Ascent Solar projects sales of up to $40 million by 2027

THORNTON, Colo. - Ascent Solar Technologies (NASDAQ:ASTI), currently valued at $4.62 million market cap, announced projected sales figures of $5-20 million for 2026 and $25-40 million for 2027 in a corporate update published Wednesday. The company, which manufactures flexible CIGS thin-film photovoltaic solutions, based these estimates on current customer discussions and testing, noting that the figures do not reflect sales currently under contract. These projections come as InvestingPro data shows the company facing an 84.71% revenue decline over the last twelve months.

The update outlines Ascent’s strategy to capitalize on growth opportunities in the aerospace and space industries, highlighting the company’s competitive advantages and customer acquisition approaches in these markets.

"We are very proud of the technological and commercial progress achieved since our corporate restructuring in 2023," said Paul Warley, CEO of Ascent Solar Technologies. "In that short time our company has made remarkable efficiency improvements to our technology and processes." According to InvestingPro analysis, which offers 15 additional investment insights, the company maintains a weak financial health score of 1.04 and shows high price volatility with a beta of 2.1.

The company reported several recent milestones, including its solar modules flying on NASA’s LISA-T Mission, signing a collaborative agreement with NASA to advance thin-film PV power beaming capabilities, establishing a Master Services Agreement with NOVI, and forming teaming agreements with various organizations in the space and defense industries. With negative EBITDA of $7.74 million, these partnerships could be crucial for future growth. Discover more detailed financial metrics and analysis with InvestingPro.

Ascent Solar, which operates a 5-MW production facility in Thornton, Colorado, specializes in flexible thin-film solar panels designed for applications where weight, performance, and reliability are critical factors.

The projections come as the company aims to position itself in markets requiring durable solar solutions, particularly in space applications. According to the press release statement, Ascent has established the capability to fulfill orders within days and has provided test product samples to several companies for potential adoption.

In other recent news, Ascent Solar Technologies has embarked on a notable collaboration with NASA’s Marshall Space Flight Center and Glenn Research Center. This partnership is focused on developing beamed power technology using Ascent’s CIGS thin-film photovoltaic modules, which could potentially reduce the mass and volume requirements for spacecraft. In addition to the NASA collaboration, Ascent Solar has announced a $2 million public offering of common stock, with shares priced at $2.00 each, and warrants to purchase additional shares. The offering is anticipated to close by June 30, 2025, subject to customary closing conditions.

Furthermore, Ascent Solar has signed a Teaming Agreement with an unnamed U.S.-based defense provider to supply thin-film solar technology for orbital applications and future space missions. This agreement highlights the company’s ongoing efforts to expand its presence in the aerospace sector. The company’s facility in Thornton, Colorado, will produce the CIGS PV product line for these initiatives. These developments mark significant steps for Ascent Solar in advancing its technology and expanding its market reach.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.