Ascent Solar Announces Management Change

Ascent Solar Technologies Inc., a developer of thin-film photovoltaic modules out of Littleton, Colo., announced that Matthew Foster, president and CEO, resigned his position effective Sept. 19, 2008. He will continue on as a consultant for the company, focusing on global expansion and business development for a period of one year. Effective immediately, Mohan Misra, Ascent Solar’s chairman and chief strategy officer, will serve as the company’s interim president and CEO until a permanent replacement can be found. Misra, who has served as Ascent Solar’s chairman since 2005, and its chief strategy officer since 2007, previously founded and served as the chief executive officer of ITN Energy Systems Inc. beginning in 1994. Misra also spent 19 years with Martin Marietta (now Lockheed Martin Corp.) in the areas of material research, development and manufacturing. While there, he worked as manager of Research and Technology (Materials and Structures), then led the company’s development of long-term Materials technology strategies. He was a scientist for the Martin Marietta Solar Company’s projects that developed solar thermal and concentrator-silicon photovoltaic plants. Misra has also helped develop and implement several key technologies for aerospace applications including thin-film photovoltaic, smart materials, advanced composites and lightweight structures.