Noveda and Wysine Announce Memorandum of Understanding to Explore Strategic Partnership

Oct 11, 2010, 09:15 ET from Noveda Technologies

BRANCHBURG, N.J. and CHENNAI, India, Oct. 11 /PRNewswire/ -- Branchburg, N.J. based Noveda Technologies and Chennai, India based Wysine Technologies today announced their intent to explore a strategic alliance. The two companies have signed a memorandum of understanding (MOU) to explore synergies in technology development as well as to seek market expansion opportunities worldwide.  

Under the terms of the MOU, the two companies will jointly evaluate opportunities to develop customized software and hardware requirements for real-time energy monitoring solutions designed for the industrial, commercial and residential markets worldwide.

"By combining our capabilities, we can deliver a holistic approach to monitoring, measuring and managing both conventional and renewable energy usage over the Internet," said Visweswaran Balasubramanyan, Director at Wysine Technologies.  Noveda's customizable platform is ideal for the commercial and industrial client base in emerging countries like India."

"We're pleased to partner with Wysine, and I am excited to work with such a highly innovative team, especially as we look to expand globally," stated Noveda CEO, Govi Rao. "This alliance enables us to leverage the core strengths of both companies as we build a unified approach to the market."

Rao further commented, "With our combined capabilities, we will be better positioned to jump-start our customers' journey to net-zero and lay the foundation for the advancement of smart-grid technologies. A good example is the SmartEN platform launched by Wysine, which will revolutionize the residential monitoring space in developed economies like the U.S."

Noveda Technologies, a recognized leader in data acquisition and analytics, and Wysine, known for its innovative hardware solutions, will look at ways to combine their specialties to deliver integrated, easy-to-use, cost effective solutions for energy, water and carbon management. The companies also plan to launch a global network operations center to provide customers with 24/7 assistance using their specific real-time data.

About Noveda Technologies

Founded in 2007, Noveda Technologies is an innovative leader in real-time web based energy monitoring and visualization for conventional and renewable energy systems.  The company's solutions (hardware, software and services), enable energy optimization in buildings to lower energy costs and reduce carbon footprint. Noveda's solutions are designed to jump-start the journey to net-zero by providing real-time data transparency in buildings and lay the foundation towards a smarter grid. The company's diverse client base includes commercial / retail, industrial, government, and educational institutions. For more information, visit www.noveda.com or call 908-534-8855.

About Wysine Technologies

Wysine looks at ROI as return on information rather than investment. Wysine's focus, therefore, is not only to enable customers to measure but also to manage their environments. Established in 2008 in Chennai, India, Wysine develops products and solutions in the energy, water and carbon management space. Wysine addresses the industrial segment through WyMon, an IP enabled monitoring and management solution which can be customized to address the specific needs of different industrial verticals. The commercial and residential markets are addressed by smartEN, which can monitor not only the entire facility but also individual loads and appliances. Wysine is a member of the Confederation of Indian Industry (CII), the Indian Green Building Council (IGBC) and the Intel India Design House program.

SOURCE Noveda Technologies



RELATED LINKS

http://www.noveda.com