Ascent Solar and The Energy and Resource Institute (TERI), India Sign Memorandum of Understanding (MOU)
October 27 2010 - 6:30AM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
flexible thin-film solar modules, has entered into a memorandum of
understanding (MOU) with The Energy and Resource Institute (TERI)
of New Delhi, India. Under the terms of the MOU, TERI will perform
testing and performance evaluation of Ascent Solar high efficiency
flexible thin-film CIGS modules and study the feasibility of
including Ascent’s modules for TERI’s flagship program “Lighting a
Billion Lives” (LaBL) and other projects currently under
development at TERI.
Upon successful completion of evaluation of both technical and
economical feasibility, TERI and Ascent Solar will mutually discuss
and decide on the terms and conditions for the use of Ascent
Solar’s modules for the LaBL program and or other projects. TERI
and Ascent Solar will also decide on the implementation model to
follow once the evaluation phase is complete.
Ms. Akanksha Chaurey, Director Decentralised Electricity
Solutions and Lighting a Billion Lives Campaign TERI, said, "Ascent
Solar has been one of the forerunners in the development of
futuristic technologies in the field of solar photo-voltaic energy.
Our collaboration with Ascent Solar will help engage the much
needed newer, cutting edge solar photo-voltaic technologies into
our ongoing electrification projects for rural applications
including solar lighting through our flagship programme Lighting a
Billion Lives.”
Ashutosh Misra, SVP of Corporate Development for Ascent Solar,
stated, “India is one of the largest off-grid electricity markets
in the world and the need for innovative and cost competitive
off-grid electricity generation in urban and rural markets in India
presents a tremendous opportunity for Ascent Solar. TERI is a
premier organization focusing on developing a range of technologies
that have created new paradigms of development underlining the
sustainable use of natural resources, and are proven for their
effectiveness and economic viability. Our joint collaboration to
develop various solar energy solutions for TERI’s rural
electrification projects including its flagship 'Lighting a Billion
Lives' based on solar technology provides us with a unique
opportunity to grow our market share in India. Our unique,
light-weight, ruggedized, high power density thin-film CIGS modules
enable ease of installation, handling and transport that are an
ideal solution for LaBL and other programs like it.”
About The Energy and Resource Institute:
A dynamic and flexible organization with a global vision and a
local focus, TERI was established in 1974. While in the initial
period the focus was mainly on documentation and information
dissemination activities, research activities in the fields of
energy, environment and sustainable development were initiated
towards the end of 1982. The genesis of these activities lay in
TERI’s firm belief that efficient utilization of energy,
sustainable use of natural resources, large–scale adoption of
renewable energy technologies and reduction of all forms of waste
would move the process of development towards the goal of
sustainability.
All activities in TERI move from formulating local and national
level strategies to suggesting global solutions to critical energy
and environment-related issues. It is with this purpose that TERI
has established regional centres in Bangalore, Goa, and Guwahati,
and a presence in Japan, Malaysia, Russia, and the United Arab
Emirates. It has also set up affiliate institutes: TERI–NA (The
Energy and Resources Institute, North America) Washington DC, USA,
and TERI–Europe in London, UK.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film
photovoltaic modules with substrate materials that can be more
flexible and affordable than most traditional solar panels. Ascent
Solar modules can be directly integrated into standard building
materials, commercial transportation, automotive solutions, space
applications, consumer electronics for portable power or configured
as stand-alone modules for large scale terrestrial deployment.
Ascent Solar is headquartered in Thornton, Colo. Additional
information can be found at www.ascentsolar.com.
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forward-looking. The forward-looking statements contained herein
are also subject to risks and uncertainties that are described in
our most recent annual report on Form 10-K under the heading “Risk
Factors” and our subsequent filings with the Securities and
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receipt of new information, future events, or otherwise.
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