Ascent Solar Technologies Details Financial and Industry Status After Reverse Stock Split
13 Agosto 2024 - 3:45PM
Ascent Solar Technologies (“Ascent” or the “Company”) (Nasdaq:
ASTI), the leading U.S. innovator in the design and manufacturing
of featherweight, flexible thin-film photovoltaic (PV) solutions,
today commented on its positioning withing the solar industry after
its previously-announced reverse stock split, which takes effect
before market open on August 15, 2024.
“By effecting the reverse stock split, we believe we have better
positioned the company to succeed moving forward both in the near
and long term. We have amassed enough liquidity to continue
operations well into the first quarter of 2025, an important factor
as we continue to pursue strategic partnerships and customer
engagements within key industry verticals including space and
aerospace,” said Paul Warley, CEO of Ascent Solar Technologies.
“As interest in solar technologies continue to grow throughout
the space and aerospace industries, we believe Ascent’s thin-film
solar PV technologies present a highly viable product offering that
is ready for efficient application across multiple high-growth
verticals. We have continued to expand our new business pipeline,
while also achieving dramatic advancements in in our technology
over the last year – both of which we see as positives for
potential customers, as well as our current and prospective
investors.”
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
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 HerrmannFischTank PRascent@fischtankpr.com
Ascent Solar Technologies (NASDAQ:ASTI)
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Ascent Solar Technologies (NASDAQ:ASTI)
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