Ascent Solar Technologies, Inc. (NASDAQ:ASTI) stock surged after it was revealed that the company has entered into a 12-month collaboration with NASA.
The company will be working with the space agency’s Marshall Space Flight Center and Glenn Research Center to develop and mature commercial copper-indium-gallium-selenide (CIGS) thin-film photovoltaic (PV) modules for space power applications involving beamed power technology.
This beamed power capability could enable spacecraft to receive up to 10 times more power on demand using the same PV cells.
In turn, this could reduce the mass and volume of solar arrays needed on spacecraft, which adds weight and size. By reducing these, the technology lowers mission costs, complexity, and risks, while allowing more payload capacity for scientific instruments and exploration technologies within limited mission budgets.
The company will contribute design and prototyping services, with NASA providing technical subject matter expertise and test services.
The collaboration aims to support NASA's Commercial Lunar Payload Services missions and broader Artemis lunar exploration goals.
“This collaboration with NASA further bolsters our longstanding belief that the unique capabilities of thin-film solar technology will play an integral role in overcoming the challenges of reliably converting solar energy and also receive beamed power in a breadth of harsh space environments,” Ascent Solar CEO Paul Warley said in a statement.
“Through our work together, we plan to bring an even more capable product line to market that will reduce mission costs and complexities while improving PV efficiency, making our technology a crucial piece of future space missions.”
Shares of Ascent Solar had jumped 172% to $3.08 late morning on Thursday.