Ascent Solar Technologies (NASDAQ: ASTI) is a thin-film photovoltaic company that manufactures flexible, lightweight solar modules using proprietary copper indium gallium selenide (CIGS) technology applied to a plastic substrate. Revenue is generated through product sales of PV modules targeting specialty, high-value-added markets including aerospace, power beaming, agrivoltaics, defense, transportation, and off-grid portable power. The company operates from a facility at 12300 Grant Street in Thornton, Colorado, and positions its products on the basis of the highest power-to-weight ratio among at-scale commercially available solar modules. ASTI competes against other thin-film solar technologies, including amorphous silicon (a-Si) and cadmium telluride (CdTe) products, as well as gallium arsenide-based modules. The company describes its strategic alliances as early-stage and has not disclosed material customer concentration or segment revenue figures in its FY2025 10-K filing. Paul Warley serves as President and Chief Executive Officer, and Jin Jo serves as Chief Financial Officer, as of the filing dated March 20, 2026.

Revenue model

Transactional product sales of CIGS thin-film PV modules to customers in specialty end markets including aerospace, power beaming, defense, agrivoltaics, and off-grid portable power applications.

Products and services

Flexible, lightweight CIGS thin-film photovoltaic modules on plastic substrate; customizable shapes and sizes for specialty applications; renewable power solutions for off-grid, portable power, transportation, defense, space, near-space, and agrivoltaic markets.

Customers and end markets

Aerospace, power beaming, space and near-space, agrivoltaics, defense, transportation, and off-grid portable power markets. Specific customer names and revenue concentration figures are not disclosed in the FY2025 10-K filing.

Value-chain role

Manufacturer of specialty thin-film PV modules; owns proprietary CIGS-on-plastic production process; holds licenses from ITN Energy Systems and UD Technology Corporation; sells direct to end markets and through strategic alliances.

Geographic exposure

Primary operations in Thornton, Colorado. No geographic revenue breakdown disclosed in the filing excerpts.

Competitors

Amorphous silicon (a-Si) thin-film solar manufacturers, Cadmium telluride (CdTe) thin-film solar manufacturers, Gallium arsenide (GaAs) solar module manufacturers

Source: SEC 10-K, filed 2026-03-20

Industry: Semiconductors & Related Devices Peers: NVIDIA Corp Skywater Technology Inc Everspin Technologies Inc Kopin Corp Navitas Semiconductor Corp SolarWindow Technologies Inc Pixelworks Inc NVE Corp Transphorm, Inc. Rigetti Computing Inc