Thornton, CO - (NewMediaWire) - September 27, 2022 - Ascent Solar Technologies, Inc. (“Ascent Solar”, “Ascent” or the “Company”) (NASDAQ: ASTI), a developer and manufacturer of state-of-the-art, lightweight, flexible thin-film photovoltaic (PV) solutions, announced today that the Company has named Jeffrey Max as Ascent Solar’s new Chief Executive Officer.

As part of Ascent’s ongoing leadership transition, Jeffrey Max, a seasoned technology CEO with more than three decades of experience in scaling technology organizations, has succeeded Victor Lee as the Company’s CEO, effective immediately.  

David Peterson, the newly appointed board chair of the Company stated, “It is a privilege to welcome Jeff as our new CEO. He is a proven business leader with a wealth of knowledge and experience in building technology companies and advancing their market positions internationally. As we continue our transition as a newly listed company on Nasdaq, Ascent will benefit greatly from Jeff’s leadership.

“In addition to his extensive background as a CEO, serial entrepreneur and technology investor, Jeff has been a disruptive innovator in today’s evolving space industry. While Jeff understands the space and near space opportunities in front of us, we expect he will also be able to develop other verticals for Ascent’s PV solutions, such as agrivoltaics and sustainably powered infrastructure.”

Mr. Max stated, “Ascent has an incredible group of engineers, led by an incredible innovator and thought leader in PV technologies -- Dr. Joe Armstrong. This team, along with the committed dedication of Ascent’s previous leadership, has laid a strong foundation that allows me to integrate a mission-driven, industrial scale culture with the incredible experience and expertise of the Ascent team. This team has the innovation, execution and performance bona fides to ‘meet the moment’ with transformative solutions across a broad range of industries, from agriculture to deep-space missions.”

Information on our new CEO:

Jeffrey Max boasts over 30 years of experience as a hi-tech CEO, investor and entrepreneur known for his ability to drive scale at fledgling and developing companies. Jeff has founded, built, incubated, and successfully guided several companies to operations at a global scale, achieving multiple exits in industries such as financial services, mobile commerce, AdTech and aerospace. Jeff’s key competencies include product positioning and strategy, brand development, acquisition-driven growth, business development and turn-arounds.

From 2019 to 2022, Jeff was Chairman and CEO of Agile Space Industries, an in-space propulsion solutions provider, specializing in additively manufactured hypergolic chemical systems. During Jeff’s tenure, Agile was able to quickly expand into design and manufacturing, securing contracts to supply thrusters for multiple NASA lunar lander missions. Under his leadership, Agile grew from a team of 6 to over 60, and acquired Tronix3D, a contract based additive manufacturer specializing in 3D printing of exotic metal alloys.

For more information, please visit www.AscentSolar.com. 

ABOUT ASCENT SOLAR TECHNOLOGIES, INC

Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels. Ascent Solar modules were named as one of the top 100 technologies by R&D Magazine, and one of TIME Magazine's 50 best inventions. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado. More 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 "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations.  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.

Ascent Solar Technologies

Investor Relations: IR@AscentSolar.com

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