Solar Stock Alert: XsunX (OTCQB: XSNX) Reports CIGSolar® Producing Near Identical CIGS Films to 16.4% NREL Samples
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June 24, 2013 (Investorideas.com renewable energy newswire) XsunX, Inc. (OTCQB: XSNX) issues the following update from Tom Djokovich, CEO: Lately our updates have centered on our developing business opportunities, key markets, and the stabilizing solar market. In the background, we have been working full time with the CIGSolar® evaporator and we are excited to let you know that we are seeing some outstanding results.
Since the completion of the CIGSolar® evaporator assembly, we have carried out literally hundreds of incremental steps aimed toward establishing benchmarks, calibrating performance, and identifying or implementing potential improvements across our entire suite of system capabilities from material transport to CIGS deposition.
Our objective was to get the tool assembled, working, and producing results on par with the results we achieved during the initial technology development phase. The good news is that the tedious process of what seemed like endless incremental and iterative steps is now producing those types of results. Our internal testing of films is showing near identical film composition results to those recorded in a sample we provided to the National Renewable Energy Laboratory (NREL) during our development phase, which averaged 16.4% efficiency.
Not surprisingly, and we have mentioned this before a few times, our proprietary thermal co-evaporation heating, insulation, and nozzle technology have performed remarkably well and we are excited about our thin film processing results and commercial prospects of our multi-source design.
This progress also shows that we are on the right track and helps to strengthen our marketing capabilities as well as emphasizes our commitment to continued process and system improvements for the benefit our customers.
As always, we are working hard to capitalize the full potential of CIGSolar® for our shareholders and look forward to sharing more progress and news with you in the near future.
Tom Djokovich, CEO
About XsunX (OTCQB: XSNX)
XsunX, Inc. is working to commercialize a new manufacturing process to produce low cost, high efficiency thin-film Copper Indium Gallium (di) Selenide (CIGS) thin film solar cells. Our patent-pending processing technology, which we call CIGSolar®, focuses on the mass production of thin-film CIGS solar cells utilizing a proprietary multi-area thermal deposition process to minimize processing defects to create highly uniform CIGS films. These cells match silicon solar cell dimensions and can be offered as a non-toxic, high-efficiency and lowest-cost alternative to the use of silicon solar cells. The company is offering licenses for the use of the CIGSolar® process technology, and plans to generate revenue through licensing fees and manufacturing royalties for the use of the CIGSolar® technology.
To learn more about XsunX's' breakthrough technology please visit http://www.xsunx.com.
Safe Harbor Statement: Matters discussed in this shareholder newsletter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder newsletter, 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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