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ALISO VIEJO, California, 14. March 2011/PRNewswire/-XsunX, Inc. (OTC Bulletin Board: XSNX), developer of the hybrid, thin film photovoltaic (TFPV) solar cell technologies and production processes, today announced the company has entered into an agreement with the Globe, the future Technology Development Co., Ltd. (Globe) for the purchase of production systems and the operating licence for the technology CIGSolar ™ in XsunX. Under this agreement will provide the future of the system initial XsunX Globe basic production and a further 30 MW CIGSolar production system to produce CIGSolar cells.
Joseph Grimes, XsunX is President and COO, remarked: "we are very lucky to have this agreement with the future of the Globe. This agreement also supports our business model and technology plan to introduce into the global market for solar technologies that are truly unique and to compete with silicon cell technology. " Mr. Grimes, he added, "continues to be the Silicon XsunX manufacturing industry as a segment of a large customer and we position customers for success as XsunX compete in silicon solar cell industry 18 billion dollars."
Under this agreement and, as a condition to the commitment of the parties will now work on the completion of the common specifications to ensure that your system configuration CIGSolar meets the optimal compatibility and integration for the specific needs of the future of the Globe. As soon as the parties, what kind of specifications for the supply of the future of the Globe, will post a letter of credit for payment systems.
Mr. Grimes further commented, "finalised our proposals and are preparing to build a system of production of our first baseline to use as our main marketing tool. Now we can update these proposals to the needs of a specific product recapitalise and the future of the Globe, our investments and still comply with our technology and roadmap. There's a lot of work ahead of us, but we are very impressed with the ability to run on our arrangement with the Globe, the future and hope to secure further commitment from the other waiting customers, as we proceed. "
The commitment of the Energy Globe future Technology Development Co., Ltd.
The future of the globe is committed to the new "heaven and Earth" energy policy with a focus on energy conservation, reducing emissions and protecting the environment. The future of the globe mainly deals with industrial investment operations in the field of management for the energy industry, including new energy-efficient technologies and the development. For example, projects for renewable energy (solar energy, biomass energy production, waste of electricity) and the energy savings and environmental engineering (heat, gas power, automatic top pressure recovery turbine (TRT). For more information visit the Web pages of the Globe, the future Technology Development Co., Ltd. at http://www.tdglobe.com
About XsunX
XsunX, Inc. develops and began to market a new manufacturing process to produce low cost, high efficiency of thin Copper Indium Gallium selenid (di) (CIGS) thin-film solar cells. The patent system and processing technology, which calls CIGSolar ™, XsunX is focused on mass production of thin film solar cells, BAM, which correspond to the dimensions of the solar silicon and may be offered as a non-toxic, highly effective and low cost alternative to the use of silicon solar cells. The company offers a license for the use of the technology CIGSolar ™ process and generate revenue through royalties and license fees for the use of production technology of CIGSolar ™.
For more information, call 888-797 XsunX on-4527, or visit the company's Web site at www.xsunx.com.
Safe Harbor statement
The matters discussed in this press release contains "forward-looking" within the meaning of the private Securities Litigation Reform Act of 1995. These forward-looking statements include known and unknown risks, uncertainties and other unknown factors which could cause the actual results of the operating company for the materially different from historical results or from any future results expressed or implied such a forward-looking statement. In addition to the Declaration, which specifically describe these risks and uncertainties, readers are urged to consider statements that contain expressions such as "may", "Yes," "should," "believes," "expect," "intend," "anticipate," "plan," "estimate," "be uncertain and perspective. Forward-looking statements contained in this document are also subject to risks and uncertainties, which are described in our last annual report on form 10-K under the heading "risk factors" and our subsequent filings with the Securities and Exchange Commission. We should not carry out any obligation to update publicly any forward-looking statement on the adoption of new information, future events or otherwise.
Source XsunX, Inc.
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