Ascent Solar acquires 15-MW thin-film manufacturing assets in Zurich
- Ascent Solar Technologies Inc (NASDAQ: ASTI), a Thornton, Colorado-based firm concentrated on CIGS thin-film photovoltaics (PV), has actually finished a deal to get the 15-MW roll-to-roll thin-film producing assets in Zurich of thin-film solar supplier Flisom AG.
ASTI claimed today that the acquisition is a milestone in its turnaround plan. The assets boost its nameplate capacity by 300% and also provide committed income from Flisom's impressive contracts, the company described. ASTI expects the purchase to enable it to develop new revenue streams in the Luxury Goods and Building Integrated Photovoltaics (BIPV) markets. The company is likewise seeking to use the European presence to go after need in Europe, Asia and also the United States.
ASTI will start making utilizing its new assets instantly and expects them to be EBITDA-positive as very early as the 2nd fifty percent of 2023.
"Considering that coming aboard the Company in September 2022, my priority has actually been to implement an aggressive turnaround plan and also to re-establish Ascent as the leading supplier of high-performance, flexible thin-film solar modules for use in circumstances where typical rigid panels do not function," stated president and president Jeffrey Max, who described the transaction as an ignition point for the company's turnaround.
ASTI in March introduced the repurposing of its Thornton facility to the commercialisation of perovskite solar modules.