The $20B Residential Window Market Just Got Cleaner

Glass Dyenamics Enters $20 Billion Residential Window Market, The Industry’s First Dynamic Glass Product Offering

With an accessible and revolutionary consumer user experience, dynamic glass makes it possible for everyone to be part of the global net zero story

Tucson, Ariz.Glass Dyenamics, the world’s leading dynamic glass developer, today announced the commercialization of its breakthrough, patented, dynamic glass technology for the residential front entryway market, making the company the first and only electrochromic manufacturer to prioritize sales to the residential market. This reality is the result of fundamental advanced materials breakthroughs which open up a new and vast opportunity for climate impact.

The company’s first product offerings, available for order on its website, include Craftsman-style front door and other custom front entryway products based on customer requests. Custom products include those in varied sizes or those with custom external reflected and internal transmitted colors which represents a dynamic glass industry first. All products come with a warranty similar to that of other popular entryway building products.

The advent of the residential cleantech movement has largely been symbolized by the emergence of rooftop solar, which has resulted in the creation of several massive and highly valuable companies — Sunrun ($9B), Sunpower ($4B), etc. Yet despite these companies’ customer utility-bill-savings value proposition, consumer adoption of rooftop solar has been incredibly slow, with less than one percent penetration outside of California and Hawaii. Fundamental homeowner economic hurdles impede rooftop solar mass adoption including the exorbitant upfront costs, the long payback period, and customer risk exposure to utility rate changes.

Glass Dyenamics solves these problems through offering homeowners, in addition to a window system, the same customer value proposition as rooftop solar with significantly more measurable value, at a fraction of the upfront cost, and with higher subjective value. Glass Dyenamics creates glass panels that tint and untint upon application of an electric charge that homeowners can remotely control through a mobile app or wall switch. Its glass offers consumers a fundamentally new and advanced user experience with light and daytime privacy control, all while being the industry’s most energy efficient product.

While dynamic glass isn’t a brand new concept, Glass Dyenamics’ commercial vision and technical approach are unique. The company’s CEO and co-founder, Christopher Angelo, is a Wall St. veteran and former solar manufacturing executive. The Company’s technical co-founders, Anoop Agrawal and John Cronin, are named co-inventors on over 36 automobile auto dimming mirror inventions and original contributors to the industry’s leading durability standard ASTM E-2141. Co-founder and Chairwoman, Maha Achour, is a Forbes 50 Vision List member.

Regarding durability, Glass Dyenamics’ glass has achieved over 50,000 cycles under ASTM E-2141 durability conditions, which elevates the Company to one of four electrochromic companies in the world to have achieved this milestone.

“Glass Dyenamics’ mission is for everyone to be a part of the clean energy story. We deliver on the promise through fundamental technical breakthroughs and a relentless focus on unit level economics. Most customers and investors don’t realize that electrochromic technology can be affordable and highly profitable; they’ve literally been looking at this reality in the mirror for the last 30 years,” said Angelo. “We seek to provide customers with a durable product as well as a Tesla-like ‘X-factor’ user experience by offering tintable glass to the residential home market for the first time. The way we see it, there’s no other home energy efficiency or cleantech 2.0 product that can elicit that kind of emotion. The closest product we can think of is an EV which, like a window, is a consumer ‘need to have.’ We thank our strategic partners, including the US Department of Energy, for reaching this milestone.”

Glass Dyenamics’ patent portfolio includes 24 patents covering its device structure and materials, product recycling, and key product attributes and applications.

Customers can order or reserve glass by submitting their door design specification to Glass Dyenamics. The company currently offers installation services in the San Francisco Bay Area; Bend, OR, and Tucson, AZ. For more information, visit dyenamics.com.

About Glass Dyenamics

Glass Dyenamics is developing and commercializing breakthrough dynamic glass technology with a mission for everyone to be part of the global net zero story. The Company’s dynamic glass combines the superior production-cost and color-control benefits of organic devices, with the durability, smart-building connectivity, comfort, and energy savings benefits of inorganic devices. For more information, visit dyenamics.com.


Scaling Cleantech 2.0 Technologies

Author: Christopher Angelo

Introduction

I recently wrote a book on technology project finance. It’s a subject that is critical to Cleantech 2.0’s success and has never been previously written about. While project finance is a well understood financing mechanism – in particular the financing of power generation assets, technology project finance related to first to early commercial process technologies is less understood. The post here is a first installment of a multi-part series related to technology project finance.

Cleantech 1.0: Valley of Death Survivors

Cleantech 1.0 from 2005 to 2015 had numerous examples of process technology companies that capitulated in the valley of death. A Greentech Media article including a list of deceased solar companies is here. The companies that did make it through had largely transitioned from manufacturing business models to those including installation and asset ownership. They all ‘owned’ the downstream customer. These companies’ business plans were also not dependent on temporary dislocations in raw material inputs commodity markets. The surviving companies included success stories such as Sunrun, Sunpower, Vivint Solar, Solar City (now Tesla), First Solar, Bloom Energy, and of course Tesla.

Cleantech 1.0: Survivor Common Traits

These companies all have a common characteristic which is not well known. They all utilized the debt capital markets in the form of securitization or project finance to scale their businesses operations.

Cleantech 2.0: Capital Efficiency Required

The reality is that Cleantech 2.0 companies including those in carbon capture, hydrogen, sustainable aviation fuels, etc. are more capital intensive than Cleantech 1.0 companies. This is especially true as equity funding from mega funds is limited as there are only so many sovereign wealth funds and private equity fund investment periods are too short relative to Cleantech 2.0 technology payback periods. Technologists and related developers will therefore need to consider alternative financing markets as well as opportunities to achieve greater capital efficiency to scale to profitability. This will take even greater amounts of debt capital than those typically provided in Cleantech 1.0.

Cleantech 2.0: Requirements to Achieve Capital Efficiency

But, what distinguishes a technology among others in the eyes of lenders whose capital is required to scale these technologies? Most of these companies will not be able to scale because they won’t be able to attract a credit worthy customer, otherwise known as an offtaker, to be able to attract the capital necessary to achieve economies of scale required to achieve profitability. And, there are only so many creditworthy / investment grade customers and they are greatly outnumbered by the universe of startups.

In the absence of a creditworthy offtake partner, how else can a company distinguish itself in the eyes of a lender?

Because lenders and investors see numerous technology transaction opportunities within individual industry verticals, the ability to demonstrate the comparative advantage and merits relative to the next best competing technology can make or break a lender or investor’s interest to work with a particular financing opportunity. Therefore, technology developers must demonstrate that their technology is both comparably (i) lower in capital intensity (i.e. $ invested/capacity output) and (ii) that their operating costs are on the low side of the industry production cost curve.

This is particularly true for assets which produce commodities. As, all else equal, technologies which are on the low side of the industry production cost curve will be able to withstand product commodity price volatility relative to alternative technologies. Additionally, all else equal, technologies which are lower in capital intensity will have a dominant internal rate of return (IRR) relative to alternative technologies. Thus, technologies with lower capital intensities will have the ability to pay a loan back faster or have a superior cashflow and loan repayment profile.

Consider these factors as you scale or invest in a Cleantech 2.0 technology.