This update provides further details about the company’s key in-place and planned initiatives for the upcoming quarters and follows on the heels of its recently announced production agreement with Triview Glass Industries LLC, an award-winning custom fabricator located in suburban Los Angeles.
COLUMBIA, Md.--(BUSINESS WIRE)--SolarWindow Technologies, Inc. (OTCQB: WNDW) today provides an important update on the manufacturing, marketing and product fabrication targets for its electricity-generating products for tall towers and skyscrapers.
This update provides further details about the company's key in-place and planned initiatives for the upcoming quarters and follows on the heels of its recently announced production agreement with Triview Glass Industries LLC, an award-winning custom fabricator located in suburban Los Angeles.
Consuming almost 40% of all the electricity generated in the U.S., at a cost of over $140 billion, commercial buildings are ideal customers for the company's electricity-generating windows. SolarWindow™ products could reduce electricity demand by 30%-50% in tall towers and provide a one-year financial payback, according to independently-validated engineering modeling.
"Our first goal was to invent transparent liquid electricity-generating coatings for commercial use," states Mr. John Conklin, President and CEO of SolarWindow Technologies. "Now, our goals are to turn those inventions into fabricated commercial products and bring those products to market in order to turn entire buildings into vertical power generators."
SOLARWINDOW PRODUCTION AGREEMENT
SolarWindow has entered into a Process Integration and Production Agreement with Triview Glass Industries, LLC, which will serve as the company's regional glass fabricator.
With its state-of-the-art plant, producing twelve specialty glass product lines, Triview is the company's first-ever production site.
Important goals and features of the Agreement and SolarWindow partnership with Triview include:
Integration of SolarWindow™ coatings and methods into the Triview manufacturing processes;
Fabrication of specific SolarWindow™ electricity-generating products at commercial scale, at Triview;
Development of any patents, intellectual property, and new inventions or discoveries will be owned by SolarWindow; and
Existing processes at Triview are highly-adaptable to the development of new SolarWindow™ product lines, especially those featuring tempered, laminated, and insulated glass products.
Triview manufactures a wide variety of architectural and decorative glass products using specific production methods and processes which support the fabrication of SolarWindow™ electricity-generating glass.
In preparation of meeting immediate manufacturing, marketing, and expanded product application goals, SolarWindow is pleased to provide the following key in-place and planned initiatives:
Q4 (2017) - Q2 (2018): Capital raise for integration of SolarWindow ™ at Triview, the acquisition of coating and ancillary equipment for installation at Triview to fabricate electricity-generating glass products, and for working capital.
SolarWindow will provide ongoing updates on fabrication and production targets, and additional commercial collaborations.
Q2 - Q3 (2018): Follow-on capital raise for the build-out of technical and production personnel; and purchase and installation of additional manufacturing equipment, raw materials and supplies.
Ongoing updates on product lines; sales and marketing, and distribution channels will be provided by SolarWindow.
Novel SolarWindow technologies for generating electricity on glass are the result of numerous years of research and development. Among important breakthroughs which have enabled today's announcement:
SolarWindow scientists and engineers applied layers of the company's liquid coatings on to Corning® Willow® Glass and laminated them under conditions that simulate the high pressure and temperatures of the manufacturing processes used by commercial glass and window producers. The result is a bendable glass ‘veneer', as thin as a business card, which generates electricity;
SolarWindow™ electricity-generating coatings withstand real-world environmental conditions, including extreme temperatures variations; and
Engineers confirmed the ability of SolarWindow electricity-generating coatings to withstand the high-stress rigors of the ‘autoclave' manufacturing processes used by commercial glass and window producers. Autoclave-manufacturing is a common method of production for flat, curved, tempered and solar glass fabrication.
About SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.
Our liquid coating technology has been presented to members of the U.S. Congress and has received recognition in numerous industry publications. Our SolarWindow™ technology has been independently validated to generate 50-times the power of a conventional rooftop solar system and achieves a one-year payback when modeled on a 50-story building.
For additional information, please call Briana Erickson at 800-213-0689 or visit: www.solarwindow.com.