Monday, August 15, 2011

Ascent Solar In $275M Strategic Partnership

Thornton, Colorado-based Ascent Solar Technologies and partner TFG Radiant Group said this morning that the two are in a $275M, long term strategic partnership. According to the two, they are in a joint development agreement to establish manufacturing facilities in East Asia. TFG Radiant will invest $165M in the new fab, in addition to the $275M in investment; the firms said the total daal will be worth about $450M plus royalties. TFG Radiant takes a seat on Ascent's board as part of the partnership and investment. TFG Radiant is based in China.