QualityStocks would like to highlight Ascent Solar Technologies Inc. (NASDAQ: ASTI). The company 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, space applications, consumer electronics for portable power or configured as stand alone modules for large scale terrestrial deployment.
In the company’s news yesterday,
Ascent Solar Technologies Inc. announced a five-year contract with TurtleEnergy LLC, a premium PV systems interrogator in New Jersey. Per the agreement, Ascent Solar will deliver up to 67MW of its high-efficiency PV modules throughout the duration of the contract. The company said it expects to start shipping the products to TurtleEnergy early next year.
Ascent Solar president and CEO Farhad Moghadam said Ascent Solar’s agreement with TurtleEnergy will position both companies for more opportunities and enable them to improve their current operations.
“We believe that this order will help establish Ascent Solar in one of the fastest growing markets in the United States. We are focused on enabling companies like TurtleEnergy to address new market opportunities, add value to existing lines of business and set a higher performance standard for flexible PV. TurtleEnergy is an excellent partner to have in reaching our new target markets,” Moghadam stated in the press release.
By using substrate materials and large-roll formats, which reduce the number of modules needed for typical applications, Ascent Solar’s PV modules can produce lower-cost systems.
“Ascent Solar is well-positioned to reduce the cost of PV systems and enable introduction of innovative product solutions to the marketplace with its lightweight, flexible and high efficiency PV modules. This is a perfect complement to our company as a leader in introducing new and unique value-added solutions for clients,” John Millard, founder of TurtleEnergy, stated. “Under our development agreement with Ascent Solar, we have gained considerable experience working with its product over the past 10 months and are now pleased to become a customer as we plan to be the first solar systems integrator to come to market using our leading-edge approach using these materials.”
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