Thursday, September 25 2008 7:30 AM, EST
Electricity Needs From Renewable Sources Is Growing; XsunX to be a part of the Solution
M2 "Press Wire "
M2 PressWIRE - September 25, 2008 - ALISO VIEJO, Calif -- XsunX, Inc. (OTCBB: XSNX), a solar technology Company engaged in the build-out of its multi-megawatt amorphous thin film photovoltaic (TFPV) solar manufacturing facilities in Oregon, said today's passage of the solar ITC legislation by an overwhelming vote of 93 to 2, coupled with the adoption earlier this month of the California Public Utilities Commission call for energy efficient homes by 2020 are significant regulatory actions that are expected to be significant for XsunX in the future. "With this legislation by the Senate, that extends the solar investment tax credit by eight years, coupled with actions such as that in California, as well as numerous Western States, XsunX is particularly well positioned for growth," said Tom Djokovich, CEO of XsunX.
Djokovich noted that the extension of the solar tax credit is a huge bonanza to the solar industry's future, "Couple this with the recent moves by some 24 states, representing more than have of the electricity sales in the US, to have mandatory renewable portfolio standards (RPSs) that specify that electric utilities generate a certain amount of electricity from renewable sources. Furthermore, these RPSs require a certain percentage of a utility's power plant capacity or generation to come from renewable sources by a given date," he said.
XsunX is progressing with the build out of its first 25MW TFPV manufacturing facility and is now fully engaged in efforts to complete facility improvements having completed demolition of the existing facility infrastructure. The company is in the process of assembling a pilot line and elected to do so at the facilities of its plasma enhanced chemical vapor deposition ("PECVD") supplier with XsunX scientists working from this facility to improve collaboration and completion of the primary system build out. The pilot line can replicate all the production processes to make scaled samples.
"The need for alternative and diverse sources of energy is just beginning with real growth yet to come and the company is tactically positioned to be a part of the solution to an increasing demand for renewable energy," Djokovich said. "Our objective remains to reduce the dependence on carbon based fuels and we are on route to producing our tandem junction thin film amorphous silicon solar modules," he concluded.
SafeHarborStatement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, 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.
XsunX, Inc. is a featured Company on RenewableEnergyStocks.com
((Comments on this story may be sent to
info@m2.com))
© 2008 M2 COMMUNICATIONS LTD
