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RenewableEnergyStocks.com Reports – “Energy Bill Passes Senate, Opening Doors for Renewable Energy Initiatives and Alternative Energy Market Growth” [General]

05/12/2005 @ 22:53 (GMT +9)

RenewableEnergyStocks.com Reports – “Energy Bill Passes Senate, Opening Doors for Renewable Energy Initiatives and Alternative Energy Market Growth” Senate’s passing of Energy bill bodes well for the Future of Renewable Energy Technologies and the Alternative Energy Industry. POINT ROBERTS, Wash., July 6th, 2005 – www.RenewableEnergyStocks.com (RES), an investor and industry news portal for the renewable energy sector, reports on the potential impacts of the Senate’s recently passed energy bill on the renewable energy industry and the technologies that comprise it through companies such as XsunX, Inc. (OTCBB: XSNX), a Building Integrated Photovoltaics developer, Intrepid Technology and Resources (OTCBB: IESV), specializing in renewable energy production projects, FuelCell Energy (NASDAQ: FCEL) a world leader in the development and manufacture of highly efficient hydrogen fuel cells for clean electric power generation, Ballard Power Systems (NASDAQ: BLDP), developer of proton exchange membrane fuel cells, and U.S. Geothermal (OTCBB: UGTH), a renewable energy development company focused on geothermal energy. Report Excerpt: Energy Bill Passes Senate, Opening Doors for Renewable Energy Initiatives and Alternative Energy Market Growth. By Ann-Marie Fleming, www.RenewableEnergyStocks.com July 2005 On June 28th, 2005 the Senate approved the energy bill with an overwhelming 85-12 vote in favor of the legislation. The energy plan omitted two controversial issues that were present in the bill passed by the House, which dealt with drilling in the National Wildlife Refuge in Alaska and leniency towards those firms that make a water polluting fuel additive. The legislation does include measures aimed at increasing ethanol use and contained approximately $18 billion in energy tax breaks. The Senate passed plan has many in the renewable energy industry cheering for the inclusion of a provision that requires that 10% of electricity sold by utilities to consumers must come from clean energy resources, such power produced by wind, geothermal and solar technologies. “The passage of U.S. Senate Bill H.R. 6 is a tipping point in U.S. energy policy trends aimed at establishing energy security and independence for the balance of this century.” stated Tom Djokovich, CEO of XsunX. “Some of the key aspects to the bill are its support for the adoption of solar energy production technologies in the form of residential and commercial tax credits not seen since 1982, and the adoption of the first-ever national renewable energy requirement, which stipulates that investor-owned electric utilities must generate 10% of their power out-put from renewable sources by the year 2020. These types of incentives should prove to be a watershed for growth opportunities for manufacturers, developers, and distributors of renewable energy technologies.” Fuel cell developers such as FuelCell Energy and Ballard Power Systems see key benefits from the bill. According to Steven Eschbach, FuelCell Energy’s Director of Investor Relations and Communications, “The Senate bill has two provisions that are truly helpful for our technology. There are two financial tax incentives, one is called the Investment Tax Credit which is a 30% investment tax credit up to $1000 per kilowatt and the second is a production tax credit which is a 1 ½ cent per kilowatt benefit for fuel cells, which are ideal for our scope of technology.” The energy bill has the potential for industry acceleration across the renewable energy landscape. As Michelle Cormack, Ballard Power Systems explains, "Should the energy bill be enacted and funded, Ballard and its industry and government partners will be able to accelerate the arrival of the hydrogen economy and the commercialization of fuel cell technology, quickening the pace of necessary research and development, putting more vehicles on the road through demonstrations, and beginning an earlier and more robust transition to market." To Read the Full Report Click Here Search for press releases here Submit Press Releases Here

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XsunX Announces Superior Results with the use of PEN-Based Plastic Films [General]

05/12/2005 @ 22:50 (GMT +9)

XsunX Announces Superior Results with the use of PEN-Based Plastic Films ALISO VIEJO, Calif., July 12, 2005 - XsunX, Inc. (OTCBB: XSNX), developer of Power Glass(TM) -- an innovative solar technology that allows glass windows to produce electricity from the power of the sun, announced today that continued development efforts in low temperature processing techniques on plastic films have produced superior results with the use of Polyethylenenapthalate (PEN). Accordingly, XsunX has chosen PEN as a preferred plastic film for the manufacture of Power Glass solar electric films. The Company's developing technology for the use of PEN-based films is producing solar cells with properties consistent to those found when using glass to manufacture the Company's solar cell design. This suitability of PEN as a substitute for glass, or other more expensive plastics, provide XsunX with economies in reduced manufacturing costs through the use of less expensive materials. Materials such as PEN-based plastics typically cost about 9 times less than other films currently in use for the manufacture of flexible solar cells. In addition to their cost advantages, PEN-based films are also readily available from a wide variety of manufacturers. The Company has begun work to establish compatibility of the evolving XsunX process with various manufacturers. This may prove to be a benefit to future licensee's of the XsunX process allowing access to multiple suppliers of PEN-based films. "Our goal has been to develop flexible, transparent, energy producing films that can be easily manufactured and integrated into building design and materials. This process of adding energy generation capabilities to building materials is today called Building Integrated Photovoltaics or `BIPV'," stated Mr. Tom Djokovich, XsunX's CEO. "Focusing on the use of PEN films will allow us to concentrate our resources on bringing a PEN-based solution to the BIPV market as soon as possible." "One of the many advantages to the use of renewable energy technologies is that in many instances new and developing technologies provide users with complementary solutions that do not compete for the same space on, or in a building. Deployed across different areas such as roofs, curtain walls, glass facades, in basements and unused portions of parking lots, renewables can be engineered as complementary technologies working together to provide energy independence," explains Mr. Tom Djokovich, XsunX's CEO. About XsunX XsunX, Inc. is developing Power Glass(TM) -- an innovative solar technology that allows glass windows to produce electricity from the power of the sun. This means that inhabitants of buildings that have Power Glass(TM) films integrated into the skin of the building will be able to continue to view the great outdoors -- as if they were looking through conventional glass windows. The difference is that these windows will now produce electricity to use to offset dependency on local utility supplied power and increase overall building operational efficiencies. This use of Photovoltaics in building materials is a growing market opportunity referred to as Building Integrated Photovoltaics or ``BIPV.'' XsunX intends to become a recognized leader in the Building Integrated Photovoltaics industry. The Company plans to market the XsunX Power Glass(TM) solar cell structure and manufacturing process as a competitive alternative to non-energy producing coatings and glazing for applications in the worldwide architectural glass, optical film, and plastics markets. Please visit the Company's website for more information: 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. Source: XsunX, Inc. XsunX, Inc. is a featured Company on RenewableEnergyStocks.com For full details Click Here Contact: XsunX, Inc. Tom M. Djokovich (949) 330-8060 Next Search for press releases here Submit Press Releases Here

