Ascent Solar Inks Deal with Energy Tech

THORNTON, Colo. (TheStreet) -- Ascent Solar Technologies(ASTI Quote) is going to war... sort of.

According to a release on Friday, the thin-film solar module developer is teaming with Mansfield, Ohio-based Energy Technologies to create photovoltaic products for the military.

As part of a signed definitive cooperation agreement, the two outfits will work to create hybrid solar-power systems to be used for the military's so-called soft-walled shelters. As is the case in many solar announcements, financial details were kept under wraps.

Still, shares were rising 55 cents, or 7.5%, to $7.92 in the morning and following the release.

It's been a busy announcing week for Ascent Solar, as the company earlier announced separate supply agreements -- one supply pact with Linden, N.J.-based TurtleEnergy for 67 megawatts worth of solar panels, and another 30,700 unit deal with portable charger-maker Goal Zero.

Elsewhere, First Solar(FSLR Quote) and Trina Solar(TSL Quote) were moving lower by 0.2% and 2.2% in late morning trading.

On the other hand, Suntech Power(STP Quote) and Yingli Green Energy(YGE Quote) were bidding higher after adding 0.8% and 3%, respectively.

-- Written by Sung Moss in New York

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