Dow Corning, LG Electronics and Seowon University Announce Memorandum of Understanding for PV System Installations
CHUNG-JU, South Korea--(BUSINESS WIRE)-- Dow Corning Corporation has entered into a memorandum of understanding (MOU) with LG Electronics and Seowon University relating to innovative photovoltaic (PV) systems using LG Electronics modules made with Dow Corning silicone encapsulation technology for installation on Seowon University's premises in South Korea.
The planned installation of a rooftop PV system on the Seowon University campus in 2012 of a 15 kilowatt (kW) array is for testing and evaluation. Later, a larger array generating up to 1 MW of power may be installed for potential commercial usage. In addition to providing in-field demonstration of Dow Corning's PV encapsulants, the PV system will provide side-by-side performance monitoring of the silicone and ethylene vinyl acetate (EVA)module encapsulants.
"Dow Corning is proud to work on innovative technology with LG Electronics and Seowon University. We share a culture of innovation and a dedication to renewable, solar power," said Eric Peeters, Vice President of Dow Corning. "We anticipate these PV systems made with Dow Corning silicone encapsulants will produce the same improved performance and reduced panel degradation that we've demonstrated in lab tests."
"LG Electronics' PV products have built a solid reputation in the global market due to our high standard of quality control and commitment to customer service," said Lee Chung-ho, solar business division leader of LG Electronics. "LG will continue focusing on innovation as we aim to achieve the highest PV system performance in the solar market."
"At Seowon University, one of our main areas of focus is fostering environmentally friendly technology," said Son Suk-min, chancellor of Seowon University. "We are happy to be able to work with Dow Corning and LG Electronics to contribute to the innovation of new PV technologies and the growth of solar."
About Dow Corning
Dow Corning (dowcorning.com) provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicones, silicon-based technology and innovation, Dow Corning offers more than 7,000 products and services via the company's Dow Corning® and XIAMETER® brands. Dow Corning is equally owned by The Dow Chemical Company and Corning, Incorporated.
A trusted technology partner to the solar industry, Dow Corning Solar Solutions deliver innovative, silicon-based solutions that improve system performance and help advance solar energy markets around the world. Utilizing more than 70 years of expertise, Dow Corning solar solutions help create more powerful, profitable and reliable solar systems, reducing the levelized cost of energy (LCOE) and making them more competitive.
About LG Electronics
LG Electronics, Inc. (LG) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances. The company has 110 operations around the world, with global sales of $ 49 billion in 2011. LG consists of four business units - Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Energy Solutions.
Dow Corning Corporation
SuYeon Lee, +82-10-4901-1841
KEYWORDS: United States Asia Pacific North America Michigan South Korea
The article Dow Corning, LG Electronics and Seowon University Announce Memorandum of Understanding for PV System Installations originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.