New Supply Contract For XsunX (XSNX)
XsunX, Inc announced that it has negotiated a 2 year supply contract with a solar power company that operates in California and Hawaii. Under the agreement, XsunX will supply the company with 15 MW of its ASI-120 TFPV solar modules.
Tom Djokovich, XsunX’s CEO, commented on the agreement, saying:
“We are pleased to announce this sales agreement to supply 15 megawatts of our ASI-120 TFPV solar modules. This agreement represents approximately $37 million dollars in total contract value with an initial 5 megawatts valued at $13 million slated for delivery in calendar 2009, and the remaining 10 megawatt balance for delivery in calendar 2010. The recent passage of an eight year extension to the 30% Federal Investment Tax Credit is spurring renewed vigor in solar project demand and we are working to fill our projected production capacity over the next several years with additional purchase agreements,” concluded Djokovich.
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