XsunX Business and Technology Update
As a follow-up to our August Newsletter, we wanted to provide an update of our progress from both the sales and marketing perspective as well as on the multi-chamber CIGSolar™ system.
From the sales and marketing side, customer interest has continued to be very strong since the confirmation from NREL of CIGSolar 16.36% peak conversion efficiency. Weekly since the announcement, new customers interested in learning more about CIGSolar™ have contacted us. This marketing activity has allowed us to grow our active and outstanding proposals to over $500 million.
It’s very encouraging that over the last several months we have been able to achieve two important goals necessary to commercializing our technology. First, validating that the development of our patent-pending CIGSolar™ technology has resulted in the proprietary techniques necessary to produce high conversion efficiency CIGS solar cells, and secondly, the fact that our manufacturing approach and licensing business model is earning very strong market interest in multiple regions.
Our next business development objective is to provide hands-on access to our production-sized multi-chamber CIGSolar™ system to those customers who want to test the capabilities of our CIGSolar™ technology. This test fulfills a contractual requirement triggering deposit payments with several of our signed customers, and in general, is a key milestone to closing many more pending orders.
In regards to the progress of the build-out of our multi-chamber CIGSolar™ system, last week we received delivery of our proprietary thermal evaporation crucibles and heater assemblies. If you are interested, we have added a new page to our web site with some information about this new crucible technology.
In addition, progress with the fabrication of the multi-chamber evaporator and material handling systems are continuing, and the balance of all the necessary components or vendors have been coordinated to allow these parts to arrive when needed to allow us to complete the assembly of the system as soon as possible.
Thanks for your time and have a great week.
The XsunX Team
To learn more about XsunX’s’ breakthrough technology please visit https://xsunx.com , and follow us on Twitter and Facebook.
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