Ascent Solar Technologies, Inc. (NASDAQ: ASTI) today announced that it has closed its previously announced public offering of 5.25 million shares of common stock at a price of $4.15 per share.

Ascent Solar received net proceeds, after offering expenses and underwriting discounts and commissions, of approximately $20.25 million. Ascent Solar expects to use the net proceeds from the offering for the completion of its FAB2 production plant and for general corporate purposes.

Cowen and Company, LLC acted as the sole book-running manager and Rodman & Renshaw, LLC and ThinkEquity LLC acted as co-managers in the offering. The offering was made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.

About Ascent Solar Technologies, Inc.

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 military and space applications, building integrated applications, and consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment. Ascent Solar is located in Thornton, Colorado. For more information about Ascent Solar, please visit 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.

Copyright Business Wire 2010