Ascent Solar Technologies Inc (NASDAQ:ASTI) stock jumped 8.7% in premarket trading Wednesday after unveiling a strategic collaboration with Defiant Space Corporation aimed at the U.S. defense and national security markets.
The alliance will merge Ascent’s flexible, space-proven thin-film photovoltaic technology with Defiant’s expertise in developing specialized space solutions. The partnership seeks to meet the increasing demand for durable, cost-efficient technologies that support defense and security missions.
The two companies also plan to explore opportunities beyond the U.S., targeting allied and international space sectors, including NATO and Five Eyes member nations. This expansion leverages Defiant’s strategic partnerships along with Ascent’s proprietary solar technology.
“Partnering with Defiant neatly aligns with Ascent’s mission to deliver lightweight, flexible and highly durable solar solutions to the most demanding markets,” said Paul Warley, CEO of Ascent Solar Technologies.
Jeromy Grimmett, Chief Strategy Officer of Defiant Space, added: “By working with Ascent Solar, we can advance innovative technologies that align with critical mission needs while also creating new opportunities abroad for U.S.-developed space capabilities.”
The collaboration positions both companies to take advantage of the rapidly growing global space economy, projected to reach $1 trillion by 2040.
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