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THORNTON, Colo., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Ascent Solar Technologies (“Ascent Solar” or the “Company”) (Nasdaq: ASTI), a U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today announced the appointment of former founding member of SpaceX Philippe Kassouf to the Company’s Strategic Advisory Board in the role of Strategic Advisor.

In addition to his advisory role at Ascent, Kassouf currently serves as the Founder and CEO of QED Engineering Inc., a startup aimed at new product development for the space and military aerospace markets. Prior to joining Ascent, he held the position of CTO at Aitech Defense Systems, Inc., where he was responsible for the design of space-qualified and radiation-tolerant Single Board Computers, gigabit ethernet network switches, and Network Interface Card solutions.

As a founding member of SpaceX, Kassouf oversaw research and development for the avionics department, where he was tasked with identifying which technology was best suited for each vehicle. He also oversaw the architecture development and migration from the Falcon 1 spacecraft to Falcon 9, as well as the architecture development of Dragon.

Kassouf joins Ascent’s Strategic Advisory board on the heels of its founding and addition of its inaugural member, Major General Casey Blake, in January. His knowledge and expertise on the board will prove essential as Ascent looks to further bolster its relationships within the US space and aerospace industries and continue its proliferation of thin-film solar solutions in space environments.

“Philippe has a very prominent background in space and aerospace technology, and as a founding member of SpaceX, possesses deep industry relationships and experience in scaling commercial space technologies,” said Paul Warley, CEO of Ascent Solar Technologies. “Philippe’s appointment to our Strategic Advisory Board reflects Ascent’s emphasis on attracting some of the leading voices in sustainable space technology, and further positions the Company for adoption through strategic partnerships, and ultimately revenue generation in 2024. Philippe and General Casey’s work complement one another and will result in complete defense and commercial coverage for our customers and partners.”

ABOUT ASCENT SOLAR TECHNOLOGIES, INC.

Backed by 40 years of R&D, 15 years of manufacturing experience, numerous awards, and a comprehensive IP and patent portfolio, Ascent Solar Technologies, Inc. is a leading provider of innovative, high-performance, flexible thin-film solar panels for use in environments where mass, performance, reliability, and resilience matter. Ascent’s photovoltaic (PV) modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, in industrial/commercial construction as well as an extensive range of consumer goods, revolutionizing the use cases and environments for solar power. Ascent Solar’s research and development center and 4.5-MW nameplate production facility is in Thornton, Colorado. To learn more, visit https://www.ascentsolar.com or follow the Company on LinkedIn and X (formerly Twitter).

FORWARD-LOOKING STATEMENTS

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" including statements about the financing transaction, our business strategy, and the potential uses of the proceeds from the transaction. 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. We have based these forward-looking statements on our current assumptions, expectations, and projections about future events. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “will,” "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations. 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 including those discussed under the heading “Risk Factors” in our most recently filed reports on Forms 10-K and 10-Q.

MEDIA CONTACT

Spencer Herrmann
FischTank PR
ascent@fischtankpr.com

INVESTOR CONTACT

ir@ascentsolar.com