Reliance New Energy invests $12 mn to pick 20% stake in US-based solar tech firm Caelux

5 days ago 3

Reliance New Energy has signed definitive agreements to put successful Pasadena-based star tech steadfast Caelux Corporation. The institution volition put $12 cardinal to get a 20 per cent involvement successful Caelux, said RNEL successful a BSE filing. Caelux is engaged successful the improvement of perovskite-based star technology. Its proprietary exertion enables precocious ratio star modules to nutrient 20 per cent much vigor implicit the 25-year beingness of a star task astatine little costs. 

This concern volition assistance Caelux further its merchandise and exertion development, arsenic good arsenic the operation of its aviator enactment successful the US successful bid to expedite the commercialized improvement of its technology. 

The companies person besides entered into a strategical concern for method collaboration and commercialisation of Caelux’s technology. 

The transaction volition not necessitate immoderate regulatory support and is expected to beryllium completed by the extremity of September, RNEL said. 

This concern comes arsenic Reliance is mounting up a planetary integrated photovoltaic giga mill astatine Jamnagar, Gujarat. Through this collaboration, Reliance volition beryllium capable to nutrient much almighty yet little outgo star modules, it added. 

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “The concern successful Caelux aligns with our strategy to make the astir precocious greenish vigor manufacturing ecosystem, backed by satellite people talent, and built connected the pillars of technological innovation achieved done strategical partnerships. We judge Caelux’s proprietary perovskite based star exertion provides america with entree to adjacent limb of innovation successful crystalline star modules. We volition enactment on with squad astatine Caelux to accelerate its merchandise improvement and commercialization of its technology.”

CEO of Caelux Corporation Scott Graybeal said that the concern with Reliance volition accelerate their efforts to physique their manufacturing capabilities to nutrient products that marque crystalline star modules much businesslike and outgo effective. The institution was incorporated successful 2014. 

Vinod Khosla from Khosla Ventures said that Caelux’s ‘perovskite connected glass’ architecture is the innovation the star manufacture needs to importantly trim costs and accelerate renewables penetration. 

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