Ascent Solar Investor Presentation

Ascent Solar Technologies, Inc. Matthew Foster President and CEO

(NASDAQ Capital: ASTI) (BSE: AKC)

Safe Harbor:

Statements in this presentation 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 expresses 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 Securities and Exchange Commission.

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The Company

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Company Overview •

Ascent Solar Technologies Inc., manufactures “thin film”, monolithically integrated photovoltaic (PV) modules roll-to-roll on lightweight flexible plastic.

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Ascent Solar uses copper, indium, gallium, selenium (CIGS) as its semiconductor material -- about 1% of the total semiconductor material used in typical crystalline silicon solar modules.

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Ascent Solar employs unique, roll-to-roll deposition manufacturing processes that should allow rapid production of PV modules at significantly lower cost /watt…potentially two to three times lower than traditional silicon.

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Monolithic integration eliminates entirely the labor intensive, back end assembly of discrete cells into modules and greatly simplifies PV system installation.

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Ascent Solar modules can be customized into very large modules or even minimodules and many possible applications in between.

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Ascent Solar thin film modules enable direct integration into standard building materials and consumer electronic packages. 4

Innovation Ascent Solar - a developer and manufacturer of state of the art, thin-film photovoltaic materials and modules. • High efficiency polycrystalline PV on Plastic • First to take monolithically integrated PV on plastic into production CIGS technology on PLASTICS: • cheaper • lighter • flexible and more compact Ascent Solar modules incorporate only micron-level amounts of semiconductor material - about 1% of the semiconductor material used in typical crystalline 5 silicon solar modules

Experience • Thin film photovoltaic development began in 1994 at ITN Energy Systems, Inc. • Over $60 million invested in R&D • Significant investment in capital equipment and facilities •Unique roll-to-roll manufacturing with intelligent process controls

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Solar Markets

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AST Market Applications

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World Energy Resources Hydro, 6.0%

Nuclear, 6.0% Natural Gas, 23.0%

Renewables, 1.0%

Petroleum, 38.0% Coal, 26.0%

Global Energy Resources US Energy Resources Hydro, 2.7%

Nuclear, 8.1%

Natural Gas, 22.6%

Renewables, 3.4%

Petroleum, 40.4% Coal, 22.8%

9 Source: Energy Information Administration

Change is on the Way

10 Source: U.S. Department of Energy

Industry Growth According to Photon-consulting: • The overall PV market is expected to grow at ~40% to 43% annually through 2010 with growth accelerating in ’09 and ’10 as the silicon shortage subsides • Non Traditional PV technologies are expected to grow even faster 50%+ reaching ~20% market share in 2010 from ~9% in 2005.

~ $15-20 billion global solar market

Key Drivers: • Clean energy • Global gov’t subsidy programs • Energy independence • Rising global electricity costs

Source: Photon-consulting

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Manufacturing Innovations

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Keep it Simple • Less Material • Roll-to-roll Automated Manufacturing • Laser Patterned Integration – No cell manufacturing, no cell sorting, no cell mechanical integration…NO CELLS PERIOD! – Module level manufacturing – Building Integrated Solutions – Electronic Integrated Solutions 13

Complexities of Silicon

Graphic source: Deutsche Bank, 3 October 2006

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Complexities of Silicon

Graphic source: Deutsche Bank, 3 October 2006

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Complexities of Silicon

Graphic source: Deutsche Bank, 3 October 2006

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Keep it Simple

Base metal feedstock

Graphic source: Deutsche Bank, 3 October 2006

Eliminate the wafer substrate manufacturing

Plastic Roll (substrate)

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Roll-to-roll Simplicity

Eliminate cell manufacturing and sorting

Eliminate cell-to-cell module assembly and handling

Continuous roll-to-roll processing Module encapsulation and finishing

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Pathway to Market

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The Value Chain PV Products • PV Modules

PV Systems • Roof Installation

Customers

Architects

• Repair/Re-roof • BIPV Products

• EIPV Products

• Building Systems • PV Systems Integrators • PV Powered Electronics

• PV Systems

Commercial Builders

• Portable Power Systems

Consumer Electronics Specialty Products

ASCENT SOLAR STRATEGIC RELATIONSHIPS

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Norsk Hydro - Strategic Investor/Partner Norsk Hydro ASA (NYSE: NHY) is a Fortune 500 energy and aluminum company with 30,000 employees in nearly 40 countries. Hydro is a leading offshore producer of oil and gas, a major aluminum and building systems supplier and a leader in the development of renewable energy sources. Highlights of Hydro financial investment in Ascent Solar – March 2007 - acquired 23% of common stock at 25% premium – Call option to acquire 23% of Class A Warrants and Class B Warrants after shareholder approval in June 07. – Call option to acquire additional 12% (up to 35% total) of common stock, Class A Warrants and Class B Warrants after 9 months from initial closing, subject to shareholder approval – Can acquire >35% of common stock via warrant exercise or open market purchase after 24 months from initial closing. Highlights of Hydro strategic investment in Ascent Solar – Immediately explore joint development of BIPV product solutions – Explore integration of building integrated PV (BIPV) into Hydro product brands – Future deployment of BIPV building solutions through Hydro market channels – Further develop PV integration opportunities across Hydro aluminum businesses 21

Hydro Building Systems • Major Players in the Building Systems Market

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Hydro Building Systems HYDRO BRANDS • Domal

• Technal

• Wicona 23

Electronics Module Integration • Enables Electronic Integrated PV (EIPV) products • Monolithic integration allows for high voltages in very small packages • Significant reduction in size and cost • Readily available power • “Made-to-order” capability enables custom packaging and integration OR • Commodity portable power solutions – Handheld pocket power – One package, multiple applications 24

The Future “The AST vision is to see the day when BIPV and EIPV will become pervasive in the everyday lives of peoples throughout the world by delivering affordable solutions for all to benefit from renewable low cost electricity.” Ascent Solar President and CEO Matthew Foster

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Contact Information ADDITIONAL INFORMATION (NASDAQ Capital: ASTI) (BSE: AKC) Jim Blackman (Investor Relations) PR Financial Marketing (713) 256-0369 [email protected] & Kelly Brandner (Media Relations) (303) 289-4303 [email protected]

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