Ascent Solar Technologies Inc. (NASDAQ: ASTI) achieved significant milestones in 2025 through expansion into the space market, positioning the company for strength in 2026. The maker of featherweight, flexible, and durable CIGS thin-film photovoltaic solutions engaged with strategic partners including NASA and defense contractors, with customers choosing its solar panels for performance in extreme environments, low light conditions, and due to their lightweight, bendable nature.
A key example of this technology deployment is the company's deal with NOVI Space Inc., a space company that makes and operates AI-powered satellites. In March, the two inked a Master Services Agreement under which Ascent is providing NOVI with rollable PV array blankets to deliver real-time Earth Observation insights directly from space. These PV array blankets will be used in NOVI's AI edge processing constellation slated to launch in early 2026. Beyond technology advantages, NOVI selected Ascent because of its ability to deliver solar arrays in six to eight weeks, significantly faster than the industry standard of nine to twelve months. This rapid delivery capability represents a key differentiator for Ascent in the competitive space market.
Ascent is also collaborating with NASA Marshall Space Flight Center, with support from NASA Glenn Research Center, to develop technology that can receive beamed power using its PVs. This technology involves beaming energy from satellites or orbital vehicles to thin, flexible PV panels affixed to spacecraft via microwave or laser beam. Once captured in the CIGS PV modules, spacecraft can operate for longer periods with greater range while being lighter and less expensive to manufacture due to reduced parts and power equipment requirements. Additionally, an ocean monitoring company is testing Ascent Solar's PV functionality and durability in aquatic terrestrial applications to enable persistent operation of ocean-based monitoring technologies.
The company's market strategy extends beyond direct customer engagements to include strategic partnerships within the industry. Ascent recently partnered with CisLunar Industries, which makes advanced hardware and embedded control software for power conversion and conditioning, to develop long-lasting power solutions for extended commercial, civil, and defense space missions. Another strategic partnership with Defiant Space Corp., which provides space solutions for defense and national security markets, will pursue opportunities in U.S. defense and national security sectors. The company also signed an MOU with Star Catcher Industries, which is creating what it claims is the first space energy grid. According to the companies, by transmitting concentrated solar energy to clients' existing onboard solar arrays without new equipment, Star Catcher provides satellite operators with five to ten times more power, creating new market opportunities for Ascent.
To further advance its technology offerings, Ascent established several technical alliances during the year, including a deal with Emtel Energy USA to combine Emtel's graphene-based, long-duration energy storage (ELDES) with Ascent's PVs to power satellites, spacecraft, and other space architecture. These collaborations target a space solar market projected to reach $6.8 billion by 2040 according to industry projections.
Heading into 2026, Ascent ends 2025 with $2 million in gross proceeds from a private placement with potential for up to $3.5 million of aggregate proceeds upon full warrant exercise. The company's immediate focus includes adhering to an aggressive production schedule to deliver on booked orders for array deployments planned for the first quarter while advancing cell efficiency for its ASTI CIGS thin-film technology. The CEO's planned trip to the EU to meet with strategic satellite players and decision-makers could drive additional deals, customer wins, and collaborations, with Ascent anticipating more development and deliveries of solar arrays for European partners in the first half of 2026.
For the space market specifically, Ascent will continue advanced environmental testing during the first quarter to quantify performance in extreme space conditions, including radiation and atomic oxygen resilience testing, while continuing collaborations with partners secured in 2025. This comprehensive approach to market expansion through technology innovation, rapid delivery capabilities, and strategic partnerships positions Ascent Solar for continued growth in the evolving space technology sector.
