Ascent Solar Enters into a Joint Development Agreement with GlobalWatt, Inc.

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, announced today that it has partnered with GlobalWatt, Inc., a specialty solar applications company, to develop a new line of adaptable, retractable solar modules to quickly add an extra source of power to existing solar applications.

The integration of an additional power unit without the weight and rigidity of a standard crystalline solar module will change the dynamics of existing and new specialty solar applications. In today’s world, DC based applications such as solar powered generators, water purifiers, and refrigeration systems are limited by how quickly the batteries can be recharged. In times of heavy usage or workload, these new solar modules will allow for faster charging and longer usage time, both without the need to add heavy solar modules.

“We initially plan to integrate Ascent’s cutting edge technology to our next generation of mobile solar generators and then introduce it across the board. We believe that quick, expandable power using Ascent’s CIGS modules will be synergistic to current crystalline technology as it can be a `stow and go' type power source,” said Dave Slivinski, VP of sales and marketing at GlobalWatt.

Robert Meck, VP of Product Application Development at Ascent Solar Technologies, Inc., stated: “The integration of Ascent’s high power density, low specific weight modules into GlobalWatt’s portable portfolio will enable an immediate increase in available deployable power generation without an increase in system weight. The flexibility and durability of Ascent CIGS modules are the perfect solution for lightweight, storable, portable power systems.”

About GlobalWatt:

GlobalWatt is a vertically integrated manufacturer of crystalline silicon solar modules that are used in a variety of market segments such as grid-connected, off-grid and specialty applications. The company’s focus is to develop and engineer cutting edge, solar powered products designed for use in the military, disaster relief, emergency response, the recreational industry and conventional off-grid scenarios. GlobalWatt is headquartered in San Jose, CA, with its main operations facility located in Saginaw, MI. For more information, please visit www.globalwatt.com.

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.

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 “may,” “will,” “should,” "believes," ”expect," "intend," "anticipate," "plan," “estimate” to be uncertain and forward looking. The forward-looking statements contained herein are also subject to risks and uncertainties that are described in our most recent annual report on Form 10-K under the heading “Risk Factors” and our subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements whether as a result of the receipt of new information, future events, or otherwise.

Ascent Solar Technologies - Warrants Class B 7/11/2011 (MM) (NASDAQ:ASTIZ)
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