SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Norsk Hydro Produksjon AS

(Last)

(First)

(Middle)

DRAMMENSVEIEN 264

(Street)

OSLO

N-0240

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Ascent Solar Technologies, Inc. [ ASTI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/16/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	08/16/2007		J		934,462	A	$7.198	2,534,462	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Initial Warrants Class A Call Option (right to buy)⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾	$7.198	08/16/2007		J			1	08/16/2007	06/15/2009	Common Stock	934,462	$0	0	D
Initial Warrants Class B Call Option (right to buy)	$1.91	08/16/2007		J			1	08/16/2007	06/15/2009	Class B Warrants	1,965,690	$0	1,965,690	D
Class B Warrants (right to buy)	$1.91	08/16/2007		J		1,965,690		08/16/2007	07/10/2011	Common Stock	1,965,690	$1.91	1,965,690	D

Explanation of Responses:

1. On June 15, 2007, Ascent Solar Technologies, Inc. (the ?Company? or the ?Issuer?) granted to Norsk Hydro Produksjon AS ("Produksjon"), and Produksjon acquired from the Issuer, an option to acquire from the Issuer, and to require the Issuer to sell to Produksjon (the "Initial Warrants Call Option"), (i) a number of restricted, redeemable Class A public warrants otherwise identical to the publicly traded Class A public warrants of the Issuer, each of which entitles the holder thereof to purchase one share of common stock par value 0.0001 per share (each a "Share"), at an exercise price of $6.60 per Share (the "Class A Warrants"), that will result in Produksjon owning 23% of all issued and outstanding Class A Warrants immediately after such sale and purchase (the "Initial Class A Warrants") and (ii) a number of restricted, non-redeemable Class B public warrants otherwise identical to the publicly traded Class B

2. (footnote continued) public warrants of the Issuer, each of which entitles the holder thereof to purchase one Share at an exercise price of $11.00 per Share (the "Class B Warrants"), that will result in Produksjon owning 23% of all issued and outstanding Class B Warrants immediately after such sale and purchase (the "Initial Class B Warrants", together with the Initial Class A Warrants, the ?Initial Warrants?). The Securities Purchase Agreement entered into by Produksjon and the Company on March 13, 2007, provides that if the Class A Warrants have been redeemed by the Company in accordance with their terms on or prior to the date of the acquisition of the Initial Warrants by Produksjon, the Company will issue to Produksjon, and Produksjon will purchase, accept and acquire from the Company, a number of Shares (the ?Initial Replacement Shares?), at a price per

3. (footnote continued) Share equal to the average of the closing bids for the Shares on Nasdaq during the five consecutive trading days ending on (and including) the trading day that is one day prior to the date of exercise of the Initial Warrants Call Option sufficient to ensure that Produksjon acquires the percentage ownership of the Company that it would otherwise have acquired had the Company not redeemed the Class A Warrants on or prior to such date. On August 13, 2007, Produksjon exercised the Initial Warrants Call Option, and on August 16, 2007, Produksjon exercised, purchased and acquired from the Company, 934,462 Initial Replacement Shares at $7.198 per Share,

4. which is equal to the average of the closing bids for the Shares on Nasdaq during the five consecutive trading days ending on (and including) August 10, 2007 and (ii) 1,965,690 Class B Warrants at $1.91 per Class B Warrant, which is equal to the average of the closing bids for the Class B Warrants on Nasdaq during the five consecutive trading days ending on (and including) August 10, 2007. The issuance, purchase and sale of the Initial Replacement Shares and the Initial Class B Warrants is hereinafter referred to as the "Initial Warrants Closing".

Remarks:

	/s/ Jorgen C. Arentz Rostrup	08/20/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.