XsunX up 30% on $41m thin film sale

Shares of Southern California's XsunX (BULLETIN BOARD: XSNX) rose as high as 30% this morning on the company's announcement of the sale of 25 mega-watts of thin film photovoltaic production equipment, valued at over $41 million USD.

The agreement with Mexico's Lambda Energia S.A. de V.C. involves a system sale and a royalty, in exchange for 25 megawatts of thin film photovoltaic production equipment and two product development tools specializing in the fabrication of micro-crystalline and amorphous thin film silicon solar cells.

Manufacture of the development tools is scheduled to begin in June 2007 upon receipt of an initial payment of $2.5 million USD from Lambda.

Delivery is scheduled to begin in January 2008, with the balance of production systems slated for delivery in late 2008.

"The demand for low cost solar products that can be easily integrated into buildings overwhelms the ability of suppliers to deliver these products," said Marco Adamo, President and founder of Lambda.

Lambda is based in Cuernavaca, Mexico. It is making what it calls "sales with strategic customers," and says it is focused on the European market.

XsunX recently announced plans to expand operations domestically to make thin film solar modules (see XsunX announces U.S. manufacturing facility.)