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[ASTI] Ascent Solar Technologies Norsk Hydro raises stake to 35%
- announced today that Norsk Hydro ASA, through its subsidiary Norsk Hydro Produksjon AS, has exercised an option to purchase an additional 2,341,897 shares of Ascent Solar common stock and 1, 689,905 Class B warrants. The option was granted to Hydro and approved by Ascent Solar's shareholders in June 2007. Gross proceeds to the company from the follow on investment will be approximately $28.4 million, and reflect per share and per warrant purchase prices equal to the average of the closing bids of each security, as reported by Nasdaq, for the five consecutive trading days preceding exercise. Ascent Solar expects the transaction to close by March 31, 2008. Upon acquiring these additional securities, Hydro will hold approximately 35% of the total outstanding common shares and approximately 35% of the total outstanding Class B warrants of Ascent
http://biz.yahoo.com/bw/080228/20080228005387.html?.v=1
Press Release Source: Ascent Solar Technologies, Inc.
Ascent Solar and ITOCHU Corporation to Pursue Strategic Relationship
Thursday February 28, 6:00 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--After meetings this week in Tokyo, Japan, Ascent Solar Technologies, Inc. (NASDAQ:ASTI), and ITOCHU Corporation of Japan announced today that the companies will begin work toward the development of one or more strategic cooperation relationships in the following areas:
Procurement of select machinery for Ascent Solar’s planned 100 MW manufacturing facility.
Sourcing of raw materials used for the manufacture of solar modules.
Distribution of Ascent Solar future products in Japan and other parts of the world where ITOCHU is currently pursuing a number of solar installations.
Managing future OEM relationships in Japan including the development of potential strategic partners engaged in the development of building integrated photovoltaic (BIPV) and electronic integrated photovoltaic (EIPV) products using Ascent Solar’s future flexible CIGS solar modules.
Ascent Solar President and CEO Matthew Foster stated “this is an important development for Ascent Solar. The strategic relationships we envision with ITOCHU are designed to provide Ascent Solar a greater marketing presence and potential access to new opportunities in the Asian markets. We believe that we should also benefit from new relationships from across the worldwide ITOCHU business network.”
Yutaka Kato, Chief Operating Officer of Industrial Machinery and Solution Division of ITOCHU Corporation stated “we believe that Ascent Solar's product is well-suited for the BIPV market and BIPV applications. We are excited about the contribution that we expect Ascent Solar's product will make to our solar power business.”
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.com.
About ITOCHU Corporation
ITOCHU Corporation is one of the largest trading companies in Japan. Founded in 1858, ITOCHU Corporation has grown to approximately $100 billion of global trading transactions every year. With over 150 offices in more than 80 countries ITOCHU Corporation operates over 600 domestic and overseas subsidiaries involved in a wide array of industries, including technology, telecommunications, energy, aerospace, electronic machinery, media, textiles, food products, finance, real estate, insurance and logistics services. To learn more go to http://www.itochu.co.jp/main/index_e.html.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
Ascent Solar Technologies, Inc.
Investor Relations Contact:
Brian Blackman, 832-515-0928
bblackman@ascentsolar.com
or
Media Contact:
Brand Fortified Public Relations
Kelly Brandner, 303-289-4303
kellybrandner@msn.com
--------------------------------------------------------------------------------
Source: Ascent Solar Technologies, Inc.
Tax Credit bill just passed the House.
http://biz.yahoo.com/ap/080227/energy_taxes.html
The House-passed bill would use that money to promote renewable energy industries -- such as wind, solar and cellulosic ethanol plants -- by extending tax credits that recently expired or are scheduled to end at year's end.
New Purchase: ASCENT SOLAR TECHNOLOGIES, INC. (ASTI)
George Soros initiated holdings in ASCENT SOLAR TECHNOLOGIES, INC.. His purchase prices were between $15.17 and $26.75, with an estimated average price of $18.8. The impact to his portfolio due to this purchase was 0.02%. His holdings were 16,285 shares as of 12/31/2007.
http://www.gurufocus.com/news.php?id=22220#ASTI
Ascent Solar Technologies, Inc., a development stage company, engages in the commercialization of certain photovoltaic (PV) technology developed by ITN Energy Systems, Inc. for extraterrestrial, terrestrial, and near-space applications. ASCENT SOLAR TECHNOLOGIES, INC. has a market cap of $187.41 million; its shares were traded at around $0 with P/S ratio of 259.93.
