SolarWindow and Lippert Enter Into Framework Agreement for Development of Transparent Electricity-Generating Glass Products

Rhea-AI Summary

SolarWindow Technologies and Lippert Components have entered a framework agreement to develop transparent electricity-generating glass products. This collaboration aims to integrate SolarWindow's innovative technology into Lippert's components for recreational vehicles, marine vessels, and specialty buildings.

Lippert, a Fortune 1000 company, manufactures over 23,000 windows daily and consumes 330 million square feet of glass annually. SolarWindow's proprietary coatings can generate electricity from various light conditions. The partnership seeks to address off-grid power demands and enhance environmental stewardship.

While both companies express optimism, they caution that there's no assurance of successfully achieving defined goals, negotiating future agreements, or bringing SolarWindow-Lippert Products to market.

Positive

• Potential for new revenue streams in electricity-generating glass products
• Access to Lippert's extensive manufacturing capabilities and market reach
• Addressing customer demand for off-grid power solutions
• Alignment with environmental stewardship goals

Negative

• No guarantee of successful product development or commercialization
• Potential challenges in supply chain, capital equipment, and product integration
• Uncertainty in future manufacturing, licensing, and distribution agreements

ELKHART, Ind. and SCOTTSDALE, Ariz., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Lippert Components Inc. (Lippert™) and SolarWindow Technologies, Inc. (SolarWindow) have agreed to jointly pursue the integration of SolarWindow technologies into select Lippert components to produce transparent electricity-generating SolarWindow-Lippert Products.

“This collaboration with SolarWindow marks an opportunity to introduce innovations like electricity-generating glass into Lippert’s existing recreational vehicle, marine vessel, and specialty building product markets, while further strengthening our commitment to environmental stewardship, which is at the core of everything we do,” explained Mr. Jason Lippert, President and Chief Executive Officer of Lippert.

“Every day, Lippert manufactures more than 23,000 windows worldwide. Meanwhile, customers across our business have been asking for augmented and true off-grid power. We believe our collaboration with SolarWindow presents the potential for novel energy solutions to meet our customers’ needs through transparent, lightweight, and fully integrated SolarWindow-Lippert Products,” he concluded.

“I look forward to continuing to build on our working relationship with Lippert,” stated Mr. Amit Singh, President and CEO of SolarWindow Technologies, Inc. “Lippert has nearly 70 years of experience in commercializing innovative products globally and is an ideal product collaboration partner for integrating our transparent, ultra-thin SolarWindow coatings to turn otherwise ordinary glass into electricity-generating windows.”

A Fortune 1000 Company, Lippert is one of the largest non-float glass manufacturers in the world with 140 manufacturing and distribution centers across North America, Africa, and Europe. Lippert consumes more than 330 million square feet of glass annually for manufacturing and supplying windows, tempered and laminated glass products, and components for recreational vehicle, transit, specialty vehicle, and other adjacent markets.

SolarWindow is a developer of proprietary transparent, electricity-generating coatings, methods, and other technologies that, when applied to glass and plastic surfaces, are capable of generating electricity by harvesting light energy from natural sunlight, artificial light, and low, shaded, or reflected light conditions.

Mr. Singh continued, “SolarWindow and Lippert enter this next phase of our relationship with confidence as we address and navigate challenges and opportunities related to supply chain, capital equipment, product integration, human resources and training, and negotiation and execution of future manufacturing, licensing, and distribution agreements.”

There is no assurance that any of the mutually defined goals will be attained or that future agreements will be successfully negotiated or consummated and no assurance that SolarWindow-Lippert Products will be successfully engineered, prototyped, tested, certified, manufactured, produced, or sold.

About Lippert™
From over 140 manufacturing and distribution facilities located throughout North America, Africa, and Europe, Lippert™ (NYSE: LCII; www.lippert.com) supplies a broad array of highly engineered components for the leading manufacturers of recreational vehicles, automobiles, watercraft, and prefab homes. It also operates in adjacent markets, including hospitality, transportation, construction, and agriculture. Lippert serves a wide range of aftermarket segments, providing high-quality products for the recreational vehicle / caravanning, automotive, and marine industries. With over 12,500 team members and a diverse portfolio of best-in-class brands, Lippert™ adopts a team-based business philosophy and has proven that, by putting people first, the possibilities for growth, and development are truly endless.

