Ascent Solar Technologies Inc. expanded significantly into the space market during 2025 through strategic partnerships with organizations including NASA and defense contractors, positioning the company for what it anticipates will be a strong 2026. The company's featherweight, flexible, and durable CIGS thin-film photovoltaic solutions have been selected by customers for their performance in extreme environments, low light conditions, and rapid delivery capabilities.
One key partnership involved NOVI Space Inc., a company that manufactures and operates AI-powered satellites. In March 2025, the companies signed a Master Services Agreement under which Ascent provides rollable PV array blankets for NOVI's AI edge processing constellation, scheduled to launch in early 2026. Ascent's ability to deliver solar arrays in six to eight weeks, compared to an industry standard of nine to twelve months, proved crucial in securing this business. The technology enables NOVI to deliver real-time Earth Observation insights directly from space.
Ascent is also collaborating with NASA Marshall Space Flight Center, with support from NASA Glenn Research Center, to develop technology for receiving beamed power. This involves using microwave or laser beams to transmit energy from satellites or orbital vehicles to Ascent's thin, flexible PV panels affixed to spacecraft. This approach allows spacecraft to operate for longer durations while reducing weight and manufacturing costs due to fewer required parts and less equipment.
Beyond direct customer engagements, Ascent has pursued a collaborative strategy within the industry, partnering with other companies to address a space solar market projected to reach $6.8 billion by 2040. In November 2025, Ascent announced a partnership with CisLunar Industries to develop long-lasting power solutions for extended commercial, civil, and defense space missions. The company also entered a strategic partnership with Defiant Space Corp. to pursue opportunities in U.S. defense and national security sectors.
Another significant collaboration involved Star Catcher Industries, a company developing what it describes as the first space energy grid. This partnership aims to provide satellite operators with up to five to ten times more power by transmitting concentrated solar energy to existing onboard solar arrays without requiring new equipment. Ascent has also formed technology alliances, including one with Emtel Energy USA to combine Emtel's graphene-based, long-duration energy storage with Ascent's PVs for powering satellites and spacecraft.
Financially, Ascent ended 2025 with $2 million in gross proceeds from a private placement, with potential for up to $3.5 million in aggregate proceeds upon full exercise of associated warrants. Looking ahead to 2026, the company's immediate focus includes adhering to an aggressive production schedule to fulfill booked orders for array deployments planned for the first quarter. Concurrently, Ascent will work on advancing cell efficiency for its ASTI CIGS thin-film technology.
The company's CEO plans to travel to the European Union to meet with strategic satellite players and decision-makers, which could lead to additional deals and collaborations. Ascent anticipates further development and deliveries of solar arrays for European partners during the first half of 2026. The company will also continue advanced environmental testing during the first quarter to quantify performance in extreme space conditions, including radiation and atomic oxygen resilience testing, while maintaining collaborations with partners secured in 2025.
