Armor Group, a renowned conglomerate, has made a landmark entry into the solar panel industry by acquiring a 20% stake in the French solar panel maker, HoloSolis. The acquisition is a significant move, marking the company’s foray into perovskite-silicon tandem panel production. This venture came about only a week after the Armor Group ceased operation in the organic solar module production sector.

HoloSolis is well-regarded for its innovative work in developing the next generation of solar panels, particularly in the area of perovskite-silicon tandem cells.

According to Hubert de Boisredon, the CEO and Chairman of Armor Group, this strategic acquisition aligns with the company’s long-term sustainability objectives. HoloSolis’ project not only creates local jobs that cannot be outsourced, it also contributes to restoring energy sovereignty – both principles underpinning Armor Group’s corporate philosophy for years.

HoloSolis Plans for Expansion Gets a Boost

This partnership comes at a fortunate time as HoloSolis gears up to set up a projected manufacturing unit, with backing from Fraunhofer Institute for Solar Energy Systems (ISE) of Germany.

HoloSolis is a persuasive force in the solar panel industry, founded by three robust European entities: EIT Innoenergy – a clean-tech investor financed by the EU and based in Eindhoven, the Netherlands; IDEC Group – a French real estate developer; and TSE, a prominent solar energy producer in France and a leader in agrivoltaics.

Armor Group’s decision to invest in HoloSolis signifies a promising synergy that brings together the financial capabilities, technological innovation, and sustainability objectives of both companies. This strategic partnership is anticipated to make groundbreaking contributions in the area of solar energy.

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