Chicago, July 21, 2010 — A public private partnership led by Illinois Science and Technology Coalition, announced the signing of several agreements for smart grid innovations.
The four projects, each backed through a parallel South Korean public-private partnership, is expected to provide more than $20 million to develop technological infrastructure, deploy energy optimization solutions, improve grid cyber-security and create a workforce ready to develop next generation energy solutions.
This landmark, globally connected public-private partnership that meshes the expertise of industry innovators, visionary government leadership and sophisticated NGOs will produce unmatched smart grid clusters in Illinois and South Korea that will yield economic development, create jobs and accelerate product development.
Others Illinois members of the public private partnership include the State of Illinois, City of Chicago, Citizens Utility Board, ADICA, Building Owners and Managers Association/ Chicago/Chicago, the University of Illinois/Information Trust Institute and the Illinois Institute of Technology.
Korean participants include the Korean Ministry of Knowledge Economy, Korea Smart Grid Institute, Korea Smart Grid Association, KT, LG, Samsung, among others.
“This unprecedented collaboration is backed by an innovative team that is bringing the smart grid to life, and making Illinois a center for smart grid-derived economic opportunity,” said Matthew Summy, President and CEO, ISTC. “Not only will this groundbreaking partnership benefit universities, businesses and government entities in Illinois, but it will also help move the nation toward a smarter and greener grid.”
Korean partners, through multiple channels, are providing an initial round of investment for Illinois-based projects that will demonstrate smart grid business opportunities and advance R&D on technologies that produce a more efficient and reliable smart grid:
* Illinois Smart Buildings Project: Supported by Building Owners and Managers Association/Chicago, this project will include deep energy audits on loop-area high-rises in order to set up a multi-building regulation services and energy efficiency project. By installing new technologies to network buildings and enable smart grid strategies — such as demand response and variable operations of building systems — large properties like the AON Center can reduce energy use and costs by hundreds of thousands of dollars per year, and decrease their carbon footprint. This project is supported by the Korea Smart Grid Association, KT and LGE.
* Building Energy Management Systems and Distributed Energy Resources Integration: The Illinois Institute of Technology will sign two agreements to conduct research and development to improve building energy management systems, develop distribution automation strategies, integrate renewable energy sources and energy storage technologies into the smart grid and increase power systems reliability. These projects are supported by the Korea Smart Grid Institute and the Korea Electrotechnology Research Institute.
* Cyber Security in Grid Trustworthiness: The University of Illinois at Urbana-Champaign’s Information Trust Institute will partner with the Korean National Security Research Institute on research and development initiatives to improve cyber and grid security and network resiliency.
* Global Workforce Training and Development: The Illinois Institute of Technology and ADICA will build out its professional training and development programs in this sector to solidify Illinois as a hotbed for education and training opportunities in the smart grid sector. Through a global partnership with the Korea Electrical Engineering and Science Research Institute, this center will bring industry professionals from around the world to IIT to develop new strategies and techniques for business innovations that will result from the deployment of a smart grid.