Ascent Solar announced today that the Board of Directors and Matthew Foster, the current President/CEO of the company, have come to a joint decision that a change in leadership would benefit the company. MR Foster resigned as of September 19. The company’s Chairman and Chief Strategy Officer, Dr. Mohan Misra, will serve as interim president and CEO until a replacement is found, and Mr. Foster will continue working with Ascent as a consultant dealing with global expansion and business development for the next year.

Mr. Foster released the following statement regarding the change of leadership:

"Ascent Solar is transitioning from a research and development company to a manufacturing and commercially focused organization. I am pleased to have been the leader of Ascent Solar during this initial stage, and I felt that new leadership would be better at leading Ascent Solar’s next phase of growth where operational and manufacturing expertise will be critical. I expect Ascent Solar to continue to grow as a leader in the thin film photovoltaics arena."