Tata Group makes additional investment in solar cell maker Flisom
The group has made an additional investment of $10.67 million in the Swiss company
Mumbai: Tata Industries Ltd has invested an additional 10 million Swiss francs ($10.67 million) in Flisom, a Swiss company developing solar power technologies.
The Tata Hroup had invested 42.5 million Swiss francs in Flisom in 2013 for a plant with an annual capacity of 15MW in Switzerland’s Niederhasli-Zurich.
Flipsom is working on technologies to make flexible thin film solar modules which convert sunlight to electricity. The latest investment is the company’s fourth round of fund-raising and comes from existing strategic investor Tata group, Flisom said in a statement on Thursday.
“We are very pleased with this further investment from the Tata group coming on the eve of the inauguration of Flisom’s 15 MW capacity pilot production plant, and we thank the Tata group and existing investors for their continued support”, said Ayodhya Nath Tiwari, chairman of Flisom.
K.R.S. Jamwal, executive director, Tata Industries Ltd said this investment marks Tata group’s interest in next-generation technology for the solar photovoltaic industry.
“With the investment received in 2013, Flisom refurbished an old manufacturing building of 4,500 sq.m ground area in Niederhasli, in the outskirts of Zurich, to install all the needed machines for solar module manufacturing on 1 meter wide rolls. At the same time, Flisom continued technology development on 50 cm wide rolls at its Dübendorf plant, located on the campus of Empa”, said Flisom’s chief operating officer, Sudheer Kumar.
Markets addressable by Flisom’s flexible solar module manufacturing technology include utility scale solar farms, building integrated photovoltaics (BIPV), building applied photovoltaics (BAPV), transportation and portable power, the statement said.
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Business NewsCompaniesTata Group makes additional investment in solar cell maker Flisom
First Published:11 Jun 2015, 09:39 PM IST
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