New Hydro investment in Ascent Solar

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New Hydro investment in Ascent Solar

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Hydro is a leading industrial company committed to a sustainable future. Our purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways.

The private placement is subject to, and is expected to be completed at the same time as, an underwritten public offering of Ascent Solar common stock, which is expected to close on October 6.

The capital injection into Ascent Solar, which makes flexible thin-film solar modules, is intended to enable the company to ramp up its 30-megawatt thin-film production facility in Thornton, Colorado, in 2010.

Hydro currently owns approximately 35 percent of Ascent Solar's common stock and will remain the largest shareholder immediately after the private placement.

Published: October 02, 2009

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