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THORNTON, Colo.--([ BUSINESS WIRE ])--Ascent Solar Technologies, Inc. (NASDAQ:[ ASTI ]), a developer of lightweight flexible thin-film photovoltaic modules, announced today the winners of its company sponsored Innovative Design Competition. The winning team of students from Boston University, whose team developed a portable solar powered water purification system, won first place as well as the Grand Prize of $10,000 and a visit to Ascentas world headquarters and manufacturing facility in Colorado. Second place was awarded to the team from University of California Berkeley, who developed a scalable system of solar panels with a unique, flexible attachment method. Third place went to the team from Texas A&M University for their development of a solar integrated beach umbrella.

The competition, which began in August, 2011, included teams from Boston University, San Diego State University, Texas A&M University, University of California Berkeley and two teams from the University of Oregon, in a competition to develop the most innovative applications for Ascentas lightweight and flexible solar panels. The teams each developed working prototypes of their designs, which were enabled using lightweight, flexible, glass-free solar modules provided by Ascent Solar. In addition, Ascent provided financial support to the teams allowing them to fully explore the full potential of portable power.

Ascent would like to congratulate the winners of the Innovative Design Competition and thank all of its participants for their inspiring work in developing new applications for lightweight, flexible solar panels.

About Ascent Solar Technologies, Inc.

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible than most traditional solar panels. Ascent Solar modules can be directly integrated into military and space applications, building integrated applications, and consumer electronics for portable power or configured as stand alone modules for large scale terrestrial deployment. Ascent Solar is located in Thornton, Colorado. For more information about Ascent Solar, please visit [ 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.