Chinese equipment maker, Boamax Technologies Group, has announced a joint venture with researchers from Xidian University and another investor to develop and sell perovskite solar cells. The venture will also make production equipment and raw materials.
Boamax will have a 37% stake in the JV. A partnership formed by the Xidian scholars will contribute its patent technologies to hold 45.5% of the equity. The third investor party will have an 18.2% stake.
After the JV reaches certain milestones, Boamax and the third-party investor will gradually increase their stakes in the venture by adding capital. Boamax’s holdings will eventually rise to 40%, while the combined stake held by the scholars and their assistants will dilute to 40%. The third entity will have 20% of the equity.
These milestones include making qualified products in two years, successfully reaching pilot production in three years, as well as realizing commercially stable mass production in four and a half years. The requirements include product size and efficiency targets.