SolarWindow Technologies, Inc., developer of transparent coatings that turn ordinary glass into electricity-generating windows, 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, SolarWindowâ„¢ 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.

"My financial investment and confidence in SolarWindow is stronger than ever. I believe that we're in the right place at the right time, and am proud to support the launch of one of the most exciting technology start-ups in recent memory," stated Mr. Rayat.

"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."

When clad with electricity-generating windows, tall towers and skyscrapers could become clean power generators. A single SolarWindowâ„¢ installation on a 50-story building, for example, could reduce electricity costs by as much as 50% per year, avoid more than two million miles of equivalent carbon dioxide emitted by vehicles on the road, and achieve a one-year financial payback, according to independently-validated engineering modeling.

Almost 40% of electricity in the U.S. is generated by fossil fuels. Reducing the burning of these fuels could help mitigate their impact on climate change, which a recent report mandated by U.S. Congress says is "an immediate threat, not a far-off possibility."

The $25 million equity financing announced today consisted of (i) $19.8 million cash component, of which KCC accounted for approximately $19.7 million, and (ii) an additional $5.2 million debt conversion component reflecting the conversion by KCC of $3.6 million principal amount of outstanding loan indebtedness and $1.6 million of accrued and unpaid interest thereon into equity of the company.

A description of the terms of the financing are included in the company's current report on Form 8-K, which is expected to be filed on or before November 30, 2018.

SolarWindow | www.solarwindow.com