Ascent Solar Technologies, Inc. (Nasdaq:ASTI) pulled back Wednesday, after a couple of positive reports pushed the solar company up.
The first was the announcement they reached a distribution agreement with Votum, a solar integrator from the Czech Republic. Next was the recent news they were awarded full IEC 61646 certification, the first by a flexible thin film solar module manufacturer.
Ascent Solar's President and CEO Farhad Moghadam said, “This relationship will give us access to a rapidly growing market for BIPV and BAPV applications in the Czech Republic. We also expect that other products in our line-up of flexible, lightweight CIGS modules will be marketed through this relationship. Votum has a sound solar integration business and is an
excellent partner to have for distribution of our products in the Czech
Republic.”
That will allow the company to test the moduels under a variety of conditions. The reason that's significant for them is it will empower Ascent Solar to make a big move into the building integrated PV market, which is the fastest growing segment in the solar industry, with estimates of a $7 billion market emerging within a period of five years.
Ascent was at $5.38, down $0.28, or 4.95 percent, as of 3:38 PM EDT.
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