Ascent Solar Technologies Achieves Record New Efficiency of 15.7% at Production Scale for its CIGS Solar Technology

By: Ascent Solar Technologies, Inc. via GlobeNewswire

June 09, 2025 at 08:30 AM EDT

THORNTON, Colo., June 09, 2025 (GLOBE NEWSWIRE) -- 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 announced that its thin-film CIGS technology reached record efficiency at 15.7% (AM0) at production scale. This achievement aligns with the Company’s previously announced 2025 strategy which aimed to continue improving upon its thin-film PV’s material quality, technological efficiency and production design optimization to increase the applicability of the technology in the space market.

Using the Titan™, a module approximately one square foot in size, Ascent can now produce a formidable 15.7 watts in power per unit. These modules are approximately 0.03mm in thickness and just over eight grams in weight, possess an impressive power density of 1960W/kg before encapsulation.

Ascent’s engineering and production teams have consistently achieved increases in device efficiency and overall performance since September 2023. In the last 18 months, Ascent has reached significant milestones in efficiency testing, with the latest achievement of 15.7% representing a significant increase from Q1 2024:

Q3 2023: 11.6 watts
Q4 2023: 13.3 watts
Q1 2024: 14.0 watts
Q2 2025: 15.7 watts

(Note: Power generation figures reflect STC conditions and AM0)

"These continued efficiency improvements for our CIGS arrays are the direct result of our U.S.-based manufacturing team’s tireless focus on process improvement and advanced device engineering," said Paul Warley, CEO of Ascent Solar Technologies. "The jump in device efficiency we’ve experienced over the past two years has dramatically enhanced our technology’s readiness for the space market, positioning it as an ideal solar material choice for satellite power systems and other spacecraft."

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.

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.

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Ascent Solar Technologies Achieves Record New Efficiency of 15.7% at Production Scale for its CIGS Solar Technology

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