##innovari SIGNS CONTRACTS WITH THREE INDIA UTILITIES IN SUPPORT OF THE COUNTRY’S ENERGY INITIATIVES
AUSTIN, Texas, January 27, 2015 – Interactive energy platform developer, Innovari, announced today its continued support of India’s energy goals at a signing ceremony as part of its ongoing efforts with the U.S. Department of Commerce and the U.S. Trade and Development Agency (##ustda).
The event occurred during President Obama’s visit to India where he unveiled a number of initiatives to help the country expand research in, and gain access to, clean energy technologies. Helping to advance the U.S.-India partnership, the signing ceremony recognized Innovari’s efforts with three utilities in India to help optimize the country’s power grid. The specific utility announcements will be made in the coming weeks. These contracts come on the heels of recent #news that the country is to spend $21.6 billion on smart grid infrastructure by 2025.
“As President Obama’s second visit to India comes to an end, I could not think of a more fitting time to announce such significant progress between our two countries to help bring electricity to every home in India,” said U.S. Assistant Secretary of Commerce Arun Kumar. “Electricity is the life blood of any economy. Today’s signings between Innovari and several of India’s leading energy firms is a concrete example of clean energy cooperation that will advance the Prime Minister’s goal of securing electricity for everyone.”
“India realizes how important electricity is to their growing economy and has made tremendous progress with their energy initiatives. We are excited to be part of today’s signing ceremony that signifies another significant step forward to provide reliable, clean, and affordable energy,” said Chris Hickman, Innovari CEO. “India continues to show leadership in this space with these joint US-India initiatives. Innovari has been very fortunate to have the opportunity to work with these leading utilities in India and the excellent U.S. teams within USTDA and Commerce. We look forward to the continued growth of our strong partnerships.”
“USTDA is proud to have sponsored the pilot project that enabled Innovari to clearly demonstrate the value of its platform in India,” said USTDA Director Leocadia I. Zak. “We are pleased to have had the opportunity to support Innovari’s entrance into this dynamic market, and to see such tremendous progress from one of our U.S. industry partners.”
Innovari’s Interactive Energy Platform (IEP) will help improve the reliability and efficiency of the grid while also helping the utilities engage with their commercial and industrial users. Innovari’s IEP, comprised of a fully automated demand side management and grid monitoring system, allows the utility to monitor and control operations, communicate with its customers in real-time and control the electrical load to optimize overall grid utilization. In working with some of the most progressive utilities in India, Innovari is building partnerships to create a new energy platform that will help enable the power grid to be more flexible and efficient while also allowing it to safely and reliably incorporate distributed and renewable energy resources.