DOE To Review Ascent Solar (ASTI) Application For New Thin Film Solar Factory

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06:05:28 pm on February 28, 2011

Ascent Solar (ASTI), has announced it has been notified by the DOE that the loan guarantee application for its 150MW thin film solar manufacturing plant has been selected for review.  The $375 million project would get a $275 million loan under the loan guarantee program.  The new plant would provide for production of Ascent’s flexible, thin film solar modules for building integrated applications.  Of course, the review is no guarantee that the DOE will approve the loan.

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“We are pleased that the Department of Energy has selected us for advancement of our loan guarantee application for our FAB3 manufacturing facility to the due diligence stage,” stated Dr. Farhad Moghadam, President and CEO of Ascent Solar. “FAB3 will bring together our unique approach to manufacturing flexible lightweight modules with the capacity to address the potentially large BIPV and BAPV markets worldwide.”

Shares of ASTI are up about 4% in after hours trading and remain in a bullish formation.  The stock has been basing and holding at support above the $3 level following a big breakout move last Sept and Oct.

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