XsunX Business and Technology Newsletter
In this newsletter we are providing brief updates on progress with the build of our CIGSolarTM tool, outlining the latest tariffs that the US has now encumbered Chinese silicon manufacturers with, and updating you on new interest from customers.
Those of you who have been following each of our newsletters and have watched our progress are going to be as pleased as we are when you visit our website and see this week’s project build update: CIGSolar project update page. The heating components have been installed and the CIGSolarTM tool has been prepped for a final series of procedures that will allow the tool to undergo testing of all systems while under vacuum and fully heated. This is the last series of assembly and testing procedures necessary to certify that our vendor has completed the core evaporation chamber system, material transport, and controls systems to our specifications.
Work will now focus on repeated cycling of the material handling, heating, and system controls both individually, and in unison, to ensure proper operation. The CIGSolarTM tool has come together well and we are looking forward to completing this testing process announcing that the tool is ready for shipment to XsunX so keep an eye out for our next newsletter.
The big news last week in the solar sector came from the U.S. Department of Commerce which announced on Thursday that it would levy stiff anti-dumping tariffs of around 31 percent on crystalline silicon solar panels imported from China. Obviously, the Department of Commerce had evidence of this practice and wanted to even the playing field. With the focus of these tariffs on silicon based solar modules we anticipate that manufacturers who currently use silicon will accelerate their efforts to find suitable alternatives to help lower assembly costs and to avoid these tariff fees.
Leading up to this announcement, our current customers, and a few new ones, contacted us with a new sense of urgency believing that this new tariff will help them to better differentiate themselves by offering an alternative to silicon. With so few alternatives to silicon’s dominance we are excited with the prospects that CIGSolarTM may provide a solution at the right time.
Thanks again for your time, support, and interest. Have a great week.
The XsunX Team
Safe Harbor Statement: Matters discussed in this shareholder newsletter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder newsletter, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.