Ascent Solar Technologies Selected by U.S. Air Force for Advanced Flexible Lightweight Photovoltaics

  Ascent Solar Technologies Selected by U.S. Air Force for Advanced Flexible
  Lightweight Photovoltaics

    New Technology to Benefit Products that Operate at Higher Temperatures

Business Wire

THORNTON, Colo. -- November 05, 2012

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
state-of-the-art, flexible thin-film photovoltaic modules, announced today
that it has been selected for an Air Force Small Business Innovative Research
(SBIR) Phase 2 award to demonstrate a next-generation photovoltaic product
that builds upon its award-winning flexible monolithically integrated
copper-indium-gallium-diselenide (CIGS) technology.

Subject to contract finalization, the Air Force SBIR Phase 2 program is
expected to run 24 months with a program value of up to $750,000.

“Solar cells perform best at lower temperatures, but they can get hot during
normal operation,” stated Victor Lee, President and CEO at Ascent Solar
Technologies, Inc. “Modifying our existing technology can improve its
performance at higher temperatures. This Air Force program builds upon
significant work already conducted by our team in this area. After program
completion, we envision a new product that will perform over 30% better under
some operating conditions that utilize process modifications that can be used
in our existing manufacturing line.”

AboutAscent Solar Technologies, Inc.

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic
modules using flexible substrate materials that can transform the way solar
power generation integrates into everyday life. Ascent Solar modules, which
were named one of TIME Magazine's 50 best inventions for 2011, can be directly
incorporated into standard building materials, commercial transportation,
automotive solutions, space applications, consumer electronics for portable
power and durable off-grid solutions. 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. 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.

Contact:

Ascent Solar Technologies, Inc.
Investor Relations:
CleanTech IR
Brion Tanous, 310-541-6824
Mobile: 424-634-8592
btanous@cleantech-ir.com
or
ir@ascentsolar.com
720-872-5140