SolarWindow Technologies, Inc. (OTCQB: WNDW), today announced
that engineers and research scientists at the University of North
Carolina Charlotte Energy Production and Infrastructure Center
(UNCC-EPIC) have independently reviewed and validated the Company’s
SolarWindow™ proprietary Power Production and Financial Model. This
Model calculates a financial payback of less than one year for the
Company’s transparent electricity-generating SolarWindow™
technology.
Mr. David Causey, PE, Assistant Director
at UNCC-EPIC (Photo: Mr. David Causey and University of North
Carolina Charlotte)
“SolarWindow™ coatings, when installed on tall towers and
skyscrapers, could serve as a much sought-after clean micro-grid
energy solution,” explained Mr. David Causey, PE, Assistant
Director at UNCC-EPIC, The William States Lee College of
Engineering. Mr. Causey has over 30 years of experience in
mechanical system and component design for power generation. His
work as an engineer includes operating nuclear plants; and coal,
natural gas, or renewable energy projects.
Mr. Causey led his UNCC-EPIC team of engineering and science
experts, who independently validated the modeling assumptions,
reference data, and technical basis important to calculating the
Company’s one-year financial payback period for SolarWindow™
systems. UNCC-EPIC validation also confirmed the proficiency of the
Company’s methodology for modeling the performance of competing PV
technologies.
Compared to conventional rooftop solar systems, SolarWindow™
technology installed on a 50-story building could generate up to
50-times greater power while delivering 15-times the environmental
benefits, according to Company engineers. For conventional solar
systems to produce the equivalent amount of power as SolarWindow™
would require at least 10-12 acres of valuable urban land at least
5-11 years for payback.
SolarWindow’s calculated payback of less than one year is the
industry’s fastest published financial return.
“The calculated rapid rate of return for SolarWindow™ systems
offers a strong financial incentive to potential customers seeking
quick payback while substantially meeting their power requirements
with a clean, renewable source of electricity,” explained Mr.
Kenneth Schuckers, CPA, an expert in renewable energy tax
credits.
Mr. Schuckers contributed important energy and corporate tax
know-how to development of the SolarWindow™ Financial Model. Ken
Schuckers has 20-plus years of corporate tax experience with over a
decade focused on R&D and other federal tax credits and
incentives. His credentials include Deloitte & Touche, LLP
(Corporate Tax Services), and Partner at Grant Thornton, LLP
(R&D and Section 199 Practice Leader).
“SolarWindow’s modeling of a rapid one-year payback and today’s
independent validation establish our leadership role in the
renewable energy space,” explained Mr. John A. Conklin, President
and CEO of SolarWindow Technologies, Inc.
“Having released the industry’s most compelling financial
results, we now plan to aggressively push forward with maximizing
durability and ensuring ease of large scale manufacturing. These
are among the most important considerations to architects, building
designers, developers, and potential commercial partners.”
SolarWindow™ transparent window coatings are under development
for the estimated 85 million commercial buildings and detached
homes in the United States.
SolarWindow™ technology has been demonstrated to U.S. Congress
on Capitol Hill and is recipient of the 2013 Energy Innovation
Award, recognized as the most promising global energy project of
the year.
About the University of North Carolina
Charlotte Energy Production and Infrastructure
Center
The Energy Production and Infrastructure Center (EPIC) at UNC
Charlotte was formed in response to the need from industry to
supply highly trained engineers qualified to meet the demands of
the energy industry – through traditional and continuing education,
and provide sustainable support the Carolina energy industry by
increasing capacity and support for applied research. EPIC is a
highly collaborative industry/education partnership that produces a
technical workforce, advancements in technology for the global
energy industry while supporting the Carolinas’ multi-state
economic and energy security. With industry encouragement and
support from the North Carolina General Assembly, EPIC was formed
to meet growing demands for highly trained power and energy
professionals, and create innovative solutions that promote
affordable, sustainable energy supplies. EPIC is charged with
leading workforce, economic, and technology development efforts to
support the Carolinas and the global energy industry.
EPIC works in conjunction with industry sponsors, UNC
Charlotte’s Lee College of Engineering and Belk College of Business
to expand energy engineering in the classroom. Our energy programs
go beyond technical skills and pure engineering. Energy
concentrations include topics such as project management, business
acumen, collaborative teamwork, risk analysis and leadership.
Currently, there are nearly 75 EPIC faculty members collaborating
with students and industry partners.
About SolarWindow Technologies,
Inc.
SolarWindow Technologies, Inc. is a developer of next generation
electricity-generating SolarWindow™ coatings.
SolarWindow™ coatings generate electricity on see-through glass
and flexible plastics with colored tints popular to skyscraper
glass. Unlike conventional systems, SolarWindow™ can be applied to
all four sides of tall towers, generating electricity using natural
and artificial light conditions and even shaded areas. SolarWindow™
uses organic materials, which are dissolved into liquid, ideal for
low-cost high-output manufacturing; and is the subject of a patent
pending technology.
