# Ascent Solar Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ascent-solar-technologies

- Industry: Renewable Energy
- Headquarters: Thornton, US
- Website: www.ascentsolar.com
- Total disclosed funding: $10M
- Latest round: Series B (Feb 11, 2014)
- Investors on record: 1

## About

Ascent Solar Technologies, based in the US, develops and manufactures innovative thin-film photovoltaic panels, utilizing advanced Copper-Indium-Gallium-Selenide technology for diverse applications.Founded in 2005 in Thornton, US, Ascent Solar Technologies focuses on developing photovoltaic technologies. The company has undergone strategic shifts to cater to various sectors and is recognized for its specialized solar products. Joseph Armstrong, the founder, has been instrumental in guiding the company's direction. Ascent Solar has raised a total of USD 6.00 mn across several funding rounds, with the latest round occurring on June 5, 2014.Ascent Solar Technologies specializes in the development and manufacturing of innovative thin-film photovoltaic (PV) panels utilizing Copper-Indium-Gallium-Selenide (CIGS) technology. Their core product offerings are lightweight and flexible solar panels that can be seamlessly integrated into various applications, including agricultural solutions through partnerships like Tube Solar AG, which assists farmers in balancing solar energy generation with traditional farming. The panels are designed for a variety of end-use cases, ranging from unmanned aerial vehicles (UAVs) like the Silent Falcon, which benefits from a significant range extension when equipped with Ascent's solar films, to applications in space technology validated through NASA tests. Ascent targets a global market that includes sectors such as aerospace, agriculture, and consumer electronics, providing a versatile solar power solution where traditional rigid panels are not practical. Their product distribution spans multiple geographical markets, emphasizing the company's commitment to meeting diverse energy needs worldwide.Ascent Solar Technologies generates revenue through direct sales of its proprietary thin-film solar panels to various clients, including governmental organizations, commercial enterprises, and agricultural entities. The company structures its transactions primarily through B2B partnerships and contracts, facilitating tailored solutions based on client specifications and project requirements. These transactions typically involve bulk orders or long-term contracts that ensure clients receive the necessary quantity and integration support for their solar energy systems. Ascent’s flagship products, characterized by their lightweight and high-performance capabilities, attract clientele that seeks efficient energy solutions in specialized fields. Specific pricing plans are determined based on the scale and complexity of the projects, allowing flexibility in negotiations and fostering ongoing relationships with their customer base.Ascent Solar Technologies is focusing on the development of new solar panel technologies, with plans to introduce innovative products tailored for the aerospace and agricultural markets. The company aims to expand its reach into European and Asian markets by 2025, targeting specific geographical regions that require advanced solar solutions. The recent funding of USD 6.00 mn raised in June 2014 will be strategically allocated to support product development and market expansion initiatives.

## Funding rounds

- Series B, Feb 11, 2014, $5M — Ironridge Global
- Series B, Nov 1, 2013, $5M — Ironridge Global

## Investors

- Ironridge Global (https://capitalatlas.ai/funds/ironridge-global) — Series B