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Ascent Solar

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Ascent Solar Technologies, Inc.
Company typePublic
Nasdaq: ASTI
IndustryPhotovoltaics, solar energy
Founded2005; 19 years ago (2005)
Headquarters
Thornton, Colorado
,
United States
Key people
Paul Warley (CEO)[1]
RevenueIncreaseUS$7 million (2013)[2]
DecreaseUS$-6M (2013)[2]
DecreaseUS$−$6 million (2013)[2]
Total assetsDecreaseUS$61.4 million (2013)[2]
Total equityDecreaseUS$50.0 million (2013)[2]
Number of employees
150 (YE 2013)[2]
Websitewww.ascentsolar.com

Ascent Solar Technologies, Inc. is a publicly traded photovoltaic (PV) company located in Thornton, Colorado. Its primary product is a flexible CIGS solar cell on a plastic substrate.

Technology

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Ascent Solar's thin-film solar modules are manufactured from CIGS cells using copper indium gallium (di)selenide semiconductor (CIGS), which has shown a 10.5% NREL efficiency in real-world conditions. What makes this proprietary technology unique, however, is its relative size, weight and flexibility: Ascent's CIGS panels currently allow for 85 watts/meter, and 48 watts/kg, thereby giving them the greatest power density and weight ratio among available flexible photovoltaic products[3] by a significant margin. This allows for the efficient use of solar power in a range of new contexts, in which size or weight restrictions have previously rendered solar power impracticable: e.g., cell phones, airplanes, unmanned vehicles, consumer electronics, railways, space programs, and off-grid applications. This developing technology was selected as one of the "100 Most Innovative Technologies for 2010" by R&D Magazine,[4] and as one of the "50 Best Inventions of 2011" by Time magazine.[5]

Market history

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Ascent Solar entered the manufacturing stage for its products in 2013, in part by teaming up with a range of other companies like TFG Radiant (for integrating these materials into a range of building and construction materials), Foxconn (for a "pilot project" at the Zhengzhou factory, which was then manufacturing the iPhone 5),[6] and Bye Aerospace (for solar-powered unmanned aircraft).[7]

Consumer products

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In June 2012 Ascent Solar launched the EnerPlex consumer brand and their first product, a solar power enabled phone case for iPhone 4.[8] In October 2013 the company expanded beyond phone chargers and introduced the Packr solar enabled backpack.[9]

In October 2016 the Association of Marketing & Communication Professionals (AMCP) recognized the EnerPlex brand with 3 MARCOM awards for excellence in retail marketing.[10]

On February 27, 2017, Ascent Solar announced that it had sold the EnerPlex brand and all related non-solar intellectual property rights to Hong Kong–based Sun Pleasure Co. Ltd in order to "focus on its core strength in the high-value specialty PV market".[11]

Corporate history

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Ascent Solar was founded in 2005 by ITN Energy Systems, a company engaged in commercializing emerging energy technologies through spin-offs and joint ventures.[12] During the first few years of operation, its primary focus was developing CIGS thin-film technology and efficient methods of manufacturing it.[13][14]

On July 18, 2006, Ascent completed its IPO, releasing 3,000,000 shares at $5.50 per share.[15] In June 2007, Norsk Hydro ASA, a Norwegian based supplier of aluminum products, entered into a deal with Ascent whereby it purchased 23% of Ascent shares with the option to increase that stake to up to 35%, which it did on October 7, 2008. On September 22, 2008, Ascent's then CEO, Matthew Foster, stepped down from his position. His reason for doing so was cited as an agreement between him and the company as the company changed from research-driven to production-driven. He will remain with Ascent as a consultant for an additional year after his retirement date.[16] On March 11, 2009, Ascent Solar commenced regular production at their facility in Colorado. The company began with a one-shift production schedule. In September 2022, the company announced Jeffery Max as new CEO[17]

In April 2023, Ascent announced they will be acquiring Flisom AG, a developer of lightweight flexible thin film solar modules based in Zurich, Switzerland.[18]

See also

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References

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  1. ^ "Ascent Solar Names Jeffrey Max as New Chief Executive Officer - September 27, 2022". investors.ascentsolar.com. Retrieved March 9, 2022.
  2. ^ a b c d e f "Ascent Solar 2011 Annual Report - Form 10-K - March 22, 2012" (PDF). Secdatabase.com. Retrieved May 17, 2012.
  3. ^ [1] [dead link‍]
  4. ^ "2010 R & D 100 Award Winners". Rdmag.com. July 7, 2010. Retrieved July 18, 2018.
  5. ^ "The 50 Best Inventions". Time. 28 November 2011. Archived from the original on November 18, 2011.
  6. ^ Goossens, Ehren (August 6, 2012). "Ascent Solar to Supply Panels to IPhone Maker Foxconn". Bloomberg.
  7. ^ [2] [dead link‍]
  8. ^ "Apple iPhone charged up by Ascent Solar CIGS power - News". Compound Semiconductor. Retrieved 2023-04-19.
  9. ^ "Ascent Solar Announces Debut of EnerPlex Packr, Solar Integrated Backpack". www.businesswire.com. 2013-10-17. Retrieved 2023-04-19.
  10. ^ "Ascent Solar's EnerPlex Recognized for Excellence in Marketing; Wins 3 MARCOM Awards from Association of Marketing & Communication Professionals". www.canadianinsider.com. Retrieved 2023-04-19.
  11. ^ NewMediaWire (2017-02-27). "Ascent Solar Signs Major Agreement with Hong Kong Based Consumer Goods Supplier". GlobeNewswire News Room. Retrieved 2023-04-19.
  12. ^ "ITN Energy Systems Main Page". ITN Energy Systems. Archived from the original on November 3, 2008. Retrieved October 8, 2008.
  13. ^ "Ascent Solar: Main Page". Ascent Solar Technologies. Archived from the original on October 19, 2006. Retrieved October 8, 2008.
  14. ^ "Investor Relations:Company Overview". Retrieved 2 Jun 2022.
  15. ^ "Reuters: Ascent Solar Technologies - Key Developments". Reuters. p. 5. Archived from the original on November 13, 2012. Retrieved October 8, 2008.
  16. ^ "Ascent Solar President and CEO Foster Resigns". Forbes. September 22, 2008. Archived from the original on September 26, 2008. Retrieved October 8, 2008.
  17. ^ mag, solarindustry. "Ascent Solar Brings in Jeffrey Max as New CEO".
  18. ^ "Ascent Solar Technologies, Inc. Accelerates Global Expansion Through Completed Acquisition of Swiss Thin-Film Solar Manufacturing Equipment". April 18, 2023. Retrieved 30 April 2023.
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