Eight19 spins out Indigo pay-as-you-go solar
The UK based Eight19 Limited, a developer and manufacturer of third generation solar cells based on printed plastic today announced the launch of Azuri Technologies Limited to develop its Indigo ‘pay-as-you-go’ solar technology for off-grid markets. Eight19 will concentrate on development of its printed plastic solar technology and Azuri will focus on expanding the Indigo product family and market reach.
Due to the growth of Indigo, the Eight19 board has taken the decision to spin-out Indigo into Azuri in order to facilitate its rapid expansion. The entire Indigo activity has transferred to Azuri and Simon Bransfield-Garth will remain CEO of both companies. The new corporate structure is said to allow both companies to focus on their core strengths, forge more specific commercial relationships and to access new sources of finance to support their respective operations. The two companies will both remain in Cambridge, UK, and will continue a close working relationship.