XsunX, Inc. announced that Lambda Energia S.A. de V.C., a company pursuing manufacturing opportunities in renewable energy, has entered into agreements with XsunX for the delivery by XsunX of 25 MW of thin film photovoltaic production equipment, valued at over US$41 million.
The agreements, consisting of system sales and a royalty based per watt manufacturing license, provide for 25 MW of thin film photovoltaic production equipment and two product development tools specializing in the fabrication of micro-crystalline and amorphous thin film silicon solar cells. Manufacture of the product development tools is scheduled to begin in June 2007 upon receipt of an initial payment of $2.5 million USD from Lambda with delivery scheduled to begin in January 2008, and the balance of production systems slated to begin deliveries in late 2008.
Tom Djokovich, CEO of XsunX, announced the sale and license agreements and stated, "This license agreement and equipment sale with Lambda represents a significant milestone in the business development efforts of XsunX. The group that has formed Lambda has a track record of success in commercializing new technologies and we are anxious to begin working with them and supporting their efforts to bring thin film solar cell products to market. "
"Lambda Energia expects to achieve broad market success with the thin film solar products we will manufacture under license from XsunX," stated Dr. Marco Adamo, President and founder of Lambda. "The demand for low cost solar products that can be easily integrated into buildings overwhelms the ability of suppliers to deliver these products," Dr. Adamo continued, "and the thin film products that Lambda will produce using XsunX’s technologies are well suited to meet this demand."
XsunX continues to aggressively pursue system sales and licensing efforts with a host of international companies and recently announced plans to expand operations domestically to include the manufacture of thin film solar modules. Upon completion of the necessary manufacturing facilities to produce solar modules, XsunX will begin servicing the U.S. market with thin film solar energy products.