MANDEVILLE, La., Nov. 25, 2005 (PRIMEZONE) -- Crosspoint Group, Inc. (Pink Sheets:CPGP) today announced that it had entered into an agreement to acquire SunJoi Solar, Inc., which will become a subsidiary of Crosspoint Group. SunJoi Solar(tm) is a photovoltaic thin film panel or module manufacture and sales corporation located on the Gulf Coast. Photovoltaic (PV) sales have been increasing at an average of 30 percent annually.
SunJoi has in place the technology and allocation network to improve module prices and to bring the sun's energy to every home. SunJoi will bring this cost under control by hitting these issues on three fronts:
1. The performance of the modules (efficiency or W/m2) -- Using SunJoi Technology in thin film
2. Its direct industrialized cost ($/m2) -- SunJoi plans on reducing overhead by using robotic technology
3. Increased volume of fabrication -- SunJoi's patent of Fast Stream ITO material, and basic layering of the panel
SunJoi's goal will be to lower the overall cost and open new energy-significant markets for PV Thin-Film.
Examples of such markets are: residential and commercial rooftops for daytime loads, distributed utility grid support, hybrid systems for decentralized rural electrification, hybrid systems (with gas-powered fuel cells or micro-turbines) for distributed power networks and PV with storage (compressed air) or PV for hydrogen production.
Forward-looking statements in this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of CPGP's products, increased levels of competition, new products and technological changes, CPGP's dependence on third-party suppliers.
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