Ascent Solar, a US manufacturer of thin-film copper indium gallium selenide (CIGS) solar modules, has agreed to acquire Switzerland-based thin-film rival Flisom for an undisclosed sum. Flisom currently operates a 15 MW factory in Zurich, Switzerland.

Ascent Solar will remain based in Thornton, Colorado, where it has a research and development center and 5 MW of nameplate production facility. It will immediately start manufacturing from its new roll-to-roll thin-film manufacturing facilities in Zurich, Switzerland. The Flisom deal will triple Ascent Solar's production capacity.

The company said the transaction is a significant milestone in its turnaround plan by delivering new committed contract revenue, increased production capacity, and an international foothold, as European and Asian governments adopt legislation to increase solar energy production and domestic manufacturing capabilities. The Flisom acquisition is also expected to provide Ascent with a new revenue stream in the luxury goods and building-integrated photovoltaics (BIPV) markets.

Modern equipment at the Swiss facility will support Ascent’s focus on operational efficiency and optimization.

“Since coming aboard the company in September 2022, my priority has been to execute an aggressive turnaround plan and to re-establish Ascent as the leading provider of high-performance, flexible thin-film solar modules for use in scenarios where traditional rigid panels don’t work,” said Jeffrey Max, chief executive officer of Ascent. “We are seeing a global push for more solar power production and we have identified unmet demand for alternatives to traditional rigid panels that can be used in scenarios where land, form-factor, or weight constraints exist, particularly in Europe and Asia.”