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, a custom fabricator located in suburban Los Angeles.
Consuming almost 40% of all the electricity generated in the U.S., at a cost of more than $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,” said 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 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 12 specialty glass product lines, Triview is the company’s first-ever production site.
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 provides 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.
• 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.