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XsunX Inc. Secures $10.8 Million Financing Commitment [General]

05/12/2005 @ 22:48 (GMT +9)

XsunX Inc. Secures $10.8 Million Financing Commitment Structure Provides Flexibility to Fund Company Growth ALISO VIEJO, Calif., July 18, 2005 - XsunX, Inc. (OTCBB: XSNX.OB), developer of Power Glass(tm)-- an innovative solar technology that allows glass windows to produce electricity from the power of the sun, announced today that it has secured a total of $10,850,000 in financing with Cornell Capital Partners LP to support the continued development and growth of the Company. Under the agreement signed July 14, 2005, Cornell has committed to provide up to $10 million of funding in the form of a Standby Equity Distribution Agreement or (SEDA) to be drawn down over a 24-month period at XsunX's discretion in tranches up to $250,000 each. Once a registration statement is filed by XsunX, and declared effective by the Securities and Exchange Commission (SEC), the SEDA allows XsunX to raise capital as required in amounts deemed suitable by the Company over the two-year period. In addition, XsunX sold an aggregate of $850,000 of fixed price Secured Convertible Debentures to Cornell. The structure of the convertible allows Cornell to convert, at their option, into common shares of the Company at the fixed price of $.10. The Company received $400,000 of the debenture at the time of signing with an additional $450,000 to be advanced prior to the filing of a registration statement with the Securities and Exchange Commission (SEC) in connection with the transaction. ``Over the last year XsunX has been fortunate to have established strong relationships with partners such as MVSystems, Inc., made great strides in our product development, expanded our intellectual property assets, and now we have gained a strong partner in the area of finance,'' said Tom M. Djokovich, Chief Executive Officer of XsunX, Inc. ``This financing provides an opportunity for XsunX to accelerate various aspects of our business plan in efforts to bring Power Glass, a new Building Integrated Photovoltaic technology, to market as soon as possible.'' ``The renewable energy sector has attracted growing interest from the investment community and Cornell has been looking to make an entry into this exciting new growth industry,'' stated Mr. David Ratzker, V.P. Corporate Finance of Cornell Capital, LP. ``Our investment in XsunX provides us entry into the photovoltaics market through what we believe is an exciting approach to new uses and applications in solar technology.'' Dr. Arun Madan, Chairman of the XsunX Scientific Advisory Board and founder of MVSystems, Inc. was quoted as saying, ``The development of thin-film large area solar cells represents what we believe to be an important part of the expanding landscape of renewable technologies. We have developed a number of proprietary technologies in this area and with the advent of Cornell Capital's investment commitment we hope to accelerate efforts and leverage our relationship with Cornell into commercially viable products as quickly as possible.'' About XsunX XsunX, Inc. is developing Power Glass(tm) -- an innovative solar technology that allows glass windows to produce electricity from the power of the sun. This means that inhabitants of buildings that have Power Glass(tm) films integrated into the skin of the building will be able to continue to view the great outdoors - as if they were looking through conventional glass windows. The difference is that these windows will now produce electricity to use to offset dependency on local utility supplied power and increase overall building operational efficiencies. This use of photovoltaics in building materials is a growing market opportunity referred to as Building Integrated Photovoltaics or ``BIPV''. XsunX intends to become a recognized leader in the Building Integrated Photovoltaics industry. Upon completion of product development the Company plans to market the XsunX Power Glass(tm) solar cell structure and manufacturing process as a competitive alternative to non-energy producing coatings and glazing for applications in the worldwide architectural glass, optical film, and plastics markets. Please visit the Company's website for more information: XsunX.com About Cornell Capital Managed by US based Yorkville Advisers LLC, Cornell Capital Partners, LP is a key player in structuring and executing equity agreements. Facilities similar to this Standby Equity Distribution Agreement are widely utilized by companies in the USA, UK and Australia. To date, the Cornell group has made available in excess of $800 million for over 100 publicly traded corporations. For more information please visit: http://www.cornellcapital.com This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities mentioned in this release. The securities described in this release have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent an effective registration statement covering such securities or an applicable exemption from such registration requirement. 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. Source: XsunX, Inc. XsunX, Inc. is a featured Company on RenewableEnergyStocks.com For full details, click here: Contact: XsunX, INC. Tom M. Djokovich (949) 330-8060 Cornell Capital Partners, LP David Ratzker, VP Corporate Finance (201) 985-8300, Ext. 130 Next Search for press releases here Submit Press Releases Here

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