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.
"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," said Ashish Bhandari, MD & CEO, Thermax.
"We are especially excited about the potential for our solar film in India and delighted to be working with Thermax," said Neil Spann, CEO, Power Roll.
He said 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," Spann added.