THORNTON, Colo.—Shares of Ascent Solar Technologies Inc. are up after its announcement that an Asian company plans to boost its ownership stake in the thin-film solar panel manufacturer.
In August, Ascent said TFG Radiant Investment Group was buying 6.4 million of Ascent’s shares at $1.15 apiece for a roughly 20 percent stake in Ascent. On Wednesday, Thornton, Colo.-based Ascent said TFG Radiant plans to buy a stake in Ascent owned by Norsk Hydro Produksjon AS for $4 million, which would bring TFG Radiant’s ownership stake to around 41 percent.
The latest transaction values each share at around 50 cents.
Shares of Ascent were up 14 cents to close at 56 cents Wednesday.
TFG Radiant is the East Asia licensee of Ascent’s technology.
