Leading technology and media REIT invests in Oregonian startup with a unique approach to smart glass, called DynamicTint™
CORVALLIS, Ore., June 11, 2020 /PRNewswire/ -- Crown Electrokinetics (OTCQB: CRKN), a Corvallis-based startup with a novel approach to the growing smart glass industry, today announced Hudson Pacific Properties has invested in the company. Born from intellectual property developed at Hewlett Packard (HP, Inc.), Crown Electrokinetics has pioneered a technology called DynamicTint™, which enables glass to quickly transition between clear and dark.
The technology allows office workers the ability to change their windows from nearly pitch black to clear with the flip of a switch. There are no window shades or blinds necessary, just glass. Over the course of the year, the same window technology keeps occupants warmer in the winter and cooler in the summer, all while lowering energy costs and consumption. As part of its investment, Hudson Pacific will implement the DynamicTint™ technology at select properties across its West Coast portfolio.
As part of the internet of things (IoT) transformation, many analog devices are being infused with technology, and the glass industry has been no different. A barrage of "smart glass" companies have emerged in recent years, not only offering the benefit of controlling natural light exposure but also lowering energy costs, making buildings more sustainable, and even improving workplace productivity. However, many of those smart glass technologies have required building owners to replace their existing glass altogether, which can be extremely costly.
This is a major differentiating factor for DynamicTint™. While it can be woven into the glass manufacturing process and installed on newly constructed buildings, DynamicTint™ can also be applied to existing glass, known as retrofitting. With this capability, building owners do not need to endure the substantial replacement costs in order to enjoy its benefits. Furthermore, DynamicTint™ requires very little energy to operate and can even save energy related to the heating and cooling of an office building.
Crown Electrokinetics CEO, Doug Croxall, said, "It's truly an honor to partner with Hudson Pacific, one of the country's leading real estate investment trusts and a company that looks to innovate at every turn. Our formal working relationship has just commenced, and they've already created myriad opportunities for Crown Electrokinetics, especially in the commercial sector."
With the global market estimated to reach $10B by 2025, the demand for smart glass continues to grow, particularly in architecture, transportation, and consumer electronics. Not surprisingly, over a billion dollars has already been invested into a variety of technological approaches, including electrochromic (EC), suspended particle devices (SPD), and polymer dispersed liquid crystal (PDLC). However, one of the biggest challenges has been satiating market demand with technical proficiency at a viable cost structure.
About Crown Electrokinetics
Crown Electrokinetics (OTCQB: CRKN) a global leader in DynamicTint - We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. DynamicTint™allows windows to transition from transparent to black. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, Crown partners with leading glass and film manufacturers, licensing its intellectual property for mass production. At the core of Crown's technology is a thin film that is powered by electrically-charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. The company is supported by a robust patent portfolio.
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SOURCE Crown Electrokinetics