TubeSolar AG

  • WKN: A2PXQD
  • ISIN: DE000A2PXQD4
  • Land: Deutschland

Nachricht vom 05.01.2021 | 14:58

TubeSolar AG: Contract signed for investment in US company Ascent Solar Technologies, Inc.

TubeSolar AG / Key word(s): Investment/Strategic Company Decision
TubeSolar AG: Contract signed for investment in US company Ascent Solar Technologies, Inc.

05-Jan-2021 / 14:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


TubeSolar AG: Contract signed for investment in US company Ascent Solar Technologies, Inc.


Augsburg, Germany, January 5, 2021: TubeSolar AG (ISIN DE000A2PXQD4, XETRA, primary market Düsseldorf, m:access) today closed the announced agreement on the strategic investment in Ascent Solar Technologies, Inc. (OTC market "AscentSolar", ticker symbol: ASTI). In exchange for US-dollar 2.5 million in cash, TubeSolar AG will receive Ascent Solar shares at a price of US-dollar 0.0001 per share. Taking into account outstanding capital adjustments, TubeSolar AG will in future hold approximately 15 percent of the share capital of Ascent Solar Technologies, Inc. The financing will be provided from the proceeds of the capital increase completed in December 2020.

About TubeSolar AG (www.tubesolar.de)
TubeSolar AG has taken over the laboratory production of OSRAM/LEDVANCE in Augsburg as a spin-off and acquired the patents from LEDVANCE and Dr. Vesselinka Petrova-Koch. TubeSolar AG has been using this patent-protected technology since 2019 to develop and manufacture photovoltaic thin-film tubes that are assembled into modules and whose properties enable additional application opportunities in solar power generation compared to conventional solar modules. The technology will be used primarily in the agricultural sector, spanning agricultural production areas. In the next few years, it is planned to expand production in Augsburg to an annual production capacity of 250 MW.

About Ascent Solar Technologies, Inc. (www. ascentsolar.com)

Ascent Solar Technologies, Inc. is a developer of award-winning thin-film photovoltaic modules with substrate materials that are more flexible, versatile and robust than conventional solar modules. Ascent Solar's modules can be integrated directly into consumer products and off-grid applications, as well as aerospace and building-integrated applications. Founded in 2005, Ascent Solar is headquartered in Thornton, Colorado, USA.

Service
Website: www.tubesolar.de
Contact Investor Relations:
Maximilian Fischer, mailto: m.fischer@tubesolar.de
max. equity marketing GmbH, Marienplatz 2, 80331 Munich, Germany, Tel.: +49 89 13928890


05-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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