TFG Radiant Group Saves Ascent Solar $ASTI – August 15, 2011
CIGS solar vendor Ascent Solar has found a savior.
A few months ago, we had begun to prepare the obituary for flexible CIGS solar manufacturer Ascent Solar (NASDAQ: ASTI) — one of the casualties of the solar shakeout.
In April, the Thornton, Colorado-based Ascent had a market capitalization of $69 million. 2010 sales were a mere $811,000. The market capitalization of the company has since dropped to $23.78 million.
At the end of the first quarter of 2011, the firm was in the midst of a major strategy shift — moving from building-integrated and building-applied PV to niche markets like military and defense; off-grid charging solutions in developing countries; power for portable electronics; and products for rooftop integration on buses, trucks, and trains.
Ascent believed that it could sell its products in these markets at more attractive margins than were possible for ground-mount applications or BIPV markets.