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8-K - NovAccess Global Inc. | v203886_8-k.htm |
Letter
to Shareholders
Business
Development Progress Update
XsunX
Expands Business Development Pipeline
Date:
11.22.2010
To Our
Valued Shareholders,
Even
though we still have work to do to complete our technology package, many
exciting things are happening at XsunX, most notably the achievement of our CIGS
conversion efficiency milestone of over 15 percent for cell
devices. Because of this achievement, we have received correspondence
from shareholders seeking to pinpoint precisely how this news will impact our
business development pipeline.
I wanted
to take this opportunity to communicate my perspective on these recent
developments as well as provide insight into the outstanding business
opportunities that lie ahead for XsunX and its shareholders.
Our
recent efficiency announcements have not only piqued our shareholders’
attention, but aroused the interest of numerous potential business partners as
well. As we continue to vet incoming inquiries it becomes clear that numerous
crucial differentiators of what we are working to deliver through our CIGSolar™
technology are attracting the increased attention of these interested companies,
including:
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The
opportunity to “make their own solar cells,” better control their supply
chain and lower solar cell input costs dramatically while simultaneously
building immunity to unpredictable pricing fluctuations and the struggles
associated with on-time delivery and quality of certain silicon cell
supplies;
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The
ability to reduce or eliminate reliance on the use of silicon solar cells
without having to necessarily change existing solar module dimensions.
This means the existing global silicon back-end module manufacturing
capacity can be serviced without the need for wholesale
re-tooling;
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Our
use of durable stainless steel substrates that match existing silicon cell
sizing, enabling higher yields by reducing assembly
breakage;
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Our
ability to provide a relatively small entry level 10 MW capital-efficient
CIGSolar™ manufacturing system which allows production to scale
incrementally in contrast to capital intensive alternatives for silicon
and monolithic thin-film production systems;
and
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Our
CIGSolar™ technology is based upon “Thermal Co-Evaporation” of CIGS, and
not “Sputtered” CIGS. Several interested parties acknowledge their
preference for the co-evaporative process, citing lower operating costs
and the opportunity to achieve higher conversion efficiencies through
co-evaporation.
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Our sales
channel is growing. In addition to initial discussions with numerous companies
seeking an in-depth understanding of our technology and value proposition, we
have entered into agreements with companies based in the USA, Italy, Germany and
China to deliver samples for evaluation, negotiate deposits and facilitate
continued business and licensing discussions.
To better
communicate with potential customers – the more than 150 companies worldwide
currently assembling at least 20 MW of silicon solar cells annually - we are
diligently working to update our website to more accurately depict the
underlying opportunities of CIGSolar™ and to capitalize on the increased market
potential presented by our development progress.
We remain
grateful to you, our shareholders, for recognizing and supporting the potential
of our CIGSolar technology as well as our management team, competencies and
vision. We look forward to sharing our revised website and more details about
our anticipated financial growth in the near future.
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,
Joseph
Grimes, President and COO, XsunX, Inc.
Safe Harbor
Statement: Matters discussed in this shareholder newsletter contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. When used in this shareholder newsletter, 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.