The Company’s Proprietary Power Production & Financial Model
(Power & Financial Model) uses photovoltaic (PV) modeling
calculations that are consistent with renewable energy practitioner
standards for assessing, evaluating and estimating renewable energy
for a PV project. The Power & Financial Model estimator takes
into consideration building geographic location, solar radiation
for flat-plate collectors (SolarWindow™ irradiance is derated to
account for 360 degree building orientation and vertical
installation), climate zone energy use and generalized skyscraper
building characteristics when estimating PV power and energy
production, and carbon dioxide equivalents. Actual power, energy
production and carbon dioxide equivalents modeled may vary based
upon building-to-building situational characteristics and varying
installation methodologies.
For additional information, please call Ms. Briana L. Erickson
toll-free at 1-800-213-0689 or visit:
www.solarwindow.com.
To receive future press releases via email, please visit:
http://solarwindow.com/investors/investor-information/.
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To view the full HTML text of this release, please visit:
http://solarwindow.com/media/news-events/.
For media inquiries, please contact Jerry Schranz at
Solarwindow@antennagroup.com, or visit our Media Relations page for
additional contact information:
http://solarwindow.com/media/media-relations/.
For answers to frequently asked questions, please visit our FAQs
page: http://solarwindow.com/investors/faqs/.
Social Media Disclaimer
Investors and others should note that we announce material
financial information to our investors using SEC filings and press
releases. We use our website and social media to communicate with
our subscribers, shareholders and the public about the Company,
SolarWindow™ technology development, and other corporate matters
that are in the public domain. At this time, the Company will not
post information on social media could be deemed to be material
information unless that information was distributed to public
distribution channels first. We encourage investors, the media, and
others interested in the Company to review the information we post
on the Company’s website and the social media channels listed
below:
• Facebook
• Twitter
*This list may be updated from time to time.
Legal Notice Regarding Forward-Looking
Statements
No statement herein should be considered an offer or a
solicitation of an offer for the purchase or sale of any
securities. This release contains forward-looking statements that
are based upon current expectations or beliefs, as well as a number
of assumptions about future events. Although SolarWindow
Technologies, Inc. (the “Company” or “SolarWindow Technologies”)
believes that the expectations reflected in the forward-looking
statements and the assumptions upon which they are based are
reasonable, it can give no assurance that such expectations and
assumptions will prove to have been correct. Forward-looking
statements, which involve assumptions and describe our future
plans, strategies, and expectations, are generally identifiable by
use of the words “may,” “will,” “should,” “could,” “expect,”
“anticipate,” “estimate,” “believe,” “intend,” or “project” or the
negative of these words or other variations on these words or
comparable terminology. The reader is cautioned not to put undue
reliance on these forward-looking statements, as these statements
are subject to numerous factors and uncertainties, including but
not limited to adverse economic conditions, intense competition,
lack of meaningful research results, entry of new competitors and
products, adverse federal, state and local government regulation,
inadequate capital, unexpected costs and operating deficits,
increases in general and administrative costs, termination of
contracts or agreements, technological obsolescence of the
Company's products, technical problems with the Company's research
and products, price increases for supplies and components,
litigation and administrative proceedings involving the Company,
the possible acquisition of new businesses or technologies that
result in operating losses or that do not perform as anticipated,
unanticipated losses, the possible fluctuation and volatility of
the Company's operating results, financial condition and stock
price, losses incurred in litigating and settling cases, dilution
in the Company's ownership of its business, adverse publicity and
news coverage, inability to carry out research, development and
commercialization plans, loss or retirement of key executives and
research scientists, changes in interest rates, inflationary
factors, and other specific risks. There can be no assurance that
further research and development will validate and support the
results of our preliminary research and studies. Further, there can
be no assurance that the necessary regulatory approvals will be
obtained or that SolarWindow Technologies, Inc. will be able to
develop commercially viable products on the basis of its
technologies. In addition, other factors that could cause actual
results to differ materially are discussed in the Company's most
recent Form 10-Q and Form 10-K filings with the Securities and
Exchange Commission. These reports and filings may be inspected and
copied at the Public Reference Room maintained by the U.S.
Securities & Exchange Commission at 100 F Street, N.E.,
Washington, D.C. 20549. You can obtain information about operation
of the Public Reference Room by calling the U.S. Securities &
Exchange Commission at 1-800-SEC-0330. The U.S. Securities &
Exchange Commission also maintains an Internet site that contains
reports, proxy and information statements, and other information
regarding issuers that file electronically with the U.S. Securities
& Exchange Commission at http://www.sec.gov. The Company
undertakes no obligation to publicly release the results of any
revisions to these forward looking statements that may be made to
reflect the events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150408005124/en/
SolarWindow Technologies, Inc.Ms. Briana L. Erickson,
800-213-0689Briana@SolarWindow.comwww.SolarWindow.com
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