Ascent Solar Technologies Inc. (NASDAQ: ASTI) announced it has delivered test samples to two customers in a move to expand its thin-film photovoltaic (PV) technology into extreme environments, including the world's oceans and space-based power systems. The company, known for its featherweight, flexible and durable CIGS thin-film PV solutions, is now targeting applications where traditional solar panels cannot operate effectively.
The first customer is an ocean monitoring technology company that develops autonomous underwater vehicles capable of navigating any ocean environment with high speed, endurance and sensing capabilities. This customer will test Ascent Solar's technology for functionality and durability in aquatic terrestrial applications, with the goal of enabling persistent equipment operation for ocean-based monitoring technologies. The second customer manufactures cutting-edge power lasers for the space and defense industries and will test Ascent's PVs for space-based power beaming receiving capabilities, a technology that could enable the transmission of power between satellites in orbit.
“We see underwater and space applications as unique opportunities for thin-film PV to thrive, as the technology’s lightweight, flexible and durable design allows it to withstand the immense pressures and tempestuous conditions that define these environments,” said Paul Warley, CEO of Ascent Solar Technologies. “Our team looks forward to reviewing the findings from each of these tests, as we aim to unlock thin-film solar technology’s potential in both markets.”
Ascent Solar's CIGS PV products are designed to perform well in low-light conditions and extreme temperatures, while being cheaper to manufacture than existing solutions. The company claims it can deliver solar arrays in six to eight weeks, significantly faster than competitors with lead times of nine to 12 months. Its products are based on years of R&D and manufactured at its 5MW production facility in Thornton, Colorado.
The marine environment solar market is forecast to grow from $1.2 billion today to $3.5 billion by 2033, while the space industry represents a $6.8 billion opportunity for Ascent by 2040. This growth is driven by the need for environmentally friendly power sources, new regulations, and advances in solar panel efficiencies. Ascent has already secured partnerships with NASA's Marshall Space Flight Center and Glenn Research Center (GRC) to develop space-based power systems, as well as a deal with NOVI Space Inc. to provide rollable PV array blankets for AI-powered satellites. These test deliveries mark a key milestone in replicating those successes in the maritime and defense industries.
