Moser Baer unit buys stake in Stion Corp

Moser Baer Photo Voltaic (MBPV), a wholly-owned subsidiary of Moser Baer India, has acquired a significant minority stake in Stion Corporation, a California-based, nano-structures technology company.

Stion Corporation, formerly known as NStructures, is a pioneer in the cutting-edge Nanostructure-based PV technologies.

The investment follows the strategic equity participation in two solar concentrator technology companies, Solaria and Solfocus, announced a couple of weeks back.

"This is yet another landmark in our quest to partner actively in the development of next generation technologies in the PV space," Ratul Puri, executive director of Moser Baer, said.

The investment in Stion is also part of the company's earlier announcement of $17 million infusion in MBPV for investing in emerging solar cell technologies.

The global photovoltaic market is on a high growth curve with sales expected to grow over six times to $40 billion by 2010.