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Ascent Solar Technologies, Inc. is a publicly traded solar energy company located in Littleton Colorado. Its primary product is a flexible thin film photovoltaic material on a plastic substrate. These thin-film solar modules are manufactured using copper indium gallium (di)selenide (CIGS), which has shown a 19.5% NREL efficiency in real-world conditions, slightly above CdTe and significantly above amorphous silicon. Ascent is focusing primarily on space, near-space and terrestrial applications for their solar products. [2]
Ascent Solar was founded in 2005 by ITN Energy Systems, a company engaged in commercializing emerging energy technologies through spin-offs and joint ventures.[3] 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. Currently, Ascent is focusing on entering its production phase with the construction of its second-generation roll-to-roll production plant which will begin manufacturing product in 2008. [4]
On 18 July 2006, Ascent completed its IPO, releasing 3,000,000 shares at 5.50 USD per share.[5] 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 7 October 2008. Ascent has also entered into research and production deals with Texsa S.A., a Spanish roofing company along with other companies. Ascent has also partnered with the U.S. Air Force on several different research and development contracts. [6]
On 22 September 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.[7]
On March 11, 2009, Ascent Solar commenced regular production at their facility in Colorado. The company began with a one-shift production schedule and will eventually shift to a 1.5 MW capacity at three shifts per day.[8]
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