Ascent, Hydro Solidify Solar Business Relationship

Posted by SI Staff on December 20, 2007 No Comments
Categories : FYI

Ascent Solar Technologies Inc., a developer of thin-film photovoltaic modules, has signed a definitive cooperation agreement with its strategic partner Hydro. This agreement fortifies the relationship between Hydro and Ascent Solar and focuses on new products, commercial manufacturing and European market presence.

In anticipation of commencement of Ascent's 1.5 MW pilot scale production in 2008, the parties have agreed to collaborate in the development of building integrated photovoltaic products. The recently announced Brise Soleil product by Hydro Building Systems is expected to be the first of many applications to be covered by this cooperation agreement.

Ascent says it intends to supply Hydro with product during the pilot phase in order for Hydro to develop and satisfy market demand for its products. Hydro also will have an option to purchase quantities of Ascent's annual production when Ascent achieves production capacity of 25 MW.

Also, Hydro has agreed to assist Ascent by providing manufacturing and engineering expertise, as well as project management assistance. Hydro additionally intends to assist Ascent in citing a potential second commercial production facility in Europe, as well as helping Ascent establish strategic alliances with players in the European solar industry.

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