Ascent Solar Technologies Inc. has won a contract from U.S. military's advanced research department, the company said Tuesday.
Ascent has been asked to create low-cost, lightweight solar modules that can stand up to battle conditions and environmental extremes.
Company shares rose 17 cents, or 6 percent, to $3.06 in morning trading, but still close to its 12-month low of $2.88. It has traded as high as $8.83 in the past year.
The project will be completed in three phases, the first of which is 18 months. The first phase is worth about $3.8 million.
The entire program, run by the Defense Advanced Research Projects Agency, is expected to continue over the next 4.5 years.
