XsunX Provides Mid-Year Update to Business and Product Development Initiatives
XsunX, Inc. issued a mid-year update on its product and business development initiatives. In January, the company launched a development initiative to commercialize a patent pending 4 terminal solar cell design. The design employs thin film transparent cell technology, derived from the company's Power Glass initiative, with that of a nano-crystalline solar cell. XsunX believes that the combination of these two technologies into a single device holds a promising opportunity to deliver low cost, high efficiency, flexible and light weight solar cells. Upon completion in 2007, XsunX plans to market this proprietary technology as an alternative to the use of lower efficiency multi-junction thin films and the more costly multi-crystalline solutions.
Also in January, XsunX began the construction of its first base line production system for the manufacture of its thin film solar cell designs. Incorporating the company's hybrid processing system, the design combines the scalability of reel-to-reel processing and the use of flexible rolled substrates, with the exact processing capabilities of cluster tool vacuum deposition systems. Designed as a first system for use in hands on marketing of the company's thin film technologies, the system's modular configuration also provides adaptability for the manufacture of a host of solar device types. Ideally suited for use in the manufacture of amorphous and other thin film type solar cells, XsunX hopes to enjoy broad market acceptance with these systems as thin film technologies continue to gain increased market acceptance.
Another milestone for the company was its launch of marketing efforts in April. In a presentation to the National Energy Marketers Association at their national energy restructuring conference, XsunX presented the benefits of its thin-film solar and hybrid manufacturing technologies for use in the development and delivery of an array of new power sources. With the launch of marketing and business development efforts, the company began receiving licensing inquires from manufacturers looking to capitalize on double digit growth predictions for the thin films markets. Responding to these requests, the company is actively working to negotiate licensing opportunities representing manufacturing capacities ranging from 1 to more than 100mW of annual production.
In May, the company began building a product development and marketing facility to support its expanding business development efforts. Upon completion, this new facility will allow XsunX to provide hands on demonstrations of its technologies which the company anticipates will help shorten the sales cycle for these multi-million dollar systems.
Finally, in June, XsunX began working to identify and secure government grants for the development of building integrated photovoltaics or ``BIPV.'' The BIPV market segment is the focus of the company's Power Glass thin film technology. Well-suited for use on the glass facades of modern high rise buildings, the company hopes to leverage government sponsored initiatives and product development partners from the glazing industry to commercialize its Power Glass semi-transparent thin films.
