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SolarWindow Completes $2.6 Million Financing

Will use financing to advance manufacturing, marketing and product fabrication.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

SolarWindow Technologies, Inc. announced that the company has completed a private placement financing for approximately $2.6 million from four investors, three of whom have been long-term shareholders and supporters of SolarWindow.
 
The company intends to use the proceeds from the financing for general working capital purposes, including the further advancement of its previously announced manufacturing, marketing and product fabrication initiatives for its electricity-generating glass products for commercial buildings.
 
“With this round of financing in hand and a Process Integration and Production Agreement with Triview Glass Industries, an award-winning custom glass fabricator, we’re moving forward with turning our first-ever inventions into first-ever electricity-generating windows,” said John Conklin, president and CEO of SolarWindow Technologies.
 
Targeting commercial buildings, such as tall towers and skyscrapers, which consume almost 40% of all the electricity generated in the US, the company’s electricity-generating windows could reduce electricity costs by 30% to 50% and shows a one-year financial payback for building owners.
 
The financing consisted of the issuance by the company of 821,600 units at a purchase price of $3.11 per unit, with each unit consisting of one share of common stock and one share purchase warrant, having an initial exercise price of $3.42 and a five-year term.

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