SolarWindow Technologies, Inc., developer of transparent coatings that turn ordinary glass into electricity-generating windows, today announced the completion of a $25 million equity financing. Kalen Capital Corporation (KCC), the family office of Mr. Harmel S. Rayat, founder and Chairman of the company, has invested approximately $24.9 million in this round.
“This capital infusion marks a historical inflection point for SolarWindow and our nearly 15,000 shareholders. With this capital in hand and a decade of research and development behind us, we can now purchase equipment and hire personnel required for manufacturing of electricity-generating glass, a brand-new form of electrification,” stated Mr. John Conklin, President and CEO of SolarWindow Technologies.
Mr. Rayat originally conceived the idea of transparent electricity-generating glass to harness the endless amounts of solar energy streaming through millions of building windows daily. A decade later, SolarWindow™ is the subject of more than 90 U.S. and international patents and trademarks, numerous record-setting breakthroughs, and independent, third-party validation. His investment today will drive Mr. Rayat’s early vision forward to a commercial product.