Reliance New Energy Limited to invest in Caelux Corporation
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Friday, September 23, 2022
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MUMBAI, India, Sept. 23, 2022 /PRNewswire/ -- Reliance New Energy Limited ("RNEL"), a wholly owned subsidiary of Reliance Industries Ltd ("Reliance"), has today signed definitive agreements to invest in Caelux Corporation ("Caelux"), a company headquartered in Pasadena, California, in the United States of America, engaged in the development of perovskite-based solar technology. RNEL will invest USD 12 million to acquire 20% stake in Caelux.
Key Points:
- MUMBAI, India, Sept. 23, 2022 /PRNewswire/ -- Reliance New Energy Limited ("RNEL"), a wholly owned subsidiary of Reliance Industries Ltd ("Reliance"), has today signed definitive agreements to invest in Caelux Corporation ("Caelux"), a company headquartered in Pasadena, California, in the United States of America, engaged in the development of perovskite-based solar technology.
- RNEL will invest USD 12 million to acquire 20% stake in Caelux.
- RNEL and Caelux have also entered into a strategic partnership agreement for technical collaboration and commercialization of Caelux's technology.
- Through this investment and collaboration, Reliance will be able to produce more powerful and lower cost solar modules leveraging Caelux's products.