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THORNTON, Colo. - Ascent Solar Technologies, Inc. (NASDAQ: ASTI), a U.S.-based innovator in lightweight, flexible thin-film photovoltaic (PV) solutions, has completed the delivery of its spaceflight-ready PV blankets to a major European space systems provider. These advanced solar arrays are expected to be launched into space later this year. According to InvestingPro data, the micro-cap company, currently valued at $2.37 million, is working to reverse its 90% year-over-year revenue decline while maintaining a healthy cash position relative to its debt.
The PV blankets, designed with rollable Copper Indium Gallium Selenide (CIGS) technology, meet the demanding specifications for space applications, including strict mass and volume constraints. Ascent’s products are known for their ability to be rapidly customized, which was a critical factor in meeting the partner’s four-week deadline for tough mission requirements. Despite the company’s technological capabilities, InvestingPro analysis indicates significant challenges, with the stock down 45% year-to-date and trading at $1.53, though current valuations suggest the stock may be undervalued.
Paul Warley, CEO of Ascent Solar Technologies, noted the significance of the delivery, stating, "Opportunities like this will be instrumental as we continue to expand our presence in Europe’s growing space market." He highlighted the company’s ability to swiftly tailor their technology for specific mission needs.
Ascent Solar’s space-proven, high-Technology Readiness Level (TRL) solar array products benefit from the company’s 5 MW production facility and efficient manufacturing processes. This partnership allows the European space systems provider to capitalize on Ascent’s expertise, aiming to reduce mission risk and cost.
The company’s Hardware Developer Kit program is anticipated to provide qualification test and operational data from spaceflight to prospective customers, enhancing the accessibility and application of Ascent’s solar array hardware assemblies.
Ascent Solar, with a heritage of 40 years of R&D and 15 years in manufacturing, has a broad portfolio of PV modules used in various sectors, including space missions, airborne vehicles, agrivoltaic systems, and consumer goods. The company operates its R&D center and manufacturing facility in Thornton, Colorado.
The information presented in this article is based on a press release statement from Ascent Solar Technologies.
In other recent news, Ascent Solar Technologies has received a new order to redesign its space solar products, emphasizing its Copper Indium Gallium Selenide (CIGS) photovoltaic modules. These modules have been validated through third-party testing for their suitability in receiving beamed power, a method of transmitting energy through space. The company has already developed a prototype optimized for beamed power and is working on further design enhancements. Ascent Solar’s manufacturing facility in Thornton, Colorado, is capable of rapidly iterating product designs, highlighting its readiness to meet the growing demand for space-based solar power solutions.
In another development, Ascent Solar has made significant changes to its corporate bylaws, as disclosed in a recent SEC filing. The amendments aim to streamline the company’s stockholder meeting process by reducing the quorum necessary for meetings from a majority to one-third of the voting power of outstanding shares. This adjustment addresses past difficulties in reaching a quorum due to the dispersed nature of the company’s stockholder base. Additionally, the bylaws now clarify voting standards when multiple classes of voting shares are present, ensuring accurate and equitable representation in stockholder decisions. These changes reflect Ascent Solar’s proactive approach to corporate governance and stockholder engagement.
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