XsunX Signs Licensing Contract With Globe Future

XsunX Inc., a developer of hybrid thin-film photovoltaic solar cell technologies and manufacturing processes, has entered into an agreement with Globe Future Technology Development Co. Ltd. (Globe Future) for the purchase of manufacturing systems and an operating license for XsunX's CIGSolar technology.

Under the agreement, XsunX will provide Globe Future with an initial baseline production system, and an additional 30 MW CIGSolar production system to produce CIGSolar cells.

The companies note that they will now work to complete a joint specification to ensure that CIGSolar system configuration meets the optimal compatibility and integration for Globe Future's specific needs. Once the parties have finalized specifications for the deliverables, Globe Future will post a letter of credit for the payment of the systems.

SOURCE: XsunX

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