RIL’s green arm to acquire stake in US-Based Solartech Company

Reliance New Energy Limited has signed a deal to invest $12 million for a 20 per cent share in the Caelux Corporation, a California-based company. This investment in the perovskite-based solar technology company will expedite product and technology development, as well as the construction of its pilot line in the US, in order to facilitate the commercialisation of its technology. In addition, both companies have entered into a strategic cooperation agreement for technical collaboration and commercialisation of Caelux’s technology.