Ascent Solar Technologies (ASTI), a U.S.-based manufacturer of thin-film solar cells, has recently completed a significant transaction to acquire the 15-MW thin-film cell manufacturing assets of Flisom AG, a Switzerland-based company. The acquisition aims to support the EU energy transition while meeting the increasing demand for thin-film cells in the U.S., Europe, and Asia.
This strategic move represents a significant milestone in ASTI's turnaround plan, enabling the company to generate new committed contract revenue, expand production capacity, and establish an international presence. The transaction is expected to provide ASTI with new revenue streams in the luxury goods and building-integrated photovoltaics (BIPV) markets, as well as increase its nameplate capacity by 300%.
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ASTI's CEO, Jeffrey Max, emphasized the importance of this acquisition for the company's future success. “Our flexible, lightweight, and proven thin film is made for scenarios where traditional rigid panels cannot be used. By supporting the global push for more solar power and demonstrating the benefits of solar module form-factor diversity, we will establish ASTI as a global leader in the PV industry,” Max said.
The acquired assets can produce roll-to-roll thin-film outputs up to one meter wide and one kilometer long, enhancing production efficiency and competitiveness. ASTI plans to utilize these assets to fulfill Flisom's outstanding contracts, while also seeking to renew and expand customer contracts directly as the counterparty when they become due.
Thin-film cells have been gaining increasing traction attributed to their merits of cost savings, flexibility to cater to extensive applications and continuous improvements in efficiency. The acquisition of Flisom's manufacturing assets is a testament to ASTI's commitment to providing an alternative to traditional rigid crystalline panels, particularly in scenarios with constraints related to land, form-factor, or weight.
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ASTI will continue to be headquartered in Thornton, Colorado, after the transaction, and management expects the acquired assets to generate EBITDA-positive operations as early as the second half of this year.
Pioneers like Midsummer have also been exploring ways to combine silicon and thin-film technologies to create efficient tandem cells close to commercialization. As the solar industry continues to evolve, ASTI's acquisition of Flisom's assets demonstrates the company's dedication to innovation and leadership in the PV industry.
