XsunX Sales Efforts Gain Traction with Sale of 25 MW Thin Films Solar Cell Production System
Aliso Viejo, CA., May 15, 2007
Source: XSunX.com press release
http://www.xsunx.com/news.aspx?news=46
XsunX, Inc. (XSNX), developer of advanced manufacturing systems and cell structures for solar energy, today announced that Lambda Energia S.A. de V.C., a company pursuing manufacturing opportunities in renewable energy, has entered into agreements with XsunX for the delivery by XsunX of 25 mega-watts of thin film photovoltaic production equipment, valued at over $41 million U.S. Dollars.
The agreements, consisting of system sales and a royalty based per watt manufacturing license, provide for 25 megawatts of thin film photovoltaic production equipment and two product development tools specializing in the fabrication of micro-crystalline and amorphous thin film silicon solar cells. Manufacture of the product development tools is scheduled to begin in June 2007 upon receipt of an initial payment of $2.5 million USD from Lambda with delivery scheduled to begin in January 2008, and the balance of production systems slated to begin deliveries in late 2008.
Tom Djokovich, CEO of XsunX, announced the sale and license agreements and stated, “This license agreement and equipment sale with Lambda represents a significant milestone in the business development efforts of XsunX. The group that has formed Lambda has a track record of success in commercializing new technologies and we are anxious to begin working with them and supporting their efforts to bring thin film solar cell products to market. ”
“Lambda Energia expects to achieve broad market success with the thin film solar products we will manufacture under license from XsunX,” stated Dr. Marco Adamo, President and founder of Lambda. “The demand for low cost solar products that can be easily integrated into buildings overwhelms the ability of suppliers to deliver these products,” Dr. Adamo continued, “and the thin film products that Lambda will produce using XsunX’s technologies are well suited to meet this demand.”
XsunX continues to aggressively pursue system sales and licensing efforts with a host of international companies and recently announced plans to expand operations domestically to include the manufacture of thin film solar modules. Upon completion of the necessary manufacturing facilities to produce solar modules, XsunX will begin servicing the U.S. market with thin film solar energy products.
“We have a road map for the commercial use of the new technologies we are working on, and our current plans are focused on a less complex solar device and manufacturing method delivering solid performance,” stated Joseph Grimes, XsunX’s COO. “Today the majority of the cost per watt of a thin-film solar module lies in the transfer from solar cell to a finished module or packaging. This is the case for XsunX as well as the balance of the industry. While we continue to work to improve conversion efficiencies and manufacturing methods, a potentially significant cost differentiator today lies in new packaging techniques. This is why we’re taking the path of tandem junction amorphous on glass as it allows us to capitalize on efficient packaging techniques. XsunX is not the only one to see this opportunity, as many industry analysts foresee this type of product competing favorably with other thin-films.”
The Company is close to completing site selection for its new manufacturing facility and working with specialists to maximize local and regional governmental support programs and other financing opportunities related to the build out.