Company Signs MOU with the University for the Global Expansion of
Clean and Green Investment Program
WATERLOO, Ontario, Sept. 19, 2011 /CNW/ -- Mahindra Satyam, a leading global consulting and IT services provider, today announced the development of Ontario's first Smart Grid Research and Innovation Center (RIC) on the University of Waterloo Campus in Ontario, Canada. The RIC will provide students, teachers and IT professionals the tools to foster and evaluate innovative developments of next generation smart grid technology. The Center development is part of an ongoing strategic memorandum of understanding (MOU) between Mahindra Satyam and the University of Waterloo.
"We are eager to work with the University of Waterloo as it takes a leadership role in the academic and technology communities by investing in smart grid initiatives and technologies," said Arvind Malhotra, Senior Vice President at Mahindra Satyam. "The Center will showcase the benefits of the ongoing smart grid technological revolution and will allow students, faculty and industry professionals to conduct cutting edge research with real world implications."
The RIC, developed in collaboration with the University of Waterloo's Institute for Sustainable Energy (WISE), will draw upon the collective expertise of University faculty members from areas including mathematics, chemistry, mechanical, computer, electrical and systems engineering. Mahindra Satyam's institutional expertise in smart grid data analytics, renewable systems integration, electric vehicles and integration with the distribution grid and micro-grids for rural and remote applications, will help to safely and responsibly develop innovative solutions for the Canadian and global community. The objective of the RIC will be to develop a curriculum and related training programs at the University for highly qualified professionals in the smart grid sector, validate and test innovative products and technologies before large scale implementation and provide facilities to University faculty and industry leaders for collaborative work in the sector.
"Ontario is now a leading global jurisdiction in the Smart Grid sector. This has been achieved through a judicious combination of far reaching Government policy initiatives and legislation. The next steps are to convert this advantage to provide Ontario companies a leg up to capture the opportunities in the global market place for solutions that are Ontario innovations," said Dr. Jatin Nathwani, Professor and Ontario Research Chair in Public Policy for Sustainable Energy Management.
Mahindra Satyam is uniquely positioned to deliver comprehensive services for the RIC by collaborating internally with the Mahindra Group: Bridge Strategy Group for Advisory and Strategy Consulting, Tech Mahindra for Communication and Security services, Mahindra Reva for EV technologies and Mahindra Solar for Renewable Energy technologies. The company recently announced the completion of its Smart Grid Customer Demonstration Center (CDC) in Hyderabad, Andhra Pradesh, India in June 2011.
The announcement also reflects Mahindra Satyam's ongoing momentum and investment in the Canadian market. Most recently, through its sister company, Tech Mahindra, the company established the Innovation Center for Mobility Solutions in Toronto, Ontario in June 2011.
About Mahindra Satyam
Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.
The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Mahindra Satyam is part of the $12.5 billion Mahindra Group, a global federation of companies and one of the top 10 business houses based in India. The Group's interests span automotive products, aviation, components, farm equipment, financial services, hospitality, information technology, logistics, real estate and retail.
Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
For more information, see www.mahindrasatyam.comFollow us on Twitter: http://twitter.com/mahindra_satyamFor clarifications, write to us at: MediaRelations@mahindrasatyam.com
About the University of Waterloo
The University of Waterloo, located at the heart of Canada's Technology Triangle, is one of Canada's leading comprehensive universities. Waterloo is home to 30,000 full- and part-time undergraduate and graduate students who are dedicated to making the future better and brighter. Waterloo, known for the largest post- secondary co-operative education program in the world, supports enterprising partnerships in learning, research and discovery. For more information about Waterloo, visit www.uwaterloo.ca.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Mahindra Satyam undertakes no duty to update any forward-looking statements.
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SOURCE Mahindra Satyam
For further information: Web Site: http://www.mahindrasatyam.com