Ascent Solar

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.

Ascent Solar Technologies,
Public (OTCQB: ASTI)
IndustryPhotovoltaics, Solar energy
Founded2005
Headquarters
Thornton, Colorado
,
United States
Key people
Kong Hian Lee, CEO
RevenueUS$7 million (2013)[1]
US$-6M (2013)[1]
US$−$6 million (2013)[1]
Total assetsUS$61.4 million (2013)[1]
Total equityUS$50.0 million (2013)[1]
Number of employees
150 (YE 2013)[1]
Websitewww.ascentsolar.com

Technology

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[2] 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,[3] and as one of the 50 Best Inventions of 2011 by Time Magazine.[4]

Market history

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 is currently manufacturing the iPhone 5),[5] and Bye Aerospace (for solar-powered unmanned aircraft).[6]

It has also launched in 2013 the Enerplex brand. EnerPlex represents the consumer side of Ascent Solar.

EnerPlex

EnerPlex is a brand of solar and electronic consumer products launched by Ascent Solar, Inc.[7] Unlike traditional glass backed panels, the panels integrated into all EnerPlex products are monolithically integrated on plastic (not glass) substrate.

Corporate history

Ascent Solar was founded in 2005 by ITN Energy Systems, a company engaged in commercializing emerging energy technologies through spin-offs and joint ventures.[8] During the first few years of operation, its primary focus was to research the CIGS thin-film technology as well as researching efficient methods for manufacturing.[9]

On July 18, 2006, Ascent completed its IPO, releasing 3,000,000 shares at 5.50 USD per share.[10] 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.[11] On March 11, 2009, Ascent Solar commenced regular production at their facility in Colorado. The company began with a one-shift production schedule.

See also

References
  1. "Ascent Solar 2011 Annual Report - Form 10-K - March 22, 2012" (PDF). Secdatabase.com. Retrieved 2012-05-17.
  3. "2010 R & D 100 Award Winners". Rdmag.com. 7 July 2010. Retrieved 18 July 2018.
  4. "The 50 Best Inventions". Time. 2011-11-28.
  5. Goossens, Ehren (2012-08-06). "Ascent Solar to Supply Panels to IPhone Maker Foxconn". Bloomberg.
  7. Cardwell, Diane. "Solar Chargers Advance in Mobile Device Market". Nytimes.com. Retrieved 18 July 2018.
  8. "ITN Energy Systems Main Page". ITN Energy Systems. Archived from the original on 3 November 2008. Retrieved 2008-10-08.
  9. "Ascent Solar: Main Page". Ascent Solar Technologies. Archived from the original on 2006-10-19. Retrieved 2008-10-08.
  10. "Reuters: Ascent Solar Technologies - Key Developments". Reuters. p. 5. Archived from the original on 2012-11-13. Retrieved 2008-10-08.
  11. "Ascent Solar President and CEO Foster Resigns". Forbes. 2008-09-22. Archived from the original on 26 September 2008. Retrieved 2008-10-08.
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