Saxon Capital Group Acquires Worldwide Exclusive Rights To Produce and Sell EnergyGlass™ Architectural Glass Products, A Patented, Electric Producing, Clear Architectural Solar Glass Technology that Creates Electricity From Solar, Diffused and Ambient Light

Rhea-AI Summary

Saxon Capital Group has acquired exclusive worldwide rights to manufacture and sell EnergyGlass™ products from Saf-Glas, LLC. This patented glass technology generates electricity from sunlight, potentially transforming buildings into vertical solar farms. The acquisition includes a commitment to purchase patented technology upon raising $10 million. The current solar investment tax credit offers a 30% reduction on installation costs, which could enhance market adoption. Saxon plans to rename itself Energy Glass Solar.

Positive

• Acquisition of EnergyGlass™ offers market expansion opportunities in the $288 billion architectural flat glass market by 2025.
• The patented technology has a successful track record, demonstrated by an 8-year pilot program at the Willis Tower in Chicago.

Negative

• Saxon forgave $535,000 in indebtedness as part of the acquisition.
• The obligation to purchase patented technology upon raising $10 million could strain financial resources.

EnergyGlass™ qualifies for the new solar investment tax credit, reducing the total cost of most glass installations by 30%, based on current law (this credit decreases to 26% in 2033, and then to 22% in 2034, expiring in 2035 unless extended). The company's prime focus will initially be geared towards the Architectural Flat Glass Market which was $273.43 Billion in 2021 and estimated (Note 1) to be $288 Billion by 2025.

SCOTTSDALE, Ariz., Sept. 7, 2022 /PRNewswire/ -- Saxon Capital Group Inc., (SCGX-OTC), and Saf-Glas, LLC, Riviera Beach, Florida announced the companies have signed an agreement whereby Saxon Capital Group acquired exclusive worldwide rights to manufacture and sell EnergyGlass™ Architectural Glass products, which can be used for buildings, greenhouses, homes, etc. The agreement for worldwide exclusivity gives SAF-Glas LLC's management controlling interest of Saxon Capital. In addition, Saxon acquired certain specialized "nanotech" equipment which is used in the manufacture of EnergyGlass products. 

Saxon plans to change the corporate name to Energy Glass Solar, subject to shareholder and FINRA clearance. In consideration for the exclusive worldwide license and transfer of specialized equipment, Saxon forgave $535,000 in indebtedness owing to it by Saf-Glas and issued Saf-Glas 30 million shares of Saxon, a controlling interest.  A new management group and Board of Directors will be announced shortly. As part of the agreement, Saxon is obligated to purchase the EnergyGlass™ Architectural Glass Products patented technology upon the additional raise of $10 million, at which time Saf-Glas will be issued additional shares of Saxon such that it will own 80% of the issued and outstanding shares of Saxon, after giving effect to the foregoing transactions.

EnergyGlass™is an alternative energy, patented, optically clear electric producing glass technology that produces continuous energy from sunlight and diffused and ambient light. EnergyGlass™ is not an added cost to a building project as are other alternative renewables, based on current pricing  and after giving effect 30% Federal Investment Tax Credit. EnergyGlass™ can be used with glass, polycarbonate, and most plastics. After application of the current 30% Federal Investment Tax Credit , EnergyGlass™ is a less expensive alternative for standard plate glass, saving the builder initial costs and on-going energy costs. EnergyGlass™ may be price competitive with standard laminated glass that does not produce passive electricity. 

TRANSFORMING HIGH RISE BUILDINGS INTO VERTICAL SOLAR FARMS

The benefit of large-scale installation of EnergyGlass™ products is that it has the potential of transforming mid and high rise buildings and greenhouses into vertical solar farms. EnergyGlass products can also be used in residential homes & both commercial and non-commercial vehicles. The installation of EnergyGlass™ is exceedingly field friendly and is similar in nature to installation of normal laminated glass. EnergyGlass™ can incorporate many types of different glass and makeups inclusive of tints, Low E, insulated, SAFGLAS IR film, reflective, glass ceramic and most other types and makeups. Visit www.EnergyGlassSolar.com for more information.

PROVEN TECHNOLOGY

EnergyGlass™ underwent an 8 year, successful Pilot Test Program in the Willis (Sears) Tower, Chicago, America's second tallest building. During that time the EnergyGlass™ installation withstood brutal Chicago winters and Midwestern spring and summer weather extremes with NO FAILURES. EnergyGlass™ also completed an installation in the Department of Transportation, Taipei in 2011. The glass has performed successfully with just normal glass maintenance, with no technical issues or degradation of electrical generating capabilities. 

MANFACTURING AGREEMENT

As part of the Agreement, Saxon has signed an additional contract with Saf-Glas whereby Saf-Glas will manufacture the EnergyGlass™ products for Saxon until such time as Saxon is able to fund the acquisition of the intellectual property related to the EnergyGlass Architectural Products . 

ABOUT SAF-GLAS

The Saf-Glas product line began manufacturing in 1996, and in cooperation with its laboratory, Saf-Glas has been at the forefront of innovation regarding proprietary glass, interlayer and other products for over 25 years. Patented EnergyGlass™ products has been laboratory, 3^rd party, and field tested successfully for over 12 years. Saf-Glas also produces natural and man-made disaster resistant glass, including blast resistant, bullet resistant, hurricane resistant and earthquake resistant glass that has been sold to Government and the private sector throughout the world.

Builders, architects, contractors, for information or a quote on your current or future project contact Info@EnergyGlassSolar.com

Forward-Looking Statements:
Various statements in this release, including those that express a belief, expectation, or intention, may be considered "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects or transactions. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words "will," "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.

Note 1: Granview Research

FOR INFORMATION CONTACT:

EMAIL: info@energyglasssolar.com 
VISIT:  www.EnergyGlassSolar.com

 

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SOURCE Saxon Capital Group

FAQ

What did Saxon Capital Group acquire from Saf-Glas, LLC on September 7, 2022?

Saxon acquired exclusive worldwide rights to manufacture and sell EnergyGlass™ products.

How does EnergyGlass™ technology work?

EnergyGlass™ is a patented glass technology that generates electricity from sunlight.

What is the market potential for EnergyGlass™ by 2025?

The architectural flat glass market is estimated to reach $288 billion.

What financial obligations did Saxon incur as part of the acquisition?

Saxon forgave $535,000 in debt and must raise $10 million to purchase the patented technology.

What tax benefits are associated with installing EnergyGlass™?

The installation qualifies for a 30% federal investment tax credit.