Bye Aerospace, Inc. Announces Memorandum of Understanding with Ascent Solar Technologies, Inc.

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state-of-the-art flexible thin-film solar modules, announced today that it has signed a Memorandum of Understanding to incorporate thin film photovoltaic (PV) technology into aircraft platforms under development at Bye Aerospace.

LITTLETON, Colo.-- Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state-of-the-art flexible thin-film solar modules, announced today that it has signed a Memorandum of Understanding to incorporate thin film photovoltaic (PV) technology into aircraft platforms under development at Bye Aerospace.


George Bye, CEO of Bye Aerospace, commended Ascent Solar for its superior technology and how well its products align with Bye Aerospace's strategy. "We are planning to utilize multiple sources of energy, and Ascent Solar's PV technology is an ideal solution for capturing valuable solar energy," Bye said. Bye Aerospace, working in conjunction with its subsidiary company, Bye Energy, Inc., is adapting alternative energy technology for aviation. "We hope to begin bench testing with Ascent Solar's thin film PV technology before year end," Bye said.

Dr. Joseph Armstrong, Chief Technical Officer of Ascent Solar, stated, "Applications such as those being developed by Bye Aerospace are able to utilize the many advantages of our high-performance CIGS on polyimide PV technology such as monolithic integration, low mass and flexibility for conformal installation. These advantages allow our product to adapt to many applications, from aerospace to building integrated PV (BIPV), portable power and consumer electronics, and our work with Bye represents one of many development agreements we have to meet customer needs. Products to support Bye Aerospace will be manufactured from our existing 1.5MW production line."

About Bye Aerospace, Inc.
Bye Aerospace, founded in 2007 and headquartered near Denver, is applying clean energy solutions to innovative aircraft design for the business aviation and Department of Defense markets. For more information, go to www.ByeAerospace.com.

About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, space applications, consumer electronics for portable power or configured as stand alone modules for large scale terrestrial deployment. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to Ascent Solars website.

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 expressed 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 the Securities and Exchange Commission.

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