XsunX Plans Multi-Megawatt Thin Film Solar Cell Factory
2007-04-27 10:33 ET - News Release
ALISO VIEJO, Calif., April 27 /PRNewswire-FirstCall/ -- XsunX, Inc. , a developer of advanced manufacturing systems and cell structures for thin film photovoltaic solar energy, is planning to build a multi-megawatt production facility in the United States in order to supply the growing domestic demand for solar cell products that can be easily integrated into buildings and houses.
In making this announcement, XsunX is revealing an important new development in its ongoing program of commercializing its thin film technologies. "The growing national and international market opportunities for building integrated photovoltaics clearly support this decision to expand the XsunX business model from a purely licensing and equipment sales model into one of manufacturing the solar devices ourselves here in the U.S.," says Tom Djokovich, CEO of XsunX. "As we work with manufacturing licensees globally on assessing the size of the markets and the return on investment of our manufacturing systems, it became obvious that it was a business opportunity we could not ignore."
With this new manufacturing facility, XsunX will focus on providing the U.S. market with thin film solar solutions and products that are easy to incorporate into "green buildings." The demand for these types of products continues to outpace the ability of current solar cell manufacturers to deliver them.
"Global warming and global energy needs have converged to create an enormous and growing demand for new solar energy solutions," comments Kurt Laetz, Vice President of Sales and Marketing. Laetz continues, "We anticipate we will soon have manufacturing partners in place internationally, and have decided that the U.S. market could best be served by XsunX itself."
"We are planning the manufacturing line around a 5 megawatt modular design which allows us to scale from 5 to 25 to 50 megawatts of production by adding new 5 megawatt lines," stated Joe Grimes, XsunX COO. "There are a number of states that have mandated certain minimum renewable energy production standards and the type of knowledge based jobs that our facility could bring to a region may prove very attractive to regional and state policy makers. We plan to build our first facility where we find the best access to government support and a qualified work force. We are paying special attention to opportunities in California, Massachusetts and, of course, Colorado where our current facilities are located," concluded Grimes.
About XsunX
Based in Aliso Viejo, Calif., XsunX is developing and commercializing innovative new thin film photovoltaic (TFPV) solar cell technologies and manufacturing processes to service expanding global energy demands. The Company has focused its efforts on lowering the cost per watt of solar power and making solar cell technology easier to use in a wide variety of applications. XsunX provides new manufacturing techniques that can significantly lower production costs and allow for easier additions to production capacities and technology upgrades to manufacturers without their having to re-build and re-tool. Together, XsunX design and production innovations offer manufacturers of solar products exciting new application opportunities and reductions to the cost per watt of solar power.
More information can be found at the Company's multi-lingual website: http://www.XsunX.com
For more information, contact Investor Relations at XsunX, Inc. (888) 797-4527; Media Relations (949) 330-8065.
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
XsunX, Inc.
CONTACT: XsunX, Inc. Investor Relations, +1-888-797-4527, or XsunX, Inc.
Media Relations, +1-949-330-8065
Web site: http://www.XsunX.com/
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