Development of Sustainable Power Generation Technology; Including Spacecraft & Other Advanced Applications: NASDAQ: ASTI

Ascent Solar Technologies Inc. NASDAQ: ASTI

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New Collaborations Spark Innovation in Sustainable Power Generation Technology: Ascent Solar Technologies, Inc (NASDAQ: ASTI)

Ascent Solar Technologies, Inc (NASDAQ:ASTI)

Recent testing and results have consistently exceeded expectations and outperformed alternative solar technologies when comparing degradation from exposure to the space environment”

— Paul Warley, CEO of ASTI

THORNTON, COLORADO, UNITED STATES , May 16, 2024 / — New Collaborations for Development of Sustainable Power Generation Technology; Projects Include Spacecraft with Advanced Solar Technology, Other Applications in Industrial/Commercial Construction and Consumer Goods: Ascent Solar Technologies, Inc (NASDAQ: ASTI)

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 Leading Provider of Innovative, High-Performance, Flexible Thin-Film Solar Panel Technology.

 Specific Applications in Environments Mass, Performance, Reliability, and Resilience are Key Considerations.

 40 years of R&D, 15 years of Manufacturing, Numerous Awards, and a Comprehensive IP and Patent Portfolio.

 Products Used in Space Missions, Aircraft, Agrivoltaic Installations, Industrial/Commercial Construction, and Extensive Consumer Goods.

 Collaboration with the University of Stuttgart IGTE for the Development and Distribution of Sustainable Power Generation Technology.

 New Order of Thin-Film PV from Mega-Constellation Satellite Manufacturer to Power Next-Generation Hardware

 Partnership with Momentus Brings to Market Leading-Edge Solar Arrays.

 2024 Public Offering Launched for up to $6 Million Cash Infusion.

 Thin Film CIGS Technology Reached Record Power Generation of 14 Watts at Production Scale with Thin Film.

 Substantial Debt Reduction and Plan for Full Payoff.

Ascent Solar Technologies, Inc (NASDAQ: ASTI) is backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio. ASTI is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. ASTI photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. The ASTI research and development center and 5-MW nameplate production facility are strategically located in Thornton, Colorado.

Collaboration with the University of Stuttgart IGTE for the Development and Distribution of Sustainable Power Generation Technology

On May 16th ASTI announced it has begun developing prototype solar arrays in collaboration with the University of Stuttgart Institute for Building Energetics, Thermotechnology and Energy Storage (IGTE), an international research center focused on energy storage, renewable energies, and indoor climate technology.

Though the project details are not yet publicly available, ASTI will likely ship its ultralight, highly durable, and flexible thin-film technology this summer to meet IGTE’s timeline for developing its power collection and storage systems.

The IGTE mission is to “research and teach for comfortable living and working conditions in buildings and quarters in harmony with energy efficiency, sustainability, and technology. Particular emphasis is placed on renewable energies…and using top-tier scientists to develop sustainable solutions for the global transformation of energy systems.” Since its establishment in 2018 IGTE has continued to expand and develop innovative solutions for energy generation and storage with the intent for wide-scale distribution and adoption.

Order of Thin-Film PV from Mega-Constellation Satellite Manufacturer to Power Next-Generation Hardware

On May 14th ASTI announced it has received a firm order from a leading mega-constellation satellite manufacturer for initial delivery of PV modules for evaluation. The ASTI-delivered product will be extensively evaluated for incorporation into the manufacturer’s next-generation hardware.

Following delivery and the successful completion of the on-orbit technology for use in the target environment (low Earth orbit (LEO)), it is the intent of ASTI to design and manufacture Plug and Fly™ arrays in concert with the customer for delivery of these units as early as Q4 2024-Q1 2025. The arrays delivered will provide primary power to the next-generation satellites, significantly reducing part count, weight, and system complexity.

Ascent’s products represent a solution for customers and partners resulting from years of development and testing, including NASA’s MISSE-X experiment on the International Space Station (ISS), as well as advanced environmental testing conducted by the Japanese Aerospace Exploration Agency (JAXA). Recent testing and results have consistently exceeded expectations and outperformed alternative solar technologies when comparing degradation from exposure to the space environment.

Momentus Partnership Will Bring to Market Leading-Edge Solar Arrays

On April 17th ASTI and Momentus Inc. (NASDAQ: MNTS) announced a new partnership to jointly market leading-edge solar arrays utilizing the low-cost Tape Spring Solar Array (TASSA) being developed by Momentus and the high performance of the ASTI flexible, lightweight photovoltaic modules.

The rapid growth in the production and deployment of thousands of satellites in space has led to the burgeoning need for low-cost, reliable solar arrays with high performance. Momentus plans to add a high-power photovoltaic array as a differentiated feature of the next iteration of the TASSA product under development. Last year’s Pathfinder TASSA mission demonstration validated solar blankets from ASTI as a mass-efficient and robust power generation solution. Momentus plans to incorporate in TASSA new higher efficiency solar blankets from ASTI composed of space industry optimized Titan Modules, providing an even lower cost per kW of power.

ASTI Announces Pricing of Public Offering for Up to $6 Million Cash Infusion

On April 10th ASTI announced the launch of a “best efforts” public offering of gross proceeds of up to $6 million at a price of $0.14 per share of common stock. In lieu of Shares, investors can purchase one pre-funded warrant to purchase a Share. The pre-funded warrants are immediately exercisable at a price of $0.0001 per Share and only expire when such pre-funded warrants are fully exercised. Dawson James Securities, Inc. is acting as the exclusive placement agent for the offering.

CIGS Technology Power Generation Milestones at Production Scale with Thin Film

On Match 25th ASTI announced that its thin-film CIGS technology reached a record power generation of 14 watts at the production scale.

Since the installation of new leadership in April 2023, ASTI engineering and production teams have focused on improving their processes and chemical formulation, resulting in continuous increases in power generated from its innovative thin-film PV. The first in a series of milestones was initially announced on September 5, 2023, with subsequent improvements shared at regular intervals.

Using the AST Titan™ module to illustrate improvement, CIGS technology has steadily increased its power generation capabilities over the past seven months. The ASTI Titan™ module is approximately one square foot in size with a thickness of 0.03mm and a weight of just over eight grams.

Below are the recent calculations for power generation* at ASTI Titan™ module dimensions:

September 15, 2023, 11.6 watts

October 30, 2023, 13.1 watts

November 16, 2023, 13.3 watts

March 20, 2024, 14.0 watts

Note: Power generation figures reflect STC conditions and AM0

ASTI anticipates reaching its next milestone of 16 watts of output for the Titan™ module in the near term. The increases in power generation for its CIGS PV technology align with ASTI strategy and revenue goals for the 3rd and 4th quarters of 2024 and 2025, meeting the technological needs of ASTI customers in space to achieve end-of-life power.

Substantial Debt Reduction and Plan for Full Payoff

On March 21st ASTI provided a corporate update on the Securities Purchase Contract with two institutional investors previously disclosed on December 19, 2022.

It was reported that one institutional investor’s notes payable and related liabilities have been completely paid out and the remaining investor has been substantially paid off with an approximate remaining notes payable balance of $6,700 and an approximate $200,000 of payables outstanding. It is ASTI management’s intention to pay all remaining balances with this institutional investor upon completion of the next equity raise.


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Paul Warley, CEO of ASTI
Ascent Solar Technologies, Inc
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