Rusnano Group Signs Agreement with Midsummer of Sweden on Development of Flexible Photovoltaics Market

The Fund for Infrastructure and Educational Programs of the RUSNANO Group and Midsummer, Sweden, have signed a Framework Agreement to develop the market of non-silicon flexible solar cells in Russia and the Eurasian Economic Union (EEU). The document was signed by Sven Lindström, CEO of Midsummer, and Ruslan Titov, Deputy CEO of FIEP Rusnano.

Rusnano Group Signs Agreement with Midsummer of Sweden on Development of Flexible Photovoltaics MarketMidsummer is the Swedish solar energy technology leader, one of the world’s leading developers and suppliers of advanced thing-film building integrated solar solutions. Under the Agreement, RUSNANO Group is to use Midsummer’s advanced technology to manufacture lightweight flexible photovoltaics (PV), Copper Indium Gallium Di-Selenide solar cells (CIGS PV cells) and finished products for Russia and other EEU countries (Armenia, Belarus, Kazakhstan and Kyrgyzstan). In its turn, Midsummer is to become one of the world-wide distributors of flexible solar panels manufactured in Russia and EEU.

‘We are pleased to enter into this agreement with such a respectable and visionary company as RUSNANO,’ Sven Lindström, CEO of Midsummer,says . “It may open up a whole new market for our technology and manufacturing equipment for lightweight, flexible, robust and energy efficient thin-film solar cells. Our DUO system is the most widespread manufacturing tool for thin-film flexible CIGS solar cells. We are particularly impressed with RUSNANO’s focus on the possibilities of using flexible solar panels in the construction of new buildings and infrastructure facilities and maintenance of those that are already in place, and we share this vision.’

‘One of the fastest-growing markets in the energy industry is that for integratable flexible solar panels that can be installed on both buildings still under construction and those already in use. Thanks to technological breakthroughs in photovoltaics made by a number of research groups and companies in Europe and the USA in recent years, it is now possible to put solar panels in previously impossible places – unused roofs, facades, and windows. We have been systematically developing non-silicon flexible photovoltaics in Russia in the only feasible way — we first transfer the technology and localize production, then upgrade the technology and scale up the production to keep up with the growing market, which includes export that we are going to start as soon as we have launched the first production line,’ Ruslan Titov, Deputy CEO of FIEP RUSNANO Group, notes.

The process of flexible solar cell production using Midsummer’s technology makes for minimal carbon footprint in comparison to other technologies used in solar panel production, which has been confirmed by life-cycle analyses carried out by independent experts.

Midsummer is the leading developer and supplier of advanced solar energy solutions for production and installation of flexible thin-film solar panels. The company makes manufacturing equipment for solar cell production, as well as building integrated photovoltaic (BIPV) solutions.

Midsummer’s patented technology is based on the process of fast produced flexible thin-film solar cells covered in CIGS layers.

The company’s shares (MIDS) are traded on Nasdaq First North Stockholm.

Web:  https://midsummer.se/

The Fund for Infrastructure and Educational Programs was established in 2010 in accordance with Federal Law No. 2110-FZ ‘On Reorganization of the Russian Corporation of Nanotechnologies’. The purpose of the Fund is to develop innovative infrastructure in the sphere of nanotechnologies, including the implementation of educational and infrastructural programs that have already been commenced by RUSNANO.

The top collective authority of the Fund is its Supervisory Board. According to the Fund’s articles of association, the Board is competent to look at the matters of setting the priorities for the Fund’s main activities, strategies and budget. The Chairman of the Management Board of the Fund, which is a collective management authority, is the Chairman of the Board of RUSNANO Managing Company LLC Anatoly Chubais, Director General of the Fund is Andrey Svinarenko.

To find out more about the Fund visit www.fiop.site.

Source: Fund for Infrastructure and Educational Programs.
September 11, 2019