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The company said its CIGS PV modules have been certified as capable of receiving beamed power. This method uses electromagnetic waves to transmit energy through space.
Ascent Solar Technologies Inc. (ASTI) announced that it received an order for an advanced space module redesign after evaluation from a potential customer.
The stock witnessed see-saw movement on Thursday, rising by nearly 5% in the regular trading session and then falling by 5% during the after-market hours.
Ascent Solar is a Colorado-headquartered photovoltaic company that makes flexible copper gallium iridium selenide (CIGS) solar cells on a plastic substrate.
The company said its CIGS PV modules have been certified as capable of receiving beamed power. This method uses electromagnetic waves to transmit energy through space.
While Ascent Solar developed and delivered its beamed-power CIGS PV module within a month, its potential customer has sought further design enhancements.
“As interest grows for power beaming and space-based solar power, our thin-film PV technology will stand out as a clear solution for maximizing efficiency while mitigating the risks around solar solutions in space,” said Ascent Solar CEO Paul Warley.
This nano-cap company currently has a market capitalization of $2.37 million, and its stock is currently close to its 52-week low of $1.50.
Retail sentiment on Stocktwits around Ascent Solar soared, rising further in the ‘extremely bullish’ territory. Message volumes similarly spiked to ‘extremely high’ levels.
One user said the stock’s performance in the pre-market session on Friday will be “interesting.”
Another expressed caution about the stock’s low float, but noted that they will keep an eye on its performance on Friday.
Ascent Solar’s stock has lost over 45% of its value year-to-date.
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