to-the-point: Magnolia Solar holds merger talks with US, Indian firms
US thin-film solar cell technologies developer Magnolia Solar Corporation (OTCQB:MGLT) is holding talks with privately-held solar installers at home and in India that are interested in merging with the firm.
A potential tie-up will provide a listing on a US exchange for these sector players, Magnolia Solar said in a press release on Tuesday, without disclosing the names of its potential merger partners.
The solar cells developer has so far filed 15 patents, of which five have been issued and the rest are at various stages of review by the US Patent and Trademark Office, it added. The company is now considering ways to use its intellectual property for commercial applications.