Moser Baer arm to pick up 20% in US startup
Moser Baer Photo Voltaic, the wholly owned subsidiary of Moser Baer India, is picking up about 20% stake in Stion Corp (formerly NStructures), a California-based nanotechnology start-up focusing on solar photovoltaics.
By Moumita Bakshi Chatterjee, TNN |
NEW DELHI: Moser Baer Photo Voltaic, the wholly owned subsidiary of Moser Baer India, is picking up about 20% stake in Stion Corp (formerly NStructures), a California-based nanotechnology start-up focusing on solar photovoltaics.
This is the third equity investment by MBPV after the company took equity positions in two solar concentrator technology firms: Solaria and SolFocus.
Moser Baer India’s spokesperson refused to comment on the issue. Also, the quantum of investments being made by MBPV in Stion Corp could not be ascertained. Stion Corp focuses on cutting-edge nanostructure-based PV Technologies. Khosla Ventures and Braemar Energy Ventures are other investors in the company.
MBPV, in which Moser Baer had announced an investment of $17m in August this year for picking stakes into emerging solar cell technologies, is currently taking position in technologies such as Concentrator Photovoltaic (CPV), and Nano amongst others. This strategy will enable it to develop a sustainable competitive edge and technological leadership in this industry.
The global photovoltaic market is on a high-growth trajectory with sales expected to grow to $30-40bn by ’10. Last month, MBPV picked up 10% stake in US-based SolFocus for Rs 35 crore.
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It also pumped in Rs 20 crore investment in Solaria, a Photovoltaic concentration technology company based in Fremont, US, as part of its overall strategy to invest in emerging solar technologies. MBPV is also setting up a PV cell and module manufacturing project with 80 MW capacities in Noida.Download
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