Ascent Solar Technologies (ASTI) Stock Soars On Major Delivery

Ascent Solar Technologies, Inc. (OTC: ASTI) is screaming for the top in the market this morning after announcing that it has completed delivery on a major contract. Here’s what’s going on:

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ASTI Stock Climbs On Delivery Completion

In the press release, Ascent Solar said that it has completed a major delivery for its HyperLight thin-film modules for high altitude airship applications. The line of products reduces the packaging and PV module mass, giving it a best-in-class power-to-weight ratio of over 350 watts per kilogram. 

As a result, it is the perfect option for airships. Moreover, the company’s streamlining customer operations to integrate the modules into its customer’s application. 

This is an important shipment for the company as it represents the third largest order from the customer since March of 2018. While the customer has not been named, it 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. 

In the release, ASTI said the robust, versatile and solar-powered high-altitude platform aims to provide several services, including the delivery of high-speed internet directly-to-device, enabling high-resolution real-time Earth imagery, and facilitating other humanitarian endeavors. 

In the release, the company reminded investors that its flexible, ultra-lightweight, monolithically-integrated photovoltaics are based on the copper-indium-gallium-selenium, or CIGS, chemistry and will benefit various future missions ranging from CubeSats, solar sails, and potentially missions to the moon and mars. 

Management Commentary

In a statement, Dr. Joseph Armstrong, Founding Team Member, Chief of Technology, and Chief Operating Officer at ASTI, had the following to offer:

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.

The above statement was followed up by Victor Lee, CEO and President at ASTI. Here’s what he had to say:

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. 

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.

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This News Is Huge

The news released by ASTI this morning proved to be overwhelmingly positive. At the end of the day, the customer that’s ordering these high-tech solar modules is looking to make waves in humanitarian efforts from high altitudes, and the high-end solar modules are giving it the ability to do just that. 

All-told, Ascent Solar’s lightweight technologies are proving to be an important part of the system for this high-tech customer, but the value of the news goes far beyond that. The applications of this solar technology are endless, from airships produced by this customer to consumer and passenger aircraft, military applications, and much, much more. 

As the company continues to innovate in the world of light-weight solar energy, it’s building its position as a leader in the production of modules for these purposes, an area where demand is expected to skyrocket ahead. 

All told, ASTI stock is one to watch closely. 

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