COLUMBIA, Md.–(BUSINESS WIRE)–SolarWindow Technologies, Inc. (OTCQB:WNDW), the leading developer of
transparent electricity-generating coatings for glass windows on tall
towers and skyscrapers, today issued its mid-year 2016 update.
Below is the statement from John A. Conklin, President and CEO of
2016 marks our advancement from scientific research to the commercial
development of our SolarWindow™ products.
Our scientists, engineers, management, and loyal stockholder supporters
remain entirely devoted to this mission, even overcoming external
factors such as stock market fluctuations and global political and
Having just completed a $4.3 million financing, I believe this is an
appropriate time to update shareholders about the progress made by our
team over the last two quarters.
SolarWindow™ has the potential to reduce our dependency on fossil fuels,
thereby transforming the renewable energy industry.
This is a bold declaration to be sure, but imagine the possibilities of
successfully developing an electricity-generating window capable of
paying for itself in a single year.
Our Highest Priority: Bringing SolarWindow™ Products to Market
Mindful of managing our development and operating costs to meet our
commercialization objectives, our recently completed $4.3 million
financing will largely fund our expanded Cooperative Research and
Development Agreement (CRADA) with the U.S. Department of Energy’s
National Renewable Energy Laboratory.
We commemorated the signing of our expanded CRADA with a video that
shows behind the scenes footage of state-of-the-art manufacturing and
testing equipment used to engineer SolarWindow™: http://solarwindow.com/2016/03/solarwindow-in-the-lab/.
Our CRADA focuses on the commercialization of SolarWindow™ products and
includes the following initiatives:
Build large scale SolarWindow™ units in preparation for manufacturing
and eventual sale to customers
Develop a SolarWindow™ product to retrofit the more than 5 million
commercial buildings in the U.S. alone
Advance our proprietary interconnection system for easy connection of
SolarWindow™ into building electrical systems
We’re also working towards formalizing strategic relationships with the
glass, energy and chemical industries.
From Concept to Reality
Given that sunlight striking the Earth’s surface in just one hour
delivers enough energy to power the World for an entire year, the
prospect of SolarWindow™ products generating electricity on skyscrapers
could be one of the greatest inventions of this century.
Again, a bold statement, but that’s exactly what we are attempting to
do. What started out as a concept in 2009 now generates electricity on
glass and even flexible plastics.
SolarWindow™ produces 50 times greater electrical energy than rooftop
panels, has an independently validated one-year financial payback and
can harness energy from shaded, low, and indoor light, when modeled for
a 50-story building.
Our transparent window coating technology is so revolutionary that it
has been presented before members of the U.S. Congress and received
noteworthy recognition in many well-known publications worldwide.
Buildings as Vertical Power Generators
SolarWindow™ may be one of the most disruptive renewable energy
innovations. Our SolarWindow™, when installed on the many acres of glass
typically found on tall towers, has the potential to turn entire
buildings into vertical power generators, reducing electricity costs by
up to 50% per year.
It’s no wonder CNBC says that SolarWindow™, “…could give our
cities the ability to harvest their own energy needs.”
It’s also why one industry expert says that an “electricity-generating
glass which remains see-through marks the $72 billion architectural
glass industry’s single greatest breakthrough in a half century.”
Recently, Voice of America, which reaches 187 million people each
week, reported that the U.S. has over 5.6 million commercial buildings
with more than 86 billion square feet of windows.
If only a fraction of the glass on these buildings could collect power
from the sun using our SolarWindow™, it would substantially lower the
need for fossil fuel-based electricity generation, hence my personal
excitement and commitment to developing our technology.
Our mission is to bring SolarWindow™ to market as quickly as possible.
With the steadfast support of our shareholders we will have our ‘Kitty
About SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. is a developer of next generation,
transparent electricity-generating SolarWindow™ coatings.
SolarWindow™ coatings generate electricity on see-through glass and
flexible plastics with colored tints popular to skyscraper glass. Unlike
conventional systems, SolarWindow™ can be applied to all four sides of
tall towers, generating electricity using natural and artificial light
conditions and even shaded areas. SolarWindow™ uses organic materials,
which are dissolved into liquid, ideal for low-cost high-output
manufacturing; and is the subject of a patent pending technology.
