AMTRON and Quantum Corp. will be setting up the production facility with the help of initial funding of $20 million by Amtronics CC
Assam Electronics Development Corporation Ltd (AMTRON) has signed an agreement with Quantum Materials Corp (QMC), a nanomaterial and quantum dot manufacturer, to set up a thin film quantum dot solar cells manufacturing facility in Assam. The two entities will be working on the development, manufacture, and commercialisation of the solar cells at the electronics manufacturing cluster in the Guwahati Tech City.
Agreement
As per the agreement, AMTRON will provide the required financial support such as license fee of $1 million, technology development funding, scheduled milestone payments and royalties on all quantum dots and solar cells produced. QMC will aid the manufacturing unit with the required equipment support for production.
Expressing delight over the partnership, K Yadava IFS, Managing Director, AMTRON said that the state-run public sector undertaking (PSU) would provide the necessary bank guarantees for the project.
Ideal opportunity
Stephen B. Squires, President and CEO, QMC, views the proposal and partnership ideal as the government’s recent implementation of import tariffs favours the setup. He said that the revised rates would help in boosting QMC’s next generation thin-film photovoltaics’ adoption in the region.
George Anthony Balchin, Managing Director, Amtronics CC informed about the initial funding of $20 million to set up the facility, purchase the production and process equipment, train the staff and provide the initial working capital. Amtronics CC and AMTRON have started a joint venture called Qamronics India Pvt to produce quantum dots and solar cells in the state.
