Welcome to our dedicated page for Ascent Solar Tec news (Ticker: ASTI), a resource for investors and traders seeking the latest updates and insights on Ascent Solar Tec stock.
Ascent Solar Technologies, Inc. (Nasdaq: ASTI) is described in company materials as a U.S. innovator in featherweight, flexible thin-film photovoltaic (PV) solutions. Its news flow highlights how this technology is applied in space, defense, agrivoltaic, industrial, and consumer contexts, as well as how the company funds its operations through public offerings, at-the-market programs, and private placements.
On this page, readers can review news about technology deployments and testing, such as Ascent’s thin-film PV modules being evaluated for spacecraft power generation in cislunar space, durability testing in saltwater environments for ocean monitoring technologies, and assessments of space-based power beaming receiving capabilities. Company announcements also describe the delivery of mission-optimized Plug & Fly™ solar array blanket assemblies for spaceflight, designed using CIGS PV modules and lighter-weight, space-rated laminates.
Another key theme in Ascent Solar’s news is its teaming agreements and partnerships. Recent releases discuss collaborations with companies focused on mobile hydrogen generation for drones and terrestrial defense applications, advanced power conversion and conditioning for space missions, graphene-based long-duration energy storage, and space-to-space power beaming services. These items illustrate how Ascent’s thin-film PV technology is integrated into broader power and energy systems for U.S. defense, national security, and commercial space markets.
Investors and observers will also find capital markets updates, including private placements of common stock and warrants, best-efforts public offerings, and changes to an at-the-market offering agreement. These news items summarize gross proceeds, intended use of funds for working capital and corporate purposes, and the involvement of placement agents.
By following the ASTI news feed, users can see how Ascent Solar’s flexible thin-film PV technology is being tested, deployed, and financed across multiple high-performance applications and specialized environments.
Ascent Solar Technologies (ASTI) reported a 660% increase in net revenue to $0.38 million for Q2 2021, compared to Q2 2020's $0.05 million. However, expenses rose 470% to $2.14 million, leading to a net loss of $1.7 million, which is a 25% increase from the prior year. Year-to-date net revenue reached $0.55 million, significantly higher than $0.07 million in 2020. Cash reserves improved to $1.36 million from $0.17 million in December 2020, while total liabilities dropped by $11.59 million. The company anticipates further improvements with a $10 million funding commitment.
Ascent Solar Technologies (ASTI) announced a new funding agreement with BD 1 Investment Holding, LLC on August 2, 2021, involving the sale of 666.67 million shares at $0.015 per share for a total of $10 million. The transaction will be completed in two tranches: $5 million by August 31, 2021, and the remaining $5 million by October 31, 2021. CEO Victor Lee expressed confidence in this funding, highlighting its role in supporting operational recovery post-pandemic and aiming for capacity and sales development. BD 1’s investment reinforces belief in Ascent’s potential in the specialty PV markets.
Ascent Solar Technologies (OTC-PK: ASTI) announced its participation in SOCOM's Technical Experimentation event on July 27-29, 2021, showcasing its lightweight CIGS photovoltaic system. The focus of this event was on See-Through-The-Wall (STTW) technologies for military applications. Ascent demonstrated how its solar solutions can support expeditionary power needs, marking the fourth consecutive year it has been invited. The company's technology aims to enhance operational efficiency for Special Operations Forces, positioning Ascent as a potential key partner for the Department of Defense.
Ascent Solar Technologies (ASTI) reported significant growth in Q1 2021, achieving net revenue of $165K, up from $4K in Q1 2020. This improvement follows a successful restructuring and operational restart in late 2020. Net profit reached $1.9M, bolstered by $3.6M from extinguishing derivative liabilities. However, operational losses were $1.2M due to increased R&D and SG&A expenses. Cash reserves grew to $3.7M, with total liabilities reduced by $11.2M. The management expresses optimism for future growth, citing recent large PV orders.
Ascent Solar Technologies (OTC: ASTI) has completed a significant contract delivery for its lightweight HyperLight thin-film modules, which are designed for high-altitude airship applications. This order marks the third and largest shipment to a customer operating unmanned, helium-filled airships above 60,000 feet. The HyperLight modules achieve a power-to-weight ratio exceeding 350 W/kg, enhancing operational efficiency. The CEO highlighted this delivery as a historic achievement for the company, expecting future projects to expand significantly within premium photovoltaic markets.
Ascent Solar Technologies (OTC: ASTI) announced its full-year financial results for 2020, highlighting a strategic recapitalization and restructuring of its balance sheet initiated in June 2020. The company appointed Michael Gilbreth as CFO and made significant changes to its Board of Directors. CEO Victor Lee emphasized ongoing efforts to restart operations and the focus on Tier-1 markets including space and military applications. Ascent Solar's innovative thin-film PV solutions remain integral to its strategy, with optimism for revenue growth in 2022 from defense and emergency power markets.
Ascent Solar Technologies (OTC-PK: ASTI) may gain substantial support from H.R. 133, part of the Coronavirus Response and Relief Supplemental Appropriations Act. This includes potential funding from the Department of Energy for innovative, US-made photovoltaic technologies. Notably, the Biden Administration has committed $128 million for solar technologies, including perovskite cells. Ascent collaborates with NREL on advanced solar cells, targeting sectors like aerospace and defense. The bill outlines specific support for advanced PV technologies, which positions Ascent favorably in the evolving energy landscape.
Ascent Solar Technologies (OTC-PK: ASTI) announces a completed funding agreement and the settlement of a secured promissory note. On March 4, 2021, the company entered a common stock purchase agreement for 75 million shares at $0.04 each, raising $3 million. Additionally, a settlement with Global Ichiban Limited led to the issuance of 168 million shares to cancel a $5.8 million note, removing liens from company assets. CEO Victor Lee highlighted the milestone in the company's restructuring efforts, aiming for a stronger focus on the high-value PV market.
Ascent Solar Technologies (OTCQB: ASTI) has been selected by NASA's Marshall Space Flight Center for participation in two significant flight demonstrations: the LISA-T project and the Solar Cruiser solar sail project. These initiatives aim to utilize Ascent's lightweight, flexible CIGS photovoltaic technology for various space missions, including CubeSats and future lunar and Martian explorations. Both projects will showcase the performance of Ascent's PV technology in space, potentially revolutionizing power generation for small spacecraft.