Ascent Solar Technologies Inc. says it has entered into a partnership with China-based TFG Radiant Group that includes investments by TFG Radiant in Ascent, as well as a joint development agreement to establish manufacturing facilities to be located in East Asia.
Under the agreement, TFG Radiant has committed $165 million for the initial East Asia fab, bringing the total deal value to about $450 million plus royalties. This fab is expected to have an initial annual production capacity of 100 MW.
TFG Radiant will cover consulting costs for Ascent personnel in helping to install and bring online the fab in China. Ascent will receive partial ownership of the China facility and royalties on all sales from that FAB.
Ascent has also agreed to exclusively license its technology for fabrication and distribution of copper indium gallium diselenide photovoltaic modules to TFG Radiant for East Asia, including China, Taiwan, Hong Kong, Malaysia, Indonesia, Thailand, Korea and Singapore. Ascent retains all rights for the U.S. and rest of the world.