Developer of transparent solar electricity generating coatings SolarWindow Technologies Inc. (WNDW:OTC) today announced that "for the first time ever, the company has successfully produced its electricity-generating flexible glass using roll-to-roll processing, a high-speed method typical to commercial manufacturing of tinted window films, digital displays, printed electronics and semiconductors."
The firm indicated that the flexible sheets of SolarWindow™ electricity-generating glass are as thin as a business card. These sheets have the capability to generate power from both sunlight and indoor artificial light and are now being developed to electrify windows along with otherwise passive surfaces that can be incorporated into commercial buildings, vehicles, marine watercraft, aerospace and other products.
SolarWindow Technologies' Chairman and CEO Jay S. Bhogal commented, "The world's leading manufacturers use roll-to-roll production, an innovative process successfully demonstrated by the SolarWindow team today. Importantly, this roll-to-roll processing marks a significant advancement in our mission to enable commercial manufacturing in the U.S. and Asia."
The company stated that this news comes at an opportune time as it has recently made several strategic hires and is expanding its operations to Asia by establishing a new office in Seoul, South Korea. The firm advised that the move to open the office in Seoul is driven by the need to gain access to the region's many advanced-technology manufacturers of next-generation building materials, commercial transportation systems, electric vehicles and electronics. The company believes that all of these areas offer great potential and are a natural fit for its proprietary LiquidElectricity™ coatings for films, glass, and plastics utilizing employing high speed roll-to-roll processing.
SolarWindow stated that this manufacturing breakthrough was achieved when multiple layers of its LiquidElectricity™ coatings were applied to ultra-thin flexible glass. The layers then underwent a manufacturing process using precision lasers and a roll-to-roll system. The company noted that the controls improve the power and performance of its SolarWindow™ electricity-generating glass and also increase efficiency, lower costs and reduce material waste.
SolarWindow Technologies described itself as "a developer of transparent LiquidElectricity™ coatings that generate electricity when deposited onto glass or plastic." The company explained that its coatings generate electricity, producing power under natural, artificial, low, shaded and reflected light conditions and are designed and engineered to be applied to ordinary glass on balcony railings and facades, curtain walls, skylights and other surfaces and can additionally be deployed in autos, trucks, ships and aircraft.
SolarWindow began the day with a market capitalization of around $243.6 million with approximately 53 million shares outstanding. WNDW shares opened nearly 9% higher today at $5.00 (+$0.40, +8.70%) over Friday's $4.60 closing price and reached a new 52-week high this morning of $6.60. The stock has traded today between $4.75 and $6.60 per share and is currently trading at $6.17 (+$1.57, +34.13%).
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