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14 November 2014

Ascent Solar's Q3 reaffirms full-year guidance of four-fold growth over 2013

For third-quarter 2014, Ascent Solar Technologies Inc of Thornton, CO, USA, which makes lightweight, flexible copper indium gallium diselenide (CIGS) thin-film photovoltaic modules integrated into off-grid applications and its EnerPlex series of consumer products, has reported revenue of $1.1m, the second consecutive quarter in which revenue exceeded $1m.

To this point in Q4, the firm has shipped or has backlog scheduled to ship in excess of $2m. As a result, Ascent Solar has reaffirmed its full year revenue guidance (given on 6 March) of $5-6m, representing four-fold growth over 2013.

“Since Ascent Solar began to reposition its business model in second-half 2012 by pivoting into consumer goods and specialty applications, we are experiencing accelerated acceptance of our flagship EnerPlex products,” says president & CEO Victor Lee. “We expect to continue this growth trend, while maintaining our focus on sales of products which capture the entire consumer value chain and at prices that are a premium to other solar manufacturers,” he adds.

“The clear indication that Q4 revenue will be more than double the September quarter reinforces the viability of the transformational business model that we embarked on in second-half 2012,” Lee believes. “As we continue to build and expand our EnerPlex distribution channels domestically and internationally, we expect to achieve higher sales, better economies of scale, and dramatically reduce our overall costs, enabling meaningful improvements in product margin.”

See related items:

Ascent Solar’s Q2 revenue driven by EnerPlex sales of $1m

Tags: Ascent Solar EnerPlex CIGS

Visit: www.AscentSolar.com

Visit: www.goenerplex.com

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