Key Government Policy Announcements for India’s Renewable Sector in September 2018

Quantum Materials Corp (QMC), a nanomaterial and quantum dot manufacturer, has signed an agreement with Amtronics CC for the development, manufacture, and commercialization of thin-film quantum dot solar cells (QDSC) and solid-state LED lighting (SSL) in the state of Assam.

Assam Electronics Development Corporation Ltd (AMTRON), a state-owned public sector undertaking of the government, will provide the necessary bank guarantees for the project.

Under the agreement, QMC will receive license fee of $1 million, technology development funding, scheduled milestone payments and royalties on all quantum dots and solar cells produced. In return, it will provide the production and support equipment required for the project.

The nanotech-focused production facility will be established within the electronics manufacturing cluster in the Guwahati Tech City and spread over 12,000 square feet.

“We are extremely pleased to partner with Amtronics CC and Amtron as they establish the necessary infrastructure to support large scale thin-film, quantum dot based solar cell production in Assam India using QMC patented technologies.  India’s recent implementation of tariffs applied to imported solar photovoltaics creates an ideal opportunity to establish QMC’s next generation thin-film photovoltaics for broad adoption in the region”, said Stephen B. Squires, President and CEO of Quantum Materials Corp.

George Anthony Balchin, Managing Director of Amtronics CC said, “We are pleased to be involved and provide the initial $20 million 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. The initial capital infusion will be used to build out the facility, purchase all the production and process equipment, including the micro reactors, train the staff and provide the initial working capital.”

K. Yadava IFS, Managing Director of AMTRON stated “We are very pleased that QMC and AMTRON have joined together in this timely venture to create a state-of-the-art quantum dot manufacturing facility within the newly established Guwahati Tech City. AMTRON is a state-owned public sector undertaking of the government and is providing the necessary bank guarantees to move this project to completion.”

Qamronics India PVT is the joint venture formed by Amtronics CC and AMTRON for the production of quantum dots and solar cells, with operations based in Assam.

Recently, the Assam Energy Development Agency (AEDA) invited proposals from independent institutions and organizations to set up a research and development (R&D) facility in the state. The facility will be in the field of renewable energy and will be supported by the Science and Technology Department of the Government of Assam.