Ascent Solar Tech (NASDAQ: ASTI)
Ascent Solar isn’t having the best time in the market as of late. However, don’t let current market movement fool you, chances are that this stock is going to climb. There are several reasons for my opinion on this. They include achievements, contracts, and more. Today, we’ll talk about what we saw recently from ASTI earnings, details on recent contracts, and what we cane expect to see from ASTI moving forward. So, let’s get right to it…
Ascent’s Huge Solar Achievement
ASTI recently announced a big breakthrough in the solar space, specifically in space and in near-space applications. In these applications, lightweight and high performance solar panels are very important. With that said, ASTI recently achieved a record 1,700 watts of power produced per kilogram of weight. As a result, future solar panels made for in space and near space applications can now weigh up to 60% less than conventional solar options for these applications. In a statement, Dr. Joseph Armstrong, CTO and co-founder of ASTI had the following to say about the achievement…
“There are several exciting aspects of this major breakthrough that make it significant for Ascent Solar… Ascent’s proprietary technology and unique manufacturing approach is ideally suited for space and near-space applications, as we are the only producer that utilizes both flexible copper-indium-gallium-selenide (CIGS) PV and monolithic integration. Our flexible substrate is the lightest of any in production, and monolithic integration results in a cell layout that is ideal for high intensity sunlight found in the space environment. Additionally, our modules can dramatically reduce the part count by over 90% compared to existing space solar array construction, thereby making assembly of large solar arrays for space and near-space applications easier, more cost effective, and more reliable. While the design specifications for the modules were optimized for the space environment, they will be very useful for other applications such as unmanned aircraft, drones, as well as other terrestrial applications.”
GSA Schedule 56 Contract
Another big piece of news for ASTI came out in December of last year. In the month, ASTI was granted the GSA Schedule 56 contract. Under the new contract, government entities like the United States Armed Forces, United States Forest Services, and more can easily purchase products produced by Ascent Solar. This is incredibly important because there are several reasons for which US government agencies would need lightweight solar technologies like those offered by ASTI. Ultimately, this will lead to increasing sales and increasing revenue for the company.
The Bottom Line
The bottom line here is that Ascent Solar has quite a bit going for them. With the new lightweight and high productivity panels for in space and near space applications, the company is likely to generate a large amount of revenue and solid earnings. Also, with the GSA Schedule 56 contract in mind, we are likely to see incredibly strong sales from the biggest customer in the United States, the United States government. That in combination with new patents and a clear plan for growth shows that ASTI is likely to climb in a big way moving forward!
What Do You Think?
Where do you think ASTI is headed and why? Let us know your opinion in the comments below!