Ascent Solar Completes Delivery of Another Major Contract and Announces Improved Second Quarter and First Six-Months Financial Results for 2022
THORNTON, CO, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Ascent Solar Technologies, Inc. (“Ascent Solar” or the “Company”) (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight, flexible thin-film photovoltaic (PV) solutions, reported results for the quarter and first six-months ended June 30, 2022.
Financial & Operational Highlights:
“I am extremely pleased with the progress of the company, both financially and operationally.” said Mr. Victor Lee, President and CEO of Ascent Solar Technologies, Inc. “After being dormant for most of 2020, we began rebuilding and ramping up operations in October 2020. Despite setbacks caused by various challenges including limited financial resources and the ongoing impact of COVID-19, the Ascent team has demonstrated great resiliency in getting back to regular production mode. The company is now fully operational and stands ready to build on the strength of what we have achieved in the first six-months of 2022. We will continue to deliver improved results going forward,” continued Mr. Lee.
Mr. Lee concluded, “The emergence and fast-growth of the space-based economy in recent years as well as the ever-increasing demand in mobility power and clean energy, align well with our unique value proposition and ambitions. The Company has made significant progress in the high-value space and near-space markets, and will continue to focus in such areas where Ascent is truly at the forefront of the competition. Most notably, Ascent’s thin-film modules were selected and launched by NASA Marshall Space Flight Center to the International Space Station (November 17, 2018) as part of the MISSE-X flight experiment, and were recognized for its exceptional device stability during the space flight experiments and also received the Innovation Award at the Defense TechConnect Conference in September 2021. The Company was also selected by NASA for further participation in two upcoming flight demonstrations – the LISA-T (Lightweight Integrated Solar Array and anTenna) project and the Solar Cruiser solar sail project slated for launch in 2023. Other notable milestones include our continuous development effort with JAXA (Japan Aerospace Exploration Agency)’s SolarPowerSail project utilizing Ascent’s superlight thin-film modules, as well as multiple other private companies’ selection of our PV technology for further testing and evaluation for deep space or near-space missions. We are optimistic and certainly look forward to stronger years ahead, as we begin to execute our focused strategy in this premium PV market.”
Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies by R&D Magazine, and one of TIME Magazine's 50 best inventions. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado. More information can be found at www.AscentSolar.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.
Ascent Solar Technologies
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