Moser Baer India Ltd has informed that Moser Baer Photo Voltaic Ltd (MBPV), a wholly owned subsidiary of the Company, on November 15, 2006 announced that it has acquired a significant minority stake in Stion Corporation, a nanostructures technology Company based in California, formerly known as NStructures.
This investment follows the strategic equity participation in another two solar concentrator technology Company, Solaria and Solfocus, announced a couple of weeks back.
According to Ratul Puri, Executive Director, of the Company "This is yet another landmark in our quest to partner actively in the development of next generation technologies in the PV space."
The third investment is also part of the Company's earlier announcement of USD 17 million into MBPV for investing into emerging solar cell technologies. MBPV is moving towards the technological leadership in this high growth industry and developing a sustainable competitive edge by investing into disruptive technologies like Concentrator Photovoltaic (CPV), Nano technology, etc that is forcing the restructuring of the dominant solar technologies with a potential to compete with existing PV and conventional energy technologies.
Stion Corporation is a pioneer in the cutting edge Nanostructure based PV technologies. The nanostructure particles are custom tunable using several substrate materials to create multiple junction materials capable of absorbing nearly the entire solar light spectrum. This would result in very high efficiency solar cells at a low cost. The technology involves Leveraging and optimizing the existing advanced technology for nano-particles specifically for the generation of electricity from solar energy.
Ravi Khanna, CEO, Moser Baer Photovoltaic Ltd said, "This is in line with out strategy to reduce the cost of solar power generation significantly by straddling multiple future technologies and emerge as an engineering & technology driven Company. We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply."
The global photovoltaic market is on a high growth curve - sales expected to grow over 6x to USD 40 billion by 2010. This demand is also highly price elastic. A lowering of PV electricity costs to conventional Levels could exponentially expand this market as PV starts to penetrate into base load demand of electricity.