SK invests $100 mln in California-based smart-tinting glass producer

By Lim Chang-won Posted : January 30, 2019, 17:36 Updated : January 30, 2019, 17:36

[Iclickart]


SEOUL -- The holding company of South Korea's SK Group has made a $100 million strategic investment in Kinestral Technologies, a California-based producer of smart-tinting glass for commercial and residential purposes.

SK Holdings said Wednesday that it would spend $7.5 million on buying a 4.66 percent stake in Kinestral and $92.5 million on acquiring convertible bonds that can be converted into voting preferred stock. SK would also have a business right to produce and sell smart glass in China.

Smart glass or switchable glass is a glass or glazing whose light transmission properties are altered when voltage, light or heat is applied. Smart glass creates climate adaptive building shells, with the ability to save costs for heating, air-conditioning and lighting and avoid the cost of installing and maintaining motorized light screens or blinds or curtains.

Smart glass can be applied into the Internet of Things (IoT) industry, SK said, adding it would try to find a business opportunity with smart-tinting glass
 
The global smart glass market is expected to reach USD 8.35 Billion by 2023, according to Markets and Markets, a global market research firm. 

 

기사 이미지 확대 보기
닫기