XsunX Readies New CIGSolar(R) System for Demonstrations
November 15 2012 - 8:30AM
Marketwired
XsunX, Inc. (OTCQB: XSNX), the developer of CIGSolar®, a
patent-pending solar cell manufacturing process offering a
capital-efficient, low-cost alternative to the use of silicon solar
cells, today announced it had recently completed the assembly of
its baseline CIGSolar® TFPV solar cell evaporation system. The
Company is now fast tracking start-up, testing, and calibration of
its new CIGSolar® technology for customer demonstrations.
"With the successful completion of the system assembly,
interested customers have been contacting us to schedule system
demonstrations of the CIGSolar® system," said Tom Djokovich, CEO of
XsunX, Inc. "We are as excited and eager as they are, so we are
working with these customers to address their questions and
schedule on-site meetings while preparing our CIGSolar® evaporator
for deposition demonstrations. Many of the potential customers are
interested in the smaller footprint and cost-competiveness of our
scalable system to service regional demand and employment
goals."
Worldwide demand for solar products continues to grow with new
installations on track to reach about 30 gigawatts in 2012 --
that's the equivalent of adding about twenty-seven 1.1GW nuclear
reactors. So while it is easy to see that solar power production
continues to grow in impact and importance, the solar industry
itself has been experiencing limitations to furthering cost
reductions. Additionally, the rapid pricing erosions over the last
two years have left manufacturers with either negative operating
margins or they have been forced out of business. The industry's
need, and the focus of CIGSolar® TFPV cell evaporation technology,
is to provide manufacturers a path to further cost reductions and
an opportunity to restore operating margins.
The Company's technology, of which samples were certified
delivering 15.91% average efficiency in testing conducted by the
National Renewable Energy Laboratory (NREL), utilizes multi-small
area thermal co-evaporation for rapid deposition of final-sized
cells to better control the complex management of the CIGS layer
deposition process.
The Company's method, unlike other CIGS manufacturing
technology, begins and ends using individual thin stainless steel
substrates matched in size to silicon cells for use as an
alternative to silicon cells for existing module assembly lines. In
addition to providing for a smaller and more precise deposition
environment, the CIGSolar® process also helps to avoid performance
losses experienced when cells are either cut from rolls of
manufactured CIGS material or mismatched electrically in monolithic
assemblies.
About XsunX
XsunX, Inc. is developing a new manufacturing process to produce
low cost, high efficiency thin-film Copper Indium Gallium (di)
Selenide (CIGS) thin film solar cells. The patent pending
deposition system and processing technology, which XsunX calls
CIGSolar®, focuses on the mass production of individual thin-film
CIGS solar cells that match silicon solar cell dimensions and can
be offered as a non-toxic, high-efficiency and lowest-cost
alternative to the use of silicon solar cells. The company is
offering licenses for the use of the CIGSolar® process technology,
and plans to generate revenue through licensing fees and
manufacturing royalties for the use of the CIGSolar®
technology.
For more information please call XsunX at 888-797-4527, or visit
the company's website at www.xsunx.com.
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. Such forward-looking statements involve known
and unknown risks, uncertainties and other unknown factors that
could cause the Company's actual operating results to be materially
different from any historical results or from any future results
expressed or implied by such forward-looking statements. In
addition to statements that explicitly describe these risks and
uncertainties, readers are urged to consider statements that
contain terms such as "may," "will," "should," "believes,"
"expect," "intend," "anticipate," "plan," "estimate" to be
uncertain and forward-looking. The forward-looking statements
contained herein are also subject to risks and uncertainties that
are described in our most recent annual report on Form 10-K under
the heading "Risk Factors" and our subsequent filings with the
Securities and Exchange Commission. We do not undertake any
obligation to update publicly any forward-looking statements
whether as a result of the receipt of new information, future
events, or otherwise.
XsunX 888-797-4527
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