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AKC News Ascent Solar and PermaCity Solar to Develop New Photovoltaic Systems for the Terrestrial Market

LITTLETON, Colo.--(BUSINESS WIRE)--Ascent Solar Technologies, Inc. (NASDAQ:ASTI) (BSX:AKC) and PermaCity Solar announced today that they have begun co-development of a new suite of photovoltaic (PV) products and systems for the growing terrestrial market that includes large commercial buildings, master planned communities, vertical high rise structures, and residential homes. Combining the existing customer base and system engineering and integration expertise of PermaCity Solar with the flexible, thin-film module manufacturing expertise of Ascent Solar, the venture aims to deliver PV systems that offer significant performance and cost advantages over existing silicon-based solutions.

Ascent Solar’s large, roll format modules should provide inherent cost and system integration advantages over the small, fragile, bulky and rigid silicon modules in use today. The Ascent Solar thin-film PV on plastic with laser-patterned cell integration allows modules to be automatically sized in custom fashion to the unique requirements of each customer’s design needs. Analysis of a recent 600 kW silicon-based system installed by PermaCity Solar on a large commercial building suggests that the Ascent Solar module manufacturing technique may be able to provide as much as 35% more roof top coverage because silicon-based modules of today are routinely inhibited by ill-positioned roof obstructions like vent pipes, sky lights and HVAC equipment. PermaCity Solar and Ascent Solar plan to develop an integrated manufacturing technique that will link the PV system computer aided design (CAD) directly to the laser patterning control system in the factory to customize the size and shape of the modules for each unique installation.

Ascent Solar President and CEO Matthew Foster states, “Our manufacturing processes produce product at the module level which completely eliminates the current back-end assembly of cells into modules and allows for made-to-order systems. We are excited about the opportunity to collaborate with an industry expert such as PermaCity Solar and to be able to supply Building Integrated PV (BIPV) at the system level directly into the market. In addition to an established presence in the market, PermaCity Solar brings a much broader dimension to our module developments. Collectively, we have already begun to realize new and exciting capabilities and opportunities with our technology that we had not previously envisioned.”

PermaCity Solar’s expertise in PV system engineering and integration has resulted in a unique “plug-and-play” PV system that simplifies the installation process. Using Ascent Solar’s technology, PermaCity Solar plans to install an entire system that incorporates only modules of a constant, fixed and very high voltage. This powerful technique enables modules to be integrated in parallel, thus avoiding the complex series connections that require vast amounts of wiring, connectors, junction boxes, combiner boxes, etc. Achieving the same level of versatility is problematic with current silicon-based technology and other technologies that utilize standardized module manufacturing tools designed to accommodate a fixed industry standard PV cell size. PermaCity Solar President and CEO Jonathan Port stated, “PermaCity looks forward to building large projects with these new products that will completely change the PV industry. With the opportunity for cost savings from manufacturing to roof installation by as much as 40-50%, we expect our installation of these products to exceed 100MW per year. The ease at which these new modules and systems come together will be remarkable. At these levels it appears that the days where 5 ¢/kWhr electricity produced by photovoltaics are fast approaching.”

About PermaCity Solar:

PermaCity Corp. is a leading system developer and integrator of state-of-the-art photovoltaic systems specializing in high-quality, long-life performance and is located in Los Angeles, California. PermaCity Solar has demonstrated particular expertise in designing and installing systems atop large commercial buildings, master planned communities, vertical high-rise structures and individual homes. PermaCity’s vision is the convergence of solar photovoltaic systems, software-driven advanced energy monitoring, environmentally friendly and energy efficient building materials. PermaCity’s industry-leading techniques create 100% energy independent buildings and ultimately entire cities and communities. PermaCity believes that on-site clean energy generation can be achieved through the implementation of our solar photovoltaic systems, in a cost-effective manner. www.permacity.com.

About Ascent Solar Technologies:

Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic materials and modules and is located in Littleton, Colorado. Please visit our website for additional information at www.ascentsolar.com.

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 expresses 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 Securities and Exchange Commission.