October 5, 2010 / 10:30 AM / 7 years ago

UPDATE 1-Ascent Solar inks distribution deal with French co

* Distribution deal for Ascent Solar’s CIGS modules

* Says deal gives it access to emerging markets in Europe

* Sees more in CIGS modules lineup to be marketed via deal

Oct 5 (Reuters) - Ascent Solar Technologies Inc ASTI.O said it signed a distribution deal with DisaSolar for its CIGS solar modules, which convert sunlight into electricity, giving it access to emerging markets in Europe.

Paris-based DisaSolar, a unit of the Megamark/DisaTech Group, develops, distributes and installs customized photovoltaic systems.

“This relationship will give us access to new and emerging market opportunities in transportation that could provide significant growth over the coming years in France as well as other countries across the globe,” Ascent Solar Chief Executive Farhad Moghadam said in a statement.

“We also expect that other products in our lineup of flexible, lightweight CIGS modules will be marketed through this relationship.”

Demand for solar products soared in the first half of the year as customers brought forward orders ahead of cuts to renewable energy subsidies in key European markets.

Tuesday’s deal comes a month after Ascent Solar said Radiant Holding will distribute its flexible copper-indium-gallium -selenide (CIGS) modules in China. [ID:nSGE68C0JO]

Shares of the company, which have risen over 10 percent since the deal with Radiant Holding, closed at $3.51 Monday on Nasdaq. (Reporting by Adveith Nair in Bangalore; Editing by Aradhana Aravindan)

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