LITTLETON, Colo. (AP) -- Solar cell maker Ascent Solar Technologies Inc. said Tuesday that it is set to begin production in 2010.
The company said equipment is scheduled to be in place by the third quarter of 2009 at its new manufacturing facility in Thornton, Colo.
As of Sept. 30, the company said it had $99 million in cash and short-term investment, most of which has been committed to buying manufacturing equipment and facilities and for working capital. It said it received an additional $15 million investment after the close of the quarter.
Ascent Solar is a developer of thin-film photovoltaic modules designed to be more flexible and affordable than most traditional solar panels.
Ascent Solar shares rose 4.6 percent, or 23 cents, to $5.22 in trading Tuesday morning. The shares have traded between $3.57 and $28.35 over the past year.