DTE Energy Technologies and Samsung Techwin Sign Memo of Understanding

June 14, 2001 by Jeff Shepard

DTE Energy Technologies (Farmington Hills, MI) and Samsung Techwin (Korea) announced the signing of a memorandum of understanding providing for the formation of energy|now Korea. The companies intend to establish this Korean-headquartered joint venture in early 2002 as the major participants, and may invite other strategic partners to join the venture.

DTE Energy Technologies will bring to the joint venture its portfolio of distributed-generation technologies, mini- and micro-grid expertise, systems operation center expertise for energy monitoring and management, and its energy|now brand. Samsung will bring access to customers, sales offices and marketing infrastructure, logistical services, manufacturing/packaging, fuel supply, and power trading.

“As we prepare for the commercial launch of many of our new distributed-generation products and services, we have been actively pursuing strategic relationships with major corporations and utilities around the world,” said G. Paul Horst, president of DTE Energy Technologies. “Samsung Techwin shares our vision of distributed generation providing highly reliable and high-quality power to world markets. Samsung brings not only a highly respected presence for us in Korea but also a deep undestanding of the technology.”