In order to acquire a 20% stake in Caelux Corporation, a business with headquarters in Pasadena, California, in the United States of America, Reliance New Energy Ltd, a wholly owned subsidiary of Reliance Industries Ltd, will invest USD 12 million. Caelux is a company working to develop perovskite-based solar technology. A formal agreement to this effect has been struck between the two businesses.
Caelux’s product and technology development will be accelerated by this investment, which also includes the building of a pilot line for the company’s technology in the United States. A strategic partnership agreement for technical cooperation and the commercialization of Caelux’s technology has also been reached between RNEL and Caelux.
Leading the way in perovskite-based solar technology research and development is Caelux.
