Ascent Solar, ITOCHU Corp. Outline Strategic Relationships

Posted by SI Staff on February 28, 2008 No Comments
Categories : FYI

Ascent Solar Technologies Inc., based in Littleton, Colo., and ITOCHU Corp., a Japan-based trading company plan to begin work toward the development of strategic cooperation relationships.

According to the companies, these relationships may be in the following areas: procurement of select machinery for Ascent Solar's planned 100 MW manufacturing facility; sourcing of raw materials used for the manufacture of solar modules, distribution of Ascent Solar future products in Japan and other parts of the world where ITOCHU is currently pursuing a number of solar installations; and managing future OEM relationships in Japan, including the development of potential strategic partners engaged in the development of building integrated photovoltaic and electronic integrated photovoltaic products using Ascent Solar's future flexible CIGS solar modules.

‘This is an important development for Ascent Solar,’ says Matthew Foster, president and CEO of Ascent Solar. ‘The strategic relationships we envision with ITOCHU are designed to provide Ascent Solar a greater marketing presence and potential access to new opportunities in the Asian markets.’

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