I-ON Communications, SK E&S, and KEPCO enter into MOU for the development of a new energy solution business modelDate Created : 2021-11-02
I-ON Communications Co., Ltd. (“I-ON”, “Company”), an energy ICT expert with more than a decade of experience in the energy business, is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with a global green energy company, SK E&S, and the largest electric utility in South Korea, Korea Electric Power Corporation (“KEPCO”).
According to the MOU, the parties would mutually develop an integrated distribution network management solution for the operation of renewable energy distribution networks and create a new energy solution business model. Through this business agreement, KEPCO will provide its electricity distribution technology that will be used together with the I-ON’s VPP platform for real-time operation and operation planning of the energy distribution, as well as managing and operating distributed resources at one of the environments operated by SK E&S.
I-ON’s VPP platform optimizes various distributed resources at the community level, supports business applications according to each market, and is drawing attention in overseas energy markets. The Company is also set to launch a SaaS-based VPP platform.
Through KEPCO’s consulting services and know-how related to the operation and management of the distribution system, the Company will develop new technology and energy solution business model. As a result, this business will allow SK E&S and I-ON to further expand the domestic/international market with a jointly developed energy solution business model using KEPCO and I-ON technology.
“We are delighted to join hands with a global leader in clean energy such as SK E&S, and the largest Korean electric utility KEPCO. This mutually beneficial business is bringing together a power distribution system environment and technology that are together set to unlock the immense potentials in the energy sectors. We are excited to build a new energy solution business model through this partnership and open a new direction for the industry,“ said James Jaecheol Oh, I-ON Communications’ CEO.
About I-ON Communications
I-ON Communications Co., Ltd., founded in 1999, entered the energy tech sector in 2010 by developing Korea’s first DRMS and soon after expanded to Japan and Southeast Asian countries. EIP (Energy Business Department at I-ON Communications, www.eipgrid.com), with a wide range of solutions including DER portfolio management, Micro-Grid, V2G, VPP, etc., is leading diverse energy projects around the globe with local partners, industry leaders, and government organizations, and is now dominating the market in Korea and Asia as a leading community nano-grid service provider.