This group does indeed look toppy here. Yesterdays run was eom window dressing short squeeze.
The % SS of float has gone up even more.
Business Wire
Ascent Solar Raises over $20 Million from Warrant Conversion
LITTLETON, Colo.--(BUSINESS WIRE)--
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) (BSX:ASTI), a developer of state-of-the-art, thin-film photovoltaic modules, announced today that it has received over $20 million as a result of the conversion of Class A public warrants and that it has achieved significant pre-manufacturing milestones.
Ascent Solar President and CEO Matthew Foster stated, "The additional capital received as a result of the Class A public warrant conversion and our partnership with Norsk Hydro (NYSE:NHY) have enabled us to achieve significant milestones ahead of plan. We are currently conducting pre-manufacturing testing on our roll-to-roll rapid prototyping tools in order to baseline the PV manufacturing processes. This is in preparation for the commencement of manufacturing operations on the 1.5 megawatt (MW) pilot production plant scheduled for completion by year end. The additional capital received will support construction of the first of four 25 MW scale production lines, the first of which is planned for completion in 2009. Our pathway to the market with large volume production has been greatly enhanced and will be strengthened further once we complete qualification of our pilot production plant."
Dr. Prem Nath, Senior VP of Manufacturing, stated, "By processing approximately one hundred feet each week in our roll-to-roll rapid prototyping tools, we have systematically proven out the entire end-to-end manufacturing deposition process. We believe that we can achieve repeatable and controllable processes that yield excellent uniformity. We now intend to focus on deposition process optimization and the remaining module patterning and encapsulation areas as we prepare for the staged delivery of our pilot plant production tools beginning in September 2007."
Ascent Solar employs a Copper-Indium-Gallium-Selenium (CIGS) compound to produce thin-film photovoltaic modules on plastic substrates. The CIGS in combination with other thin metal layers are deposited sequentially on top of one another using roll-to-roll manufacturing tools to achieve the photovoltaic affect. The total thickness of the deposited layers is less than that of a single human hair.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic materials and modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Source: Ascent Solar Technologies, Inc.
http://biz.yahoo.com/bw/070629/20070629005028.html?.v=1
Ascent Solar Appoints Key Member to Board of Directors
Friday June 29, 6:00 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI - News; BSE:ASTI - News) today announced the appointment of Joel S. Porter to the Board of Directors. Mr. Porter is the President of Centennial Consulting Services, Inc., a firm that he created after retiring from Lockheed Martin in the spring of 2004 as Vice President for International Program Development and Systems Analysis.
During a career at Lockheed Martin spanning almost three decades he managed the development of new technologies, advanced programs, and business development for the Department of Defense, NASA and commercial programs and endeavors. Programs he managed included the Lockheed Martin Astronautics-Radarsat International commercial Radarsat imaging partnership from 1995-1998; the Lockheed Martin successful bid on the Consolidated Space Operations Contract (CSOC), a $3.4B program awarded by the NASA Johnson Space Flight Center to Lockheed Martin's Space Operations Company in Houston, Texas.
Mr. Porter graduated from the Georgia Institute of Technology with a Bachelor of Aerospace Engineering degree and, M.S. degree in Industrial Management. He has also served as Second Lieutenant in the United States Air Force from 1972-76.
Ascent Solar CEO and President Matthew Foster stated, "Ascent Solar is pleased to welcome Mr. Porter to our Board of Directors. He brings invaluable expertise in international business and I look forward to Mr. Porter's contributions as we continue to implement our growth strategies."
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic materials and modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
PR Financial Marketing LLC
Jim Blackman, 713-256-0369 (Investor Relations)
jimblackman@prfinancialmarketing.com
or
Brand Fortified Public Relations
Kelly Brandner, 303-289-4303 (Media)
kellybrandner@msn.com
--------------------------------------------------------------------------------
Source: Ascent Solar Technologies, Inc.
ASTI Present at C.E. Unterberg Emerging Growth Opportunities Conference
http://biz.yahoo.com/bw/070626/20070626005217.html?.v=1
Press Release Source: Ascent Solar Technologies, Inc.
Ascent Solar Technologies to Present at C.E. Unterberg Emerging Growth Opportunities Conference
Tuesday June 26, 6:00 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI - News; BSX:ASTI), a developer of state-of-the-art, thin-film photovoltaic modules, today announced that it has been invited to present and participate at the C.E. Unterberg Annual Emerging Growth Opportunities Conference. CEO Matthew Foster will discuss the company's business strategies and provide solar industry perspectives on flexible thin film markets during a 20 minute presentation scheduled on Tuesday, July 10, 2007 at 3:30 PM (EST). The conference will also include a schedule of one-on-one meetings. The conference will be held at the Mandarin Oriental Hotel, 80 Columbus Circle, New York, NY.
