Ascent Solar Technologies Inc. (NASDAQ: ASTI) has delivered test samples to two customers to evaluate its thin-film photovoltaic technology in extreme environments, marking a significant expansion from space applications to ocean monitoring systems. The company's CIGS thin-film PV solutions, known for being featherweight, flexible, and durable, are now being tested for functionality and durability in aquatic terrestrial applications by an ocean monitoring technology company that develops autonomous underwater vehicles.
The second customer, which manufactures cutting-edge power lasers for space and defense industries, will test Ascent's PVs for space-based power beaming receiving capabilities. This testing aims to enable transmission of power between satellites in orbit, representing Ascent's continued expansion in both marine and space markets. Paul Warley, CEO of Ascent Solar Technologies, stated that underwater and space applications present unique opportunities for thin-film PV technology to thrive due to its ability to withstand immense pressures and tempestuous conditions.
What makes Ascent Solar's technology particularly suitable for extreme environments includes its lightweight, flexible design that performs well in low-light conditions and extreme temperatures. The company claims a significant manufacturing advantage, delivering solar arrays in six to eight weeks compared to competitors' nine to twelve month lead times. The products are manufactured at the company's Thornton, Colorado, 5MW production facility following years of research and development.
The market potential driving these developments is substantial. The marine environment solar market is forecast to grow from $1.2 billion to $3.5 billion by 2033, while the space industry represents a $6.8 billion opportunity for Ascent by 2040. This growth is fueled by the need for environmentally-friendly power solutions for ocean and space exploration, new regulations, carbon footprint reduction initiatives, and advances in solar panel efficiencies.
Ascent has previously demonstrated its technology's viability through partnerships with NASA, including developing space-based power systems with NASA Marshall Space Flight Center and NASA Glenn Research Center. The company also partnered with NOVI Space Inc. this summer, providing rollable PV array blankets for AI-powered satellites that deliver real-time Earth Observation insights. These new test deliveries to ocean monitoring and space defense customers represent Ascent's strategic move to replicate its space industry successes in maritime applications, potentially unlocking new capabilities for persistent equipment operation in ocean-based monitoring and satellite power transmission systems.
