Power Roll signs agreement with Thermax Global to develop the market for solar film in India

Sunderland, UK 16 April 2021 – Power Roll, a developer of unique, low-cost, and lightweight flexible solar film has announced an agreement with Thermax Group, a leading energy and environment solutions provider, to develop the market for solar film in India.

The agreement will see the companies collaborate to assess the market potential for scale manufacturing and deployment of Power Roll’s unique solar film in India. The joint activity will include identifying applications for lightweight solar film and green energy solutions for the region. Over the agreement period the parties will share knowledge on the low-cost production processes, efficiency and identify compelling use cases for solar film in India. A successful conclusion to the agreement will see Thermax license Power Roll’s technology for commercial manufacture and sale of solar film in India.

“We are especially excited about the potential for our solar film in India and delighted to be working with Thermax,” said Neil Spann, CEO, Power Roll. “Thermax has the right mix of renewable energy and manufacturing expertise, as well as the size and scale, to be a successful manufacturing partner in India. Our technology licensing model is perfectly aligned with the country’s ‘Make in India’ self-reliant strategy and world leading ambition to deploy 280 gigawatts of solar energy by 2030. This agreement with Thermax, which follows our recent partnership with one of Japan’s leading energy companies, opens up another significant new market for solar film.” 

“We are happy to partner with Power Roll, a technology company introducing innovative green solutions. We look forward to this partnership as a lever to increase the adoption of solar technology for a variety of applications in line with India’s ambitious renewable energy targets,” said Ashish Bhandari, MD & CEO, Thermax. 

Power Roll’s lightweight solar film and disruptive price point will expand the range of applications for solar energy. Power Roll views India as one of the most strategic markets for its technology and has therefore setup a business operation in India to support regional growth.

Power Roll’s solar film is on track to deliver the lowest levelized cost of electricity for any solar technology, is 25 times lighter than silicon PV and has a carbon footprint that is 20 times lower. Power Roll’s technology simplifies manufacturing by using high-speed roll-to-roll production processes, which eliminates many costly process steps typical of other solar photovoltaic technologies.

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About Power Roll

Power Roll, headquartered in Sunderland, UK, has developed a unique, flexible, lightweight solar film capable of producing ultra-low-cost green electricity that is up to 20 times cheaper to make than existing flexible PV. By applying different coatings to its versatile microgroove design, Power Roll can also use the film for energy storage and to manufacture capacitors.  Power Roll has an existing joint venture with Deki Electronics in India to manufacture an innovative range of capacitors with significant advantages over existing technologies.  Power Roll’s microgroove solar film is suitable for non-load-bearing rooftops, building integration, transport, portable applications, off-grid projects and IoT sensors.

@PowerRollPV

https://powerroll.solar

About Thermax Limited

Thermax Limited, a leading energy and environment solutions provider is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and South East Asia. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water resources.

For more information visit www.thermaxglobal.com