Power Roll signs agreement with Thermax Global to develop the market for solar film in India
Power Roll, a developer of low-cost, and lightweight flexible solar film has announced an agreement with Thermax Group, a leading energy and environment solutions provider, to develop the market for solar film in India.
The agreement will see the companies collaborate to assess the market potential for scale manufacturing and deployment of Power Roll’s solar film in India. The joint activity will include identifying applications for lightweight solar film and green energy solutions for the region. Over the agreement period the parties will share knowledge on the low-cost production processes, efficiency and identify compelling use cases for solar film in India. A successful conclusion to the agreement will see Thermax license Power Roll’s technology for commercial manufacture and sale of solar film in India.
Power Roll expects its lightweight solar film and “disruptive price point” to expand the range of applications for solar energy. The company views India as one of the most strategic markets for its technology and has, therefore, set up a business operation in the country to support regional growth.
“We are especially excited about the potential for our solar film in India and delighted to be working with Thermax,” said Power Roll CEO Neil Spann. “Thermax has the right mix of renewable energy and manufacturing expertise, as well as the size and scale, to be a successful manufacturing partner in India. Our technology licensing model is perfectly aligned with the country’s ‘Make in India’ self-reliant strategy and world leading ambition to deploy 280 gigawatts of solar energy by 2030. This agreement with Thermax, which follows our recent partnership with one of Japan’s leading energy companies, opens up another significant new market for solar film.”
Thermax MD and CEO Ashish Bhandari added: “We are happy to partner with Power Roll, a technology company introducing innovative green solutions. We look forward to this partnership as a lever to increase the adoption of solar technology for a variety of applications in line with India’s ambitious renewable energy targets.”
Power Roll believes its solar film is on track to deliver the “lowest levelised cost of electricity for any solar technology”, explaining that the film is 25 times lighter than silicon PV and has a carbon footprint that is 20 times lower. According to Power Roll its technology simplifies manufacturing by using high-speed roll-to-roll production processes, which eliminates many costly process steps typical of other solar photovoltaic technologies.