The company’s Proprietary Power Production & Financial Model (Power &
Financial Model) uses photovoltaic (PV) modeling calculations that are
consistent with renewable energy practitioner standards for assessing,
evaluating and estimating renewable energy for a PV project. The Power &
Financial Model estimator takes into consideration building geographic
location, solar radiation for flat-plate collectors (SolarWindow™
irradiance is derated to account for 360 degree building orientation and
vertical installation), climate zone energy use and generalized
skyscraper building characteristics when estimating PV power and energy
production, and carbon dioxide equivalents. Actual power, energy
production and carbon dioxide equivalents modeled may vary based upon
building-to-building situational characteristics and varying
For additional information, please call Ms. Briana L. Erickson toll free
at 1-800-213-0689 or visit: www.solarwindow.com.
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For answers to frequently asked questions, please visit our FAQs page: http://solarwindow.com/investors/faqs/
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Investors and others should note that we announce material financial
information to our investors using SEC filings and press releases. We
use our website and social media to communicate with our subscribers,
shareholders and the public about the company’s, SolarWindowTM technology
development, and other corporate matters that are in the public domain.
At this time, the company will not post information on social media that
could be deemed to be material information unless that information was
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investors, the media, and others interested in the company to review the
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* This list may be updated from time to time.
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of
an offer for the purchase or sale of any securities. This release
contains forward-looking statements that are based upon current
expectations or beliefs, as well as a number of assumptions about future
events. Although SolarWindow Technologies, Inc. (the “company” or
“SolarWindow Technologies”) believes that the expectations reflected in
the forward-looking statements and the assumptions upon which they are
based are reasonable, it can give no assurance that such expectations
and assumptions will prove to have been correct. Forward-looking
statements, which involve assumptions and describe our future plans,
strategies, and expectations, are generally identifiable by use of the
words “may,” “will,” “should,” “could,” “expect,” “anticipate,”
“estimate,” “believe,” “intend,” or “project” or the negative of these
words or other variations on these words or comparable terminology. The
reader is cautioned not to put undue reliance on these forward-looking
statements, as these statements are subject to numerous factors and
uncertainties, including but not limited to adverse economic conditions,
intense competition, lack of meaningful research results, entry of new
competitors and products, adverse federal, state and local government
regulation, inadequate capital, unexpected costs and operating deficits,
increases in general and administrative costs, termination of contracts
or agreements, technological obsolescence of the company’s products,
technical problems with the company’s research and products, price
increases for supplies and components, litigation and administrative
proceedings involving the company, the possible acquisition of new
businesses or technologies that result in operating losses or that do
not perform as anticipated, unanticipated losses, the possible
fluctuation and volatility of the company’s operating results, financial
condition and stock price, losses incurred in litigating and settling
cases, dilution in the company’s ownership of its business, adverse
publicity and news coverage, inability to carry out research,
development and commercialization plans, loss or retirement of key
executives and research scientists, changes in interest rates,
inflationary factors, and other specific risks. There can be no
assurance that further research and development will validate and
support the results of our preliminary research and studies. Further,
there can be no assurance that the necessary regulatory approvals will
be obtained or that SolarWindow Technologies, Inc. will be able to
develop commercially viable products on the basis of its technologies.
In addition, other factors that could cause actual results to differ
materially are discussed in the company’s most recent Form 10-Q and Form
10-K filings with the Securities and Exchange Commission. These reports
and filings may be inspected and copied at the Public Reference Room
maintained by the U.S. Securities & Exchange Commission at 100 F Street,
N.E., Washington, D.C. 20549. You can obtain information about operation
of the Public Reference Room by calling the U.S. Securities & Exchange
Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission
also maintains an Internet site that contains reports, proxy and
information statements, and other information regarding issuers that
file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov.
The company undertakes no obligation to publicly release the results of
any revisions to these forward looking statements that may be made to
reflect the events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.