THORNTON, Colo., Dec. 21, 2023 (GLOBE NEWSWIRE) — Ascent Solar Technologies, (Nasdaq: ASTI) (“ASTI” or the “Company”), the leading U.S. innovator in the design and manufacture of featherweight, flexible, and durable CIGS thin-film photovoltaic (PV) solutions, announced today that the Company has achieved spaceflight heritage for its space PV array products manifested on the Momentus Vigoride-6 mission. The assembly flown was composed of ASTI’s Plug & Fly™ solar panels, consisting of thin-film modules that were integrated into Momentus’s Tape Spring Solar Array (TASSA), which recently completed initial in-space testing.
Beyond establishment of NASA Technology Readiness Level 9 (TRL9) for the Company’s products, this achievement also validates Ascent’s CIGS material, manufacturing, integration, and quality processes, representing a significant milestone for its space solutions. Ascent’s bare PV modules have operated as expected in the space environment since being deployed, while this on-orbit demonstration verifies and builds upon the positive results of the MISSE-X experiment with NASA on the ISS. This milestone further validates the robustness of the Company’s portfolio of CIGS intellectual properties for space applications.
The Company is continuing to focus its next generation of higher efficiency lightweight products optimized for the orbital environment. Ascent’s Titan Space HDK line of products are derived from the subscale PV modules flown on Vigoride-6 and will provide even more spacecraft mass, cost, and schedule savings to mission managers with multiple megawatts of capacity still available for deliveries in 2024.
“This demonstration validates Ascent as a leader in space sustainability, and is reflective of the tremendous market opportunity we continue to pursue,” says Paul Warley, CEO of Ascent Solar Technologies. “We’ve also now proven that our power generation solutions available today are aligned with the European Space Agency’s Zero Debris Charter. Ascent’s Space HDK line of products are engineered to be resilient enough that if impacted and penetrated by space debris, the array can continue to generate power while not creating additional debris. Ultimately, this drastically lowers mission risks for spacecraft specifying flexible thin-film power generation capabilities like Ascent’s, which are poised to be one of the technologies that will enable the preservation of the global commons of Earth’s orbits as they grow increasingly more crowded and trafficked.”
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 or follow the Company on LinkedIn and X (formerly Twitter).
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
spencer@fischtankpr.com
INVESTOR RELATIONS
ir@ascentsolar.com
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