Ascent Solar Announces Filing of Registration Statement

Business Wire, March 14, 2008

LITTLETON, Colo. -- Ascent Solar Technologies, Inc. (NASDAQ:ASTI) announced today that it has filed a registration statement with the Securities and Exchange Commission for the proposed offering by Ascent Solar of shares of its common stock. Proceeds from the offering are expected to be approximately $80 million before deducting underwriting discounts and commissions and estimated offering expenses. Ascent Solar intends to use the net proceeds from the offering for the design, purchase, installation, qualification and testing of production tools for approximately 30 MW of rated capacity for the production of thin-film photovoltaic modules, and for general corporate purposes.

Bear, Stearns & Co. Inc. is serving as sole book-running manager for the offering. Cowen and Company, LLC., Jefferies & Company, Inc. and Merriman Curhan Ford & Co. are serving as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, copies of the preliminary prospectus relating to the offering may be obtained from Bear, Stearns & Co. Inc., Prospectus Department, 383 Madison Avenue, New York, New York 10179, toll free at (866) 803-9204.

About Ascent Solar Technologies, Inc.

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules and is located in Littleton, Colorado.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." 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 expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. 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 Securities and Exchange Commission.