ALISO VIEJO, Calif., May 8, 2006 — XsunX, Inc. (OTCBB: XSNX), developers of Power Glass™ — an innovative thin-film solar technology that is intended to allow glass windows to produce electricity from the power of the sun — today announced that the Company has begun the build out of new facilities in Golden, Colo., which when fully configured, will house the Company’s first complete product development and technology marketing facility.
As a key provider of technologies for solar energy infrastructure, XsunX plans to license its proprietary designs such as Power Glass thin films and future products to thin-film and other specialized manufacturers. A key part of this relationship is the sale to licensees of the turnkey manufacturing systems used in the production of the Company’s proprietary solar cell designs. The new facility in Golden will house a complete manufacturing system that will allow XsunX to develop photovoltaic films all the way through assembly of actual working panels and products, both for product refinement and demonstration to licensees.
According to Tom Djokovich, chief executive officer of XsunX, Inc., “We are very excited about the launch of this new facility. We believe that thin-film solar technologies represent one of the largest untapped market opportunities in the solar energy industry, and that our technologies represent some of the more advanced thin-film designs and manufacturing processes available today to service this untapped opportunity. With the completion of our new facility build out and technology infrastructure, a complete product development and marketing facility will be available to support our expanding business development efforts.”
It is evident that others are beginning to see the same potential for thin-film solar technologies as XsunX. Last week, Applied Materials Inc., a semiconductor manufacturer, announced the intended purchase of Applied Films Corp., a provider of thin-film manufacturing equipment. The deal was driven by what Applied Materials saw as the potential for solar cell and equipment markets to grow worldwide at an annual compounded rate of 35 percent to 45 percent by 2010. According to Applied Materials, Inc., this represented the potential of an additional $1 billion in revenues over the next several years.
Preparation of the new facility is expected to be completed in July of this year, at which point setup of the XsunX technology infrastructure will begin. The Company began development of its first mass production system in January and expects that system to be ready for installation in the new facility later this year.
The XsunX manufacturing system is based upon a patented hybrid design combining the scalability of reel-to-reel processing and the use of flexible rolled substrates with the exacting capabilities of cluster tool vacuum deposition systems. Early tests completed in March 2006 suggest the potential for system scalability and the reduction of per watt manufacturing costs
Based in Aliso Viejo, California, XsunX is the developer of Power Glass - an innovative solar technology that allows glass windows to produce electricity from the power of the sun. 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
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.