Ascent Solar Technologies Provides Corporate Update Detailing Customer Pipeline and Revenue Potential
08 Marzo 2024 - 4:00PM
Ascent Solar Technologies, (Nasdaq: ASTI) (“Ascent'' or the
“Company”), the leading U.S. innovator in the design and
manufacture of featherweight, flexible, and durable CIGS thin-film
photovoltaic (PV) solutions, today published a corporate update
detailing its customer and revenue potential, as well as its
strategy to meet growth opportunities in its two primary customer
verticals of aerospace and agrivoltatics. The published report can
be found here.
The report outlines revenue projects for the remainder of 2024,
including $1 million to $1.2 million in Q2; $3 million to $5
million in Q3; and $5 million to $7 million in Q4, totaling $9
million to $13.2 million for the entire year. Further, the Company
anticipates 2025 revenue reaching $50 million to $80 million. These
figures are estimated based on current customer discussions and
testing coupled with a rapidly growing market opportunity in
aerospace and photovoltaics, and does not reflect revenue under
contract.
The report also outlines the competitive advantages possessed by
Ascent, outlines the Company’s robust patent portfolio, and details
its customer-acquisition strategies within its respective market
focuses of aerospace and agrivoltaics it is already commercially
active in. This report follows Ascent’s February 2024 announcement
about its solar module products being selected to fly on NASA’s
upcoming Lightweight Integrated Solar Array and AnTenna (LISA-T)
mission, scheduled for launch this summer.
“Ascent is proud of the technological and commercial progress
achieved in less than a year following our corporate restructuring,
which is best reflected in our confidence in issuing this report,”
said Paul Warley, CEO of Ascent Solar Technologies. “We are
laser-focused on improving efficiency and reducing costs while
engaging some of the most prominent companies that represent our
ideal customer base. We look forward to continuing to benefit from
the support of our leadership, advisory board, and shareholder
base.”
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 4.5-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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