Reliance New Energy Limited, a subsidiary of Reliance Industries Ltd, a private sector company, has made an investment in Caelux Corporation, a company focused on the development of perovskite-based solar technology.

The investment aims to accelerate product and technology development for Caelux, including the construction of its pilot line in the U.S. RNEL and Caelux have also entered into a strategic partnership agreement for technical collaboration and commercialization of Caelux’s technology.

“The investment in Caelux aligns with our strategy to create the most advanced green energy manufacturing ecosystem, backed by world class talent, and built on the pillars of technological innovation achieved through strategic partnerships,” says Mukesh Ambani, chairman and managing director at Reliance Industries. “We believe Caelux’s proprietary perovskite-based solar technology provides us with access to next leg of innovation in crystalline solar modules. We will work along with team at Caelux to accelerate its product development and commercialization of its technology.”