Ascent Solar Completes Delivery of A Major Contract to Supply Its Newly Designed HyperLight Thin-Film Modules for High Altitude Airship Application

THORNTON, CO, May 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ Ascent Solar Technologies, Inc. (OTC: ASTI), a developer and manufacturer of state-of-the-art, lightweight and flexible thin-film photovoltaic (PV) solutions (“Ascent” or the “Company”), announces that the Company has completed the delivery of a major contract for its HyperLight thin-film modules for high altitude airship applications. The HyperLight family of modules further reduces packaging and PV module mass, achieving best-in-class power-to-weight ratio (Specific Power) of over 350 W/kg for a fully laminated product on an airship, while streamlining customer operations to integrate the modules to their application.

The shipment represents the third and the largest order from the customer since March 2018. The customer is the developer of the world’s most advanced unmanned, helium-filled airship operating in the stratosphere at an altitude greater than 60,000 feet above sea level. The robust, versatile and solar-powered high-altitude platform aims to provide several services, including to deliver high-speed internet directly-to-device, enable high-resolution real-time Earth imagery, and facilitate other humanitarian endeavors.

Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) are based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV modules have been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over one year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment.

Dr. Joseph Armstrong, Founding Team Member, Chief Technology and Chief Operating Officer of Ascent Solar, said, "We have noted previously that Ascent's thin-film CIGS PV technology produces modules with the highest power-to-weight ratio, and this characteristic is incredibly important for aerospace, near-space, and space applications. We were able to provide our customer with a unique modular product that is designed to reduce part count significantly over our competition, while providing the ability and flexibility to integrate the modules into different form factors for different applications as their product evolves. Based upon results from the first two orders supplied to them, we worked with the customer to significantly reduce the mass of the PV module while including in-laminate circuit protection to enable them to streamline their integration process as well. It is a testament to our Ascent Solar team that we were able to complete this order that dramatically improved upon performance from earlier designs while overcoming significant challenges of the past 15 months."

"This contract is by far the single largest PV sales contract in the corporate history of Ascent Solar, which follows the success of multiple large shipments of such customized high-voltage superlight thin-film for high altitude applications," said Victor Lee, CEO and President of Ascent Solar Technologies, Inc. "The contract is not only significant in value but also underscores the power of Ascent's proprietary technology to address these rapidly emerging and growing premium PV markets. We hope that this contract is only the 'tip of the iceberg' as the project, if successfully launched, is expected to be rolled out on a much larger scale in the future."

ABOUT ASCENT SOLAR TECHNOLOGIES, INC:

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine's 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado, and more information can be found at www.AscentSolar.com.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." 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. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. 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.

Ascent Solar Technologies
Investor Relations: IR@AscentSolar.com