The Korea Advanced Institute of Science and Technology is exporting its electric vehicle technology to the U.S.
The Massachusetts Port Authority (Massport), which operates Boston's Logan International Airport, decided to license the technology on Jan. 24, KAIST president Suh Nam-pyo said on Sunday.
The university's Online Electric Vehicles, or OLEVs, are charged by wireless power supply strips embedded in roadbeds as they travel above. The system was named one of the 50 Best Inventions of 2010 by Time magazine.
"Massport plans to purchase 60 OLEVs to replace all the buses at Logan Airport," Suh said.
The project is expected to be worth some W42 billion with each electric bus costing W600-700 million (US$1=W1,114). The vehicles will be assembled in the U.S. with KAIST receiving the technology license fees.
The university hopes the deal will lead to further exports to cities or airports in the U.S. and environmentally sensitive regions such as Europe. It is already in talks to supply the system to Park City in Utah.
The electric buses are currently being operated on a trial basis at Seoul Zoo in Gwacheon, Gyeonggi Province.