TOKYO (dpa-AFX) - Mitsubishi Electric Corp. (MIELY.PK, MIELF.PK, 6503.T) Wednesday said that it has signed a basic agreement with Taiwan's Industrial Technology Research Institute or ITRI, in collaboration with Mitsubishi Electric Taiwan Co., Ltd to develop high-voltage, high-current power conversion systems.
The company said that these power conversion systems or PCS make use of advanced power semiconductors to convert electricity generated from renewable sources such as solar and wind power.
As per the terms of the agreement, Mitsubishi Electric will provide its advanced power semiconductor modules, while Mitsubishi Electric Taiwan will contribute its marketing expertise. ITRI will offer its technology for efficiently converting high-voltage, high-current electricity. The company said in a statement that the collaboration aims to develop a megawatt-class PCS prototype equipped with these semiconductor modules for demonstration testing.
Through this collaboration, Mitsubishi Electric and Mitsubishi Electric Taiwan plan to expand their power semiconductor module business by sharing design information and test results with users, thus helping them effectively utilize the technology in PCSs.
Looking ahead, Mitsubishi Electric said that the collaboration with ITRI will work towards supporting the global green transformation or GX by advancing technologies that enable more efficient conversion of renewable energy into usable electricity.
MIELY.PK ended Monday's trading at $50.70, down 0.37 percent on the OTC Markets.
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