Ascent Solar Technologies Inc. Achieves Spaceflight Heritage for its Space Solar PV Array Products on Momentus’ Vigoride-6 Mission
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Insights
Ascent Solar Technologies' announcement of achieving spaceflight heritage for its solar PV array products is a significant development in the aerospace sector, particularly for the space-based solar power market. The success of the Momentus Vigoride-6 mission, which utilized Ascent's Plug & Fly™ solar panels integrated into the Tape Spring Solar Array (TASSA), serves as a proof of concept for the company's Copper Indium Gallium Selenide (CIGS) thin-film photovoltaic technology.
This milestone not only demonstrates the viability of Ascent's products in the harsh space environment but also establishes the company's ability to meet NASA's Technology Readiness Level 9 (TRL9), a critical indicator of technology maturity for space applications. The implication for stakeholders is the potential for increased market share in the space solar power industry, as Ascent's products align with the growing demand for sustainable and reliable energy solutions in space.
Furthermore, the company's focus on the next generation of higher efficiency lightweight products, such as the Titan Space HDK line, indicates a strategic move to capitalize on spacecraft mass, cost and schedule savings. The availability of these products for delivery in 2024 could position Ascent as a go-to supplier for upcoming space missions, potentially impacting the company's financial performance positively in the medium to long term.
The technological achievement by Ascent Solar Technologies has potential financial implications for the company's performance. Achieving Technology Readiness Level 9 (TRL9) signifies that Ascent's products are not only viable but are also ready for full-scale deployment, which could lead to increased contracts and partnerships with space agencies and private space firms.
Ascent's alignment with the European Space Agency’s Zero Debris Charter could be a differentiator in the market, potentially leading to a competitive advantage in the European space market. This adherence to sustainability standards is likely to resonate with stakeholders and investors who are increasingly conscious of environmental impact and sustainability practices.
Given the company's announcement of availability for multiple megawatts of capacity in 2024, investors might anticipate an increase in order backlog, which could be a positive indicator for future revenue growth. This news could potentially influence the company's stock performance in the short term due to investor optimism, while the long-term impact would hinge on the company's ability to capitalize on this technological validation and convert it into commercial success.
The integration of Ascent's thin-film CIGS technology into the space sector represents a notable advancement in space power generation. The robustness of Ascent's solar panels, as evidenced by their performance on the Momentus Vigoride-6 mission, indicates that these panels can withstand the rigors of space, including extreme temperature fluctuations and radiation exposure.
The ability of these panels to continue generating power even after being impacted by space debris addresses a critical concern in space operations—sustainability and safety amidst the increasing amount of debris in Earth's orbits. This feature is not only technically impressive but also aligns with global efforts to preserve the space environment.
The mention of Ascent’s products being optimized for the orbital environment suggests ongoing research and development to improve efficiency and performance in space conditions. For stakeholders, this indicates a commitment to innovation and could signal future growth potential as space exploration and commercialization continue to expand.
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.
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