Ascent Solar Announces Annual Stockholders Meeting and Nomination of New Board Members
April 29 2010 - 6:00AM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
flexible thin-film solar modules, announced today that Kim J.
Huntley and G. Thomas Marsh have been nominated for election to
Ascent's board of directors. Huntley and Marsh, together with
Farhad Moghadam, will stand for election at the Company’s Annual
Meeting to be held at The Doubletree Hotel in Westminster, Colorado
on June 16, 2010.
Farhad Moghadam, President and CEO of Ascent Solar, stated, “Mr.
Huntley and Mr. Marsh add invaluable experience and knowledge to
Ascent Solar that support our strategy and enhance our ability to
capture high value defense, near space and space market
opportunities. Both gentlemen have a critical understanding of
procurement cycling and design integration in defense and space
markets that should provide Ascent the opportunity to lead as a
premier solar solution for these specialty market segments.”
Mr. Huntley served in the Defense Logistics Agency (DLA) of the
U.S. Department of Defense (DOD) for more than 32 years in
positions of increasing responsibility. Most recently, from July
2008 until his retirement in January 2010, Mr. Huntley served as
Director of the Defense Energy Support Center (DESC) in Fort
Belvoir, Virginia. The DESC operates as part of the DLA and is
responsible for providing energy solutions to the DOD and federal
civilian agencies. As Director of the DESC, Mr. Huntley was the
principal executive officer in charge of approximately 1,100
employees worldwide and over $25 billion in annual appropriations
involving energy infrastructure and products. From March 2006 and
immediately prior to becoming Director of the DESC, Mr. Huntley
served in leadership roles involving supply chain management,
including Deputy Commander for the Defense Supply Center in
Richmond, Virginia and Columbus, Ohio, and as Executive Director of
Customer Support and Readiness. From December 2003 to March 2006,
Mr. Huntley served as Chief of the Customer Support Office in Fort
Belvoir, Virginia. Mr. Huntley chaired the Inter Agency Working
Group for Alternative Fuels and Renewable Energy from January 2009
to January 2010. The Group included senior energy representatives
from DOD, DOE, EPA, and other major Federal Agencies. Mr. Huntley
would bring extensive supply chain, budget and defense industry
experience to our Board. Mr. Huntley holds a B.A. degree in
Economics from Golden Gate University and attended post-graduate
courses in economics at California State University, Hayward.
Mr. Marsh retired as Executive Vice President of Lockheed Martin
Space Systems Company, a subsidiary of Lockheed Martin Corporation,
in June 2006. Lockheed Martin Space Systems designs, develops,
tests, manufactures and operates advanced-technology systems,
including human space flight systems, satellites and instruments,
space observatories and interplanetary spacecraft, laser radar,
fleet ballistic missiles, and missile defense systems. From 1969
until its merger in 1995 to form Lockheed Martin Corporation, Mr.
Marsh worked at Martin Marietta Corporation, most recently in the
position of President, Manned Space Systems. After 1995, he held
positions of increasing responsibility within Lockheed Martin
Corporation, including serving as President and General Manager of
the Missiles and Space Operations business unit from 2002 until his
appointment as Executive Vice President of Lockheed Martin Space
Systems in 2003. Mr. Marsh was responsible for business operations
and the activities of approximately 18,000 Space Systems employees.
Mr. Marsh has served on the board of directors of ION Geophysical
Corporation since December 2008. Mr. Marsh would bring a background
in executive management and deep experience with the space and
defense industries to our Board. Mr. Marsh holds a B.S. degree in
Electrical Engineering from the University of New Mexico, an M.B.A.
from the University of Colorado, and attended the Massachusetts
Institute of Technology’s Sloan School of Management.
In connection with the Company's 2010 Annual Meeting of
Stockholders, the Company has filed a proxy statement with the
Securities and Exchange Commission (the "SEC"). Stockholders are
advised to read the proxy statement in its entirety as it contains
important information. Stockholders may obtain a free copy of the
proxy statement, as well as other relevant materials filed with the
SEC concerning the Company, www.sec.gov or at www.ascentsolar.com.
The Company, its directors, its executive officers and any nominee
for whose election as a director proxies are being solicited may be
deemed to be participants in the solicitation of proxies for the
election of directors within the meaning of SEC rules. Information
regarding the Company, its directors, executive officers and such
nominees, and their interests, is included in the proxy statement
for the Company's 2010 Annual Meeting of Stockholders.
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. For more information, go to 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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