October 11, 2010 / 3:33 PM / 7 years ago

Ascent Solar passes key reliability test, shares soar

Bangalore (Reuters) - Ascent Solar Technologies Inc, a developer of thin-film photovoltaic modules, said it passed a key performance and long-term reliability test that would give it larger market opportunities, pushing its shares to a 26-week high.

The U.S. solar modules maker said it received full IEC 61646 certification after passing a battery of tests conducted by an independent laboratory. The IEC prepares standards for all electrical, electronic and related technologies.

Thornton, Colorado-based Ascent said the certification "opens the door for an aggressive push into building integrated photovoltaic (BIPV) and building applied photovoltaic applications for use in commercial, industrial and residential rooftop markets."

BIPVs, which companies like Ascent and Energy Conversion Devices Inc make, can be built into the structure of a building.

Given their unobtrusive nature, BIPVs were once touted as the next big thing in solar power, but have so far not taken off as expected.

The company's shares, which have been topsy turvy this year, were up 41 percent at $4.79 Monday morning on Nasdaq.

Reporting by Krishna N. Das in Bangalore; Editing by Jarshad Kakkrakandy

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