Welcome to 2010 – a year we anticipate will unfold with great advancements toward bringing XsunX’s hybrid thin-film CIGS technology to market. If you have followed our recent progress culminating in the completion of our first fully-functional CIGS thin-film solar device, then you know this year is poised to possibly become the best year yet for our company.
In 2009, we faced a number of challenges that we worked to overcome including the change in our technology path. We re-focused operations on the development of a cross-industry thin-film solar manufacturing concept that we believe provides an opportunity for XsunX to establish a competitive advantage within the solar industry.
We’ve come a long way very quickly since making that change mid-year towards the development of our new CIGS thin-film manufacturing technologies, but there’s still a lot to accomplish. The following is a general list of our overarching goals for the year ahead that are necessary for the completion of the development stage of this new technology allowing us to then launch more aggressive business development efforts:
As we work through the first half of the year, our goals include:
- To focus on our engineering milestones which include producing full-size production quality CIGS solar cell samples;
- To continue to measure results, refine processes, and adaptation designs necessary to lay the foundation for our product goals and;
- To work with recognized third parties to verify the results of our progress.
Building on these achievements, the second half of the year goals includes:
· To apply what we’ve learned to complete the designs for production equipment necessary to produce CIGS thin-film solar cells in a production setting;
· To increase our marketing efforts with the goal of launching JV manufacturing relationships;
· To build and install a pilot line to assist in sales and marketing efforts, and process development so that we can continue to offer our future manufacturing partners competitive technologies and;
· To increase our scope of collaboration with recognized third parties not only to continue verification of our results but to also look towards opportunities for ways to improve and adapt new ideas.
The list above is a very brief overview of the work that lies ahead this year, and there are a lot of activities and goals buried within each of the topics. While there are still incremental steps to this development process, we may experience time gains from not having to struggle as much with the porting of laboratory developments to production size systems. We’re essentially developing processes at the same scale as our production cell sizing. Later in the year this may prove significant in allowing us to achieve our commercialization goals.
We’re excited to have achieved the progress we made thus far but important work still lies ahead. Thanks for your strong support in 2009. This is indeed an exciting time and the entire staff at XsunX thanks you for your continued support and interest.
All the best to you and yours in the New Year!
If you have any questions, please contact our Investor Relations desk at [email protected] or (888) 797-4527
Tom Djokovich, CEO
Joe Grimes, COO
Robert Wendt, CTO
Safe Harbor Statement: Matters discussed in this shareholder news letter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder news letter, 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.