Ascent Solar Technologies Names New CEO
May 02 2023 - 04:05PM
GlobeNewswire Inc.
Ascent Solar Technologies, (Nasdaq: ASTI) (“ASTI” or the
“Company”), the leading U.S. innovator in the design and
manufacture of featherweight, flexible, and durable CIGS thin-film
photovoltaic (PV) solutions, announced today that the Board of
Directors has terminated Jeffrey Max, ASTI’s President and Chief
Executive Officer, effective April 26, 2023. The Company also
announced that it has named its Chief Financial Officer, Paul
Warley, as the Company’s Chief Executive Officer, effective
immediately. Mr. Warley will remain in his current role as CFO on
an interim basis until his replacement is appointed by the
Company's Board.
“We are thrilled that Paul has agreed to take on
this leadership role at Ascent during such an important moment in
the Company’s journey,” said David Peterson, Chairman of the Board
at Ascent Solar Technologies. “Paul brings tremendous financial and
executive leadership experience serving middle market companies,
that coupled with his depth of thin-film solar knowledge, will
propel the Company to its next phases of growth and commercial
adoption.”
Prior to joining Ascent as its Chief Financial
Officer in December 2022, Mr. Warley spent nearly 40 years
specializing in corporate turnarounds, restructurings, cross-border
trade and capital advisory mandates at Bank of America, Bankers
Trust, GE Capital, Deloitte Corporate Finance, and his consulting
firm, Warley & Company. The firm provided executive management,
capital and M&A advisory services to middle-market companies in
the manufacturing, service, construction, technology, oil and gas,
clean energy, food, retail and green-building sectors. Mr. Warley
graduated from The Citadel with a BS in Business Administration
with a concentration in accounting, and served in the U.S. Army,
attaining the rank of Captain.
“I am eager to continue working with the
talented Ascent team to build on the progress we have made this
year to commercialize our exceptional technology and re-establish
the Company as a leader in the thin-film PV industry,” said Paul
Warley, Chief Executive Officer at Ascent Solar Technologies.
“Following the acquisition of Flisom’s assets and the repurposing
of the Thornton plant as a Perovskite Center of Excellence, we are
confident the Company has a strong foundation and is well
positioned for growth. We are now capable of meeting market demand
in Europe, Asia and North America, while simultaneously advancing
R&D efforts of Perovskite – long considered a promising
material for next generation solar materials.”
ABOUT ASCENT SOLAR TECHNOLOGIES,
INC.
Backed by 20+ years of R&D, 17 years of
manufacturing experience, numerous awards, and a comprehensive IP
and patent portfolio, Ascent Solar Technologies, Inc. (ASTI) is a
leading provider of innovative, high-performance, flexible
thin-film solar panels for use in scenarios where traditional rigid
solar panels don’t work. Ascent’s photovoltaic (PV) modules have
been deployed on space missions, multiple airborne vehicles,
agrivoltaic installations, in industrial and commercial
construction, and in consumer goods, revolutionizing the use cases
and environments for solar power. Ascent Solar’s Headquarters &
Perovskite Manufacturing Center of Excellence are located in
Thornton, Colorado and Ascent’s 15MW manufacturing facility is
located in Zurich, Switzerland. To learn more, please
visit https://www.ascentsolar.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release that are not
statements of historical or current fact constitute
"forward-looking statements" including statements about the
financing transaction, our business strategy and the potential uses
of the proceeds from the transaction. 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. We have based these forward-looking
statements on our current assumptions, expectations and projections
about future events. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to
consider statements that contain terms such as “will,” "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
including those discussed under the heading “Risk Factors” in our
most recently filed reports on Forms 10-K and 10-Q.
MEDIA CONTACT
Spencer HerrmannFischTank
PRascent@fischtankpr.com
INVESTOR CONTACT
James MastersVallum
Advisorsir@ascentsolar.com
Ascent Solar Technologies (NASDAQ:ASTI)
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