Nov 25 2008
XsunX, Inc. (OTC Bulletin Board: XSNX), a solar technology company engaged in the build-out of its multi-megawatt thin film photovoltaic (TFPV) solar manufacturing facilities in Oregon, announced today that it had entered into a two-year supply contract for the sale of fifteen (15) megawatts of it ASI-120 TFPV solar modules to a full service solar power company specializing in commercial and solar farm projects located in the California and Hawaiian markets.
"We are pleased to announce this sales agreement to supply 15 megawatts of our ASI-120 TFPV solar modules," stated Tom Djokovich, CEO of XsunX. "This agreement represents approximately $37 million dollars in total contract value with an initial 5 megawatts valued at $13 million slated for delivery in calendar 2009, and the remaining 10 megawatt balance for delivery in calendar 2010. The recent passage of an eight year extension to the 30% Federal Investment Tax Credit is spurring renewed vigor in solar project demand and we are working to fill our projected production capacity over the next several years with additional purchase agreements," concluded Djokovich.