Los Angeles, California, June 09, 2022 (GLOBE NEWSWIRE) — Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company, has released the highlights of the presentation given by Doug Croxall, Chairman & CEO of Crown, at the 2022 LD Micro Invitational Conference, on June, 8, 2022.
Mr. Croxall shared the Company’s Smart Window Insert™ product development status and its leading key differentiators. Using their patented DynamicTint™ technology, the Smart Window Insert has less expensive bill of materials, extremely low power consumption, faster tinting speed, and retrofit optionality.
Crown’s initial target market is US office buildings. Crown’s Smart Window Insert™ can lower the HVAC energy costs for building owners and help lower the building’s carbon footprint. The Smart Window Insert™ will be sold as a retrofit product to existing buildings.
Recently Crown entered into a Non-Binding Exclusive Term Sheet for debt capital. The use of proceeds will be to build two new roll-to-roll lines and working capital to fund the Company throughout calendar year 2023. The two new roll-to-roll lines, when running at capacity, should produce Smart Window Insert™ revenue of approximately $220 million – $240 million yearly, with EBITDA of $40 million.
The presentation is available in the Crown Electrokinetics website. A copy can be viewed by clicking the following link Crown Electrokinetics CEO Presentation 2022 LD Micro Invitational.
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 transition between clear and dark in seconds. At the core of our 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. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio.
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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