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Ascent Solar to supply to Foxconn, shares rise

(Reuters) - Ascent Solar Technologies Inc ASTI.O said it will supply thin-film photovoltaic panels to Foxconn Technology Group, which makes products for Apple Inc AAPL.O, sending its shares up 14 percent.

The panels, which can be directly incorporated into roofing membranes, shingles, siding and facades, will be used at a new Foxconn factory in China’s Zhengzhou City, Ascent said.

The panels will be used on a pilot basis, Ascent said. No financial details were disclosed.

Shares of Ascent, which in June launched a solar-powered charger for the Apple iPhone, has nearly doubled this year. The stock rose to $1.32, its highest in nearly a year, on Monday on the Nasdaq.

Reporting by Krishna N. Das in Bangalore; Editing by Supriya Kurane