08 Jan, 2019
I-ON Communications Broadens Partnership with Japan-based TIS INTEC Group to address Energy ICT market with EnerLink VPP+
SEOUL, South Korea, Jan. 8, 2019 /PRNewswire/ -- I-ON Communications Co., Ltd., a wholly-owned subsidiary of I-ON Communications Corp. (OTCQB: IONI) ("I-ON" or the "Company"), www.i-on.net, a Seoul, South Korea-based global enterprise software company focused on delivering leading CMS and unstructured data management products and solutions to mid and large-scale enterprises, is pleased to announce that it has broadened its existing partnership and client relationships with Japan-based TIS Inc. ("TIS"), a wholly owned subsidiary of TIS INTEC Group, which is one of Japan's leading IT integrators with over 20,000 employees, that provides enterprises in various industries with 58 products and solutions. In addition to currently offering and employing key components of I-ON's energy management system to address the demand response needs of Japan's power grid companies, TIS will now begin integrating its newly developed EnerLink VPP+ solution, a proprietary next generation virtual power plant that operates within its own cloud-based service environment to address the energy management needs of businesses.
"In early 2018, I-ON and TIS began a deeper dive on how to best address the fast-growing need for distributed energy management and VPP solutions for grid connected renewable energy sources. Introducing and bringing our proven solutions together in hopes of delivering an enhanced, reliable energy and cost-efficient product offering to the Japan market was critical and also a reflection of I-ON's ability to cross-sell from successful CMS deployment to energy ICT solutions offerings," stated Mr. James Oh, Chairman of I-ON.
Popular in the U.S. and Europe, but a rapidly emerging sector in Japan and across East Asia, VPP is a cloud-based distributed power plant that aggregates the capacities of energy resources at the requests of power transmission and distribution service providers for the purposes of enhancing power generation more reliably. VPP typically integrates small-scale power plants or energy storage facilities for residential settings, buildings, factories and incorporates them into a remotely controlled virtual power station using a sophisticated set of software and IT systems. These systems tap into existing grid networks to tailor electricity supply and demand services under changing load conditions both quickly and in real time, thus maximizing value for both the power generator and end user. Most industry observers currently peg the global VPP industry at $8-$12 billion -- double from just a few years ago -- and forecast the industry will grow annually at a mid to high double-digit rate through 2025, driven by investment in the U.S., Europe and Australia with South Korea and Japan leading the way in East Asia.
"We continue to remain optimistic that our relationship with TIS will lead to successful commercial deployments beginning in early 2019 and contribute to I-ON's Japan-based revenues consisting mostly of integration, customized solutions and licensing," stated Mr. James Oh, Chairman of I-ON.
About I-ON Communications Corp.
I-ON Communications Corp. is a Seoul, South Korea-based enterprise software company founded in 1999. After being awarded its first of six patents by 2003, the Company has since evolved into an industry-leading and recognized developer of enterprise-class unstructured data management and digital marketing software solutions. I-ON has sold to over 1,000 mid to large clients across numerous verticals in both the private and public sectors, primarily throughout South Korea, Japan and Southeast Asia. The Company has 11 products at market that enable clients to create, measure, and optimizes digital experiences for their audiences across marketing channels and devices. These encompass enterprise web content management (CMS), web experience and service delivery software, digital marketing, smart mobility and analytics tools and energy management systems. Especially, I-ON is pursuing to be 'Customer & Market Oriented' Energy solution provider with its representative Energy solutions and references such as Demand Response Management System(DRMS), HEMS (Home Energy Management System), Energy Trading System (ETS), Micro-Grid Management system and VPP (Virtual Power Plant) solution globally. I-ON has designed and developed standards compliant software, while holding many domestic and global industry awards and recognition from the likes of Gartner and Red Herring.
About TIS Inc.
TIS Inc., a member of the TIS INTEC Group, provides several IT solution services including entrusted development, data center and cloud services. At the same time, TIS is contributing to the growth of clients' businesses with more than 3,000 business partners in various industries, such as financial services, manufacturing, logistics/distribution, public services and telecommunications, by offering global support to companies with a presence mainly in China and the ASEAN region. For more information about TIS, please go to http://www.tis.co.jp/
About the TIS INTEC Group.
The TIS INTEC Group comprises 58 IT companies and 20,000 employees. Each company utilizes its field of expertise to provide IT services that support clients' businesses across many industries, including finance, manufacturing, services and public services, both inside Japan and overseas.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
Sang Min Lee / Byung Woo Yu
Lisa Gray, Investor Relations
Scott Powell, Investor Relations
Skyline Asia Investor Relations, LLC
SOURCE I-ON Communications Corp.