TFG Radiant increases ownership stake in Ascent Solar
TFG Radiant Investment Group is planning to increase its ownership stake in US-based solar panel manufacturer Ascent Solar Technologies.
TFG Radiant acquired about 20% of the outstanding shares of Ascent in August 2011.
The increase will put TFG Radiant's ownership at approximately 41%.
TFG Radiant will acquire the stake in the company presently owned by Norsk Hydro Produksjon for $4m, or about $0.50 per share.
The transaction is expected to close within the next 90 days.
Ascent Solar is a developer of thin-film photovoltaic modules using flexible substrate materials.