Ascent Solar to Focus on Serving High Value, Emerging Markets
News - Staff reports
Author: CompoundSemi News Staff
April 4, 2011... Ascent Solar Technologies reports that it will be changing strategies. The company reportedly plans to shift its primary focus from building applied and building integrated photovoltaics to specialty applications. These specialty applications include:
military and defense; custom near-space applications; off-grid charging solutions in developing countries; power for portable electronics; and custom and standard products for rooftop integration on buses, trucks and trains.
The company believes that it can sell products in these markets at more attractive margins than currently possible for ground mount applications or BIPV and BAPV markets.
With the change in strategy, CEO Farhad Moghadam is stepping down to pursue other interests and opportunities. Ron Eller, an Ascent board member for the past two years, has been appointed the company's new President and CEO. Mr. Eller has 25 years of experience and ran various divisions in the enterprise businesses of Hewlett Packard and Compaq Computer Corporation.
Board chairman Dr. Amit Kumar noted that BIPV/BAPV products are still an important for the business's long-term growth and success, and business development, testing and certification will continue for the products will continue.
"A number of economic considerations, including the serious reduction of government subsidies in major markets in Europe, indicate that these markets will be under some near term pressure," said Dr. Kumar. "Therefore, in the near term, we will focus our manufacturing and sales activities on emerging, high-value, specialty market applications." Dr. Kumar also noted that the company would be reducing staffing and operating costs.
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