Ascent Solar Technologies (ASTI) said Thursday it has entered into a collaborative agreement with NASA to develop thin-film photovoltaic modules that can receive beamed power for space applications.

The company said it will provide design and prototyping services, while NASA will provide technical support and test services through its Marshall and Glenn centers.

The 12-month project aims to deliver commercial products that reduce power system size and cost for future missions, Ascent said.

NASA previously tested the company's off-the-shelf modules and validated their ability to receive beamed energy, supporting the basis for the current collaboration, the company said.

Ascent also said the technology could enable power generation in shadowed lunar regions and support NASA's Artemis and Commercial Lunar Payload Services missions.

Shares of the company were up by over 157% in recent premarket activity Thursday.