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Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state-of-the-art flexible thin-film solar modules, today announced that it has achieved its initial target module efficiency goal of 10.0% for its flexible Copper, Indium, Gallium, Selenide (CIGS) monolithically integrated modules.
The U.S. Department of Energy's National Renewable Energy Laboratory (NREL) has independently verified that the modules measured as high as 10.4% in conversion efficiency. The modules tested at NREL were standard 429 cm2 modules produced by the company's 1.5MW production line that was put into commercial production in the first quarter of 2009.
Dr. Prem Nath, Sr. Vice President of Production Operations for Ascent Solar, stated, "This is a significant breakthrough in demonstrating our ability to manufacture monolithically integrated flexible CIGS modules with greater than 10% module efficiency in commercial production. Ascent's high-volume 30MW commercial plant is scheduled to commence initial production at the beginning of 2010. Module efficiency of 10.0% is a vital element for our low-cost-per-watt manufacturing goal in high volume and will establish Ascent Solar as a leader in the production of lightweight flexible photovoltaics used for portable power and building integrated photovoltaic (BIPV) products."
Dr. Harin S. Ullal, Senior Project Manager for the National Center for Photovoltaics at the National Renewable Energy Laboratory, stated, "Ascent Solar has made progress in advancing the state-of-the-art flexible, lightweight thin-film CIGS PV technology. NREL has independently verified module conversion efficiency of more than 10.0% for several thin-film CIGS monolithically integrated modules deposited on flexible, lightweight plastic substrates."
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. 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.
About Ascent Solar
Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, space applications, consumer electronics for portable power or configured as stand-alone modules for large-scale terrestrial deployment. Ascent Solar is headquartered in Thornton, Colo.
About National Renewable Energy Laboratory:
The National Renewable Energy Laboratory (NREL) is the nation's primary laboratory for renewable energy and energy efficiency research and development (R&D). NREL is operated for the U.S. Department of Energy by The Alliance for Sustainable Energy, LLC.
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For Ascent Solar Technologies, Inc.
Brian Blackman, 832-515-0928 (Investor Relations)
Brand Fortified Public Relations
Kelly Brandner, 303-289-4303 (Media)
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