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Ascent Solar Technologies, Inc. (ASTI) Expands Into India via Strategic Alliance with Kirloskar Integrated Technologies

Ascent Solar Technologies, Inc., a developer of special thin-film photovoltaic (PV) modules which feature unique substrates that offer cost-saving and functionality bonuses over existing ones in the market, recently announced a strategic alliance with India-based industrial and engineering conglomerate Kirloskar Integrated Technologies Ltd.

The multi-phase agreement represents the culmination of a memorandum of understanding signed in 09, and calls for immediate implementation of a marketing and distribution push for ASTI’s flexible copper indium gallium selenide (CIGS) PV module, targeting complementary products and businesses throughout India, with special emphasis on off-grid rural power, defense, consumer portable power, hybrid solar and diesel backup systems.

Once this push is underway, the second phase – wherein a standalone module assembly plant is established in India to fulfill supply chain demand – can begin in anticipation of the third phase, which calls for the production base in India’s expansion to include complete end-to-end module production capability.

CEO of Kirloskar, L.A. Joshi, cited his company’s mission of providing “decentralized sustainable solutions based on renewable resources”, including a proven track record with anaerobic digestion of organic waste and biofuel production, as proficiencies perfectly suited to the addition of ASTI’s revolutionary PV technology – a combination Joshi feels will surely strengthen Kirloskar’s lead in India’s distributed power generation market.

Joshi was pleased to have Ascent on board as the move to capture much of the untapped off- and on-grid market for this application was undertaken, and he pointed to “favorable policies of the Indian government” as further evidence that the symbiotic relationship formed between the two companies would enable them to seize the lead role in India’s PV market.

President and CEO of Thornton, Colorado-based ASTI, Farhad Moghadam, affirmed Joshi’s statements by saying that the relationship between the two companies provides ASTI a huge opportunity to break into multiple new markets inside India’s booming economy, and strongly stated his faith in Kirloskar’s wide range of “strong relationships, established sales and marketing channels in key target markets”.

Moghadam stated his immense pleasure at this chance to generate returns for the shareholders by tapping into India’s wide range of off- and on-grid PV demands, and to do so in a way that allows ASTI to establish a firm foothold in one of the world’s fastest growing economies.

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