Ascent Solar Technologies, Inc. (NASDAQ: ASTI) shares enjoyed small gains Tuesday. The leading U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions announced today that it has achieved cell production efficiency of 15.2% in its CIGS solar technology, a significant increase from the 10.8% standard efficiency measured for production material in 2012. This increase is attributed to the targeted optimization of the existing Cadmium Sulfide (Cds) deposition and manufacturing processes behind the Company’s CIGS technology.
Parallel development efforts have been successful in the replacement of the Cds deposition in the production process. Cds is a known harsh material, which ASTI has strategically sought to shift away from, to limit hazardous production components and eliminate the need for specialty waste mitigation processes.
The preliminary efficiency measurements of this next generation material (which utilizes Zinc Oxysulfide in lieu of Cds) indicate that yields are 5% to 8% higher than that of Cds, which would translate to a theoretical efficiency of 16% to 16.4%. With continued promising results such as these production trials, the Ascent team is redefining what is possible for thin-film CIGS technology efficiencies through consistent ongoing process optimization, guided by decades of manufacturing experience.
These efficiency improvements reflect the confidence in Ascent’s product portfolio, as well as the brand’s strategic direction, growth opportunities, and leadership to execute upon its vision.
ASTI shares picked up 0.3 cents, or 4.9%, to 5.7 cents.
