tubesolar AG
TubeSolar AG: Planned acquisition of stake in US company Ascent Solar Technologies, Inc. secures long-term access to solar thin film technology
TubeSolar AG / Key word(s): Investment/Strategic Company Decision
TubeSolar AG: Planned acquisition of stake in US company Ascent Solar Technologies, Inc. secures long-term access to solar thin film technology
Augsburg, January 4, 2021: TubeSolar AG (ISIN DE000A2PXQD4, XETRA, primary market Düsseldorf, m:access) plans to acquire a strategic stake in Ascent Solar Technologies, Inc. (OTC market “AscentSolar”, ticker symbol: ASTI). For the intended investment of 2.5 million US dollars TubeSolar AG will receive AscentSolar shares at a price of 0.0001 US dollars per share. Taking into account outstanding capital adjustments, TubeSolar AG would in the future hold approximately 15 percent of the share capital of Ascent Solar Technologies, Inc.. Through this planned step, TubeSolar AG is implementing its “second-source strategy” and tapping into another source of supply in addition to its existing European supplier for flexible copper indium gallium diselenide (CIGS) photovoltaic cells. The investment is to be financed from existing liquid funds. TubeSolar AG assumes that the contract will be signed in the short term. 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. Ascent Solar is headquartered in Thornton, Colorado, USA. Service
04-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | TubeSolar AG |
Berliner Allee 65 | |
86153 Augsburg | |
Germany | |
Phone: | +49 821 899 830 50 |
E-mail: | ir@tubesolar.de |
Internet: | www.tubesolar.de |
ISIN: | DE000A2PXQD4 |
WKN: | A2PXQD |
Listed: | Regulated Unofficial Market in Dusseldorf (Primärmarkt), Frankfurt, Munich (m:access) |
EQS News ID: | 1158240 |
End of Announcement | DGAP News Service |