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Ascent Solar +31.6% after Chinese government clears JV

Oct. 28, 2014 9:39 AM ETAscent Solar Technologies, Inc. (ASTI) StockBy: Eric Jhonsa, SA News Editor1 Comment
  • The Chinese government has granted Ascent (OTCPK:ASTI) a business license and a "Certificate of Approval for Establishment of Enterprises with Foreign Investment." The company declares these approvals were "the main gating factors" preventing its JV with the city of Suqian (previous) from commencing operations.
  • Ascent expects "certain components of the JV factory will be in operation by the end of Q1 2015." Suqian has committed to providing $32.5M in capital, as well as 5 years of free usage of a manufacturing facility, a 5-year tax holiday, and "significant trade incentives."

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