MIC Electronics partners with IOCL
MIC Electronics, manufacturer of LED video displays, electronic and telecom equipments, has entered into a Memorandum of Collaboration (MoC) with Indian Oil Corporation Limited (IOCL) to develop and market solar and LED light source based products.
Both, MIC Electronics and IOCL have already initiated pilot marketing of solar based LED lanterns on a commercial scale in few select state offices of IOC Marketing Division. The collaboration would look to further improve the quality of already-marketed solar lantern and develop new variants of the same. “It is an excellent opportunity to develop new generation solar energy products,” said V Muthuswamy, COO, MIC Electronics.
Both the companies will work towards developing new generation products which are having complementarity with solar energy or with energy efficiency. They will jointly undertake assignments for customers in India and abroad, utilizing the expertise and the facilities available to each of them. The collaboration will focus on combining LED with solar power.
Dr. RK Malhotra, Executive Director, IOCL, said: “Together, our main objective will be the study and development of combined solar and LED light source based products as well as projects for foray into green and energy efficient technologies demonstration.”
MIC Electronics said it will now be able to utilise the marketing might and resources of IOCL, which is India’s largest company in terms of sales.