SOURCE: The X-Change Corporation

January 13, 2011 17:50 ET

The X-Change Corporation Completes the 2010 Audit and Files a 10k to Complete the Asset Purchase of 21-Century Silicon, Inc.

DALLAS, TX--(Marketwire - January 13, 2011) - The X-Change Corporation (PINKSHEETS: XCHC) today announced that it has completed the 2010 audit and will file the annual 10K with the SEC on Friday, January 14, 2010. With the filing, the Company will be able to complete the transaction previously announced with the State of Texas and 21-Century Silicon, Inc. Through its subsidiary, PolySilicon, Inc., the Company is in the final phase of closing on the assets of 21-Century Silicon, Inc., and is continuing to set up production operations for its new line of furnaces that will produce solar-grade silicon.

Through its proprietary technology, processes, and methods, the Company continues to refine its new process to manufacture solar-grade silicon metalloid at half the manufacturing cost, one-tenth the plant setup cost, and in one quarter of the plant set-up time of its major competitors. The Company is currently reviewing the methods to produce silicon wafers directly from the newly designed continuous-flow furnace. This cost to take one step out of the wafer manufacturing process would be a tremendous advantage for the Company. In the past several years, many former suppliers withdrew from the market due to lower market prices, unable to manufacture the material profitably. In recent months, the market price for polysilicon has increased due to the lack of manufacturing capacity. In addition, the US has begun an investigation into China's pricing of solar materials in the US market. Analysts estimate that demand will outstrip supply by 50,000 metric tons during 2011, indicating the price for solar-grade silicon will continue to rise.

Dr. Haviland Wright, CEO of X-Change, announced that La Jolla Cove Investors will continue to support and fund the expansion of the Company's new production facility. This expansion will enable us to compete aggressively in this rich and growing market. We look forward to soon producing from our newly designed furnaces.

The company continues to rely on Dr. Bruce Li and Peter Mei for their expertise in the design and manufacturing of the new furnaces to produce Solar Grade Silicon. Dr. H. Bruce Li co-founded 21-Century Silicon, Inc., in 2005 after he noticed sharp increase in the price of polysilicon for the photovoltaic industry. He holds a Bachelors Degree in chemical engineering from National Taiwan University and an M.S. and the Ph.D. degree in physics from Oklahoma State University. Dr. Li worked at Texas Instruments in Dallas for sixteen years in various capacities. He possesses a broad background in chemistry, physics, colloidal materials, semiconductor process, fuel cell process and structure, and nuclear engineering. Mr. Peter Mei has served in a number of executive positions, specializing in international marketing and sales for the semiconductor and silicon-fabrication industries. Prior to founding 21-Century Silicon, with Dr. Li, Mr. Mei served as vice president of technical marketing for GlobiTech. In addition, Mr. Mei served a 15-year career at Texas Instruments within the corporate R&D department. He has also served as worldwide technology transfer manager for Texas Instruments, Siemens, and Infineon. Peter holds both BS and MS degrees in electrical engineering from Rutgers and National Taiwan University, respectively. Mr. Mei is a Senior Member of IEEE and is a respected leader in the DFW Green Energy Entrepreneurial community.

PolySilicon's core manufacturing technology is based upon a proprietary furnace design that manufactures solar-grade polysilicon at half the cost of conventional methods. Combined with its patent-pending methods, PolySilicon's manufacturing process is a revolution within the industry and will position the company as a major player within the solar supply chain. Known in the industry as 6N Silicon, the company's product meets the specifications of photovoltaic supply companies. PolySilicon's manufactured product is 6N or 99.9999%- pure polysilicon. Depending on customer demand, it is offered in either chunk or granular form. Typically, PolySilicon offers its product in metric-ton quantities.

In contrast to its competition, the company manufactures solar-grade silicon at a low cost, with minimal production time, and with virtually no environmental hazards. The company is focused on meeting the supply needs of the solar industry while maintaining an environmentally friendly manufacturing process.

About The X-Change Corporation
The X-Change Corporation is a publicly traded company. In March, 2010, X-Change began a restart after a period of dormancy. X-Change is in the forefront new technology to produce solar-grade silicon and continues to innovate the production of such an important product in the Green Energy arena. The Company will continue to build shareholder value through the acquisition of Green Energy products.

Forward-Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information