Including the latest share purchase, Hydro has invested a total of $63 million in Ascent Solar.
Hydro is a supplier of energy-efficient building systems to the European market through the brands Domal, Technal and Wicona, and the company has signed an agreement with Ascent to develop new solutions of solar integrated building systems in aluminum.
Ascent is currently testing production from its pilot production line, while simultaneously building a factory for 30MW production which will be commissioned in 2009.
Einar Glomnes, head of Hydro’s solar business unit, said: Ascent has developed a technology for the production of super thin and flexible solar cell modules that are well suited for integration in building systems. As Hydro is a major supplier of building systems in Europe, the partnership with Ascent is strategically important.
