US firm Quantum Materials Corp (OTCMKTS:QTMM), or QMC, said Monday an Indian joint venture will use its technology to produce quantum dot semiconductors and thin-film quantum dot solar cells (QDSC) in the state of Assam.
A License and Development Agreement (LDA) has been signed with Amtronics CC, giving the latter the right to manufacture quantum dots and quantum dot solar cells for commercial supply in India, and to use the QDX trademark and technical data. In exchange, Quantum Materials will get an upfront license fee of USD 1 million (EUR 876,000), technology development funding, scheduled milestone payments and royalties.
Amtronics CC has formed a joint venture -- Qamronics India PVT -- with state-owned public sector undertaking Assam Electronics Development Corp (AMTRON) to manufacture semiconductors and solar cells using QMC intellectual property (IP). A 12,000-sq-ft nanotech-focused facility is being built at the Electronics Manufacturing Cluster in the Guwahati Tech City.
AMTRON is providing bank guarantees to support the realisation of the project, while Amtronics CC is bringing USD 20 million in initial funding for the facility’s construction, equipment purchases, employee training and working capital.
The LDA covers the development, manufacture and commercialisation of solar cells, solid-state LED lighting (SSL) and ultra-high definition display panels (UHDTV).
“India's recent implementation of tariffs applied to imported solar photovoltaic's creates an ideal opportunity to establish QMC's next generation thin-film photovoltaic's for broad adoption in the region,” said Stephen Squires, head of Quantum Materials.
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