XsunX Inc. (XSNX.OB) New Technology Receives High Marks in IBIS Associates Study

QualityStocks would like to highlight XsunX, Inc., (OTCBB: XSNX) developer of CIGSolar™, a new hybrid manufacturing solution to produce high performance thin-film CIGS solar cells. These CIGS solar cells may soon offer a non-toxic, high-efficiency and lowest-cost alternative to the use of silicon solar cells currently used to manufacture nearly 80% of all solar modules world wide.

In the company’s news yesterday,

XsunX said it received positive feedback from a study done by IBIS Associates Inc., a technology strategy and business development consulting company focused on advanced materials and manufacturing technologies. The study observed the potential impact of XsunX’s CIGSolar technology in the global solar market, especially in regards to its efficiency and saving capabilities.

IBIS determined that CIGS-based solar cells could achieve savings of more than $646 million by 2015 in the global photovoltaic market by replacing only 500 megawatts of multi-crystalline silicon usage with CIGS cells.

“With the industry’s renewed focus on CIGS untapped potential, we believe we are positioned to reach the market at an optimal time,” Tom Djokovich, CEO of XsunX, stated in the press release. “It became very clear to us at the InterSolar conference in San Francisco this month that CIGS was becoming the ‘darling’ of the solar industry, and XsunX is working to capitalize on this timing.”

IBIS’s five-year savings estimate incorporated XsunX’s joint-venture licensing model that calls for the deployment of manufacturing capacity of CIGSolar.

XsunX began developing CIGSolar last fall, and said it is working to include leveraging and adapting expertise and cross-cutting technologies from the hard-disk media and high-speed flex circuit printing industries with thin-film CIGS techniques in the mass production of individual CIGS solar cells.

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