Lippert Contacts

For additional information on SolarWindow, please visit www.lippert.com, email marcom@lci1.com, or mail the following:

Lippert
52567 Independence Ct.
Elkhart, IN 46514

About SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. (OTC: WNDW; www.solarwindow.com) is a developer of transparent LiquidElectricity® coatings and processes which generate electricity on glass and plastics. When applied to otherwise ordinary glass, for example, these coatings generate electricity, producing power under natural, artificial, low, shaded, and reflected light conditions.

SolarWindow targets applications beyond conventional solar panels. The Company’s LiquidElectricity® can generate electricity for architectural applications including building windows, facades, and rooftops. LiquidElectricity® has wide-ranging utility, including automotive, commercial greenhouse, marine, and aerospace applications, and presents superior aesthetics for generating energy to enable faster financial breakeven.

The SolarWindow Promise: Engineer, design, and ultimately manufacture and deliver LiquidElectricity® products which reward customers with affordable clean energy for a healthier, safer, and more sustainable planet. SolarWindow is ClearlyElectric®.

SolarWindow Contacts

For additional information on SolarWindow, please call Amit Singh at 1-800-213-0689, or visit www.solarwindow.com, follow us on X @solartechwindow or on Facebook.

To receive future press releases via email, please visit: http://solarwindow.com/join-our-email-list/.

To view the full HTML text of this release, please visit: http://solarwindow.com/media/news-events/.

Social Media Disclaimer

SolarWindow stockholders, investors and others should note that we announce material information to the public about the Company through a variety of means, including our website (https://www.solarwindow.com/investors), through press releases, SEC filings, public conference calls, via our corporate X account (@solartechwindow), Facebook page (https://www.facebook.com/SolarWindowTechnologies) and LinkedIn page (https://www.linkedin.com/company/solar-window-technology/) in order to achieve broad, non-exclusionary distribution of information to the public and to comply with our disclosure obligations under Regulation FD. We encourage our investors and others to monitor and review the information we make public in these locations as such information could be deemed to be material information. Please note that this list may be updated from time to time.

Forward Looking Statements

This press release contains information about SolarWindow and Lippert that may constitute “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 and other securities laws, These forward-looking statements are based upon current expectations or beliefs, as well as a number of assumptions about future events. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those laws as applicable. Although SolarWindow and Lippert™ believe that the expectations reflected in such forward-looking statements and the assumptions upon which they are based are reasonable as at the time made, no assurance can be given that such expectations and assumptions will prove to have been correct.

Generally, we have identified such forward-looking statements by using such words as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “may,” “plan,” “project,” “should,” “target,” “will,” and similar expressions or by using future dates in connection with any discussion of, among other things, statements expressing general views about future development, manufacture, production, marketing or sale of SolarWindow-Lippert Products, or the execution of manufacturing or licensing agreements between the parties, that we expect or anticipate will occur in the future, anticipated cost savings, potential capital and operational cash improvements and changes in the global economic environment, as well as statements regarding the proposed transaction, including the timing of the completion of the transaction. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements include all statements that are not historical facts, but instead represent only our beliefs regarding future goals, plans and expectations about our prospects for the future and other events, many of which, by their nature, are inherently uncertain and outside of our control. It is possible that the actual results and of our collaboration may differ, possibly materially, from the anticipated results indicated in these forward-looking statements.

Caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made and 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 technical problems relating to manufacturing methodologies, price increases for supplies and components, litigation and other proceedings involving the either party, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, failure to obtain required regulatory approvals, inflationary factors, and other risks. All information in this press release is as of the date set forth above. Neither party undertakes any duty to update any forward-looking statement to conform the statement to actual results or changes in its expectations whether because of new information, future events or otherwise, except as required by law. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a86264d7-f803-4e3a-bef4-4b02a09791b7

FAQ

What is the purpose of the SolarWindow and Lippert framework agreement?

The agreement aims to develop transparent electricity-generating glass products by integrating SolarWindow technologies into select Lippert components for use in recreational vehicles, marine vessels, and specialty building markets.

How many windows does Lippert manufacture daily?

Lippert manufactures more than 23,000 windows worldwide every day.

What markets could benefit from the SolarWindow-Lippert collaboration?

The collaboration targets recreational vehicle, marine vessel, and specialty building product markets with potential for novel energy solutions through transparent, lightweight, and integrated products.

What is unique about SolarWindow's technology?

SolarWindow develops proprietary transparent, electricity-generating coatings that can generate electricity from natural sunlight, artificial light, and low, shaded, or reflected light conditions when applied to glass and plastic surfaces.