Ascent Solar Achieves Efficiency of 17.55% for CIGS Technology
October 30 2023 - 8:25AM
Ascent Solar Technologies, (Nasdaq: ASTI) (“ASTI” or the
“Company”), the leading U.S. innovator in the design and
manufacture of featherweight, flexible, and durable CIGS thin-film
photovoltaic (PV) solutions, announced today that the latest test
results of the Company’s proprietary CIGS technology show an in
efficiency increase from 15.5% to 17.55%, a milestone achievement.
In August 2023, the Ascent team began working diligently to
optimize both the manufacturing processes and chemistry of its CIGS
technology. This has resulted in a steady increase in efficiency
that began with a jump from 10.8% to 15.2% on September 5; an
additional increase to 15.5% on September 12; and now this
significant increase to 17.55% just six weeks later.
The latest efficiency increase can be attributed to the addition
of rubidium fluoride to the chemistry, combined with improvements
to Ascent’s manufacturing process. The improvements will result in
an increase in specific power in the space environment from 1900
W/kg to 2100 W/kg at AM0. This enables the solar energy system to
provide additional power with the same flexible, resilient and
lightweight footprint.
Ascent plans to further improve its CIGS technology efficiency
through incorporation of Zn(O,S), a thin film that is considered a
most promising candidate for a cadmium-free buffer layer, as
well as broader chemistry optimization. Utilizing Zn(O,S) increases
efficiency and specific power as it expands interactions with light
in the blue spectrum, as well as helps counter degradation through
improvements after light soak.
“We have now reached the minimum efficiency (17%) that many
satellite companies require, a milestone achievement for our team
and a critical step toward commercialization for our space product
development program,” said Paul Warley, CEO of Ascent Solar
Technologies. “We are well positioned for adoption as one of the
most flexible, light and suitable solar solution to reduce waste in
space.”
ABOUT ASCENT SOLAR TECHNOLOGIES, INC.
Backed by 40 years of R&D, 15 years of manufacturing
experience, numerous awards, and a comprehensive IP and patent
portfolio, Ascent Solar Technologies, Inc. is a leading provider of
innovative, high-performance, flexible thin-film solar panels for
use in environments where mass, performance, reliability, and
resilience matter. Ascent’s photovoltaic (PV) modules have been
deployed on space missions, multiple airborne vehicles, agrivoltaic
installations, in industrial/commercial construction as well as an
extensive range of consumer goods, revolutionizing the use cases
and environments for solar power. Ascent Solar’s research and
development center and 5-MW nameplate production facility is in
Thornton, Colorado. To learn more,
visit https://www.ascentsolar.com or follow the Company
on LinkedIn and X (formerly Twitter).
FORWARD-LOOKING STATEMENTS
Statements in this press release that are not
statements of historical or current fact constitute
"forward-looking statements" including statements about the
financing transaction, our business strategy and the potential uses
of the proceeds from the transaction. 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. We have based these forward-looking
statements on our current assumptions, expectations and projections
about future events. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to
consider statements that contain terms such as “will,” "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
including those discussed under the heading "Risk Factors" in our
most recently filed reports on Forms 10-K and 10-Q.
MEDIA CONTACT
Spencer HerrmannFischTank PRascent@fischtankpr.com
INVESTOR CONTACT
ir@ascentsolar.com
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