THORNTON, Colo., Jul 08, 2010 (BUSINESS WIRE) -- Ascent Solar Technologies, Inc. (NASDAQ:ASTI) announced today that it has been honored with the prestigious R&D 100 Award, presented annually by R&D Magazine to recognize the 100 most technologically significant new products and processes of the year, as judged by a panel of experts. The company's winning entry is its unique commercially manufactured monolithically integrated CIGS light weight and flexible thin-film modules using a plastic substrate for applications ranging from automotive, portable power and roof tops.
Farhad Moghadam, President and CEO of Ascent Solar stated, "Ascent Solar is the only module manufacturer to receive the accolade this year. The award is shared with ITN Energy Systems, the former parent company of Ascent Solar, and the originator of this technology. With our partners, we continue to develop innovative ways to use photovoltaics on a daily basis. Our modules enable the personal portability of solar power, applications for electrification of transportation and aesthetically pleasing integration of PV into building materials. Having our product selected as one of the top 100 innovations of the year by R&D Magazine's panel of experts is both an honor and a confirmation of our ability to develop the next generation of solar products."
For 48 years, R&D 100 awards have been given by R&D Magazine to the top 100 technological achievements of the year. Previous award recipients have included anti-lock brakes, the fax machine, halogen lamps and liquid crystal displays.
"The R&D 100 Awards have always represented some of the most innovative concepts to reach the marketplace in the past year. 2010 is no exception, and we had a particularly strong field of entries for the judges to evaluate," said Rita Peters, editorial director of R&D Magazine.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. spun off in 2005 from ITN Energy Systems, is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, commercial transportation, space applications, consumer electronics for portable power or configured as stand alone modules for large scale terrestrial deployment. Ascent Solar is headquartered in Thornton, Colo. Additional information can be found at www.ascentsolar.com.
Forward Looking Statements:
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 expressed 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 the Securities and Exchange Commission.
SOURCE: Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc.
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