XSunX, Inc. (XSNX.OB)

Posted: Mon Aug 18, 2008 8:54 am

XSunX, Inc. has become a rapidly growing solar energy company since shifting their business focus in 2007 from technology licensing to producing and marketing thin-film, amorphous solar modules. The company was created in 2003 to develop and commercialize advanced, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes.

Already in the works is a multi-megawatt solar module production facility in the U.S. and a baseline production system expected to be on-line early this year. The baseline will become the blueprint for a 25 megawatt (MW) system that will be used to launch commercial solar module production by the year’s end. By 2010, the company anticipates to have the solar module manufacturing capacity to be producing at 100 MW annually.

The solar energy technology sector currently generates $10 billion in annualized revenues and has been consistently growing at 35-40% every year. Throughout China, Europe, Japan and the United States significant investments have been made in the solar energy sector. With governments offering financial incentives that encourage the utilization of clean, renewable, and new technologies, many experts believe that the solar photovoltaic (PV) market will reach $25 billion by the year 2011.

Thin film technologies, like the ones manufactured by XSNX, offers the lowest cost per watt at the module level. With this in mind, thin film’s share of the overall solar photovoltaic market is expected to increase from around 5% to as much as 20% in five years, while the deployment of thin film technologies grow much faster than the overall PV market.