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8-K - NovAccess Global Inc. | v200050_8k.htm |
Letter to
Shareholders
Technology
Development Progress Update
XsunX
Achieves 15.09% CIGS Efficiency
Date: 10/26/2010
To Our Valued
Shareholders,
This week we are pleased to share with
you our next CIGS conversion efficiency milestone of 15.09 percent. It
was only one week ago that we reported successfully fabricating cell devices based upon the Company’s CIGSolar™
technology that surpassed 14 percent conversion
efficiency.
Achieving these high efficiencies in the
relatively short period of time since the addition of thermal co-evaporation to
our CIGS process only underscores our assertion that small-area,
co-evaporation production provides the best platform to deliver the highest
efficiency CIGS based solar cells necessary to compete with, and potentially replace, silicon photovoltaic (PV)
technologies.
We are very excited with these
results. Our goal has been to deliver to the
market, and to our shareholders, a better manufacturing solution and use for
CIGS. While there is still work to accomplish, our recent and rapid gains in
CIGS conversion efficiencies helps to substantiate our
direction.
Recently XsunX has been receiving
letters from shareholders asking how XsunX thinks it competes with other CIGS
technologies. This is a great question and one that we are very happy to
address. What XsunX has done is taken a different path than the rest of the CIGS
industry by focusing on identifying a large opportunity: the replacement of
silicon within an existing multi-billion dollar supply chain. We are not focused
on trying to do the same thing better than the competition in the CIGS thin-film
arena. We do not believe that there are significant gains to be achieved for the
use of CIGS by simply spending more time trying to improve the limitations to
current thin-film manufacturing techniques, or product
design.
That does not mean that we believe all
other CIGS solutions will fail, quite to the contrary. Virtually all markets
have numerous suppliers competing on different levels or within different
segments of a market. The electronics industry, transportation, cars, and now
solar provide examples of market segmentation. XsunX’s CIGSolar™ technology is
working to address a very specific and large segment of the solar market by
replacing silicon with lower cost high efficiency CIGSolar™
cells.
Deposition of the CIGS cell layer
is conducted on full size 125 mm square
substrates. Test configurations used to measure our efficiency results are identical to that used by the
National Renewable Energy Laboratory, and our AM1.5 solar simulator used for
testing is calibrated daily using a reference solar cell calibrated
by National Institute of
Standards and Technology (NIST).
Thank you for your continued support
and interest in our company. As we make progress, we
look forward to reporting back to you. As always, if you have any
questions in the meantime, please contact our Investor Relations desk at
investors@xsunx.com or (888) 797-4527.
Sincerely,
Tom Djokovich, CEO, XsunX,
Inc.
Safe Harbor Statement: Matters discussed in this
shareholder news letter contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. When used in this
shareholder news letter, 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.