Establishing a new Luminous research and development and manufacturing entity in Surrey
Luminous Power Technologies a leader in Power Backup solutions for home, commercial, telecom towers & renewable energy systems, has signed a MoU with the City of Surrey and Simon Fraser University plans to form a partnership on clean energy systems development and manufacturing in Surrey, British Columbia.
The aspiration of this cooperative effort is to support the establishment of a new Luminous entity in Surrey while fostering research and education partnerships with Simon Fraser University Surrey campus to simultaneously build a stronger sustainability sector particularly in the area of clean energy in Surrey.
Surrey is well positioned for economic growth in an emerging sustainability and clean technology sector. This fast growing city has a number of crucial advantages, including SFU, a highly respected research university equipped with state of the art research tools and facilities and a proactive city government.
The new partnership with Luminous will act as a strategic private sector initiative focusing on clean energy systems development and manufacturing, with linkages to energy engineering research and education, company incubation, energy-related sustainability projects and related economic growth in the clean energy sector. The partners will consult and involve other industrial and academic institutions and the provincial and federal levels of government to make this cooperation relevant and beneficial to Luminous, SFU and the entire sustainability sector in Surrey
Luminous, SFU and Surrey are specifically looking to work together in:-
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· Establishing a new Luminous research and development and manufacturing entity in Surrey.
· Developing a collaborative research program with SFU in support of the development of a new generation of Luminous products at the new Surrey facility, and
· Supporting Surrey’s sustainability and clean energy initiatives
Speaking on the occasion, Mr. Rakesh Malhotra, Founder and CEO, Luminous Power said, “Having been in the power business for more than two decades we strongly believe that clean technology is not simply a buzzword but a very urgent need of government around the world. Climate change initiatives and finite natural resources have compelled government and companies alike to look for renewable and clean technologies. Luminous Power’s association with SFU and Surrey is an important step in that direction and would ensure the development of innovative and cost effective sustainable clean energy solutions through continuous R&D. We are confident that Luminous Power’s market knowledge coupled with the best scientific minds at SFU and cooperation from the city of Surrey would yield very encouraging results in the near future”
About Luminous Power Technologies:
Luminous Power Technologies (P) Limited is a leading global company delivering high quality power products for home and commercial applications. The company’s group portfolio includes Power Backup, Power Storage, Distributed Power Generation, Renewable & Alternate Energy solutions like Solar, Wind & Hybrid solutions, Infrastructure Solutions for IT & Telecom, Engineering Design & Support Services, Plug-in Hybrid Electric Vehicles, Electricals, Water Purification and Mobile Phones & Accessories. Founded in 1988, the group has revenue exceeding US$ 250 million in FY 09-10 and projected to be US$ 500 million by FY 10-11.
Luminous apart from its dominating position in the domestic market has strong foothold in over 36 countries worldwide. Its Global Technology Centers located in India, United States & China deliver cutting edge technology that goes into making every Luminous product a class apart from its competitors. Luminous follows its proprietary UGC (Universal Grid Compatibility) process to ensure consistency & very high standards of reliability of its products across the globe. Luminous has been consistently winning awards & accolades for market leadership and excellent reliability of its products in domestic as well as international arena. Luminous is the proud recipient of Frost & Sullivan Industry Technological Leadership Award for market penetration in DC-AC Inverters in Non Renewable Energy markets in Asia Pacific.