Crown Electrokinetics signs first commercial contract with proptech-focused real estate holding MetroSpaces | news


LOS ANGELES, September 28, 2021 / PRNewswire / – Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leader in smart glass technology, has its first commercial client MetroSpaces Inc. (OTC: MSPC) (“MetroSpaces”), a proptech company that combines world-class real estate development , signed. with the latest technology. Crown will place its Smart Window Inserts in the 70,000 square feet. install large MetroSpaces Houston, Texas Office building.

“Whenever you bring a new technology to market, like Crown is doing with Smart Glass, you have to work with innovators in the world first, and that’s why we made this agreement. MetroSpaces is an innovator working on our shared vision of how commercial buildings should function, both in terms of tenant comfort and reducing carbon emissions, “said Doug Croxall, Chairman and CEO of Crown. “The achievement of this milestone with MetroSpaces paves the way for our larger interested parties to take this path. We look forward to a successful initial installation and a long-term customer relationship for the rollout in further MetroSpaces buildings.”

Crown’s Smart Window Inserts aims to improve the efficiency of existing windows by eliminating the need to replace the glass by simply fitting it into window frames. It also acts as an additional pane of glass and additionally insulates the building from outside temperatures. And with solar energy, Smart Window Insert will ultimately be able to function in the building even without cabling. Initial field test results indicate that the use can reduce the energy costs of office buildings by approx. 26%. Crown expects to begin installing the Smart Window Inserts in the first quarter of 2022.

“MetroSpaces is very excited to partner with Crown Electrokinetics and be among the first commercial building owners to receive their Smart Window Inserts powered by DynamicTintâ„¢,” called Oscar Brito, MetroSpaces CEO. “With our strong focus on proptech, we looked at almost all smart glass solutions on the market and decided to work with Crown because of their completely unique approach to integrating smart glass technology into a window insert. In our first building, this should help MetroSpaces reduce energy consumption with an attractive payback period. These are the kind of high-end connected services that we want 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 â„¢. Originally invented by Hewlett-Packard (HP, Inc.), our technology enables any glass surface to switch between clear and dark in seconds. With applications for a wide range of windows including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. The heart of our technology is a thin film that is operated with electrically charged pigments and not only replaces conventional window tinting, but also represents a more sustainable alternative to conventional window treatments. With its unique ability to retrofit existing glass, DynamicTint â„¢ offers innumerable benefits in terms of reducing carbon emissions. The company is supported by a robust patent portfolio. More information is available at WWW.CROWNEK.COM.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of 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 similar terms involve risks and uncertainties as they relate to events and circumstances that may arise in the future will occur. These statements contain statements about the intentions, beliefs, or current expectations of Crown Electrokinetics and members of its management, and the assumptions on which these statements are based. Potential investors are cautioned that such 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 from those contained therein Forecasts for the future may differ from expected forecasts. Except as required by federal securities law, Crown Electrokinetics assumes no obligation to update or revise any forward-looking statements to reflect changed conditions.

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SOURCE Crown Electrokinetics


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