ALISO VIEJO, Calif., Jan. 8, 2007 (PRIME NEWSWIRE) -- XsunX, Inc. (OTCBB:XSNX), developer of advanced manufacturing systems and cell structures for solar energy, today announces the appointment of Mr. Jeff Huitt to the position of Chief Financial Officer. In his new position, he will focus on finance related to reporting and compliance, audit, strategic planning, and the management of growth for the firm.
According to Joseph Grimes, the COO of XsunX, "Jeff's thorough understanding of the critical strategic, tactical and compliance issues related to all areas of business operations will help us scale our financial infrastructure as we extend commercially into the thin film photovoltaic market place."
Mr. Huitt has already provided operations management services for the Company and adeptly coordinated resources for XsunX. He has 20 years of experience in leadership positions of both larger organizations and start-ups, most recently as COO/CFO of a privately held company in the defense industry where he guided the company to revenue growth of over 250 percent and delivered superior returns on investment. His additional experience includes venture capital, technology and non-technology startups, plus service as Controller of Qwest Wireless.
"I am excited about joining a fast growing and strategically important industry, particularly with XsunX which is so well positioned in its industry. My background and experience with internal controls, regulatory compliance and the profitable growth of developing companies are a great fit and I'm looking forward to the experience," added Mr. Huitt.
"Over the last several months we have been working to broaden our business development channels and strategic technology relationships. The recent addition of a vice president of engineering and now, the addition of Jeff Huitt as CFO will help us execute our plans and manage growth," concluded Grimes.
Huitt holds two degrees from the University of Denver: a Bachelor's of Science in Accounting and a Master's in Business Administration.
About XsunX
Based in Aliso Viejo, Calif., XsunX is developing and commercializing innovative new thin film photovoltaic (TFPV) solar cell technologies and manufacturing processes to service expanding global energy demands. The Company has focused its efforts on lowering the cost per watt of solar power and making solar cell technology easier to use in a wide variety of applications. XsunX provides new manufacturing techniques that can significantly lower production costs and allow for easier additions to production capacities and technology upgrades to manufacturers without their having to re-build and re-tool. Together, XsunX design and production innovations offer manufacturers of solar products exciting new application opportunities and reductions to the cost per watt of solar power.
More information can be found at the Company's multi-lingual website: 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" 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.