RVC and Korean Company LSIS Agree to Share Innovations in the Field of Smart Energy Systems

RVC and Korean Company LSIS Agree to Share Innovations in the Field of Smart Energy Systems

PR Newswire

MOSCOW, October 30, 2018

MOSCOW, October 30, 2018 /PRNewswire/ --

RVC and the Korean electric power company LSIS have agreed on an exchange of technological innovations in the field of equipment, software, engineering and services for the electric power systems market, as part of the implementation of the EnergyNet National Technology Initiative roadmap. A relevant memorandum was signed at the International Open Innovations Forum by Mikhail Antonov, the Director for Innovative Infrastructure Development at RVC  and Bong Hyun Kwon, the Executive Vice President and Chief Technical Director of LSIS.

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The main direction of cooperation will be the exchange of experience in the development and introduction of technologies in the field of the generation of smart energy and a commercial introduction of innovations in the Russian and Korean markets. The parties will provide each other with expert and engineering support and assistance in promoting the products of domestic companies abroad. The memorandum was signed within the framework of the implementation of the roadmap of the EnergyNet National Technology Initiative, aimed at the development of the multi-scale integrated systems market and services for smart energy systems in Russia.

"In the field of development of the electrical power sector, our countries face similar tasks: optimisation of energy consumption, reduction of accident rates at power plants and in the grid network and the improvement of user-friendly features for the end-users. We highly appreciate the support of the Korean partners and we are confident that the exchange of experience between our countries will help to promote domestic innovation companies to international markets," said Mikhail Antonov, the Deputy General Director - Director for Innovative Infrastructure Development at RVC.

"Today's signing is our first experience of cooperation with Russia. Korea has a rich experience in the development of smart technology systems and we believe these technologies have a great future. This venture is a significant contribution to our cooperation," said Bong Hyun Kwon, the Executive Vice President and Chief Technical Director of LSIS.

The road map of EnergyNet NTI was approved by the Executive Committee of the Council under the President of the Russian Federation on the modernisation of the economy and innovative development in Russia in 2016. It is aimed at the development of new technologies in the electric power industry, creation of new products and development of new markets for an efficient and user-friendly ecosystem for interaction between the energy producers and consumers. According to the roadmap plans, by 2035, the volume of revenues of Russian companies in the global integrated systems and smart energy systems services market should be at least 40 billion US dollars a year. Domestic manufacturers should take a significant share in the international market: reliable and flexible distribution networks - 10-12%; smart power generation distribution - 3-6%; consumer services - 3-6% of the world market.

RVC has been cooperating with South Korea in the field of innovation since 2014. RVC partners include major Korean development institutions, universities and corporations. RVC cooperates with the Ministry of Commerce, the Industry and Energy of the Republic of Korea, the Korean Institute for the Advancement of Technology (KIAT), the Korean Technology Venture Fund and Samsung Research Centre in Russia.

Reference Information:   

RVC JSC is the State fund of funds, the institute for the development of the venture industry in the Russian Federation. The main objectives of RVC JSC are to stimulate the development of the private venture investment industry in Russia and implement the functions of the Project Office of the National Technology Initiative (NTI). The authorised capital of RVC JSC is over 30 billion RUB. 100% of the capital of RVC is owned by the Russian Federation represented by the Federal Agency for State Property Management of the Russian Federation (Rosimushchestvo). The total number of funds formed by RVC has reached 26, their total size is 41.8 billion RUB. The share of RVC JSC is 24.8 billion RUB. The number of portfolio companies of RVC funds is 225. The total amount of funds approved for investment is 18.6 billion RUB


LSIS is a world leader in the field of power supply, automation and green technologies. The global network consists of more than 20 foreign branches and subsidiaries. The equipment is manufactured at nine factories in Korea and abroad. It exists since 1974. The representative office was opened in Moscow in April 2014. 


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