North Coast Solar Stocks

April 23, 2009

Bye Aerospace, Inc. Announces Memorandum of Understanding with Ascent Solar Technologies, Inc.

Filed under: ASTI — Tags: , , — Jason @ 6:00 am

Thursday April 23, 2009, 6:00 am EDT

LITTLETON, Colo.–(BUSINESS WIRE)–Ascent Solar Technologies, Inc. (ASTI), a developer of state-of-the-art flexible thin-film solar modules, announced today that it has signed a Memorandum of Understanding to incorporate thin film photovoltaic (PV) technology into aircraft platforms under development at Bye Aerospace.

George Bye, CEO of Bye Aerospace, commended Ascent Solar for its superior technology and how well its products align with Bye Aerospace’s strategy. “We are planning to utilize multiple sources of energy, and Ascent Solar’s PV technology is an ideal solution for capturing valuable solar energy,” Bye said. Bye Aerospace, working in conjunction with its subsidiary company, Bye Energy, Inc., is adapting alternative energy technology for aviation. “We hope to begin bench testing with Ascent Solar’s thin film PV technology before year end,” Bye said.

Dr. Joseph Armstrong, Chief Technical Officer of Ascent Solar, stated, “Applications such as those being developed by Bye Aerospace are able to utilize the many advantages of our high-performance CIGS on polyimide PV technology such as monolithic integration, low mass and flexibility for conformal installation. These advantages allow our product to adapt to many applications, from aerospace to building integrated PV (BIPV), portable power and consumer electronics, and our work with Bye represents one of many development agreements we have to meet customer needs. Products to support Bye Aerospace will be manufactured from our existing 1.5MW production line.”

About Bye Aerospace, Inc.

Bye Aerospace, founded in 2007 and headquartered near Denver, is applying clean energy solutions to innovative aircraft design for the business aviation and Department of Defense markets. For more information, go to http://www.ByeAerospace.com.

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