Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of thin-film photovoltaic modules, has purchased a large-scale manufacturing facility in Colorado expected to house the company’s new world headquarters and planned commercial manufacturing operations.
Located in Thornton, Colorado just north of downtown Denver, the plant encompasses approximately 120,000 square feet of office and manufacturing space.
In addition to housing the company’s headquarters, the facility will provide manufacturing space for the first of several 25 megawatts (MW) solar module production lines as the company embarks on a plan to expand its worldwide production capacity to 100MW by 2011. The first 25MW production line is planned for completion by year-end 2009, according to a release.
With the support of the Colorado Governor’s offices for Economic Development and Energy, Ascent Solar says it was able to secure the financing necessary to purchase the facility at competitive terms, and intends to immediately commence the modifications necessary.
Ascent Solar’s President and CEO Matthew Foster stated "Ascent Solar is pleased to locate our new world headquarters in the State of Colorado. The commitment by Governor Ritter to renewable energy initiatives in the state and the actionable support from the governmental offices to make this opportunity a reality has demonstrated to us that Colorado is committed to becoming a world leader in the manufacture and deployment of renewable energy alternatives. We look forward to growing our presence in Colorado and to delivering sustainable energy alternatives with our products."
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado.
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