03.16.18
SolarWindow Technologies, Inc. announced the appointment of Mr. Harmel S. Rayat, company founder and longtime majority stockholder, as chairman of its Board of Directors. Rayat’s appointment follows a series of SolarWindow announcements regarding the company’s push to commercial production.
Last week, SolarWindow announced a record-setting 34% power performance increase for its transparent electricity-generating glass. Just prior, a collaboration was announced with one of the world’s leading suppliers of organic photovoltaic materials, Taiwan-based Raynergy Tek, in pursuit of high-volume production and enhanced transparency of SolarWindow products for tall towers and skyscrapers.
SolarWindow also disclosed that it entered into a Process Integration and Production Agreement with suburban Los Angeles-based Triview Glass Industries, LLC. Initially working to establish manufacturing processes and a production line through this agreement, SolarWindow and Triview plan to fabricate specific SolarWindow electricity-generating glass products at commercial scale.
Rayat is the company’s majority stockholder, having invested more than $11 million in recent years. He founded SolarWindow and conceived the idea of commercially applying invisible particles onto glass in order to create the world’s first transparent electricity-generating windows.
Starting with a personal investment of $20 million in 2006, Mr. Rayat has since built a commercial real estate portfolio valued at $185 million, using modest leverage. His portfolio has generated annualized return on equity of 42% per year for the 12 years ending December 31, 2017, compared to 11% for the Dow and 17% for NASDAQ.
“Mr. Rayat has repeatedly provided SolarWindow with much-needed financial backing. His support is testament to his unwavering faith in our management team and all we are doing to bring his first-ever idea to commercial production,” said John Conklin, president and CEO of SolarWindow Technologies, Inc.
Last week, SolarWindow announced a record-setting 34% power performance increase for its transparent electricity-generating glass. Just prior, a collaboration was announced with one of the world’s leading suppliers of organic photovoltaic materials, Taiwan-based Raynergy Tek, in pursuit of high-volume production and enhanced transparency of SolarWindow products for tall towers and skyscrapers.
SolarWindow also disclosed that it entered into a Process Integration and Production Agreement with suburban Los Angeles-based Triview Glass Industries, LLC. Initially working to establish manufacturing processes and a production line through this agreement, SolarWindow and Triview plan to fabricate specific SolarWindow electricity-generating glass products at commercial scale.
Rayat is the company’s majority stockholder, having invested more than $11 million in recent years. He founded SolarWindow and conceived the idea of commercially applying invisible particles onto glass in order to create the world’s first transparent electricity-generating windows.
Starting with a personal investment of $20 million in 2006, Mr. Rayat has since built a commercial real estate portfolio valued at $185 million, using modest leverage. His portfolio has generated annualized return on equity of 42% per year for the 12 years ending December 31, 2017, compared to 11% for the Dow and 17% for NASDAQ.
“Mr. Rayat has repeatedly provided SolarWindow with much-needed financial backing. His support is testament to his unwavering faith in our management team and all we are doing to bring his first-ever idea to commercial production,” said John Conklin, president and CEO of SolarWindow Technologies, Inc.