Norsk Hydro Boosts Stake In Ascent Solar Technologies

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

Norsk Hydro ASA, through its subsidiary Norsk Hydro Produksjon AS, has exercised an option to purchase an additional 2,341,897 shares of Ascent Solar Technologies Inc.'s common stock and 1,689,905 Class B warrants. Upon acquiring these additional securities, Hydro will hold approximately 35% of the total outstanding common shares and about 35% of the total outstanding Class B warrants of Ascent Solar.

‘Hydro is excited by Ascent Solar and its thin, flexible solar modules,’ says Jørgen C. Arentz Rosrup, executive vice president for energy at Hydro. ‘We believe that Ascent Solar's modules will help lay the foundation for the energy solutions of tomorrow, and we feel that Ascent Solar's products will be a very good fit with Hydro's continuing commitment to develop energy-efficient building systems.’

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