Norsk Hydro boosts Ascent Solar holdings
Gargi Chakrabarty
Published October 8, 2008 at 12:05 a.m.
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Littleton-based Ascent Solar Technologies Inc., a developer of thin-film photovoltaic modules, on Tuesday said the Norwegian company Norsk Hydro ASA has exercised an option to purchase additional shares of Ascent.
Gross proceeds to Ascent will be roughly $15 million.
Upon acquiring these additional shares, Hydro will hold approximately 35 percent of the total outstanding common shares and approximately 35 percent of the total outstanding Class B warrants of the company.
Hydro has invested roughly $63 million in Ascent.
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