Ascent Solar Technologies, Inc. (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight and flexible thin-film photovoltaic (PV) solutions (“Ascent” or the “Company”), announces that its PV solution specially designed for a flight experiment conducted by NASA’s Materials International Space Station Experiment (MISSE-X),  exceeded performance and power retention expectations; validating Ascent’s ability to create solar power solutions custom-designed for the extreme conditions that are unique to the space industry. The results of the experiment were announced by NASA at its 26th Space Photovoltaic Research and Technology (SPRAT) conference held virtually on October 20, 2021 from Cleveland, OH.

At the conference, Dr. John Carr, Deputy Center Chief Technologist for NASA MSFC, presented data that validated the performance of Ascent Solar’s flexible CIGS PV in ground-based space environmental testing with appropriate space protective coatings.  The NASA MSFC data results correlated with the performance of the International Space Station (ISS) in relation to the MISSE-X flight experiment.  This flight experiment resulted in Ascent’s PV retaining 92% of its beginning of life (BOL) power, exceeding the NASA MSFC ground data predictions for approximately one year in orbit.  This data was summarized as part of the ongoing investigations conducted by the NASA MSFC, into the viability of lower-cost PV technologies and solutions, and the significant advantages they may have over the current ‘space power’ technologies.

Ascent’s flexible, ultra-lightweight, monolithically-integrated PV are based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. As with other space programs, NASA MSFC began investigating the Company’s flexible monolithically-integrated CIGS several years ago for a wide range of applications. This includes its use in both the upcoming LISA-T demonstration, which is part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat (slated for launch in 2022), and the upcoming Solar Cruiser.

Dr. Joseph Armstrong, Founding Team Member, Chief Technology Officer and Chief Operating Officer of Ascent Solar, said, "We are extremely pleased with both the reported ground test results, as well as how the predictions from these results were exceeded by the actual MISSE-X flight experimental results. The inherent radiation resilience of our lightweight, flexible PV technology, coupled with the robustness of the monolithic integration process, has shown itself as a unique, robust solution for space. In fact, the only true but positive surprise from the MISSE-X was that the bare control sample of our CIGS module actually retained nearly 76.1% of its BOL power, despite having no protective cover and visible damage from ultraviolet light and atomic oxygen.  Data presented at the conference indicate that we are ready for more challenging assignments, such as LISA-T and Solar Cruiser, and also reinforce the choice from other customers who are developing future applications using our PV material. We commend the NASA teams who have been able to provide us with these data under very challenging environments here on earth as well."

Victor Lee, President and CEO of Ascent Solar Technologies, concluded, "I want to congratulate and commend our team, along with those at NASA and our industry partner, NeXolve who have worked diligently on this project for many years. These test results certainly set the stage for the potential of Ascent’s future involvement with LISA-T and Solar Cruiser, as well as some internal projects, that are designed for Ascent to advance to TRL (Technology Readiness Level) 7 and eventually Level 8 (Space Qualified) in the near future. The space community is extremely prudent and takes no chances for failures, hence these early flight opportunities that would establish higher TRL will encourage the industry to adopt our flexible, robust, very-high specific power, PV product in the near future.”

ABOUT ASCENT SOLAR TECHNOLOGIES, INC.

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels.  Ascent Solar modules were named as one of the top 100 technologies by R&D Magazine, and one of TIME Magazine's 50 best inventions. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado, and more 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. 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.

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