By Josh Beckerman
Ascent Solar Technologies shares rose 31% to $1.30 after hours as a concept paper for an agrivoltaic product development project received an “encouraged” notification from the U.S. Department of Energy.
The maker of thin film solar panels plans to submit a full application for a DOE-funded project, “demonstrating our technology’s potential following years of research for application to produce solar energy on farms, and provide water conservation.”
Ascent stock is down more than 99% this year. The company said in its 10-Q filing in August that it “continues to look for ways to expand its production of PV films at industrial scale, and to secure long-term contracts for the sale of such output,” and said there was doubt about its ability to continue as a going concern.
Write to Josh Beckerman at josh.beckerman@wsj.com
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