XsunX, Inc. (OTC BB: XSNX) utilizes its own licensed technologies to design and create a new cutting-edge manufacturing system in order to produce and market thin-film amorphous solar modules. The Company was originally formed in 2003 to develop and commercialize advanced, thin-film photovoltaic (TFPV) solar cell technologies and the manufacturing processes.
XsunX will initially produce solar cells and modules incorporating thin-film amorphous silicon on glass substrates and anticipates marketing its solar cells and modules to large-scale solar energy device installers and operators. This list of installers and operators include solar farms, power purchase associations, utility companies and government agencies. The Company is also looking into expanding its product offerings to include nano-crystalline and proprietary multi-junction solar designs that will improve performance and further reduce per watt production costs. The company has various pre-sales agreements with solar integrators already established.
The energy demand worldwide is high and continuing to rise. With rising energy demands, fossil fuel resources are depleting and oil and gas prices are sky-rocketing. These energy standards and the push for a cleaner environment worldwide are fueling the demand for clean alternative energy sources such as wind and solar energy. The solar energy technology sector currently generates $10 billion in annualized revenues and has been growing 35-40% annually as a result of significant investments in new production facilities and technologies in Europe, the US, China and Japan.
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