October 1, 2009

Thornton, CO, USA: Ascent Solar Prices Public Offering of Common Stock

Thin-film developer, Ascent Solar has priced its previously announced public offering.

Ascent Solar is offering 4.6 million shares of its common stock at $6.50 per share to the public. Ascent Solar has granted the underwriters a 30-day option to purchase up to 692,000 additional shares of common stock from Ascent Solar.

The offering is expected to settle and close on October 6, 2009, subject to customary closing conditions. Net proceeds from the offering are expected to be used for expansion of Ascent Solar's rated production capacity and for general corporate purposes.

This offering was made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.

Norway's Hydro has entered into a $5 million securities common stock purchase agreement with Ascent Solar. The private placement is subject to, and is expected to be completed at the same time as, an underwritten public offering of Ascent Solar common stock, which is expected to close on October 6.

The capital injection into Ascent Solar is intended to enable the company to ramp up its 30-megawatt thin-film production facility in Thornton, Colorado, in 2010.

Hydro currently owns approximately 35 percent of Ascent Solar's common stock and will remain the largest shareholder immediately after the private placement

Further details about: Ascent Solar and Hydro