For additional information or to schedule a one-on-one meeting with Ascent Solar Technologies, Inc. at this conference, please contact Brian Blackman at 832-515-0928 or brian@prfmonline.com.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic materials and modules and is located in Littleton, Colorado. Please visit Ascent Solar's website for additional information at www.ascentsolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Ascent Solar's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Ascent Solar's filings with Securities and Exchange Commission.
Contact:
PR Financial Marketing LLC, Houston
Jim Blackman, 713-256-0369 (Investor Relations)
jimblackman@prfinancialmarketing.com
or
Brand Fortified Public Relations
Kelly Brandner, 303-289-4303 (Media)
kellybrandner@msn.com
--------------------------------------------------------------------------------
Source: Ascent Solar Technologies, Inc.
Press Release Source: Ascent Solar Technologies, Inc.
http://biz.yahoo.com/bw/070625/20070625005368.html?.v=1
Ascent Solar Reports Over 99% of Class A Public Warrants Exercised
Monday June 25, 6:00 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. today announced that its securities transfer agent, Computershare Trust Company, Inc., had reported to the company on June 22, 2007 that a total of 3,278,299 or 99.6% of the outstanding Class A public warrants had been presented for conversion into one share of the company's common stock over the course of the warrant exercise period. The company anticipates a total receipt of approximately $ 21.6 million in proceeds from those warrant holders who elected to exercise their Class A pubic warrants.
ADVERTISEMENT
On May 24, 2007 Ascent Solar announced its notice of redemption of all outstanding Class A public warrants. Each Class A public warrant was convertible into a single share of the company's common stock for a price of $6.60. Any outstanding Class A public warrants that were not exercised by June 22, 2007 will now be redeemed by the company for a price of $ 0.25 each.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
PR Financial Marketing LLC
Jim Blackman, 713-256-0369 (Investor Relations)
jimblackman@prfinancialmarketing.com
or
Media:
Brand Fortified Public Relations
Kelly Brandner, 303-289-4303
kellybrandner@msn.com
--------------------------------------------------------------------------------
Source: Ascent Solar Technologies, Inc.
Ascent Solar Shareholders Approve Increasing Norsk Hydro Equity Stake
LITTLETON, Colo.--(BUSINESS WIRE)--
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) (BSX:ASTI) announced today that its shareholders have overwhelmingly approved the options Ascent Solar granted to Norsk Hydro (NYSE:NHY) which will enable Hydro to increase its equity stake in Ascent Solar from its current 23% to up to 35%. The shareholders' vote also will enable Hydro to purchase a corresponding percentage of outstanding warrants.
The approval, obtained at the June 15, 2007 annual shareholders meeting, enables Hydro to immediately purchase up to 23% of Ascent Solar's outstanding Class A and Class B public warrants. Last month, Ascent Solar announced that it would redeem its outstanding Class A public warrants beginning June 25, 2007. All outstanding Class A public warrants that are not exercised before that date will be subject to redemption. If Hydro exercises its option on or after June 25, 2007, it will be entitled to purchase shares of common stock in lieu of the Class A warrants it would have obtained in the absence of the redemption. Beginning in December 2007, Hydro may increase its equity stake to up to 35% by exercising an option to purchase additional shares of common stock and Class B warrants.
With approximately 33,000 employees in nearly 40 countries, Hydro is one of the world's leading suppliers of energy, and its building systems and aluminum divisions are among the largest in the world.
"This vote by Ascent Solar's shareholders is motivating for us. We intend to develop a strong strategic partnership with Ascent Solar, and this vote of confidence by Ascent Solar's shareholders is a critical step in that process. We believe that Ascent Solar's unique thin film products have the potential to serve as a key component in Hydro's solar and building systems lines of businesses," says Einar Glomnes, head of Hydro's solar division.
Ascent Solar President and CEO Matthew Foster stated at the meeting, "I would like to personally thank all of our shareholders and in particular those who attended the annual meeting on Friday June 15, 2007." Mr. Foster also stated, "The Hydro Building Systems product brands are world-class and provide a perfect match for integrating our thin film PV. We are pleased to announce that Hydro and Ascent Solar have already initiated the joint development of a new building integrated PV (BIPV) product line, and we look forward to additional opportunities as our strategic relationship matures."
