News | September 12, 2023

Ascent Solar Technologies, Inc. Achieves New Benchmark Of 15.5% In Cell Production Efficiency Of Its CIGS Solar Technology

The thin-film solar provider’s efficiency improvements intended to help achieve widespread adoption of powerful, flexible solar PV across a number of industries and applications

Thornton, CO (GLOBE NEWSWIRE) - Ascent Solar Technologies, Inc. (NASDAQ: ASTI) (“ASTI” or the “Company”), the leading U.S. innovator in the design and manufacture of featherweight, flexible thin-film photovoltaic (PV) solutions, announced today that it has achieved a cell production efficiency increase, with a new benchmark of 15.5% in its CIGS solar technology, a significant increase from the 10.8% standard efficiency measured for production material in 2012. This increase is the result of focused innovation and a giant step toward the improved efficiencies that ASTI intends to deliver through continued process optimization and development of alternate chemistries.

ASTI expects to see an even greater increase in cell efficiency through the use of zinc oxysulfide, implemented through an Atomic Layer Deposition (ALD) process, which could potentially increase overall cell production efficiency by an additional 1% to 1.5%.

“We are thrilled with the rapid progress optimization for our CIGS technology that has taken place over just a few short weeks,” said Paul Warley, ASTI’s Chief Executive Officer. “As we continue to optimize our technology and processes, we expect to move even closer to reaching our efficiency goal of 18% in the near future, furthering our long-term mission of increasing the rate of global thin-film PV adoption.”

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 are located in Thornton, Colorado. To learn more, visit

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.

Source: Ascent Solar Technologies, Inc.