TubeSolar AG

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

Nachricht vom 04.01.2021 | 13:08

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

04-Jan-2021 / 13:08 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: 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 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. 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


04-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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