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Aliso Viejo, CA, September 29, 2004 – XsunX, Inc. (OTC BB: XSNX), developer of an innovative process to produce solar electric vision glass, has entered into a collaborative venture for the use of world class research and development facilities to further technology development of its semi-transparent solar electric glazing processes. The collaboration with MVSystems, Inc., which provides R&D for the U.S. Department of Energy, is structured under a deliverables program providing incentives for various milestone achievements.
The Company is now working with specialists in the laser sciences field for the development of laser processes related to the manufacture of large area semi-transparent solar cells. “We are very pleased with our laser research results and progress to date,” stated Tom Djokovich, CEO of XsunX, Inc. “We hope to build on our success with MVS and structure a collaborative incentive based milestone program with a laser science group helping to accelerate the development and commercialization of our Power Glass™ technology.”
These efforts are part of XsunX’s ongoing plan to establish collaborative ventures with select qualified facilities that specialize in material, manufacturing, and laser engineering sciences. Anticipated to provide the Company with the fastest path to marketable products, t his development process maximizes the use of capital resources, and is providing broad access to material, manufacturing, and laser engineering facilities and technical expertise.
Based in Aliso Viejo, California, XsunX is developing its patented process to produce solar electric vision glass. This proprietary process is 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 solar electric glazing technology has a number of major market opportunities in the worldwide architectural glass, optical film and plastics markets. Please visit the Company's website for more information: https://XsunX.com
CONTACT:
XsunX, Inc.
Tom Djokovich, CEO
(949) 330-8060
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.
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