Ascent Solar to Pursue Multiple Federal Funding Opportunities for Allocation in 2024
03 Diciembre 2023 - 6:00PM
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 is
pursuing several opportunities for federal funding through the
Department of Energy (DOE) and the Small Business Administration,
with determination and allocation scheduled for 2024.
With applications and concept papers submitted
and well-received in Q4 2023, Ascent is prepared to lead
groundbreaking research primarily in agrivoltaics and on-orbit
manufacturing, as well as the development and manufacturing of
advanced solar cells should the proposals be selected for funding.
The Company plans to do this both individually as well as in
partnership with like-minded industry players whose technologies
and manufacturing processes complement Ascent’s own unique
capabilities. These and other partnerships discussions are already
underway.
As encouraged by the DOE, Ascent applied for
Silicon Solar Manufacturing and Dual-Use Photovoltaics Incubator
program funding on November 14, 2023, for the development of its
innovative agrivoltaic technology that would bring solar power to
more remote areas around the world and optimize dual land use. The
Company has also been encouraged by the DOE to further submit for a
Solar Energy Technologies Office Funding Notice: Advancing U.S.
Thin-Film Solar Photovoltaics, as part of a team, for advanced PV
research and development that would enable future
commercialization.
“We’ve very optimistic about our recent
technological breakthroughs and the increased research and
commercialization opportunities that would come with the selection
of our funding applications to these organizations,” said Paul
Warley, CEO of Ascent Solar Technologies. “Further funding through
programs such as the Office of Energy Efficiency & Renewable
Energy FOAs and SBIR grants would allow greater opportunities for
the Ascent team to advance our cutting edge technologies and drive
revenue. Thin-film is uniquely capable of achieving federal agency
goals of innovative solar technology adoption to drive
electrification and decarbonization of the energy sector.”
Ascent has a rich history of working with U.S.
agencies for the development of solar capabilities, as well as deep
research of CIGS technology performance in unique environments.
Past programs and partners include National Aeronautics and Space
Administration (NASA), Airforce Research Laboratory (AFRL),
Department of Energy, Defense Advanced Research Projects Agency
(DARPA), the U.S. Navy, and participation in several Small Business
Innovation Research projects.
Ascent is well positioned in 2024 to lead and
partner in federally funded research to further advance and
commercialize innovative solar technologies. With significant
efficiency improvements realized in Q4 of 2023 up to 17.72%, and
additional technological development underway, Ascent has dedicated
its 4.5MW facilities to large scale production of superior
thin-film technology.
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 4.5-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 CONTACTSpencer HerrmannFischTank
PRascent@fischtankpr.com
INVESTOR CONTACTJames MastersVallum
Advisorsir@ascentsolar.com
Ascent Solar Technologies (NASDAQ:ASTI)
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