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Investing.com -- Ascent Solar Technologies Inc (NASDAQ:ASTI) stock surged 8.7% in premarket trade Wednesday following the announcement of a strategic partnership with Defiant Space Corporation to pursue opportunities in the U.S. defense and national security sectors.
The collaboration will combine Ascent’s space-proven flexible thin-film photovoltaic technology with Defiant’s capabilities in developing mission-focused space solutions. The partnership aims to address growing demand for resilient, cost-effective capabilities supporting defense and security objectives.
Beyond the U.S. market, the companies plan to explore opportunities across allied and international space markets, including NATO and Five Eyes partner nations. This expansion strategy leverages Defiant’s strategic relationships alongside Ascent’s proprietary thin-film solar technology.
"Partnering with Defiant neatly aligns with Ascent’s mission to deliver lightweight, flexible and highly durable solar solutions to the most demanding markets," said Paul Warley, CEO of Ascent Solar Technologies.
Jeromy Grimmett, Chief Strategy Officer of Defiant Space, noted: "By working with Ascent Solar, we can advance innovative technologies that align with critical mission needs while also creating new opportunities abroad for U.S.-developed space capabilities."
The partnership positions both companies to capitalize on what they describe as the rapidly expanding global space economy, which is projected to reach $1 trillion by 2040.
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