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28 February 2008


Ascent Solar and Itochu to pursue strategic relationships

Ascent Solar Technologies Inc of Littleton, CO, USA, which develops copper indium gallium diselenide (CIGS) thin-film photovoltaic modules, and Itochu Corp of Japan have agreed to work toward developing one or more strategic cooperation relationships in the following areas:

  • procurement of select machinery for Ascent’s planned 100MW manufacturing facility;
  • sourcing of raw materials for the manufacture of solar modules;
  • distribution of future Ascent Solar 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.

“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,” says Ascent Solar’s president and CEO Matthew Foster. “We believe that we should also benefit from new relationships from across the worldwide Itochu business network,” he adds.

“We believe that Ascent Solar’s product is well-suited for the BIPV market and BIPV applications,” says Yutaka Kato, chief operating officer of Itochu’s Industrial Machinery and Solution Division, who highlights the contribution that the firm expects Ascent Solar’s product to make to its solar power business.

See related items:

Ascent to establish new world HQ and production facility

Ascent and Hydro sign cooperation agreement

Ascent installs 1.5MW CIGS PV production line

AFRL increases funding of Ascent’s tandem PVs

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