Ascent Solar Technologies Publishes Business Update on Progress to Establish Long-Term Revenue Through Space Solar Solutions Underway
Rhea-AI Summary
Ascent Solar Technologies (ASTI) has provided a business update highlighting its progress in establishing long-term revenue through space solar solutions. The company is currently collaborating with multiple strategic partners in the space market, including a major defense contractor, deployable technology companies, and a satellite company for integration testing of their thin-film CIGS solar technology.
CEO Paul Warley announced that the company's turnaround process has been completed, with their products now achieving higher device performance necessary for space-based power applications. The company's solar efficiency improvements are creating new revenue opportunities driven by increasing demand for space vehicle power and solar energy beaming. All products are manufactured domestically at their Thornton, CO facility.
Positive
- Completed company turnaround process
- Achieved higher solar device performance metrics
- Engaged with multiple strategic space market partners
- Domestic manufacturing capability for space-grade solar technology
Negative
- No concrete revenue figures or contracts announced
- Testing and integration phase still ongoing without confirmed deals
THORNTON, Colo., March 18, 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 reported on its commercial progress and achievement of stated annual goals as the Company continues to execute upon its 2025 growth initiatives.
Ascent is currently engaged with multiple strategic partners in the space market, including a major defense contractor, multiple deployable technology companies, as well as a satellite company to complete extensive integration testing of the Company’s unique thin-film CIGS solar technology. The expected result of successful testing and integration of Ascent’s technology is to secure long-term agreements for consistent annual revenue with a diverse set of customers in the space market.
“I am happy to report that Ascent’s challenging turnaround process is in the rear-view mirror, as our products now regularly achieve the higher device performance needed to meet customer needs for space-based power,” said Paul Warley, CEO of Ascent Solar Technologies. “Our latest solar efficiency milestones are opening new revenue streams driven by the increasing demand to power space vehicles and beam solar energy. Ascent products - all produced domestically in our facility in Thornton, CO - are uniquely poised to reliably meet that demand in the harsh environment of space, reducing costs and increasing operational efficiency for customers in the public, private and government sectors.”
Ascent’s leadership team looks forward to building upon its success for the remainder of 2025 and is eager to update its stockholder community with impactful Company announcements and milestones as they are finalized. Interested parties seeking to learn more about the Company, its products/technology, and market opportunity are encouraged to visit https://www.ascentsolar.com or email IR@ascentsolar.com.
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.
Media Contact
Spencer Herrmann
FischTank PR
ascent@fischtankpr.com
FAQ
What strategic partnerships has ASTI secured for space solar solutions in 2025?
How is Ascent Solar Technologies positioning itself in the space solar market?
What manufacturing capabilities does ASTI have for space solar solutions?
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