XSNX Achieves Crucial Development Milestone
Letter to XsunX Shareholders:
On Schedule, XsunX Achieves Crucial Development Milestone
Dated: December 22, 2009
To Our Valued Shareholders,
It is with great pleasure that I announce to you the completion of our first fully-functional CIGS thin-film solar device. Through the vigilant efforts of our team of engineers and business partner, the initial iteration of this new hybrid device was executed according to our business plan, which outlined a year-end deadline for this stage of our development.
We’ve come a long way very quickly from when we first announced our exciting new business direction to adapt the manufacturing processes from the Hard Disk Drive (HDD) industry to thin-film CIGS solar technologies back in July 2009. As I mentioned then and what I still firmly believe now is that this strategic change not only helps drive the industry with innovative, new technology but also has the promising potential to bring solar to well below $1 per watt, thereby making solar a viable alternative in the energy field. Standing in contrast to our previous business model, this new approach is welcomed for dramatically reducing our capital requirements and lessening the need for potentially dilutive financing.
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