EQS-News: To Space And Beyond: Ascent Solar Technologies Makes Inroads In The Space Market

By Meg Flippin Benzinga

DETROIT, MICHIGAN - April 16, 2025 (NEWMEDIAWIRE) - Ascent Solar Technologies (NASDAQ: ASTI), the maker of featherweight, flexible and durable CIGS thin-film photovoltaic (PV) solutions is making progress in powering the spacecraft of tomorrow, engaging with several strategic partners in the space market from NASA to defense contractors. 

The space solar market is a big opportunity for the Thornton, Colorado solar technologies company. After all, it is projected to reach $6.8 billion by 2040 according to MarketsandMarkets, growing from $4.7 billion in 2030. Demand for sustainable energy and technological advancements are driving the growth. Last year Ascent Solar amped up its focus on the space market after determining that its thin-film PV application has the greatest opportunity to grow in that industry. 

Inking Space Deals 

Ascent Solar’s CIGS solar cells are proving attractive to players in the space industry because they are thin-film photovoltaic (PV) cells that weigh little and are flexible and bendable. Since they can perform well in low light and harsh environments, they are becoming a choice for space exploration, drones and even ground vehicles. Advances in solar technology have improved efficiencies, making solar a vital part of space exploration. It doesn’t hurt that solar is clean, renewable and is in abundance. And unlike fuel it doesn’t harm the environment.

Ascent reports that it is in talks with a major defense contractor, multiple deployable technology companies and a satellite company to complete integration testing of Ascent’s CIGS solar technology. The end goal is to successfully test and integrate its technology to secure long-term agreements. That, says Ascent, will provide consistent annual revenue with a diverse set of customers in the space market. These partnerships will also help the company further develop thin-film PV capabilities suited for space environments, beamed power applications and use in satellite power systems.

NASA’s Growing Interest In This Tech

The space sector is currently experiencing a boom and growing at an unprecedented rate. By 2035, the space economy is set to reach $1.8 trillion, becoming a major player in the global economy. While the private space sector has been gaining traction, NASA’s legendary status remains. In 2024, Ascent Solar collaborated with NASA to test its thin and flexible sun-catching film as part of the Lightweight Integrated Solar Array project, which is part of a greater mission to develop "low-cost power for spacecraft."  

With Ascent Solar’s technology, energy is beamed from satellites or orbital vehicles to these thin, flexible PV panels affixed to the spacecraft via microwave or laser beam. Once captured in the CIGS PV modules the spacecraft will be able to go further, for longer periods of time. Plus, the spacecraft will be lighter and cheaper to make because it has fewer parts and needs less equipment to power it, reports Ascent.  The company also counts DARPA and the National Renewable Energy Laboratory as partners.

Advancing Its Technology 

Beyond inking partnerships, Ascent Solar is focused on increasing research and development by leveraging higher education institutions with advanced engineering programs. It’s also seeking private development partnerships to develop the next generation of thin-film solar technology. 

“Our latest solar efficiency milestones are opening new revenue streams driven by the increasing demand to power space vehicles and beam solar energy,” said  Paul Warley, CEO of Ascent Solar Technologies.  “Ascent products - all produced domestically in our facility in Thornton, CO - are uniquely poised to reliably meet that demand in the harsh environment of space, reducing costs and increasing operational efficiency for customers in the public, private and government sectors.”

Featured photo by NASA on Unsplash.

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News Source: Benzinga