Empower Industries mulls JV with US-based Smart Power

New Delhi, Jan 11: Industries India Ltd today announced it plans to foray into power electronics industry through a joint venture arrangement with US-based Smart Power Systems (SPS) Inc.

As per the agreement, SPS will provide technical support for manufacturing products such as high-powered power supply, amplifiers and comparators, diodes and rectifiers, switches, power drivers and controllers, etc in India.

Negotiations for a JV between Empower and SPS are underway, after which Empower will set up a separate manufacturing facility for power supply with a capital outlay of Rs 100 lakh, the BSE-listed company said in a statement.

''The company is in the process of diversifying its activities into other greenfield areas. As a major step in that direction, Empower has identified power electronics industry involving advanced power conversion and regulation technology used in space satellite research, defence operations and high-end power utilities,'' it stated.

These products are presently manufactured by ABB, Siemens and Emerson.

The technology for the said products is patented in the US by SPS which is owned and managed by Mr Pradip Bhagwat, CEO of the company.

Besides power supply units, the company will develop the manufacturing and marketing of other products gradually.

UNI