Hydro will hold approximately 35% of the total outstanding common shares and approximately 35% of the total outstanding Class B warrants of Ascent Solar. The transaction will result in $24.8 million in proceeds to the company and is expected to be completed by March 31, 2008.
Ascent Solar was selected by the U.S. Air Force to continue development of a flexible thin-film tandem solar cell. The value of the contract is expected to be $750,000.
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