XSUNX HITS MILESTONES IN THE DEVELOPMENT OF ITS SOLAR ELECTRIC VISION GLASS
Aliso Viejo, CA, August 4, 2004 – XsunX (OTC BB: XSNX), an innovator of proprietary glazing processes to produce solar electric vision glass, announced today that recent advancements in its research and development efforts have produced consistent results in line, and on track, with the Company's plans.
In June, XsunX announced a cooperative venture with Colorado based MVSystems, Inc. and, under the guidance of Dr. Arun Madan, as the Company's new Chief Technology Officer, launched the next stage of its development efforts. This phase of development calls for a nine month plan to further develop commercially viable processes and manufacturing techniques and provide the Company with demonstrable products.
Key milestones to date have been the successful development of large area manufacturing processes for all layers of semi-transparent solar cell design. Next under the plan, the Company is working to establish viable manufacturing techniques for increasing the active area power producing ratios of the glazing to as near 100% as possible. These on-going achievements open the door to the exciting possibilities of converting today's large glass covered commercial structures into massive power generating systems.
XsunX has fueled the success of this phase of research and development by leveraging its own intellectual assets and business model with those of MVSystem, Inc. to pioneer next generation technology and processes. ``Our goal is to commercialize cell structure and manufacturing processes that are intended to allow for the manufacture of large area transparent solar cells that are lightweight, flexible, and have low cost to efficiency ratios,'' stated Tom Djokovich, CEO of XsunX, Inc. ``Given the current progress and results, we anticipate the continued success of this stage of development to provide an opportunity to begin marketing efforts in the first quarter of 2005.''
This continued advancement is consistent with the Company's on-going business strategy to provide opportunities to the glass, optical film, and plastics industries to produce products that integrate power generation as a component to a variety of products. The Company's plan is to deliver a process that will turn the vast areas of vision glass utilized in modern architecture into energy producing building components.
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.