Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) is moving up with power after the Company reported a new $10 million funding agreement with BD 1, the investment holding arm of the German controlling shareholders of the Company. The funding is coming in 2 tranches of $5 million in August and October. And represents a huge vote of confidence from the Company’s controlling shareholder, well-known German entrepreneur worth hundreds of millions of euros, Bernd Förtsch. ASTI has a long history of huge runs with recent highs of $0.097 per share. The stock us a volume leader on the OTC and has a huge international following. This recent funding could be the catalyst the drives ASTI into a whole new dimension as many lessor penny stocks have done in recent months. A break over a dime and its blue skies ahead for ASTI. 

The run-on ASTI earlier this year came after Bernd Fortsch became the new controlling shareholder of the Company. Bernd Fortsch is a well-known German entrepreneur worth hundreds of millions of euros, after taking control of the company he immediately brought on a top-level management team of major international executives including Michael Gilbreth as CFO and Will Clarke as class 2 director. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost. 

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI)  is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels.  Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine’s 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications.

Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) are based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV modules have been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over one year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment.

Microcapdaily has been reporting on ASTI for years since the stock was well below the $0.01 mark. More recently we reported on Bernd Förtsch gaining a controlling interest in the Company and all the big things that have been happening here since. Bernd Förtsch is a German entrepreneur and publisher. He is the founder and owner of the Kulmbach- based Börsenmedien AG, which publishes, among other things, the stock exchange and financial magazines The Shareholder and The Investor. In addition, Bernd Förtsch is founder and owner of Aktionär TV AG and founder of the online broker flatex . Förtsch achieved notoriety above all in the context of the stock market euphoria of the Neuer Markt.  Mr. Förtsch is 60,3% owner of TubeSolar AG and he holds stakes in Companies such as BF Holding GmbH, Deposit Solutions GmbH, Flatex AG, the biggest online broker in Europe, valued at 1.2 billion Euros, Flatex Bank AG, Börsenmedien AG, Coreo AG, Fintech Group AG and many more.

$ASTI
NASA contract holder https://t.co/Jwz4S3BwAJ

— Elena Daniel (@elena1daniel) August 6, 2021

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Earlier this year ASTI was selected by NASA’s Marshall Space Flight Center in Huntsville, Alabama, for participation in two upcoming flight demonstrations – the Lightweight Integrated Solar Array and anTenna (LISA-T) project and the Solar Cruiser solar sail project. Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) are based on the copper-indium-gallium-selenium (CIGS) chemistry and could benefit various future missions, ranging from CubeSats, solar sails, and potentially for missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV module has been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, most recently, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over 1 year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment.

The Company also completed the delivery of a major contract for its HyperLight thin-film modules for high altitude airship applications. The HyperLight family of modules further reduces packaging and PV module mass, achieving best-in-class power-to-weight ratio (Specific Power) of over 350 W/kg for a fully laminated product on an airship, while streamlining customer operations to integrate the modules to their application.

On May 25 ASTI reported results for the quarter ended March 31, 2021. The Company posted net revenue of $165K for Q1 2021, a sharp increase from the corresponding quarter in 2020 of $4K. As reported previously, the Company was predominantly in a dormant status in the first nine months of 2020 due to financial constraints and COVID-19. After a series of restructuring and recapitalization activities which began in June 2020, the Company materially restarted its operations in October 2020. Hence, leading to increased revenue as compared to the same period last year. 

Cost of revenue, however, remained relatively flat at $73K from the corresponding quarter in 2020 despite the sharp increase in net revenue and production level. This is due to our primary focus in high-margin Tier-1 specialty PV markets and better operational efficiency resulting from increasing production activity. Despite the loss from operations, the Company reported net profit of $1.9M for the quarter, which included a substantial gain of approximately $3.6M from the extinguishment of the derivative liability associated with the outstanding convertible notes, offset by $562K of accrued interest expense. Cash and cash equivalents have also improved sharply from a $168K balance in first quarter of 2020 to $3.7M for the quarter ended March 31, 2021.  

CEO Victor Lee stated: “Since September of 2020, the Ascent team has been working tirelessly to restart our operations and get caught up with the required SEC filings. Despite setbacks caused by various challenges including the lack of financial resources and the impact of COVID-19 in 2020, we have demonstrated great resiliency and are now current in our filing status, as well as getting back to regular production mode. We will build on the strength of our first quarter effort and continue to deliver improved results going forward. The recent delivery of a large PV order as announced on May 17, 2021, will certainly add to revenue growth in the second quarter and beyond. We are optimistic and certainly look forward to stronger years ahead, as we begin to execute our focused strategy in the high-value PV market. We will update our shareholders as we make continued progress.” 

