North Coast Solar Stocks

September 22, 2009

Ascent Solar Signs Portable Power Product Supply Agreement

Filed under: ASTI — Tags: , , — Jason @ 8:00 am

Tuesday September 22, 2009, 8:00 am EDT

THORNTON, 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 direct supply agreement with Goal Zero LLC, a subsidiary of Provo Craft and Novelty, Inc., a consumer products company located in Utah. Under the terms of the agreement, Ascent Solar will supply up to 30,700 units of its “Premier” module through 2010. The modules have been designed for incorporation into a custom electronic portable power application scheduled to arrive on the market at the beginning of next year.

Robert Workman, Chief Development Officer of Provo Craft, stated “For over forty years, our mission at Provo Craft has been to inspire creativity by providing the best products, tools, education, ideas, and customer service. Our subsidiary Goal Zero LLC is bringing energy products to market that utilize Ascent Solar’s lightweight, flexible and high efficiency photovoltaic (PV) modules. Ascent Solar’s modules are advantageous for our modular, system level power solutions that we will be marketing worldwide early next year.”

Ascent Solar president and CEO Farhad Moghadam added “Electronic and portable power applications are a natural end product use of our material. Provo Craft is an excellent customer to have given their established presence as a recognized marketing leader, and Goal Zero LLC is well positioned to bring our modules to the international marketplace. We expect this to be the first of many ways that Ascent Solar can further differentiate itself from other traditional solar manufacturers.”

About Provo Craft and Novelty, Inc., and Goal Zero LLC:

Provo Craft and Novelty, Inc. was founded in 1964 and is based in Spanish Fork, Utah. Provo Craft had sales at about $250 million for 2008 and its revenue has increased 38 percent over the past two years. Provo Craft manufactures and distributes craft, hobby, and education products for school projects, as well as portable batteries, battery packs, and solar briefcases. Its products are sold in countries around the world, including Australia, Taiwan, France, and Brazil. Goal Zero LLC is a subsidiary of Provo Craft and Novelty, Inc. Additional information can be found at http://www.provocraft.com.

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