XsunXInc (OTCMKTS:XSNX) is sitting just over $0.01 support on moderate volume in recent trading after an explosive move up off its base at $0.004 to a high of $0.029.
XSNX has runner in its blood; back in 2006 the stock ran from pennies to spectacular highs well over $2.50 a share. Now that the solar space is heating up and XSNX has formed a new base over a penny and has momentum on its side investors are starting to pay attention.
XsunX Inc (OTCMKTS:XSNX) provides solar energy solutions that deliver significant bottom-line financial benefits to businesses. They specialize in the sale, design, and installation of commercial solar power systems.
The Company has a highly skilled team of qualified engineering and specialty contractors with extensive commercial solar experience necessary to service the diverse conditions that can be encountered in commercial buildings.
XSNX has developed CIGSolar™ a new hybrid manufacturing solution designed to produce high performance, low-cost thin-film CIGS solar cells. CIGSolar™ cells offer a low-cost alternative to traditional silicon solar cells.
The Company’s patent-pending approach of combining reliable, high output manufacturing technologies with proven small-area evaporation deposition processes delivers the highest efficiency CIGS thin-films. Utilizing rapid single-cell production techniques, our system architecture improves control of the manufacturing environment, resulting in substantially higher levels of quality control and solar cell performance.
On January 13 XSNX announced it has signed an agreement to design and install a 260kW commercial-use solar power system for a large automotive parts manufacturer based in Southern California.
The deal, capable of powering about 85 average size homes, is expected to be worth about $600,000 and together with other deals already secured or pending, places the company well on the path of continued double digit growth in commercial solar power contracts this quarter.
The success is representative of the growth expected by XsunX leadership following a year where considerable time and resources were allocated to building operational infrastructure. Although 2014 was the year that XsunX began to generate revenue through commercial solar power system sales, the Company was primarily focused on laying the groundwork for future execution by focusing on customer satisfaction, strengthening its value proposition to improve sales, vetting its vendor and trade network, and identifying aspects of the business in which it could differentiate itself from competition.
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CEO Tom Djokovich said “This is certainly an exciting time to be leading a commercial solar power solutions provider into the New Year. We have begun to realize our goal of double digit growth. And, with XsunX providing solar energy solutions that deliver significant bottom-line financial benefits to businesses, we believe that this trend of sales growth has every opportunity to continue.”
Solar is a great place to be right now, the industry is growing by leaps and bounds. In the first three quarters of 2014, 3,966 megawatts of solar capacity were installed in the U.S., compared to 2,647 MW in the first three quarters of 2013. Solar deployment is not only expanding, but the pace at which it’s growing keeps accelerating. In 2014, according to a new report from the Solar Foundation, an independently funded think tank, the solar industry added workers almost 20 times faster than the overall U.S. economy, accounting for almost 1.3 percent of all jobs created.
Southern California is considered to be one of the hottest solar markets in the world right now, as referenced by a recent Tech Republic article that highlighted the 242,000 solar projects throughout the state with 2,279 megawatts installed. Of these installations, Los Angeles leads with 238 megawatts, and San Diego comes in second with 182 megawatts, representing the two largest cities in Southern California.
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Currently trading at a $10 million market valuation XSNX seems to have found a solid direction boasting small but fast growing revenues. One big positive here is a loyal shareholder base of investors who believe in the Company and its future; a break over $0.02 and this one is wide open…We will be updating on XSNX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with XSNX.
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Disclosure: we hold no position in XSNX either long or short and we have not been compensated for this article.