Structure Change Positions Solar Technology Developer for Strong Growth in High Value Aerospace & More: NASDAQ: ASTI

THORNTON, COLORADO, UNITED STATE , August 13, 2024 /EINPresswire.com/ -- Structure Change Positions Solar Technology Developer for Strong Growth in the High Value Aerospace, Space Mission Exploration, Industrial/Commercial Business and More: Ascent Solar Technologies, Inc (NASDAQ: ASTI)

For more information on $ASTI visit:
https://www.ascentsolar.com or https://compasslivemedia.com/asti/

Leading Provider of Innovative, High-Performance, Flexible Thin-Film Solar Panel Technology.

Specific Applications in Environments Mass, Performance, Reliability, and Resilience are Key Considerations.

40 years of R&D, 15 years Manufacturing, Numerous Awards, and a Comprehensive IP and Patent Portfolio.

Products Used in Space Missions, Aircraft, Agrivoltaic Installations, in Industrial/Commercial Construction and Extensive Consumer Goods.

Revision of Share Structure to Support Continued Nasdaq Listing and Enhance Future Corporate Growth Plans in the Aerospace Industry and More.

Debt Pay Off for Outstanding Balances on Financing Agreement.

Collaboration with University of Stuttgart IGTE for the Development and Distribution of Sustainable Power Generation Technology.

Ascent Solar Technologies, Inc (NASDAQ: ASTI) is backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio. ASTI is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. ASTI 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. The ASTI research and development center and 5-MW nameplate production facility is strategically located in Thornton, Colorado.

ASTI Details Financial and Industry Status After Planned Reverse Stock Split

On August 13th ASTI commented on its positioning withing the solar industry after its previously-announced reverse stock split, which takes effect before market open on August 15, 2024.

“By effecting the reverse stock split, we believe we have better positioned the company to succeed moving forward both in the near and long term. We have amassed enough liquidity to continue operations well into the first quarter of 2025, an important factor as we continue to pursue strategic partnerships and customer engagements within key industry verticals including space and aerospace,” said Paul Warley, CEO of ASTI.

“As interest in solar technologies continue to grow throughout the space and aerospace industries, we believe Ascent’s thin-film solar PV technologies present a highly viable product offering that is ready for efficient application across multiple high-growth verticals. We have continued to expand our new business pipeline, while also achieving dramatic advancements in in our technology over the last year – both of which we see as positives for potential customers, as well as our current and prospective investors.”

ASTI believes that affecting the reverse stock split will assist in its efforts to meet the Nasdaq continued listing standards and to continue to have its common stock remain listed and traded on Nasdaq. In particular, ASTI expects the reverse stock split to increase the per share price and bid price of its common stock above the $1.00 required by Nasdaq’s Minimum Bid Price Rule.

Shares of the Company’s common stock will be assigned a new CUSIP number (043635804) and are expected to begin trading on a split-adjusted basis on Thursday, August 15, 2024.

ASTI expects to have its issued and outstanding common shares decrease from approximately 102 million pre-split shares to approximately 1.02 million post-split shares outstanding as a result of the reverse stock split.

Ascent Solar Technologies Announces Debt Pay Off for Outstanding Balances
On June 21st ASTI provided a corporate update on the Securities Purchase Contract with an institutional investor previously disclosed on December 19, 2022. ASTI paid off the remaining institutional investor’s notes payable and related liabilities. No further obligations exist under the December 19, 2022, Securities Purchase Contract.

Collaboration with University of Stuttgart IGTE for the Development and Distribution of Sustainable Power Generation Technology

On May 16th ASTI announced it has begun developing prototype solar arrays in collaboration with the University of Stuttgart Institute for Building Energetics, Thermotechnology and Energy Storage (IGTE), an international research center focused on energy storage, renewable energies and indoor climate technology.

The IGTE mission is to “research and teach for comfortable living and working conditions in buildings and quarters in harmony with energy efficiency, sustainability and technology. Particular emphasis is placed on renewable energies…and using top-tier scientists to develop sustainable solutions for the global transformation of energy systems.” Since its establishment in 2018 the IGTE has continued to expand and develop innovative solutions for energy generation and storage with the intent for wide scale distribution and adoption.

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Paul Warley, CEO of ASTI
Ascent Solar Technologies, Inc
+1 720-872-5000
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