Crown Electrokinetics signs first commercial agreement with MetroSpaces, a real estate holding company focused on Proptech technology
LOS ANGELES, September 28, 2021 / PRNewswire / – Crown Electrokinetics Corp. (NASDAQ: RCDR) (“Crown” or the “Company”), a leading company in smart glass technology, has signed its first commercial client, MetroSpaces Inc. (OTC: MSPC) (“MetroSpaces”), a proptech company combining world-class real estate development with cutting-edge technology. Crown to install smart window inserts in MetroSpaces’ 70,000 square feet Houston, texas office building.
“Anytime you bring new technology to market, like Crown does in smart glass, you have to work with innovators in the space first, and that’s why we made this deal. MetroSpaces is one. innovator working on our vision of how commercial buildings operate, both in terms of tenant comfort and reducing carbon emissions, ”said Doug Croxall, President and CEO of Crown. “Reaching this milestone with MetroSpaces paves the way for our most important potential customers to follow this path. We look forward to a successful first installation and long term customer relationship for deployment in other MetroSpaces buildings. “
Crown’s smart window inserts aim to improve the efficiency of existing windows, eliminating the need to replace glass by easily fitting into window frames. It also acts as an additional window, further insulating the building from outside temperatures. And, powered by solar energy, the Smart Window Insert will ultimately be able to operate without wiring in the building. The first results of field tests suggest that the inserts can reduce the energy costs of office buildings by around 26%. Crown plans to begin installing smart window inserts in the first quarter of 2022.
“MetroSpaces is delighted to be working with Crown Electrokinetics and to be among the first commercial building owners to receive its smart window inserts powered by DynamicTint.™,” noted Oscar Brito, CEO of MetroSpaces. “With a focus on proptech, we have looked at almost every smart glass solution on the market and chose to work with Crown because of their very unique approach of integrating smart glass technology into an insert. window. In our first building, this should help MetroSpaces reduce its energy consumption with an attractive payback period. This is the kind of high-end connected services that we will seek to install in all of our buildings. “
About Crown Electrokinetics
Crown is a smart glass technology company and the creator of DynamicTint – We Make Your Glass Smarter ™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to go from clear to dark in seconds. With applications to a wide variety of windows, including commercial buildings, automotive sunroofs and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the heart of our technology is an electrically charged pigment-powered thin film that not only replaces common window tints, but is also a more durable alternative to traditional window treatments. With its unique ability to be matched to existing glass, DynamicTint ™ offers a myriad of benefits related to reduced carbon emissions. The company relies on a solid portfolio of patents. For more information, please visit WWW.CROWNEK.COM.
This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements and terms such as “anticipate”, “expect”, “intend”, “may”, “will”, “should” or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. These statements include statements regarding the current intention, belief or expectations of Crown Electrokinetics and members of its management, as well as the assumptions upon which such statements are based. Prospective investors are cautioned that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Crown Electrokinetics’ periodic reports filed with the SEC, and that actual results may differ materially. those contemplated by these forward-looking statements. forward-looking statements. Except as required by federal securities law, Crown Electrokinetics assumes no obligation to update or revise any forward-looking statements to reflect changed terms.
SOURCE Electrokinetic Crown