XSUNX ANNOUNCES EFFICIENCY BREAKTHROUGH
Aliso Viejo, CA, March 3, 2004 – XsunX (OTC BB: XSNX), the providers of breakthrough patented thin film technology to produce solar electric vision glass, announced today that recent research has provided the basis for some efficiency breakthroughs.
XsunX now anticipates being able to provide a wider range of optical transmittance filtering capabilities that the company now believes may provide efficiencies of 5% or more. This represents a doubling of the Company's previous efficiency estimates. Ultimately, the degree of sun light transmittance filtering will determine the efficiency rates in any given application.
The Company's management believes that XsunX glazing will provide more versatility to manufactures for its use in many applications where traditional photovoltaics cannot compete. The attributes of transparency, flexibility, light weight and lower manufacturing costs may provide XsunX licensees access to the design of diverse product groups that span and interconnect the architectural glass, optical film and energy markets.
``The unique attributes of our technology may ultimately provide manufactures with more options in the choice of product form factors while integrating solar cell technology into the previously under-utilized, or simply unused, portions of a building's structure in the form of architectural glass or optical films applied to building materials,'' stated Tom Djokovich, XsunX's CEO. ``This opens a direct path to new markets where XsunX and our licensees will not compete with current opaque solar cell designs for rooftops and other architecturally limiting locations.''
There is still a number of testing and development processes that will require completion prior to the company offering license opportunities for its technology. XsunX continues to anticipate offering beta product testing and development relationships to various manufactures later this year.
Based in Aliso Viejo, California, XsunX is developing patented processes to produce solar electric glass. These proprietary processes are intended to allow manufacturers to apply a transparent and photovoltaic glazing to glass and other transparent substrates. When XsunX glazing is exposed to light, the light energy is converted into electrical energy for use as a power source. XsunX believes that its patented solar electric glazing technology has a number of major market opportunities in the worldwide architectural glass, optical film and plastics markets. The Company intends to take advantage of this commercial opportunity to provide governments, developers, businesses and architects with a commercially viable method for converting today's large areas of architectural glass into virtual power plants. For more information, please visit the Company's website: https://XsunX.com.
Tom Djokovich, CEO
Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Sec Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "muritiesay," "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.