Insider BD1 Investment Holding, LLC reports buying 666,666,672 shares of $ASTI for a total cost of $6,666,666,773,333,333.76 https://t.co/6Gxo0borZS

— Fintel (@fintel_io) August 4, 2021

Here’s a great follow up article regarding the news of $10M being invested into $ASTI. Owners and major investors alike are extremely confident in the future of Ascent Solar Technologies…and so am I!! https://t.co/FJUK7zM6do

— Jason (@Jason57975725) August 5, 2021

For More on ASTI Subscribe Right Now!

ASTI is moving up with power after the Company reported a new $10 million funding agreement with BD 1, the investment holding arm of the German controlling shareholders of the Company. The funding is coming in 2 tranches of $5 million in August and October. And represents a huge vote of confidence from the Company’s controlling shareholder, well-known German entrepreneur worth hundreds of millions of euros, Bernd Förtsch. ASTI has a long history of huge runs with recent highs of $0.097 per share. The stock us a volume leader on the OTC and has a huge international following. This recent funding could be the catalyst the drives ASTI into a whole new dimension as many lessor penny stocks have done in recent months. A break over a dime and its blue skies ahead for ASTI. The run-on ASTI earlier this year came after Bernd Fortsch became the new controlling shareholder of the Company. Bernd Fortsch is a well-known German entrepreneur worth hundreds of millions of euros, after taking control of the company he immediately brought on a top-level management team of major international executives including Michael Gilbreth as CFO and Will Clarke as class 2 director. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost.  We will be updating on ASTI as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with ASTI.

Disclosure: we hold no position in ASTI either long or short and we have not been compensated for this article.

The post Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) Major Move Cooking As Flexibal Solar Pioneer Secures $10 Million Funding first appeared on Micro Cap Daily.

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French carmaker Renault Group is returning to the mainland China's passenger car market, the world's largest, with a new partnership with Geely, more than a year after quitting a venture in Wuhan with a local rival.

Renault and privately-held Zhejiang Geely Holding Group - which owns Geely Auto, Volvo Cars and a stake in Daimler - agreed to share resources and technologies to focus on making hybrid vehicles for Asian markets, according to a statement on Monday. No other details were disclosed in the memorandum of understanding.

"In China, based on Geely Holding's existing technologies and mature industrial footprint, both partners will jointly introduce Renault- branded hybrid vehicles," the carmakers said in a joint statement on Monday. "Renault will contribute on branding strategy, channel and service development."

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The agreement marks Renault's renewed effort to gain a foothold in the mainland market after quitting another venture, following months of Covid-19-related shutdowns to its venture in Wuhan. The carmaker sold its 50 per cent share to Dongfeng Motor in April 2020 to focus on producing light commercial vehicles and electric vehicles. Soh Weiming, a former top executive at Volkswagen, joined as China chief executive in March to lead Renault's business makeover in China.

China is the world's largest passenger car market based on 19.7 million units sold in 2020, according to data compiled by IHS Markit. Sales of new-energy vehicles (NEVs) amounted to 6.3 per cent or 1.2 million units, and are expected to reach 2.2 million in 2021 and 6.1 million or 24 per cent of the market in 2025. UBS forecast it may reach 6.6 million in 2025.

NEVs comprise electric vehicles, plug-in hybrid EVs, and fuel cell electric vehicles, each taking 78.9 per cent, 21.1 per cent and less than 0.1 per cent the total NEV sales volume in 2020, according to IHS Markit.

"The signing paves the way for potential joint ventures between the two car companies and production of Renault-branded hybrid vehicles in China," said Gao Shen, an independent analyst in Shanghai. "For Renault, Geely appears to be an ideal partner due to its leading position in the local market."

Geely is controlled by Li Shufu, who ranked 26th in Forbes' China Rich List in 2020. His current net worth is estimated at US$21 billion.

The new partnership with Renault added to his efforts to push into the NEV market as China pursues its carbon-neutrality goal by 2060. Earlier this year, Geely teamed up with Baidu and Foxconn to build smart EVs and launched its own smart EV brand Zeekr to compete with Tesla's Shanghai-made Model 3s.

