XsunX has declared that it has signed a contract with Globe Future Technology Development for procuring production equipment and a working license for CIGSolar technology of XsunX.
As per the agreement, Globe Future will receive an initial standard manufacture system and a supplementary 30 MW CIGSolar manufacture system from XsunX for developing CIGSolar cells.
Joseph Grimes, President and COO of XsunX, has stated that the agreement further augments their business and technical strategies to release innovative silicon cell technology solutions in the global solar market. He added that they will continue to focus on the silicon cell production market as a leading client segment and help their clients to compete in the $18 billion worth silicon cell segment.
Both the companies will work together to achieve a combined specification to assure that the configuration of the CIGSolar system can cope with the specific optimal reliability and integration requirements of Globe Future. After confirming the specification, a letter-of-credit will be sent by Globe Future for the payment of the deliverables.
Mr. Grimes mentioned that the design of the system has been completed and they have started developing their initial standard manufacture system, which will serve as a preliminary marketing tool. He mentioned that the designs will be upgraded to address the product requirements of Globe Future and also to make use of the investment quickly while still coping with their technology and marketing goals. He added that in future they are looking forward to obtaining additional orders from other clients as well.