Ascent Solar Technologies: Promoting Alternative Energy

Solar energy has become the preferred option when it comes to alternative energy. There are several other options available in the market, but solar power continues to be the most efficient and widely used in households around the world. This could be because of the ease of installing solar panels and it could also be because of the cost, either way, this energy alternative is rapidly gaining popularity worldwide.

In the industry of solar power, Ascent Solar Technologies, Inc. is one of the leading names that market materials used in the creation of solar panels. The company’s main product is the their flexible thin film photovoltaic material incorporated into plastic substrate. Their proprietary technology uses copper indium gallium diselenide. Their offerings are said to be much better than the combination of amorphous silicon and CdTe. The product features better flexibility, weight and relative size, making it more conducive in residential settings.

It was in 2005 that the company started competing in the market. The creation of the business was credited to the effort of ITN Energy Systems. The latter is known for investing in emerging energy technologies. Ascent started out with its research efforts in structuring their CIGS thin-film technology, which now powers their proprietary products. In 2009, the business started marketing their finished products. The manufacturing of their offerings is done from their facility in Colorado. Through the years, the company has garnered various citations for the technology they introduced to the market. They have been the recipient of Time Magazine’s 50 Best Invention Award in 2011 for their CGIS Technology.

In July 2006, the company made its initial public offering on the NASDAQ, using the ticker symbol ASTI. Today, the business is listed as a component of the Wilshire 5000 Index and continues to hold its corporate office in Thornton, Colorado. Annually, the business generates more than $7 million in revenue.