Warley has around four decades of varied work experience and specializes in corporate turnarounds, restructurings, cross-border trade and capital advisory mandates
A leading US-based designer and manufacturer of CIGS thin-film photovoltaic (PV) solutions, Ascent Solar Technologies (ASTI) recently announced that its Board of Directors has terminated Jeffrey Max, ASTI’s President and Chief Executive Officer, effective April 26, 2023. As a replacement, the company named its Chief Financial Officer, Paul Warley, as the CEO, effective immediately. It is learnt that Mr Warley will remain in his current role as CFO on an interim basis until his replacement is appointed by ASTI’s Board. Notably, Mr Warley joined Ascent as its CFO in December 2022.
Mr Paul has studied Business Administration at The Citadel, and as per ASTI, he has spent around four decades specializing in corporate turnarounds, restructurings, cross-border trade and capital advisory mandates at Bank of America, Bankers Trust, GE Capital, Deloitte Corporate Finance, and his consulting firm, Warley & Company. Warley has also served in the U.S. Army, attaining the rank of Captain.
Thrilled that Paul agreed to take on this leadership role at Ascent during such an important moment in the Company’s journey, the chairman of the Board, David Peterson commented, “Paul brings tremendous financial and executive leadership experience serving middle market companies, that coupled with his depth of thin-film solar knowledge, will propel the Company to its next phases of growth and commercial adoption.”
The newly-appointed CEO remarked, “I am eager to continue working with the talented Ascent team to build on the progress we have made this year to commercialize our exceptional technology and re-establish the Company as a leader in the thin-film PV industry. Following the acquisition of Flisom’s assets and the repurposing of the Thornton plant as a Perovskite Center of Excellence, we are confident the Company has a strong foundation and is well-positioned for growth. We are now capable of meeting market demand in Europe, Asia and North America, while simultaneously advancing R&D efforts of Perovskite – long considered a promising material for next-generation solar materials.”
Colorado-headquartered Ascent Solar Technologies, Inc. (ASTI) identifies as a leading provider of innovative, high-performance, flexible thin-film solar panels for use in scenarios where traditional rigid solar panels don’t work. As per the company, its PV modules have been deployed on space missions, multiple airborne vehicles, agrivoltaic installations, industrial and commercial construction, and consumer goods, revolutionizing the use cases and environments for solar power.