TFG Radiant increases ownership stake in Ascent Solar

Author: Spencer Ogden
Date posted05/Jan/2012
Author: Spencer Ogden

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.