Ascent Solar’s losses outweigh revenue for 2014

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

June 5, 2026
French utility Engie will invest close to €100 million (US$114 million) in a 155MW solar PV project at its Castelnou power station. 
June 5, 2026
Lightsource has started construction on Queensland's 380MWdc Lower Wonga solar and 281MW/843MWh battery project.
June 5, 2026
Shareholders of Canadian IPP Boralex have approved the acquisition by global investment firm Brookfield Asset Management.
June 5, 2026
Tech giant Google and US renewable energy developer Intersect have partnered to develop a new data centre and energy complex in Texas.
June 5, 2026
The German Association of Energy and Water Industries (BDEW) has called for a reform of the country’s current inheritance tax treatment of agricultural land leased to ground-mounted solar PV.
Premium
June 5, 2026
PV Talk: Jenya Meydbray speaks with PV Tech about Nextpower's roadmap for its steel module frames and the advantages over aluminium frames.

Upcoming Events

Solar Media Events
June 16, 2026
Napa, USA
Media Partners, Solar Media Events
June 30, 2026
Sacramento, California
Media Partners, Solar Media Events
August 25, 2026
São Paulo, Brazil
Media Partners, Solar Media Events
September 1, 2026
Mexico City, Mexico
Media Partners, Solar Media Events
September 9, 2026