The agreement focuses on new products, commercial manufacturing and European market presence. In anticipation of commencement of Ascent’s 1.5MW pilot scale production in 2008, the parties have agreed to collaborate in the development of building integrated photovoltaic products.
Hydro will have an option to purchase quantities of Ascent’s annual production when Ascent achieves production capacity of 25MW.
The Norwegian firm has agreed to assist Ascent by providing manufacturing and engineering expertise, as well as project management assistance. It also intends to assist Ascent in citing a potential second commercial production facility in Europe, as well as helping Ascent establish strategic alliances with players in the European solar industry.