At the annual meeting, the shareholders also re-elected Richard Swanson, Stanley Gallery, and Dr. T.W. Fraser Russell to the Board of Directors, and approved proposed amendments to Ascent Solar's 2005 stock option plan.
About Hydro:
Headquartered in Oslo, Norway, Hydro is a leading offshore producer of oil and gas and is the third-largest integrated aluminum supplier in the world. Hydro Building Systems is second largest in the world and markets product under three main brand names DOMAL, TECHNAL, and WICONA. Please visit Hydro's website for additional information at www.hydro.com.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic materials and modules and is located in Littleton, Colorado. Please visit Ascent Solar's website for additional information at www.ascentsolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Ascent Solar's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Ascent Solar's filings with Securities and Exchange Commission.
Source: Ascent Solar Technologies, Inc.
No chance. Norsk Hydro (NHY) is in at $5.77.
http://biz.yahoo.com/e/070313/asti8-k.html
Norsk Hydro ADR-NHY acquires 1.6M shares of Ascent Solar Technologies
Norsk Hydro ASA (NHY) announced Tuesday it has acquired 1.6M shares of the common stock of Ascent Solar Technologies (ASTI) in a private placement as the precursor to a strategic relationship between the parties. The shares purchased represent approximately 23.0% of the total shares issued and outstanding after the sale. Hydro purchased the shares for $5.7725 per share, or $9,236,000 in the aggregate, representing a 25% premium on the average of the closing bid prices in the five trading days preceding the sale. Subject to shareholder approval, Norsk Hydro will be entitled to purchase up to an additional 12% of the outstanding shares of Ascent Solar's common stock (post-issuance) and a corresponding proportion of Class A and Class B Warrants. (MI)
Merriman Curhan & Ford - Ascent Solar Tech.-ASTI initiated with a Buy@MERI
Merriman believes the company could become a low-cost leader with a highly differentiated solar PV product. (FLY)
Can anyone confirm when the June meeting is? I beleive it is on 6/15?
Tell me what I am mising here.
Stock has a mkt cap of 53.10M per Yahoo as of today.
http://finance.yahoo.com/q?s=ASTI
Company has almost $17.5M in short term invetments and cash.
"As of March 31, 2007, our cash position was approximately $17.5 million on hand".
http://biz.yahoo.com/e/070501/asti10qsb.html
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001104659-07-034435&Type=HTML
(Not including the $17.4M they are getting when the class A options come in, which was at $6.60 a share). http://biz.yahoo.com/bw/070524/20070524005158.html?.v=1
So that is about a toal of $34.9M in cash.
Norsk Hydro (NHY) acquired 1.6M shares for $5.7725 per share, or $9,236,000 in aggregate for 22% of the company.
http://biz.yahoo.com/e/070313/asti8-k.html
The stock is currently trading slightly above cash value at $7/shr, only $1.23 share more then (NHY) paid for 22% of the company.
Not to mention that this company has a 53M mkt cap, cheapest in the solar space for a US companies?
This seems really absurb to me.
Comments?
Seems that the class A warrent holders were long these and short the commen. They are going to have to cover to raise money for the conversion. 10% of the small 5.10M float is currently short as of last May Nasdaq reporting. (NHY)is in at $5.77 and this company will now have a additional $17M in cash, changing the ratios. Mkt. cap is cheapest among the solar group for legitimate companies. Some more gov't or maybe aerospace contracts puts them in a great position. Stock is valuation mkt. cap wise seems on the low end here.
Can anyone tell me what the conversion details are if a Class A holder wants to purchase the commen for the conversion?
Thoughts?
Ok. I guess what I am refering to is a sound alert option for specific securities in my list. For instance if I want to record a .wav alert for when the dow makes a new intraday high etc. I would like to hear that, and have differen't .wav files for different securities, not global alerts for a window. I feel that this ability like Tradestation and QuoteTracker already have is crucial for real-time traders who also need a voice alert in addition to the visual. It can't be too difficult to incorpate this option for your users and will move your software to the next level.
Yes, please allow us to use our own .wav files for alerts.
Ex) If I want to record a .wav alert for new intraday high or low on a specific security/Index and assign it to your alert that would be fantastic. I like to hear alerts in fast moving markets then to see them, or both. This option would really improve the software for professionals. It does not seem to hard for you to integrate.
Thanks!!!