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2 July 2009


Ascent Solar shareholders elects private equity firm’s CEO to board

Ascent Solar Technologies Inc of Thornton, CO, USA, a developer of flexible thin-film photovoltaic modules based on copper indium gallium diselenide (CIGS), says that, at its annual shareholder meeting on 30 June, Ron Eller was elected to the board to serve until the 2012 annual meeting of stockholders.

Eller is CEO of Monroe Street Capital LLC, a private equity firm formed in 2009. From December 2008 until May 2009, he was a managing director of private equity firm Capital Preservation Inc. From 1994 until March 2008, he held various positions at Hewlett-Packard Company, including VP & general manager of the NetServer business from 2002 to 2003 and, more recently, VP & general manager of the software and system integrator channels of the Technology Solutions Group. Eller holds a B.S. degree in professional aviation from Purdue University and an M.S. degree in business from Colorado State University.

Shareholders also re-elected Dr Amit Kumar (president & CEO of Combimatrix Corp) and Richard Swanson (a business advisor and consultant) to serve until the 2012 annual meeting, and Richard Erskine to serve until the 2011 annual meeting.

In addition, shareholders approved an amendment and restatement of the firm’s 2005 stock option plan that increases the number of shares authorized for issuance under that plan by 1 million shares.

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