Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, announced today that Radiant Holding Limited will begin distribution of the company's CIGS modules for building integrated (BIPV), automotive and portable power solutions in China.
The agreement with Radiant gives Ascent Solar access to multiple market segments in China’s emerging solar market including direct integration into Radiant’s line of building materials for residential and commercial solutions. Radiant plans to install Ascent modules on its metal roofing demonstration site immediately in order to demonstrate the flexible, lightweight characteristics of the modules.
“We are pleased to announce our agreement with Radiant. This relationship will give us access to a very large and rapidly growing market for BIPV applications in China. We also expect that other products in our lineup of flexible, lightweight CIGS modules will be marketed through this relationship," Ascent Solar President and CEO Farhad Moghadam said.
Ascent Solar is headquartered in Thornton, Colorado and operates a production line in Littleton, Colorado. The company is 35% owned by Norwegian-based aluminum company Norsk Hydro (NHY.OL), and they have several European distribution agreements, similar to the deal with Radiant Holding for China.
