Ascent Solar Technologies ( ASTI ) shares are trading higher after the company entered into a collaborative agreement with NASA.

What To Know: The agreement involves a 12-month program with NASA's Marshall Space Flight Center and support from NASA Glenn Research Center to develop power-beaming capabilities using Ascent's thin-film photovoltaic modules.

Ascent will contribute design and prototyping services, while NASA provides technical expertise and testing. The project aims to create lightweight, high-efficiency solar technology that can receive energy-dense beams of light in space, reducing spacecraft mass and improving mission flexibility.

"This collaboration with NASA further bolsters our longstanding belief that the unique capabilities of thin-film solar technology will play an integral role in overcoming the challenges of reliably converting solar energy and also receive beamed power in a breadth of harsh space environments," said Paul Warley, CEO of Ascent.

The company said the collaboration could lower costs and enable critical lunar operations, including surviving the lunar night and powering exploration in permanently shadowed regions.

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ASTI Price Action: At the time of writing, Ascent stock is trading 172.0% higher at $3.16, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.