Aliso Viejo, CA – November 9, 2010 – XsunX, Inc. (XSNX), the developer of hybrid, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes, today announced it has further enhanced the conversion efficiency levels of its cell devices to 15.1 percent based upon the Company’s CIGSolar™ technology. With other market-ready thin-film technologies functioning within the range of 8-11 percent for solar modules, the CIGSolar™ technology illustrates conversion efficiency that may soon lead to gains over current technology.
“The rate at which we’re experiencing percentage point gains is truly incredible considering only weeks ago we announced surpassing 14 percent conversion efficiency,” said Tom Djokovich, CEO, XsunX, Inc. “Our confidence that small area co-evaporation processes is the key to delivering the best performance CIGS thin-film cells continues to be strengthened.”
CIGS thin-film researchers have concluded the theoretical limit for CIGS solar technology tops at 29 percent conversion efficiency, although the highest percentage ever achieved was 20 percent in a laboratory setting.
“It’s important to remember that we are developing our technology on the same size substrates we intend to use in our commercial systems, about the same size as a silicon solar cell, so the efficiency levels we achieve in the laboratory we believe will be transferable to what we can offer the market,” adds Tom. “Unlike current solar developers, we don’t anticipate having to struggle with the challenges of scaling product while maintaining laboratory efficiencies.”
XsunX has achieved 15.1 percent in a relatively short period of time and with less cost compared to other CIGS efforts that spanned many years and incurred significantly higher capital demands for less than similar results. This rapid success, coupled with the technology’s perceived value as an alternate for the use of silicon solar cells, has accelerated the industry’s interest levels which have not only led to additional license discussions for XsunX but has also allowed the Company to work towards executing its plan to develop JV License agreements to deliver the technology package through existing manufacturers.
This combination of leveraging existing branded manufacturers to deliver its systems and having branded module assemblers integrate the CIGSolar™ technology into their products allows XsunX to significantly reduce the need for debt or equity financing necessary to build factories directly while also providing bankability for its technology through proven manufacturers of solar modules.
Deposition of the CIGS cell layers was conducted on full size 125 mm square substrates. Test configurations used to measure efficiency are identical to that used by the National Renewable Energy Laboratory and XsunX test equipment is calibrated to the standards of the National Institute of Standards and Technology (NIST) standards.
XsunX is pioneering a new manufacturing process to produce low cost, high efficiency thin-film CIGS solar cells through the combination of thin-film photovoltaic (TFPV) process knowledge with select magnetic media thin-film manufacturing technologies pioneered in the hard disc drive industries. The company believes that leveraging small area and high rate production methods will reduce the processing defects plaguing large-scale production processes currently implemented in the marketplace.
The Company is offering license manufacturing opportunities for this technology to regional manufacturers.
For more information please call XsunX at 888-797-4527, or visit the company’s website at 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. When used in this press release, 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