XsunX Responding to Developing Markets
March 25 2013 - 9:15AM
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 that the Company is working with solar
start-up firms in developing regions including Africa and the
Caribbean. Working under Letter-Of-Intents (LOI) provided by
customers, XsunX is configuring solutions to deliver CIGS
manufacturing capabilities targeting the initial deployment plans
by firms in these regions.
With hundreds of millions of people throughout Africa, the
Caribbean, and South America suffering from either a lack of access
to electricity or the use of a chronically unreliable and costly
electric power grid, the deployment of solar in these regions is
expected to see major growth in both grid and off grid power
production*. Additionally, in these regions significant portions of
current power needs are met by burning fossil fuels such as diesel.
The result is that today's costs for delivered electricity in the
Caribbean hover at $0.37 a kWh.
"Our customers are telling us that governments in these regions
are looking for multi-faceted solutions to fill the growing demand
for electricity for their huge, and quite often, dispersed
populations," stated Tom Djokovich XsunX's CEO. "But, providing
more reliable and less costly power to satisfy the demand for basic
needs represents only one aspect of the focus for governments in
these regions. Job growth is another focus and through the
deployment of high tech solar manufacturing facilities and power
fields, opportunities exist to develop and diversify jobs markets
while increasing employment and the buying power of their
populations. XsunX is well suited to support this developing market
through our low-cost of capital requirements, modular scalability
of our technology, and excellent cost-per-watt production costs,"
concluded Mr. Djokovich.
These promising opportunities are multi-relationship based
purchase and deployment efforts, so in support of these customers,
XsunX is providing creative business solutions tailored to the
clients' needs and the regionally based support efforts of local
governments. With only 1% of total current global solar
installations deployed in these regions* the Company is excited to
be working with clients in these important developing markets.
*Statistic Source: Alliance for Rural Electrification
About XsunX
XsunX, Inc. is working to commercialize 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 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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