Cleantech Innovator Dr. John Tuttle Joins XsunX Team
Company Strengthens Its CIGS Technological and Business Capabilities
ALISO VIEJO, CA -- (Marketwired) -- 05/15/13 -- XsunX, Inc. (OTCQB:
XSNX), the developer of CIGSolar(R), a patent-pending technology for
the mass production of CIGS solar cells that offers a
capital-efficient, low-cost alternative to the use of silicon solar
cells, today announced that the Dr. John R. Tuttle had joined the
Company's Advisory Board. "John's extensive entrepreneurial
background and comprehensive knowledge of the Cleantech industry is
the perfect addition to XsunX at just the right time," stated XsunX
CEO, Tom Djokovich.
Over the last several years, the Company has been developing its
CIGSolar(R) technology while navigating the solar industry-wide
restructuring. Recently XsunX began its transition from focusing on
its CIGSolar baseline system design and build-out to marketing of its
CIGSolar(R) technology. The next logical step was the addition of a
seasoned industry innovation and business development veteran to aid
in this transition and further development of XsunX's business
relationships with customers and investors.
"There's been a paradigm shift occurring at virtually every level of
the solar industry including, and most significantly, how business,
the capital markets, and project finance assess the value of the
solar industry as a whole and, more specifically, the value of any
particular technology," added XsunX CEO Tom Djokovich. "Our current
requirement was to find someone with world-class CIGS experience and
someone who could also 'think outside of the box' -- or in the CIGS
business -- outside of the vacuum chamber to commercialize
technology. Dr. Tuttle's years of noteworthy experience at NREL
elevating the science and capabilities of CIGS, and his experience
transitioning innovation into operational results provides XsunX with
the hands-on capabilities that we were looking for," concluded Mr.
Dr. Tuttle brings 30 years of experience in the semiconductor &
photovoltaic industries to XsunX, and for the last several years has
focused on assisting with operational and capital management of
early-stage companies in the Cleantech sector. Previously, he was the
co-founder, Chief Executive & Chairman of DayStar Technologies, Inc.
where he took the company from 3 employees to an operational
organization with world-class development and pilot production
facilities, achieving an over 900% value creation for its IPO
From 1986-1997, Dr. Tuttle held the position of Senior Scientist at
NREL where his research guided the fabrication of thin-film CIGS PV
devices with multiple world-record efficiencies. He has
authored/co-authored over 70 publications, 14 Patent's / Patent
applications, and conducted over 100 presentations about technology &
business development. Dr. Tuttle holds a Ph.D. in EE from the
University of Colorado, an M.S. from the Colorado School of Mines and
a B.S in Applied and Engineering Physics from Cornell University. Dr.
Tuttle is joining as Senior Scientific and Business Advisor to XsunX.
XsunX, Inc. is working to commercialize a new manufacturing process
to produce low cost, high efficiency thin-film Copper Indium Gallium
(di) Selenide (CIGS) thin film solar cells. Our patent-pending
processing technology, which we call CIGSolar(R), focuses on the mass
production of thin-film CIGS solar cells utilizing a proprietary
multi-area thermal deposition process to minimize processing defects
to create highly uniform CIGS films. These cells match silicon solar
cell dimensions and can be offered as a non-toxic, high-efficiency
and lowest-cost alternative to the use of silicon solar cells. The
company is offering licenses for the use of the CIGSolar(R) process
technology, and plans to generate revenue through licensing fees and
manufacturing royalties for the use of the CIGSolar(R) technology.
For more information please call XsunX at 888-797-4527, or visit the
company's website at 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. Such forward-looking statements involve known and
unknown risks, uncertainties and other unknown factors that could
cause the Company's actual operating results to be materially
different from any historical results or from any future results
expressed or implied by such forward-looking statements. In addition
to statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"may," "will," "should," "believes," "expect," "intend,"
"anticipate," "plan," "estimate" to be uncertain and forward-looking.
The forward-looking statements contained herein are also subject to
risks and uncertainties that are described in our most recent annual
report on Form 10-K under the heading "Risk Factors" and our
subsequent filings with the Securities and Exchange Commission. We do
not undertake any obligation to update publicly any forward-looking
statements whether as a result of the receipt of new information,
future events, or otherwise.
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