SolarWindow President & CEO John A. Conklin presents the SolarWindow model IGU. The company is thinking big, seeing potential for deploying its electricity-generating window technology for some 5.6 million commercial buildings in the United States that it claims will bring down their annual energy costs by 50%. (Photo Credit: SolarWindow Technologies, Inc.)

Transparent electricity-generating liquid coatings maker SolarWindow Technologies, Inc., has raised $25 million in equity financing from Kalen Capital Corporation (KCC) to purchase equipment and increase manpower for manufacturing of ‘electricity-generating glass.’

KCC is the family office of the company’s Founder and Chairman, Harmel S. Rayat. Of the total $25 million, SolarWindow said that $19.8 million is a cash component of which KCC’s share is $19.7 million. Another $5.2 million is a debt conversion component, reflecting the conversion by KCC of a $3.6 million principal amount of an outstanding loan indebtedness and $1.6 million of accrued and unpaid interest into equity of the company.

The company claims its technology, using PV modelling calculations, can convert passive windows into electricity-generating windows for tall towers and skyscrapers producing power under natural, artificial, low, shaded and reflected light conditions. When deployed for around 5.6 million commercial buildings in the United States, SolarWindow says it can help these buildings reduce their energy costs by up to 50% from almost $150 billion they are paying currently on annual basis. The technology, it claims, can also achieve a 1-year financial payback for building owners.

It did not provide technical details about SolarWindow’s solar product in the release or a concrete timeline and sales strategy.

“My financial investment and confidence in SolarWindow is stronger than ever,” said Rayat, adding,“I envision SolarWindow changing the way we power our buildings with clean energy that not only benefits our environment, but also generates greater financial returns. As a commercial real estate investor and building owner, I see huge upside for developers, building owners, and even tenants who can lower their operating costs while increasing property values as green buildings.”