MoU with South Korean telecommunications and mobile phone operator LG U+ to develop next-generation smart grid business models by creating synergies between electricity and Internet of Things technologies.

The announcement was made at the launch of the Power-IoT Convergence Center, part of  'Bitgaram energy valley', a Glocal (Global+Local) Energy Cluster that Korea Electric Power Corporation is driving forward.

The Internet of Things centre was established as part of follow-up measures of a SG Business Cooperation MOU signed by both companies in May.

The Seoul-based electric utility and the Korean telecommunications and mobile phone operator, controlled by the LG Group, had also established a working group after the signing of the MoU.

According to Business Korea, the two companies will work together to “improve the energy efficiency of buildings based on Internet of Things technology, provide power consumption information through IPTV in real time and develop a real-time electric power facility safety monitoring solution based on LTE technology.”

KEPCO and LGU+ will also work together to secure the security system of AMI communications networks and Internet of Things-based electric power facilities, as well as develop smart grid business models for industrial complexes.

Under the MoU, the state utility and telecommunications operator will collaborate with other relevant domestic companies to actively develop international and domestic smart grid business models.

Intel opens Internet of Things lab in Ireland

Meanwhile, in the UK, Ireland has been chosen as the location for Intel’s new Internet of Things Innovation & Development Ignition Lab, with the purpose of collaborating with local companies in research efforts and to develop technologies for the IoT marketplace.

The computer giant’s new Ignition Lab will lend itself to tech companies based in Ireland and will focus on smart homes and buildings, smart cities, smart cars, energy and utilities and smart agriculture.

The new facility is located at Intel’s Leixlip campus, which is the Intel Labs IoT Systems Research Lab – focusing particularly on distributed computing, machine-to-machine communication, IoT applications and data analytics.

The new lab has already begun working with established Irish brands such as Kingspan, Glen Dimplex and Keenans on a broad array of IoT projects.

Intel has thus far established five Ignition Labs in Europe and the Middle East, including in the UK, Sweden, Germany, Turkey and Israel.