Ascent Solar’s losses outweigh revenue for 2014

March 19, 2015
Facebook
Twitter
LinkedIn
Reddit
Email

Flexible CIGS thin-film producer Ascent Solar Technologies reported 2014 annual revenue of US$5.33 million on net losses of US$43.3 million. 

Ascent Solar’s product sales, which target consumer, commercial and military applications in primarily portable energy applications topped US$5.0 million in 2014, supported by US Government R&D projects worth US$323,123. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Revenue increased by 308% from the previous year, while R&D project revenue increased by US$124,000 from the prior year. 

A key part of Ascent Solar’s losses were attributed to research, development and manufacturing operation costs, which totalled U$24.5 million in 2014, compared to US$21.3 million in 2013. 

Loss from operations increased from US$28.2 million in 2013 to US$33.9 million in 2014, due to an increase in advertising, marketing and promotional expenses, according to the company.

Ascent Solar completed a US$35 million preferred stock and convertible debt financing with an institutional investor in the fourth quarter of 2014 to improve liquidity. 

“I am excited about the potential of the Company after delivering our first ever $5M revenue mark in the history of Ascent Solar,” said Victor Lee, President and CEO of Ascent. “With the ongoing expansion of our distribution channels, I am optimistic to set yet another significant revenue milestone of over $10M. The reconstruction of Ascent Solar in the past 3 years is beginning to yield results, and we are fully prepared to execute our business plan.”

The company guided 2015 revenue to be in the range of US$10 million to US$12 million. 

Read Next

January 6, 2026
Potentia Energy has raised AU$830 million in portfolio financing to support its renewable energy operations and development across Australia.
January 6, 2026
Leading Chinese module manufacturer Trinasolar has announced two new agreements with ACWA Power for projects in Saudi Arabia.
January 6, 2026
The Colombian National Environmental Licensing Authority (ANLA) has granted environmental approval to a 200MW solar PV project in the Chiriguaná area of Northern Colombia.
January 6, 2026
US utility Consumers Energy has started operations at its 250MW Muskegon solar PV project, its largest in the US state of Michigan.
January 6, 2026
The Chinese government has released a range of policy measures to strengthen intellectual property (IP) protections in the country’s solar PV industry.
January 6, 2026
Up to one-fifth of solar PV modules degrade 1.5 times faster than average, according to new research from the University of New South Wales.

Upcoming Events

Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
November 24, 2026
Warsaw, Poland