Why Ascent Solar Shares Are Jumping Today
Portfolio Pulse from Nabaparna Bhattacharya
Ascent Solar Technologies, Inc (NASDAQ:ASTI) shares are trading higher after the company received encouragement from the U.S. Department of Energy to submit a full application for federal funding of the Agrivoltaic Product Development Project. The company is working on agrivoltaic technologies that will benefit American farmers by enabling reliable and durable on-site solar power generation. The Biden-Harris Administration has shown commitment to spurring agrivoltaic adoption with a funding opportunity, which will award $45 million for projects to enable continued solar cost reductions.
October 24, 2023 | 10:18 am
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Ascent Solar Technologies' stock is trading higher after the company was encouraged by the U.S. Department of Energy to apply for federal funding for its Agrivoltaic Product Development Project.
The news of the company being encouraged to apply for federal funding for its Agrivoltaic Product Development Project is a positive development. This could potentially lead to financial support for the company's project, which would be beneficial for its operations and future growth. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100