Bloomberg News

Ascent Gets $6 Million to Place Solar Chargers in Stores

June 04, 2014

Ascent Solar Technologies Inc. (ASTI:US), a maker of solar-powered phone chargers and backpacks, raised $6 million to increase production and get its products on store shelves later this year.

Ascent is in talks “to get into one of the bigger big-box retailers sometime this year,” Inbo Lee, vice president of corporate strategy, said today in an interview. “That’s what we’ve been working on very aggressively.”

Lee declined to name the retailer. The Thornton, Colorado-based company in October announced that its EnerPlex products would be available online through Wal-Mart Stores Inc. (WMT:US)

Ascent received its latest equity funding from Ironridge Global, and has raised more than $100 million since it was founded in 2005, Lee said. The company hasn’t reported a profitable quarter since it went public in 2006, according to data (ASTI:US) compiled by Bloomberg.

Ascent’s products include solar-powered charging cases for Apple Inc.’s iPhone and Samsung Electronics Co. (005930)’s Galaxy smartphone.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Jim Efstathiou Jr., Robin Saponar


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Companies Mentioned

  • ASTI
    (Ascent Solar Technologies Inc)
    • $1.15 USD
    • 0.02
    • 1.74%
  • WMT
    (Wal-Mart Stores Inc)
    • $86.91 USD
    • 0.48
    • 0.55%
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