Business Standard carried the news that Tata group is investing millions of dollars in Sun Catalytix — an energy storage and renewable fuels company — founded by a Massachusetts Institute of Technology (MIT) professor, Daniel Nocera. The aim is to introduce a low-cost solar contraption to power homes for the poor, primarily in developing countries like India.
The research was carried out by MIT Prof Daniel Nocera and initial research was funded by National Institutes of Health and National Science Foundation. Sun Catalytix, founded by Daniel Nocera, received a $700,000 seed investment led by Polaris Ventures.Development continued to replace costly catalyst and the Indian firm with vision - Tata invested in the start-up. Many Chinese firms made such strategic investments but this is the first by an Indian firm.
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