Ascent Solar Technologies and Hydro Building Systems, a division of Norsk Hydro, said they plan to develop a new brise soleil product line with thin film flexible solar modules made by Ascent Solar.
Ascent Solar , shares surged as much as 19% in afternoon trading. The company's stock has traded between $2.01 and $11.34 during the past 52 weeks. Norsk Hydro shares were also up.
In architecture, a brise soleil is a sun-shading device designed to protect a building from the effects of sunlight. The companies said shading devices which incorporate solar photovoltaics provide opportunities to limit overheating in buildings, reducing the need for air conditioning systems, while converting the sun's energy into electricity to provide power to the building.
The companies plan to introduce a variety of designs and prototypes for the new product line in November 2007.
Hydro Building Systems said the company has dedicated a new division to focus on the smart integration of the Ascent Solar solutions into its product portfolio, which includes windows, doors, sliders, curtain walls and roof lights.
The division plans to start selling solar products beginning in 2008.