Aligning needs and opportunities in the workplace

Careers and Employment Journal

Subscribe to Careers and Employment Journal: eMailAlertsEmail Alerts newslettersWeekly Newsletters
Get Careers and Employment Journal: homepageHomepage mobileMobile rssRSS facebookFacebook twitterTwitter linkedinLinkedIn


Careers Journal Authors: Mat Rider, Hiren Y, Jyoti Bansal, SmartBear Blog, Lacey Thoms

Related Topics: MultiTouch Developer Journal, Careers and Employment Journal, Infrastructure 2.0 Journal

News Feed Item

XsunX Provides Update on its Plans to Build a Multi-Megawatt Thin Film Solar Cell Factory

XsunX Provides Update on its Plans to Build a Multi-Megawatt Thin Film Solar Cell Factory

ALISO VIEJO, Calif., May 7 /PRNewswire-FirstCall/ -- XsunX, Inc. (BULLETIN BOARD: XSNX) , a developer of advanced manufacturing systems and cell structures for thin film photovoltaic solar energy, today provided updates to its plans to build a multi-megawatt production facility in the United States in order to supply the growing domestic demand for solar renewable energy.

The Company believes that its decision to expand operations to include the manufacture of thin film solar modules is consistent with its overall business strategy to develop photovoltaic technologies and products. Mr. Kurt Laetz, Vice President of Sales and Marketing commented, "Management's decision to tap the domestic market, one of the fastest growing renewable markets in the world, not only allows XsunX to develop revenues through direct sales of finished solar products, but will reduce the effort and collaboration required in establishing new J.V. licensees of similar facilities."

"As for our current sales efforts we have been working with interested customers to tailor solutions to their needs and we anticipate that we will soon announce the first of what we anticipate will be several international manufacturing partners," concluded Mr. Laetz.

In March, the Company had announced the initial stage of its expansion efforts with the anticipated acquisition of an existing solar module manufacturing facility. "We had anticipated the use of many aspects of the facility's existing infrastructure, including its product assembly backend, for use in the launch of our thin film line," stated Tom Djokovich, XsunX's CEO. "While we continue to work towards what we hope will be a successful completion to this transaction, the seller has notified us of a change in direction and decision not to honor the sales agreement."

In addition to the Company's efforts to acquire the existing solar facility, they have begun an aggressive effort to identify either similar facility opportunities or regions providing government support and a qualified work force. "We have been approached by various states looking to strengthen their renewables infrastructure and expand job opportunities," continued Djokovich. "At the same time, interest in our manufacturing expansion plans appears to be strong on Wall Street as well. We are hiring qualified people to help us plan and execute this expansion and working towards the goal of beginning the build out of a manufacturing facility in October 2007. Our sales efforts appear to be coming to fruition and with the launch of business expansion plans, we anticipate that our shareholders will have a lot to look forward to this year," concluded Djokovich.

About XsunX

Based in Aliso Viejo, Calif., XsunX is developing and commercializing innovative new thin film photovoltaic (TFPV) solar cell technologies and manufacturing processes to service expanding global energy demands. The Company has focused its efforts on lowering the cost per watt of solar power and making solar cell technology easier to use in a wide variety of applications.

More information can be found at the Company's multi-lingual website: http://www.xsunx.com/

For more information, contact Investor Relations at XsunX, Inc. (888) 797-4527

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.

XsunX, Inc.

CONTACT: Investor Relations of XsunX, Inc., +1-888-797-4527

Web site: http://www.xsunx.com/

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.