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Moser Baer Buys Stakes In Stion Corporation
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Stion Corporation is a pioneer in the cutting-edge nanostructure-based PV technologies.
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Friday, November 17, 2006:
Moser Baer Photo Voltaic Ltd (MBPV), a wholly-owned subsidiary of Moser Baer India Ltd (MBI), has acquired a significant minority stake in Stion Corporation, a nanostructures technology company, 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.
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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 and technology driven company. We are decisively responding to the rapidly expanding solar PV market, where worldwide demand far outstrips supply.”
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), nanotechnology, etc that is forcing the restructuring of the dominant solar technologies with a potential to compete with existing PV and conventional energy technologies.
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