14:00 | 22.09.2009
Ascent Solar Signs Portable Power Product Supply Agreement
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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