Ascent Solar Signs Portable Power Product Supply Agreement
September 22 2009 - 8:00AM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
state of the art flexible thin-film solar modules, announced today
that it has signed a direct supply agreement with Goal Zero LLC, a
subsidiary of Provo Craft and Novelty, Inc., a consumer products
company located in Utah. Under the terms of the agreement, Ascent
Solar will supply up to 30,700 units of its “Premier” module
through 2010. The modules have been designed for incorporation into
a custom electronic portable power application scheduled to arrive
on the market at the beginning of next year.
Robert Workman, Chief Development Officer of Provo Craft, stated
“For over forty years, our mission at Provo Craft has been to
inspire creativity by providing the best products, tools,
education, ideas, and customer service. Our subsidiary Goal Zero
LLC is bringing energy products to market that utilize Ascent
Solar’s lightweight, flexible and high efficiency photovoltaic (PV)
modules. Ascent Solar’s modules are advantageous for our modular,
system level power solutions that we will be marketing worldwide
early next year.”
Ascent Solar president and CEO Farhad Moghadam added “Electronic
and portable power applications are a natural end product use of
our material. Provo Craft is an excellent customer to have given
their established presence as a recognized marketing leader, and
Goal Zero LLC is well positioned to bring our modules to the
international marketplace. We expect this to be the first of many
ways that Ascent Solar can further differentiate itself from other
traditional solar manufacturers.”
About Provo Craft and Novelty, Inc., and Goal Zero
LLC:
Provo Craft and Novelty, Inc. was founded in 1964 and is based
in Spanish Fork, Utah. Provo Craft had sales at about $250 million
for 2008 and its revenue has increased 38 percent over the past two
years. Provo Craft manufactures and distributes craft, hobby, and
education products for school projects, as well as portable
batteries, battery packs, and solar briefcases. Its products are
sold in countries around the world, including Australia, Taiwan,
France, and Brazil. Goal Zero LLC is a subsidiary of Provo Craft
and Novelty, Inc. Additional information can be found at
www.provocraft.com.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film
photovoltaic modules with substrate materials that can be more
flexible and affordable than most traditional solar panels. Ascent
Solar modules can be directly integrated into standard building
materials, space applications, consumer electronics for portable
power or configured as stand alone modules for large scale
terrestrial deployment. Ascent Solar is headquartered in Thornton,
Colorado. Additional information can be found at
www.ascentsolar.com.
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the
Company's actual operating results to be materially different from
any historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"believes," "belief," "expects," "expect," "intends," "intend,"
"anticipate," "anticipates," "plans," "plan," to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's filings with the
Securities and Exchange Commission.
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