Moser Baer makes strategic acquisition

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Moser Baer makes strategic acquisition

Moser Baer's subsidiary Moser Baer Photo Voltaic has picked up minority stake in California based Stion Corporation. Group CFO at Moser Baer India, Yogesh Mathur says, Stion Corporation is a technology company in the Silicon Valley, which is active in nanotechnology, reports CNBC-TV18.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS IBEF Research: Moser Baer India Limited Moser Baer unit invests in US-based SolFocus Moser Baer soars nearly 7% Moser Baer has target of Rs 209-210 ALSO READ See latest News about Moser Baer See previous management interviews See what other Experts & Brokerages are saying about Moser Baer Moser Baer BSE | NSE 25/05/12 Are Mutual Funds betting on Moser Baer?

Moser Baer's subsidiary Moser Baer Photo Voltaic has picked up minority stake in California based Stion Corporation. Group CFO at Moser Baer India , Yogesh Mathur says, Stion Corporation is actually a technology company in the Silicon Valley, which is basically active in nanotechnology, reports CNBC-TV18.

Excerpts from CNBC-TV18's exclusive interview with Yogesh Mathur:

Q: Tell us a bit about this company you acquired and how much have you paid for it?

A: The company, Stion Corporation, is actually a technology company in the Silicon Valley, which is basically active in nanotechnology. Nanotechnology is something, which has a lot of potential in certain specific areas including the fact that you can make materials using custom tunable nanoparticles, which can absorb a very wide spectrum of light energy and can result in high efficiency solar cell applications.

We see this technology bearing fruit some years down the line and therefore we believe that we should be an early investor to help drive that technological development in future.

On the subject of amounts, sometime back we approved a budget of USD 17 million for investments, specifically into technology and this acquisition, of a significant minority stake in this company, is actually a part of that.

Q: How much would that significant minority stake amount to in percentage?

A: It's roughly in the early 20%. The percentage part isn't that significant for us - what is important for us is essentially that we would like to be an active partner in developing nanotecnology and realising its full potential in the solar energy space. 

Q: How much of revenue do you see coming in on account of this subsidiary because of the kind of investment that you have made in Solaria and SolFocus as well as the new amount that you picked up?

A: Solaria and SolFocus are two concentrator technologies, which are much nearer term. So we see significant revenues coming in starting next fiscal from both of them towards the late part of the next fiscal.

On the other hand, nanotechnology is still at a developmental stage and in terms of revenues it should see itself getting commercialised more like three-four years down the road. But it has the kind of potential in terms of what it would do to the industry because it has a potential to actually provide comparative cost of power in the future.

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