Ascent Solar: Preliminary Q4 and full year revenue results
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THORNTON, Colorado - Ascent Solar Technologies, Inc. (NASDAQ: ASTI), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company's EnerPlex™ series of consumer products, announced the Company has achieved a major breakthrough in power-to-weight ratio for its superlight solar module, delivering over 1700 watts of power per kilogram, operating at AM0, technically known as the space environment. At this performance, Ascent's superlight module would weigh 66% less than a comparable PV system using the highest-quality crystalline silicon and with far less design complexity. The elimination of two-thirds of the weight is a critical improvement for satellites, space vehicles and space stations.
For space and near-space applications, power-to-weight ratio is a key performance metric. In addition to simplicity, our modules could dramatically impact cost. Depending on the application, such as low earth orbit all the way to manned flights, including contemplated missions to Mars, the fully burdened cost can be anywhere from thousands of dollars to $1 Million per pound for a space launch. By creating this superior module with the best power-to-weight ratio of any available product, Ascent has enabled entrance into the rapidly growing space and near space markets.
"There are several exciting aspects of this major breakthrough that make it significant for Ascent Solar," stated Dr. Joseph Armstrong, co-founder and CTO of Ascent Solar Technologies. "Ascent's proprietary technology and unique manufacturing approach is ideally suited for space and near-space applications, as we are the only producer that utilizes both flexible copper-indium-gallium-selenide (CIGS) PV and monolithic integration. Our flexible substrate is the lightest of any in production, and monolithic integration results in a cell layout that is ideal for high intensity sunlight found in the space environment. Additionally, our modules can dramatically reduce the part count by over 90% compared to existing space solar array construction, thereby making assembly of large solar arrays for space and near-space applications easier, more cost effective, and more reliable." Dr. Armstrong continued, "While the design specifications for the modules were optimized for the space environment, they will be very useful for other applications such as unmanned aircraft, drones, as well as other terrestrial applications."
Victor Lee, President and CEO of Ascent Solar, commented, "This tremendous achievement will help accelerate the roll out of our space and near-space PV applications with agencies with whom we have been working. Additionally, we believe there are several private organizations, both domestic and international, with ambitions in space and near-space markets that would be keenly interested in our superior power-to-weight ratio photovoltaics. This technical achievement is a testament to our strategic shift in market focus since 2012 and will continue to open up new and valuable premium market opportunities for Ascent, enabling the sale of very high margin products."
About Ascent Solar Technologies and EnerPlex:
Ascent Solar Technologies, Inc. is a developer of award winning thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. EnerPlex is the Company's brand of consumer products and is a division of Ascent Solar. Ascent Solar and EnerPlex are headquartered in Thornton, Colorado. For more information, go to www.goenerplex.com and www.ascentsolar.com.