Stion acquisition aimed at driving technology development : Moser Baer CFO

16 November 2006

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.

CNBC-TV18's shares with domain-b an exclusive interview with Mathur:

Tell us a bit about this company you acquired and how much have you paid for it?
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 $17 million for investments, specifically into technology and this acquisition, of a significant minority stake in this company, is actually a part of that.