Siemens and Wasion have entered into a strategic cooperation framework agreement to conduct research on feasibility of jointly striving smart grid pilot projects in China.
Pursuant to the terms of the agreement, the companies will establish a joint strategic cooperation team to conduct such feasibility researches in the areas including smart consumption of electricity, smart home, smart transmission and smart distribution of electricity for the China market.
Wasion said that the agreement sets out the general principles of cooperation between the parties. Detailed terms of further technical cooperation will be subject to definitive contracts to be entered into by them.
The agreement has an initial term of one year and will automatically renew for a further term of one year upon the expiry of the initial term.
Wasion is principally engaged in development, manufacture and sale of electronic power meters and data collection terminals, and the provision of software development services.