GlobeNewswire Inc | Oct 27, 2021 06:00AM EDT

October 27, 2021

THORNTON, CO, Oct. 27, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ascent Solar Technologies, Inc. (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight and flexible thin-film photovoltaic (PV) solutions (Ascent or the Company), announces that the Company is a proud recipient of a selective Innovation Award at the Defense TechConnect (DTC) Conference, held on October 18-21, 2021, in National Harbor, MD.

DTC is an event focused on connecting top US Department of Defense (DoD) offices and industry scouts with the world's best innovations. It brings together defense, private industry, federal agency, and academic leadership to accelerate state-of-the-art technology solutions for the military and the interest of national security. This year's key focus areas included energy, climate, cyber, biodefense, space, advanced manufacturing, and 5G. The DTC supports innovation imperatives in the National Defense Strategy (NDS) and is a unique platform to reach thousands of public and private leaders focused on innovation and technology to support the warfighter.

Ascent's Innovation Award was in the Energy and Infrastructure Resilience category. The award was a strong validation of Ascents ability to demonstrate its high suitability-for-purpose in providing expeditionary mobile power for multiple aspects of the NDS. Through increasing applications both in the air, on the ground, and in surface/submerged marine environments spanning the Dismounted Warfighter, Defense Space/Aerospace, Unattended Ground Sensors, and Unmanned Vehicles, Ascent acts as a force-multiplier for the foreseen methods of adversarial engagement.

We feel privileged to be part of Defense TechConnect and the DoDs continued effort to assess and help bring together technologies and users that will provide the DoDs fighting forces with increasingly resilient capabilities for providing expeditionary power on the battlefield aimed at ensuring success when engaged with adversaries, stated Joe Kigin, Chief Revenue Officer and SVP of Government Relations for Ascent. In a time where the primary theater of engagement is increasingly austere and logistically-encumbered, we believe that our breadth of capability will help provide the warfighter with critical advantages on the battlefield. The recent strategy of Agile Combat Support (ACS) embraced by the DoD is one that we look forward to supporting today and into the future.

We look forward to continuing to serve the DoD as they seek to utilize mission-critical technologies such as Ascents lightweight ruggedized PV to help keep our warfighters safe and operating at optimum efficiency, said Victor Lee, President and CEO of Ascent Solar. Developing disruptive PV technology capable of providing both Commercial-off-the-shelf (COTS) portable power capability as well as facilitating seamless integration into todays state-of-the-art weapon systems separates Ascent from the competition and puts us in a very unique position to help ensure battlefield dominance for the DoD.

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, and more information can be found atwww.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