US-based thin-film solar cell manufacturer, Ascent Solar Technologies (ASTI), announced that it has completed a transaction to acquire the 15 MW thin-film cell manufacturing facilities of Switzerland-based Flisom AG. This acquisition aims to more solidly support the EU energy transition in the region while satisfying the increasing demand for thin film cells in the US, Europe and Asia.

It represents a significant milestone in ASTI’s turnaround plan as it enables the company to generate new contracted revenue, expand production capacity and establish an international footprint.

In particular, this transaction is expected to provide ASTI with the opportunity and proven production capacity to develop new revenue streams in the luxury goods and building integrated photovoltaic (BIPV) markets and at scale Increase ASTI’s name tag capacity by 300% overall. It is also worth noting that the acquired fortune can produce roll-to-roll thin film outputs up to one meter wide and one kilometer longIncreasing production efficiency and improving competitiveness.

Through the transaction, ASTI will use the assets to fulfill Flisom’s outstanding contracts. ASTI management will also seek to renew and extend customer contracts directly as counterparties as they mature.

In recent years there has been a growing demand for alternatives to traditional rigid crystalline panels that can be deployed in scenarios where there are area, form factor or weight constraints, particularly in Europe and Asia.

“Our flexible, lightweight and proven thin film is made for these scenarios and represents a necessary and proven alternative to traditional rigid modules. By supporting the global push for more solar energy and demonstrating the benefits of solar module form factor diversity, we will establish ASTI as a global leader in the PV industry,” said Jeffrey Max, President and CEO of ASTI.

Post the transaction, the company will continue to be headquartered in Thornton, Colorado. Management expects the acquired assets to generate an EBITDA positive operation as early as the second half of this year.

Thin film cells are gaining traction owing to their benefits of cost savings, flexibility for wide range of applications and continuous increases in efficiency. Pioneers like Midsummer have it too tries to combine silicon and thin film Technologies to create efficient tandem cells nearing commercialization.