“President Medvedev and I agreed to expand trade and commerce even further,” said President Obama after a bilateral meeting with Russian President Dimitry Medvedev in Washington on June 24. “We agreed to deepen our collaboration on energy efficiency and clean energy technologies.”
Of particular significance will be the development of a pilot project to cut electric power losses and reduce levels of carbon emissions. The project will utilize innovative smart grid technologies to achieve these goals. Russian and U.S. cities will run projects in parallel and share the best practices and technical information.
Smart grid technologies use advanced developments in information technology to enhance the reliability, efficiency and security of electric power distribution.
President Medvedev said that Skolkovo, a Moscow region town, is emerging as a Russian Silicon Valley, a center for innovative developments in energy and telecommunications, biotechnology and nuclear technology. The president had visited Silicon Valley in California earlier in the week and was deeply impressed with what he saw there.
He was equally impressed by the interest displayed by leading U.S. businessmen to work together with Russia. Intel and Cisco are already involved at development in Skolkovo. The town also has an advanced business management school that opened in 2006.
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