Ascent Solar Technologies, Inc. Increases Cell Production Efficiency in Production Trials from 10.8% to 15.2% for its CIGS Solar Technology

Rhea-AI Summary

Ascent Solar achieves cell production efficiency of 15.2% in its CIGS solar technology, with potential for 16% to 16.4% efficiency using next-generation material. Company anticipates increased commercial adoption and expansion into new markets.

Positive

• Ascent Solar achieves significant increase in cell production efficiency
• Potential for higher efficiency with next-generation material
• Anticipates increased commercial adoption and expansion into new markets

Negative

• None.

The thin-film solar provider’s efficiency improvements are intended to drive wider adoption of powerful, flexible solar PV across several industries and applications

THORNTON, Colo., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Ascent Solar Technologies, Inc. (NASDAQ: ASTI) (“ASTI” or the “Company”), the leading U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, announced today that it has achieved cell production efficiency of 15.2% in its CIGS solar technology, a significant increase from the 10.8% standard efficiency measured for production material in 2012. This increase is attributed to the targeted optimization of the existing Cadmium Sulfide (Cds) deposition and manufacturing processes behind the Company’s CIGS technology.

Parallel development efforts have been successful in the replacement of the Cds deposition in the production process. Cds is a known harsh material, which ASTI has strategically sought to shift away from, to limit hazardous production components and eliminate the need for specialty waste mitigation processes.

The preliminary efficiency measurements of this next generation material (which utilizes Zinc Oxysulfide in lieu of Cds) indicate that yields are 5% to 8% higher than that of Cds, which would translate to a theoretical efficiency of 16% to 16.4%. With continued promising results such as these production trials, the Ascent team is redefining what is possible for thin-film CIGS technology efficiencies through consistent ongoing process optimization, guided by decades of manufacturing experience.

“We’re thrilled with the recent achievements in process optimization for our CIGS technology, an innovation in thin film PV that we believe positions us for increased commercial adoption,” said Paul Warley, Chief Executive Officer of Ascent Solar Technologies. “With continued increases in efficiency, we anticipate expanding sales into both new and existing markets, and meeting the ever-increasing demand for solar power in targeted specialty applications.”

These efficiency improvements reflect the confidence in Ascent’s product portfolio, as well as the brand’s strategic direction, growth opportunities, and leadership to execute upon its vision. The Company remains committed to the advancement and proliferation of solar technology-based solutions using thin-film technology to create sustainable solutions and drive a positive environmental impact.

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

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Media Contact

Spencer Herrmann
FischTank PR
ascent@fischtankpr.com

Investor Contact

James Masters
Vallum Advisors
ir@ascentsolar.com