OSLO, NORWAY: Magnora ASA has elevated its possession in Evolar AB (Evolar) from 50 percent to 63.5 percent, as a results of strong progress in Evolar.
Based on Evolar’s Perovskite deposition technology, photo voltaic cell producers will be able to improve conventional photo voltaic cell effectivity by putting in a turn-key solution to their manufacturing lines. The technology applies a thin-film layer of perovskite to the photo voltaic panels which enables higher utilisation of the photo voltaic spectrum.
Technology and product development is led by Professor Lars Stolt and Dr. Olle Lundberg, who’ve decades of expertise from analysis and industrialisation of thin-film photo voltaic technologies. The Evolar team holds a number of world records inside copper indium gallium selenide (CIGS) based thin-film photo voltaic cells and utilise this competence to make sure speed, high quality and uniformity in Perovskite boosted conventional photo voltaic cells.
“Our colleagues at Evolar proceed to impress us with their relentless effort developing the photo voltaic cell efficiency, and we’re therefore happy to extend our shareholding and participate of their journey,” says Torstein Sanness, Executive Chairman of Magnora.
Magnora introduced its first funding in Evolar AB on sixteen November 2020, with a 28.44 percent stake. Evolar has reached all milestones from the unique enterprise plan, and Magnora has determined to name the final of three choices increasing its shareholding inside the corporate from 50 to 63.5 percent.
Magnora will use its existing money holding to fund the transaction. The strike price was set late inside the autumn 2020 and the share price is roughly equal for all choices and similar to the unique acquisition price final year.