Moser Baer PV buys stake in Stion Corp

NEW DELHI: Moser Baer Photo Voltaic Limited (MBPV), a wholly owned subsidiary of Moser Baer India Limited (MBI), today 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, a Moser Baer statement said.

The third investment is part of Moser Baer’s earlier announcement of $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.

Ravi Khanna, CEO, Moser Baer Photovoltaic Limited, said, “This is in line with our strategy to reduce the cost of solar power generation significantly by straddling multiple future technologies and emerge as an engineering and technology driven company. We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply.”

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