Ascent Solar Technologies Receives Order for Advanced Space PV Module Design Revision
THORNTON, Colo., March 27, 2025 (GLOBE NEWSWIRE) -- Ascent Solar Technologies ('Ascent' or the 'Company') (Nasdaq: ASTI), the leading U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced that it has received an order to revise the design of its space solar products after being evaluated by a potential customer interested in technologies capable of receiving beamed power.
Ascent's CIGS PV products have undergone performance testing by multiple third parties evaluating technologies for receiving beamed power. An initial beamed-power optimized module was designed, prototyped, and delivered to multiple third parties for testing and evaluation in less than one month's time.
Analysis of both the preliminary commercial off-the-shelf CIGS PV module and the beamed power optimized CIGS PV module prototype test data validated Ascent's CIGS PV material's superior thermal properties and demonstrated a pathway to further increase performance and power output. This design iteration was the basis of the most recent order received for the enhanced prototype after additional testing conducted this week. The Company is now fine-tuning module design modifications.
'As interest grows for power beaming and space-based solar power, our thin-film PV technology will stand out as a clear solution for that maximizing efficiency while mitigating the risks around solar solutions in space,' said Paul Warley, CEO of Ascent Solar Technologies. 'As we continue to fine-tune our technology to meet each of our customers' unique needs, we expect to experience increased demand and revenue opportunities.'
Ascent's ability to quickly design, iterate, and refine space solar array products in its 5MW manufacturing facility in Thornton, CO demonstrates the reliable Manufactured Readiness Levels (MRLs) for current and prospective customers. The Company is differentiated from traditional space solar providers' silicon-based PV products, as Ascent's CIGS manufacturing process allows design features and production processes to be adjusted for each customer's application needs. These agile and bespoke design capabilities enable the Company to provide superior products relative to other prospective solar providers, meeting the needs of global customers as the space-based solar power market expands.
To receive sales and demonstration information, please submit an inquiry here: https://ascentsolar.com/contact-us.
About Ascent Solar Technologies, Inc.
Backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio, Ascent Solar Technologies, Inc. is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. Ascent's photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, in industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. Ascent Solar's research and development center and 5-MW nameplate production facility is in Thornton, Colorado. To learn more, visit https://www.ascentsolar.com.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" including statements about the financing transaction, our business strategy, and the potential uses of the proceeds from the transaction. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. We have based these forward-looking statements on our current assumptions, expectations, and projections about future events. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as 'will,' "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's filings with the Securities and Exchange Commission including those discussed under the heading 'Risk Factors' in our most recently filed reports on Forms 10-K and 10-Q.
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