Ascent Solar Sign Cooperative Development Agreement wirh Solar Cell Developer

Ascent Solar Technologies, Inc. announced today that it has entered into a definitive cooperation agreement with ICP Solar Technologies Inc. Pursuant to the agreement, Ascent Solar will provide ICP Solar with thin-firm photovoltaic (PV) material from Ascent Solar's existing 1.5 MW production line in 2008 and 2009, during which time ICP Solar will develop, test, and integrate Ascent Solar's PV materials into ICP Solar's portable power and other electronic integrated PV products.

“We are excited to partner with Ascent," said ICP Solar CEO and Chairman Sass Peress. "At ICP Solar, our mission is to be at the technology forefront when it comes to solar consumer products and portability. Ascent's CIGS thin-film technology is well suited to those applications. Placing the PV material and modules on flexible, lightweight, plastic substrate materials allows for manufacturing of similarly lightweight and flexible solar panels, which will expand our new product development opportunities. We look forward to a mutually beneficial partnership.”

“ICP Solar's expertise in the portable consumer solar products industry and its international distribution network make ICP Solar an excellent partner,” said Matthew Foster, Ascent Solar's President and CEO. “We believe that our CIGS thin-film technology is well suited for use in portable solar power and other electronic integrated PV products.”

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