Ascent Solar posts $27 million operating loss for 2013
Post date: 10/03/2014
US-based CIGS module manufacturer Ascent Solar Technologies Inc. nearly doubled its product revenue in 2013, offsetting a sharp decline in government contracts. Total revenue for 2013 came to $1.3 million, up slightly from $1.2 million a year earlier. Product revenue accounted for nearly $1.2 million of total revenue, while revenue from government contracts came to just $200,000, less than a third of what it was in 2012. Annual net loss, meanwhile, came to $28.9 million compared to a loss of $28.8 million a year earlier. The company’s operating loss came to $27.0 million.
In January, Ascent signed a definitive agreement with the government of the Municipal City of Suqian, Jiangsu Province, China to establish a joint venture in Suqian that will manufacture Ascent’s CIGS modules and related consumer products. The 100 MW facility will be built over 6 years, with the first 25 MW phase due to come online in the first quarter of 2016. Ascent currently produces its CIGS thin-film products at its factory in Thornton, Colorado. Ascent makes a number of off-grid and solar-power consumer electronics products, including solar and battery cases for mobile phones and portable solar chargers.