Exhibit 10.52

Record
and Return to:

Colorado
Housing and Finance Authority
Legal Division
1981 Blake Street
Denver, Colorado 80202
Attention: Shelia Anderson

Loan
No. 00050000642

LOAN MODIFICATION AGREEMENT

THIS LOAN MODIFICATION AGREEMENT (the "Modification Agreement") is executed effective as of January 29, 2009 (the "Effective
Date") by and betweenColorado Housing and Finance Authority, a body corporate and political subdivision of the State of Colorado (the "Lender"), and Ascent Solar Technologies,
 Inc., a Delaware corporation (the "Borrower").

RECITALS

A.    Lender
previously made a construction loan to Borrower (the "Loan") evidenced by a Promissory Note dated February 8, 2008 in the original principal amount of
$7,500,000.00 (the "Note") for the purpose of Borrower's acquisition and renovation of certain real and personal property comprising the commercial facility commonly known as 12300 Grant Street,
Thornton, CO 80241 (the "Project") as more particularly described in Exhibit A attached hereto and incorporated herein by this reference; and

B.    The
Note is secured by a Deed of Trust, Security Agreement, Financing Statement and Assignment of Rents and Leases dated February 8, 2008 (the "Deed of Trust") and
recorded February 13, 2008 at Reception No. 2008000011294 in the records of the Clerk and Recorder of Adams County, State of Colorado (the "Records") encumbering the Project. The
Borrower executed and delivered certain other documents which evidence or secure the Note (which, collectively with the Note and Deed of Trust are the "Loan Documents"); and

C.    The
proceeds of the Loan ("Loan Proceeds") have been disbursed by Lender in increments through Land Title Guarantee Company (the "Escrow Agent") as the renovation work on
the Project (the "Renovations") has progressed pursuant to the Construction Loan Agreement and that Disbursement Agreement dated February 8, 2008 between Borrower, Lender and Escrow Agent but
as of the date of this Agreement the Renovations have not been fully completed and therefore the Loan Proceeds have not been fully disbursed to pay costs therefor.

D.    As
only a small portion of the Renovations is left to complete and it will be a period of time before the Borrower can do so, the Borrower has requested that the Loan be
converted from a construction loan to a fully funded permanent loan at this time notwithstanding that not all of the Renovations are complete as required in the Permanent Loan Conditions contained in
Construction and Permanent Loan Commitment issued by Lender to Borrower dated January 16, 2008. Lender has to agreed to do so by (1) modifying the Note to extend its maturity date and
revise the repayment terms thereunder from interest only payments to fully amortizing payments of principal and interest and (2) disbursing the remaining Loan Proceeds to Escrow Agent to be
held, together with certain funds of the Borrower as set forth below, in an escrow account and disbursed to pay for final completion of the Renovations, all as provided in this Modification Agreement
which shall be recorded in the Records.

---



NOW
THEREFORE, in consideration of the mutual covenants set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby expressly
acknowledged, the parties hereto agree as follows:

1.Modification of Note.The Note is hereby modified as follows:



2

---





2.Modification of Deed of Trust and other Loan Documents.The Deed of Trust and other Loan Documents are hereby
modified so that all references to the Note therein shall be deemed to be to the Note as modified herein. In addition, paragraph 13 of the Deed of Trust is hereby modified to provide
that any consent required from Lender under the provisions of thereof shall not be unreasonably withheld.

3.Establishment of Completion Escrow.Upon execution of this Modification Agreement by the parties, the
remaining proceeds of the Loan in the amount of $181,360.34 together with Borrower's funds in the amount of $107,640.17 will be deposited with the Escrow Agent to be held in an escrow account at a
banking institution approved by Lender pursuant to an Escrow Agreement of even date herewith. The funds in the escrow account will be disbursed by the Escrow Agent in one or more disbursements for the
payment of costs to finally complete the Renovations upon satisfaction of the conditions for the disbursements of Loan proceeds as provided in the Construction Loan Agreement and Disbursement
Agreement which shall remain in effect and the Escrow Agreement; provided, however, that notwithstanding the any provisions thereof to the contrary (a) such costs shall be paid first from the
remaining proceeds of the Loan before any of Borrower's funds are disbursed so that the entire proceeds of the Loan will be disbursed; and (b) any funds remaining in the escrow after payment of
the final costs of the Renovations shall be disbursed to the Borrower.

4.Ratification of Loan Documents.Borrower hereby ratifies, confirms, adopts and approves all of the terms and
conditions set forth in the Loan Documents as being in full force and effect as of the date hereof without change except as set forth in paragraphs 1 and 2 above.

5.Waiver.By execution of this Modification Agreement Borrower hereby declares that it has no claim,
set-off, counterclaim, defense or other cause of action with respect to obligations of the Borrower under the Loan Documents as modified by this Modification Agreement. Further, to the
extent that any such setoff, counterclaim, defense, or other cause of action may exist, whether known or unknown, such setoff, counterclaim, defense and/or other cause of action is hereby expressly
and knowingly waived and/or released by Borrower.

3

---



6.Non-Waiver.Except as expressly provided herein, the execution of this Modification Agreement by
the Lender does not and shall not constitute a waiver of any rights or remedies to which the Lender is entitled pursuant to the Loan Documents.

7.Conflict.To the extent this Modification Agreement conflicts with the Loan Documents, this Modification
Agreement shall control and prevail.

(end
of documentsignatures on next page)

4

---



IN
WITNESS WHEREOF, this Modification Agreement is executed the day and year first set forth above.

LENDER:Colorado Housing and Finance Authority, a body corporate and political subdivision of the State of ColoradoBy:

/s/ CHARLES L. BORGMAN Charles L. Borgman,General CounselBORROWER:ASCENT SOLAR TECHNOLOGIES, INC., A DELAWARE CORPORATIONAttest:By:

/s/ GARY GATCHELL Gary Gatchell,Secretary

By:

/s/ MOHAN MISRA Mohan Misra,President


5

---



STATE OF COLORADO

)) ss.CITY AND COUNTY OF DENVER

)


The
foregoing instrument was acknowledged before me this 28th day of January 2009, by Charles L. Borgman, General Counsel of the Colorado Housing and Finance Authority, a
body corporate and political subdivision of the State of Colorado.

My
commission expires: June 24, 2010.

(S
E A L)

/s/ KAREN GATJAHR Notary Public




STATE OF COLORADO

)) ss.COUNTY OF JEFFERSON

)


The
foregoing instrument was acknowledged before me this 28th day of January, 2009, by Mohan Misra as President and Gary Gatchell as Secretary of Ascent Solar
Technologies, Inc., a Delaware corporation.

My
commission expires: October 22, 2009.

(S
E A L)

/s/ NANCY STASKIN Notary Public


6

---



EXHIBIT A

LEGAL DESCRIPTION OF PROPERTY

Lot 4, Block 7, Washington Square SubdivisionAmended, County of Adams, State of Colorado.

7

---



QuickLinks