Ascent Solar Chairman to Retire at End of Year
01 Septembre 2010 - 10:01PM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
state-of-the-art flexible thin-film solar modules, announced today
that its Chairman, Dr. Mohan Misra, will be retiring from his
position on the Board of Directors, effective December 31, 2010.
Dr. Misra has decided that due to his commitments to family and for
other personal reasons, he will retire from the Board. Dr. Misra is
65 years old.
Replacing Dr. Misra as Chairman of the Board will be current
Director, Dr. Amit Kumar. Dr. Kumar is an expert on photovoltaics
having performed his Ph.D. thesis research on solar energy
conversion devices at Stanford University and the California
Institute of Technology (“Caltech”). He has been an entrepreneur
who has built technology enterprises from start-up to public
listing. He has also worked in venture capital with Oak Investment
Partners and Acacia Research. Most recently, he was the CEO of the
NASDAQ listed biotechnology company, CombiMatrix. Dr. Kumar has
extensive strategic, financing, and business development
experience. He has strong contacts in academia as well as in the
federal government.
Dr. Kumar holds a B.S. degree in Chemistry from Occidental
College. After joint studies at Stanford University and Caltech, he
received his Ph.D. from Caltech before completing a post-doctoral
fellowship at Harvard University.
More information about Dr. Kumar can be found at
http://www.ascentsolar.com/bod/.
Dr. Kumar stated, “I am honored to be appointed Chairman of
Ascent, and I look forward to working with the team as we enter the
commercial phase of our development. Ascent’s thin film
photovoltaic cells, on a light, flexible substrate have the
potential to revolutionize and enable many solar energy
applications. Our challenge is large-scale manufacturing and we
have assembled a tremendous team to take us into that phase and
into commercialization. I want to personally and on behalf or
Ascent, thank Dr. Misra for his contributions to Ascent, and I look
forward to working closely with Dr. Moghadam and others to continue
building the company.”
“Dr. Kumar has been a tremendous contributor to Ascent, and I am
pleased that he will increase his involvement by taking on the
Chairmanship," stated Dr. Misra. "Ascent is entering a new phase of
its development as indicated by the beginning of our manufacturing
expansion activities. Our plant is running and we are working on
expanding capacity, improving cost metrics, and delivering product.
Also, considering certain family matters and other commitments, I
felt this was the right time for me to retire from the Board. I
will remain in my position until the end of the year, and I will
always be available to provide advice if needed. I want to thank
all past and present employees, shareholders, customers and
partners for all of the support provided to me and Ascent, and I
expect the most exiting days are ahead.”
“Dr. Misra founded Ascent and guided the company through our
early years. He has been instrumental in the development of our
revolutionary flexible, thin-film technology,” stated Dr. Farhad
Moghadam, the company’s President and Chief Executive Officer. “We
are delighted that he is making a commitment to family matters
after a lifetime of productive technology innovation. We thank him
for all of the valuable advice he has provided us, and are pleased
that he will continue to be an advisor to me and the company in an
unofficial role. Over the last year as CEO of Ascent, I have worked
closely with Dr. Kumar and have found him to be an incredibly
valuable advisor. I am looking forward to working with Amit as we
continue the development of Ascent.”
About Ascent Solar Technologies
Ascent Solar Technologies, Inc. is a developer of thin-film
photovoltaic modules with substrate materials that can be more
flexible and affordable than most traditional solar panels. Ascent
Solar modules can be directly integrated into standard building
materials, commercial transportation, automotive solutions, space
applications, consumer electronics for portable power or configured
as stand-alone modules for large scale terrestrial deployment.
Ascent Solar is headquartered in Thornton, Colo. Additional
information can be found at www.ascentsolar.com.
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