The agreement did not reveal the time frame for the venture or specific vehicle models to be developed by the two carmakers. Renault, based in Boulogne-Billancourt in western Paris, launched three extended hybrid cars from its Arkana, Captur and Megane models in May.

Renault Samsung Motors, the carmaker's venture in South Korea, would explore localisation of vehicles based on Geely's Lynk energy-efficient vehicle platforms for local markets, according to the statement.

Lynx & Co, a brand Geely co-developed with Volvo cars, sold more than 120,000 units in its first year after its launch in China in 2017. It ranked second after WEY among mass-market internal-combustion engine vehicles in the latest 2021 market study by JD Power.

More from South China Morning Post:

• Snubbing Tesla, Joe Biden sets ambitious target for US electric vehicle sales
• China's booming EV industry faces overcapacity issues and this will see consolidation and closures, analyst says
• Apple supplier Foxconn and China's Geely start EV venture to make cars for others, as sector chases its iPhone moment
• Chinese carmaker Geely scraps US$3 billion secondary listing on Shanghai's Nasdaq-like Star Market
• Geely to take on Tesla with premium brand Zeekr as demand for electric cars soars in China

Read the original article on South China Morning Post. For the latest news from the South China Morning Post download our mobile app. Copyright 2021.

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The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a bumpy ride last week, opening at 929.52, hitting a high point of 933.92 midway through the week and closing at 925.59.

News landed on Friday (August 6) that the Canadian economy added 94,000 jobs in July, with gains concentrated in the service sector. According to Statistics Canada, the country’s unemployment rate fell to its lowest since March of this year, coming in at 7.5 percent for the month.

Canada is now about 246,400 jobs, or 1.3 percent, below its pre-pandemic employment level.

Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:

• Western Magnesium (TSXV:WMG)
• Mkango Resources (TSXV:MKA)
• Stelmine Canada (TSXV:STH)
• Power Metals (TSXV:PWM)
• Trench Metals (TSXV:TMC)

Here’s a look at those companies and the factors that moved their share prices last week.

1. Western Magnesium

Western Magnesium is focused on becoming a low-cost producer of eco-friendly and high-quality magnesium. The company intends to use a continuous silicothermic process to produce the metal.

There was no fresh news from Western Magnesium last week, but its share price increased 113.11 percent to close the five day period at C$0.65.

2. Mkango Resources

Mkango Resources’ goal is to develop new sustainable primary and secondary sources of the rare earths neodymium, praseodymium, dysprosium and terbium, which are needed in electric vehicles, wind turbines and other clean technology. Its main asset is Songwe Hill in Africa.

Last Thursday (August 5), the company announced an agreement with Talaxis under which it will acquire Talaxis’ 49 percent stake in Lancaster Exploration, the owner of the Malawi-based Songwe Hill rare earths project. The deal will also see Mkango acquire Talaxis’ 24.5 percent interest in Maginito, which owns 25 percent of rare earths magnet recycler HyProMag. According to Mkango, the 13 million pound agreement will give it 100 percent ownership of both Songwe Hill and Maginito. The company’s share price rose 46.67 percent on the news to end at C$0.55.

3. Stelmine Canada

Quebec-focused Stelmine Canada is aiming to open a new gold-mining camp in the eastern part of the Opinaca metasedimentary basin. It wholly owns 1,574 claims covering 815 square kilometers in the area, highlighted by the Courcy and Mercator projects.

 

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Last Tuesday (August 3), Stelmine announced the discovery of a potentially large gold system at Mercator. Currently a Phase 1 summer exploration program is taking place, including geophysics and extensive sampling, with maiden drilling possibly in the cards during the second half of the year. The company’s share price jumped 37.5 percent last week to finish at C$0.22.

4. Power Metals

Power Metals is looking to explore and develop its Canadian cesium, lithium and tantalum assets. The company wants to supply the lithium-ion battery and cleantech industries.

There was no fresh news from Power Metals last week, but shares rose 37.14 percent to close at C$0.24.

5. Trench Metals

Exploration and development company Trench Metals has the right to acquire a 100 percent stake in the Gorilla Lake uranium project, located in the Cluff Lake area of Saskatchewan’s Athabasca Basin.

Trench Metals didn’t release any news last week, but its share price rose 31.87 percent to hit C$0.60.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

 

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The post 5 Top Weekly TSXV Stocks: Mkango Soars on Rare Earths Deal appeared first on Investing News Network.

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