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Ascent Solar to raise $80 million for thin-film flexible solar module lines

17 March 2008 | Market Watch: News

Ascent SolarAscent Solar Technologies is raising approximately $80 million before deducting underwriting discounts and commissions etc. for the purchase of production tools for approximately 30MW of rated capacity for its previously announced (February, 2008) thin-film flexible solar plant in Thornton, Colorado.

The first 25MW production line is planned for completion by year-end 2009, and will be ramped to 100MW by 2011.

Bear, Stearns & Co., Inc. is serving as sole book-running manager for the offering. Cowen and Company, LLC., Jefferies & Company, Inc. and Merriman Curhan Ford & Co. are serving as co-managers for the offering. 

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