| | News Release
SolarWindow: Mid-Year 2016
Update
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| Columbia, MD - July 18, 2015
- 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 SolarWindow:
2016 marks our advancement
from scientific research to the commercial development of our SolarWindow™
products. |
|  | Working SolarWindow™ electricity-generating window model
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 economic events.
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.
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
Hawk’ moment.
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| | | | | | | 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
installation methodologies.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.solarwindow.com.
To receive future press releases via email, please visit: http://solarwindow.com/join-our-email-list/.
Follow us on Twitter @solartechwindow,
or follow us on
Facebook.
To view the full HTML text of this release, please visit: http://solarwindow.com/media/news-events/.
Media Contact:
Trendlogic
Dwain Schenck
800-992-6299
dwain@trendlogicpr.com
For answers to frequently asked questions, please visit our FAQs page: http://solarwindow.com/investors/faqs/.
Social Media Disclaimer
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, SolarWindow™ 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
distributed to public distribution channels first. We encourage
investors, the media, and others interested in the company to review the
information we post on the company’s website and the social media
channels listed below:
• Facebook
• Twitter
*This list may be updated from time to time.
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| 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. |
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