The Agreement provides Amtronics CC with the right to manufacture quantum dots and thin-film quantum dot solar cells for commercial supply in India, as well as the right to use the QDX trademark and technical data to support its marketing initiatives.
Under the terms of the Agreement, QMC receives an immediate upfront license fee of US$1 million in addition to technology development funding, scheduled milestone payments and royalties on all quantum dots/solar cells produced. The 12,000-square-foot nanotech-focused facility is being established as the anchor project within the recently announced Electronics Manufacturing Cluster in the Guwahati Tech City.
“India has announced an ambitious target of achieving 175 gigawatts of renewable energy installed capacity by 2022 and this challenge represents a tremendous opportunity for the deployment of our advanced nano-materials and thin-film quantum dot solar technologies which have the potential to be produced much more cheaply in terms of initial capex and opex than traditional silicon-based solar cells,” said Stephen B. Squires, president and CEO of Quantum Materials Corp. “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."
“We are pleased to be involved and provide the initial US $20,000,000 in funding for this enterprise and are anxious to see these extraordinary technologies deployed in a region that will benefit from both the end product as well as the significant potential for job creation,” said Dr. George Anthony Balchin, managing director of Amtronics CC. “The initial capital infusion will be used to build out the facility, purchase all the production and process equipment, including the microreactors, train the staff and provide the initial working capital. It is very rare and rewarding to be involved with a project that is the culmination of a group of like-minded individuals striving for a common goal that has so much potential to enhance the lives of so many.”