LG has today signed a Memorandum of Understanding (MOU) with Pecan Street Incorporated, a research and development organization headquartered in the University of Texas at Austin focused on reinventing the energy delivery system. The signing of this MOU means that LG will participate in a smart grid demonstration project in Austin, Texas.

Furthermore, the Korean electronics giant will join Pecan Street's Industry Advisory Council, contributing its expertise to the research of smart homes, energy management and consumer electronics until 2015. Specifically, LG will focus on the development of effective home energy management systems.

“In addition to our leadership in energy-efficient smart appliances, our involvement with Pecan Street demonstrates LG’s ongoing commitment to smart grid technology,” said Skott Ahn, chief technology officer of LG Electronics (News - Alert). “We are excited by the opportunity to further promote the burgeoning smart grid industry, both domestically and globally.”

Pecan Street has been conducting what it describes as "one of the world’s most unique and advanced consumer energy research trials" in the city of Austin. These trials will consist of more than 450 volunteer homeowners testing energy and consumer electronic products and services while their energy is analyzed. Since this research began, more than 60 residents have acquired electrics vehicles, while more than 200 homes have installed rooftop solar arrays.

LG's part in the demonstration is the installation of its advanced air conditioners, smart refrigerators, smart washing machines, LED lighting and Home Energy Management Systems (HEMS) in participating homes. The company's smart grid-ready products will also be on display at the Pike Powers Lab, the nation's first not-for-profit smart grid research lab.

Other companies working with Pecan Street include Dell (News - Alert), Intel, Sony, Oncor, OnStar and SunEdison.

LG has been doing quite well lately, having recently received a favorable decision in a video compression patent infringement case tried in the U.S. District Court for the Southern District of California. The company did not to infringe on patents owned by the Multimedia Patent Trust.

Furthermore, the company's smartphone business has been picking up with the massive success of Google's (News - Alert) latest Nexus smartphone, the Nexus 4, manufactured by LG.

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