Ascent Solar makes substantial paydown of outstanding debt

By Marisa Wong

Los Angeles, Oct. 12 – Ascent Solar Technologies, Inc. announced it has reduced its remaining outstanding debt to $1.7 million, according to a press release.

The company applied proceeds from a recent public offering toward the debt reduction.

The company said the paydown “aligns with leadership’s commitment to reduce leverage as it executes its strategy to increase the efficiency of its thin-film PV module and commercialize its technology with the goal of achieving profitability.”

Ascent is a Thornton, Colo.-based company that develops thin-film photovoltaic materials.

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