THORTON, Colo. (AP) -- Solar cell maker Ascent Solar Technologies Inc. on Monday said it agreed with engineering conglomerate Kirloskar Integrated Technologies Ltd. India to jointly sell solar modules and build an assembly plant in India.
The companies plan to tailor Ascent Solar's CIGS photovoltaic modules, or solar cells made from copper, indium, gallium and selenium, to target markets including defense, consumer portable power, off grid rural power solutions and hybrid solar and diesel generation back up power systems.
The plan includes establishing a backend module assembly plant in India and expanding production in India to include complete end to end module manufacturing.
Shares of Ascent Solar rose 80 cents, or 24.7 percent, to $4.06 in afternoon trading.
