Ascent Solar Makes Inducement Award to CEO

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of state-of-the-art flexible thin-film solar modules, announced today that it has completed a grant of options to purchase 200,000 shares of common stock to Farhad Moghadam, Ph.D., the company's President and Chief Executive Officer. The grant was made on August 3, 2009, Dr. Moghadam's start date, as an inducement award pursuant to Nasdaq Rule 5635(c)(4). The planned grant was previously disclosed in a Form 8-K current report filed July 14, 2009. The options have an exercise price of $7.76 per share, and will vest in equal amounts over four years. In the event of a "Change of Control" (as defined in Dr. Moghadam's employment agreement), the stock options will be subject to accelerated vesting. The grant was approved by the Compensation Committee of the Company's Board of Directors.

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, Colo. Additional information can be found at www.ascentsolar.com.

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.