Ascent Solar Changes Strategic Direction, Focuses On Emerging Markets

Ascent Solar Technologies Inc. has announced a change in strategy that will focus the company's lightweight, flexible thin-film solar module technology on applications for emerging and specialty markets. These markets include military and defense; custom near-space applications; off-grid charging solutions in developing countries; power for portable electronics; and custom and standard products for rooftop integration on buses, trucks and trains.

In the past, Ascent has dedicated many of its resources to establishing a position in the building-applied photovoltaics (BAPV) and building-integrated photovoltaics (BIPV) markets.

Ascent believes that it can sell its products in the previously listed speciality markets at more attractive margins than currently possible for ground-mount applications or BIPV and BAPV markets.

With the change in strategy, CEO Farhad Moghadam is stepping down. Ron Eller, an Ascent board member for the past two years, has been appointed the company's new president and CEO.

SOURCE: Ascent Solar

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