XsunX Announces Start of CIGSolar(R) CIS Processing
January 16 2013 - 5:53AM
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 begun processing CIS films with its
recently completed CIGSolar® TFPV solar cell evaporation system.
The Company has been testing and calibrating the deposition source
technology in its new evaporation system so that it could
transition to processing CIGS films.
"Recently we initiated the last phase necessary for preparing
our CIGSolar® TFPV solar cell evaporation system for customer
demonstrations with the initiation of CIS (Copper Indium and
Selenium) film processing," said Tom Djokovich, CEO of XsunX. "This
represents a major step forward and allows us to then transition to
CIGS (Copper Indium Gallium and Selenium) films and the completion
of the system's readiness for demonstrations," added Mr.
Djokovich.
The Company's technology utilizes multi-small area thermal
co-evaporation technology to deposit the CIGS solar absorber onto
thin stainless steel substrates. The stainless steel substrate can
be sized to match silicon solar cells for use as a low cost
alternative to silicon solar cells. In addition, the flexible
aspect of the stainless steel substrate could also be used in
applications where flexibility is required such as
building-integrated PV (BIPV) applications.
According to analysts, markets for BIPV installations are
predicted to grow by $5 billion U.S. over the next two years. The
flexibility of CIGSolar® cells could offer BIPV manufacturers the
potential to use cells manufactured using the CIGSolar® process in
their products, opening up new market opportunities for XsunX. With
the closure of some thin film manufacturers and scaling back of
production with others, the Company has begun to receive inquiries
related to BIPV applications for CIGSolar® cells.
"There was a lot of buzz over CIGS PV that began to develop in
2009 and grew into 2010," stated Mr. Djokovich. "But with the rapid
decline in silicon pricing, many companies focused on producing
products to compete with silicon module assemblers have either
closed or sold out. XsunX took a different approach with CIGSolar®.
Rather than develop a product that attempts to compete with
assemblers of silicon solar modules, which is a business path that
has seen the demise of numerous thin film companies such as
Solyndra, XsunX's CIGSolar® is designed to offer pre-existing
silicon module assemblers a lower cost replacement to silicon. Our
business objective is to leverage the many GW of existing assembly
capacity in the market -- not compete with it. Now it appears that
the flexibility of our stainless steel substrates may also offer an
alternative cell for BIPV assemblers as well. At this time, we are
pleased to find interest in our CIGSolar® technology coming from
multiple areas in the solar market," concluded Mr. Djokovich.
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 coupled with proprietary 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 www.xsunx.com
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