Ascent Solar (ASTI) +10.5% AH on news it's building a Chinese plant to make thin-film solar...

|About: Ascent Solar Technologies, ... (ASTI)|By:, SA News Editor

Ascent Solar (ASTI) +10.5% AH on news it's building a Chinese plant to make thin-film solar modules for use in its EnerPlex accessory line, courtesy of a JV with the government of the city of Suqian. Ascent, which will have a majority stake of "up to 80%," will contribute its IP, $1.6M, and equipment, and the government will provide $32.5M and rent-free use of a 270K sq. foot facility (expandable to 1M). The JV is also being given a "multi-year corporate tax holiday" and other perks, and Ascent will have the right to buy the plant at construction cost at any time in the first 5 years. The project is set to have 3 phases spread out over 6 years.