Moser Bear's subsi acquires stake in Stion Corp

New Delhi, Nov 16: Moser Baer India today announced that its wholly-owned subsidiary, Moser Baer Photo Voltaic Ltd (MBPV), has acquired a minority stake in California-based Stion Corporation, a nanostructures technology company.

This investment, third in a row, is also part of the company's earlier announcement of 17 million dollars into MBPV for investing into emerging solar cell technologies.

However, the investment size and stake were not disclosed.

The company had acquired stake in two other solar concentrator technology companies, Solaria and Solfocus, a couple of weeks back.

''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,'' the company said.

''This is yet another landmark in our quest to partner actively in the development of next generation technologies in the PV space,'' company Executive Director Ratul Puri said.

Stion Corporation, formerly known as NStructures, 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.

UNI