ALISO VIEJO, Calif., Dec. 9, 2003 (PRIMEZONE) -- XsunX (OTCBB:XSNX), the developer of a breakthrough technology to produce solar electric glass, announced today that it has relocated its corporate offices to Aliso Viejo, part of the powerful Orange County, Calif. technology center. The company will now have access to the unique technological and business infrastructure provided in this region. This is demonstrated by the diversity of industries represented -- from materials science to medical devices -- as well as the intellectual resources to support this diversity.
"Since we are planning to launch our commercial development in January, we felt that we needed greater access to some of the best minds" stated Tom Djokovich, CEO of XsunX. "Aliso Viejo is an ideal place to locate because of the abundance of experienced high tech players in the area, as well as its proximity to the University of California at Irvine. We have made great progress interviewing candidates for our development team and our technology advisor board."
Mr. Djokovich further stated, "The tremendous opportunities for XsunX technology have continued to unfold and by January of next year we look forward to launching our drive to commercialize the XsunX process and position the company as a leader in the building integrated energy technologies market."
Unlike the majority of current solar cell technologies, XsunX glazing integrates with the previously under utilized, or simply unused, portions of a buildings structure in the form of architectural glass. This unique attribute provides XsunX with a direct path to the market -- a path where the company does not compete with current opaque solar cell designs for rooftops and other architecturally limiting locations.
The Company believes that as the renewable energy system markets continues to expand XsunX glazing provides marketable opportunities as both a stand-alone energy producing system and as an integrated part of building wide alternative energy producing systems on roofs, in basements and building facades.
ABOUT XsunX
Based in Aliso Viejo, Calif., XsunX is the provider of a breakthrough technology to produce solar electric glass. This proprietary process is intended to allow manufacturers to apply a transparent and photovoltaic glazing to glass and other transparent substrates. When XsunX glazing is exposed to light, the light energy is converted into electrical energy for use as a power source.
XsunX believes that its patented solar electric glass technology has a number of major market opportunities in the multi-billion dollar worldwide architectural glass markets. The company intends to take advantage of this commercial opportunity to provide governments, developers, businesses and architects with a commercially viable method for converting today's large areas of architectural glass into virtual power plants. Please visit the Company's website for more information: http://www.XsunX.com.
Safe Harbor Statement: 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", "potential" 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.