India’s Tata group has invested in Flisom (Flexible and lightweight solar modules), a Switzerland-based company.
The amount of the investment was not disclosed; however, Flisom is currently setting up a 5-megawatts (MW) pilot plant in Duebendorf, Switzerland at an estimated cost of EUR 25 million.
A private Swiss investor who provided initial support and investment to scale-up the technology also added to this most recent investment total, according to a release.
Flisom specializes in flexible and lightweight thin-film CIGS photovoltaic solar modules. Through a phased approach, the company said it intends to scale up to over 100 MW of annual capacity.
Flisom currently has 10 employees and plans to increase its personnel with experienced manufacturing and technical specialists. Flisom also plans to raise additional funding in the near future in order to accelerate the production ramp-up.
Mr. Kishor Chaukar, Managing Director, Tata Industries said, “Flisom is an innovative start-up company, which is on its way to enter the international market. It is led by a team of highly motivated and talented individuals. Depending on the performance of the company and the growth of the sector we would be looking at furthering our association with them. We see value in this technology and the resultant product not only as manufacturers or sellers but also as users of it. It is a positive step to actively stimulate the market for renewable energy, especially solar."
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