THORNTON, CO, Sept. 23, 2022 (GLOBE NEWSWIRE) — through NewMediaWire – Ascent Solar Technologies, Inc. (“Ascent Solar”, “Ascent” or the “Company”) (NASDAQ: ASTI), a developer and producer of state-of-the-art, light-weight, versatile thin-film photovoltaic (PV) options, at present introduced a transition of its management on the board and govt ranges.
Four new administrators have been appointed to the Company’s Board of Directors: Louis Berezovsky, Mike French, Felix T. Mantke, and Forest Reynolds. These administrators will function a part of the brand new management group that may assist information the Company in its efforts to develop long-term income and business alternatives, as Ascent continues its transition as a newly listed firm on Nasdaq.
As a part of the board transition, 4 earlier administrators (Amit Kumar, Kim J. Huntley, Will A. Clarke and Victor Lee) agreed to resign from the board. David Peterson continues as a member of the board and has been appointed board chair.
In addition, Victor Lee has resigned because the Company’s CEO. The Company has commenced a seek for a brand new CEO and expects to make an announcement about new govt management within the close to future.
David Peterson, board chair, said, “We very much appreciate the work and stewardship of our departing directors and CEO. Their efforts have sustained the Company through some very difficult financial and operating conditions. Our recent listing on Nasdaq in August was a major accomplishment that would not have been possible without the efforts of Victor, Amit, Kim and Will.”
Information on our new administrators:
Louis Berezovsky presently leads the Finance and Accounting, M&A, Human Resources, Legal and IT features at Eagle Infrastructure Services. Mr. Berezovsky has over 25 years of expertise in senior monetary administration positions throughout quite a lot of industries, together with personal fairness sponsored portfolio firms. His accomplishments embrace the completion of greater than 60 acquisitions, in addition to a number of recapitalizations and profitable sale processes. Mr. Berezovsky, who has served because the Chairman of the Finance Committee for the Better Business Bureau of Minnesota and North Dakota, acquired his B.S. in Accounting from the University of Minnesota, Carlson School of Management, and is a Certified Management Accountant (CMA).
Mike French is presently the Vice President of Space Systems on the Aerospace Industries Association, the place he advocates for insurance policies, laws, and investments that construct robust trade partnerships throughout the civil, industrial, and nationwide safety sectors. Mr. French’s expertise within the house trade consists of growing market forecasts and assessments for house trade executives and analyzing main house investments for firms and banks. He served as NASA’s Chief of Staff, the place he suggested the NASA Administrator, the White House, and numerous authorities leaders on nationwide house coverage points. Mr. French holds a Bachelor of Science in business administration from the Haas School of Business on the University of California, Berkeley, and a J.D. from Harvard Law School.
Felix T. Mantke is presently the CFO at TubeSolar AG, which is an investor in and buyer of Ascent Solar. He has greater than 20 years {of professional} expertise within the fields of accounting, controlling and auditing and has explicit experience within the areas of M&A and capital markets. Prior to becoming a member of TubeSolar in 2022, Mr. Mantke spent 5 years working at Deloitte in Germany. Prior to that, he was the Managing Director at Flick Gocke Schaumburg in Munich, after having labored at BDO AG in Frankfurt. At the start of his profession, Mr. Mantke held numerous positions at EY in Berlin, Boston, Moscow and Munich and moved to H.C. Stark GmbH in 2012 as Head of Group Accounting/Capital Markets.
Forrest Reynolds has over 28 years of business and administration expertise and is presently the Managing Partner of CalTex Capital, LLC, a privately held funding agency, in addition to a Managing Director of The Vortex Group Family Office, LLC, a non-public household workplace, each of that are primarily based in Texas. Previously, Mr. Reynolds served because the Chief Restructuring Officer for Centaur Gaming, LLC, a gaming improvement firm situated in Indianapolis Indiana. In this capability, Mr. Reynolds managed a $1 billion Chapter 11 chapter reorganization for the corporate. Prior to that, Mr. Reynolds labored within the funding banking trade for over 14 years, holding numerous positions with a number of multinational funding banks together with Credit Suisse, BT Alex Brown (later Deutsche Bank) and UBS. Mr. Reynolds sits on the board of a number of personal firms and is actively concerned with a number of charitable organizations. Mr. Reynolds graduated from The University of Texas at Austin the place he acquired a B.B.A. in Finance and a B.A. in Economics.
For extra data, please go to www.AscentSolar.com.
ABOUT ASCENT SOLAR TECHNOLOGIES, INC.
Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules utilizing versatile substrate supplies which can be extra versatile and rugged than conventional photo voltaic panels. Ascent Solar modules have been named as one of many prime 100 applied sciences by R&D Magazine, and one in all TIME Magazine’s 50 greatest innovations. The expertise described above represents the reducing fringe of versatile energy and may be immediately built-in into shopper merchandise and off-grid functions, in addition to different aerospace functions. Ascent Solar is headquartered in Thornton, Colorado. More data may be discovered at www.AscentSolar.com.
Forward-Looking Statements:
Statements on this press launch that aren’t statements of historic or present truth represent “forward-looking statements.” Such forward-looking statements contain identified and unknown dangers, uncertainties and different unknown elements that would trigger the Company’s precise working outcomes to be materially completely different from any historic outcomes or from any future outcomes expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these dangers and uncertainties, readers are urged to contemplate statements that include phrases reminiscent of “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be unsure and forward-looking. No data on this press launch must be construed as any indication in any respect of our future revenues, inventory value, or outcomes of operations. The forward-looking statements contained herein are additionally topic usually to different dangers and uncertainties which can be described every so often within the Company’s filings with the Securities and Exchange Commission.
Ascent Solar Technologies
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