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 has announced the appointment of Jeffrey Max as the new CEO, effective immediately. Max, a seasoned technology executive with over 30 years of experience, succeeds Victor Lee to lead the company through its transition as a newly listed entity on NASDAQ: ASTI. David Peterson, the new board chair, expressed confidence in Max's leadership, noting his expertise in technology and market growth. Max aims to drive Ascent's innovative thin-film photovoltaic solutions across various industries, leveraging a strong engineering team.
Ascent Solar Technologies, Inc. (NASDAQ: ASTI) has announced a leadership transition, appointing four new directors to its Board: Louis Berezovsky, Mike French, Felix T. Mantke, and Forest Reynolds. Their aim is to enhance the company's long-term revenue and business opportunities following its recent Nasdaq listing. Former CEO Victor Lee has resigned, and a search for a new CEO is underway. The company recognized its outgoing leaders for their contributions during challenging times. The new board members bring extensive experience in finance, aerospace, and business management.
Ascent Solar Technologies, Inc. (NASDAQ: ASTI) announced that President & CEO Victor Lee will present virtually at the H.C. Wainwright 24th Annual Global Investment Conference from September 12–14, 2022. The event will be held at the Lotte Palace Hotel in New York City, featuring over 500 company presentations available live and on-demand. Interested professional investors can register for the presentation through the conference link. The Company plans to release an updated corporate presentation on its website during the event.
Ascent Solar Technologies, Inc. (ASTI) has successfully completed a $5 million private placement as per the securities purchase agreement dated August 3, 2022. Following this, the company's common stock is set to commence trading on Nasdaq under the symbol 'ASTI' on August 24, 2022. This uplisting is viewed as a significant milestone after the company's dormant period in 2020. Management expresses optimism for future growth and wider market participation post-uplisting.
Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) announced the approval for its shares to be listed on the Nasdaq Capital Market, contingent on the closing of a $5 million private placement expected by August 24, 2022. This listing aims to enhance market participation and operational capabilities. President Victor Lee highlighted the listing as a pivotal step in the company's turnaround, with plans to ramp up production to meet increasing demand. The company has resumed operations after significant challenges in 2020.
Ascent Solar Technologies (ASTI) reported significant growth in net revenue for Q2 2022, which rose by 68% to $0.64M, and more than doubled to $1.2M for the first half, exceeding 2021's total revenue. The company successfully delivered a major contract for its lightweight HyperLight thin-film modules. Operating expenses increased by 62% to $5.7M, leading to a net loss of $6.6M, largely due to a non-cash interest expense. Following the reporting period, ASTI secured a $5M private placement, indicating strong investor interest.
Ascent Solar Technologies (OTCMKTS: ASTI) reported a 243% year-over-year increase in net revenue to $566k for Q1 2022. This growth was primarily fueled by $512k in non-recurring engineering fees. Despite the revenue boost, costs and expenses surged 102% to $2.8M, resulting in a loss from operations of $2.2M. The company recorded a net loss of $4.3M, influenced by a $2.1M non-cash interest expense. Cash reserves stood at $3M, while total liabilities decreased significantly from $16.3M to $8.8M. The management expressed optimism for future growth in the high-value photovoltaic market.
Ascent Solar Technologies (ASTI) reported significant growth in its 2021 financial results, achieving revenue of $608K, up 812% from 2020. Despite this growth, expenses rose 258% to $9.4M, leading to a net loss of $6M. The company improved its cash position from $0.17M to approximately $6M and reduced total liabilities by 43%, ending the year at $15.7M. Ascent has made strides in restructuring, securing financing, and entering key agreements that support its focus on high-value PV markets, particularly in aerospace and military applications.
Ascent Solar Technologies (OTCMKTS: ASTI) announced a partnership with Momentus to supply flexible CIGS photovoltaic modules for a demonstration project on the Vigoride spacecraft, set to launch in 2022. This project aims to validate Ascent's solar solutions for space applications, leveraging their lightweight and robust photovoltaic technology. The modules, designed for efficient space utilization, will support various future missions, positioning Ascent as a key player in the evolving commercial space market.
Ascent Solar Technologies (OTCMKTS: ASTI) announced a 1-for-5,000 reverse stock split effective January 28, 2022, at 5 p.m. ET. Following the split, shares will trade under temporary symbol 'ASTID' starting January 31, 2022, before reverting to 'ASTI' in 20 business days. Post-split, the number of outstanding shares will decrease from approximately 23.74 billion to about 4.81 million, and the authorized shares will reduce from 30 billion to 500 million. The reverse stock split aims to enhance the company's stock price and is part of prior board approvals in late 2021.
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