Aliso Viejo, CA., May 7, 2007
Source: XSunX.com press release
http://www.xsunx.com/news.aspx?news=45
XsunX, Inc. (XSNX), a developer of advanced manufacturing systems and cell structures for thin film photovoltaic solar energy, today provided updates to its plans to build a multi-megawatt production facility in the United States in order to supply the growing domestic demand for solar renewable energy. The Company believes that its decision to expand operations to include the manufacture of thin film solar modules is consistent with its overall business strategy to develop photovoltaic technologies and products. Mr. Kurt Laetz, Vice President of Sales and Marketing commented, “Management’s decision to tap the domestic market, one of the fastest growing renewable markets in the world, not only allows XsunX to develop revenues through direct sales of finished solar products, but will reduce the effort and collaboration required in establishing new J.V. licensees of similar facilities.”
“As for our current sales efforts we have been working with interested customers to tailor solutions to their needs and we anticipate that we will soon announce the first of what we anticipate will be several international manufacturing partners,” concluded Mr. Laetz.
In March the Company had announced the initial stage of its expansion efforts with the anticipated acquisition of an existing solar module manufacturing facility. “We had anticipated the use of many aspects of the facility’s existing infrastructure, including its product assembly backend, for use in the launch of our thin film line,” stated Tom Djokovich, XsunX’s CEO. “While we continue to work towards what we hope will be a successful completion to this transaction, the seller has notified us of a change in direction and decision not to honor the sales agreement.”
In addition to the Company’s efforts to acquire the existing solar facility, they have begun an aggressive effort to identify either similar facility opportunities or regions providing government support and a qualified work force. “We have been approached by various states looking to strengthen their renewables infrastructure and expand job opportunities, continued Djokovich. “At the same time interest in our manufacturing expansion plans appears to be strong on Wall Street as well. We are hiring qualified people to help us plan and execute this expansion and working towards the goal of beginning the build out of a manufacturing facility in October 2007. Our sales efforts appear to be coming to fruition and with the launch of business expansion plans we anticipate that our shareholders will have a lot to look forward to this year,” concluded Djokovich.
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. More information can be found at the Company’s multi-lingual website: http://www.XsunX.com