Cash injection for energy-saving window foils
A company that has developed technology to reduce energy consumption in cars and buildings has received a US$6million funding boost to begin mass production.ChromoGenics hopes to open its first large-scale manufacturing plant next year to produce special plastic foils that can regulate the amount of light and head radiation passing through windows when a low electrical voltage is applied.
Bosses of the Swedish firm say the ultra-thin foils, which can be applied to the surface of windows or used as laminates between layers of glass, can reduce the need for heating or air conditioning and dramatically cut energy use.
Some Swedish studies have suggested that electrochromic technology, such as that used by ChromoGenics, can reduce energy consumption by as much as 50%, depending on climatic conditions.
Lars-Olof Bäckman, chairman of ChromoGenics, told Edie that the company was currently only able to sell the technology for test purposes, but hoped to make it more affordable and widely available by using plastic and moving to mass production.
He said: "There is similar technology based on glass but it is very expensive. Our ambition is on the price level.
"As far as we know there are no other companies doing this on the flexible plastic foils."
Mr Bäckman added: "The market is screaming for technology but there is no-one else producing it at the moment - even we are not yet.
"It is a very exciting opportunity."
Bengt Åkerström, chief executive of ChromoGenics, said: "At a time when carbon footprint reduction is a key priority for property, construction and transportation companies around the world, our technology provides a cost-effective solution.
"We are delighted that major investors have recognised this by placing their money and their trust in ChromoGenics."
The US$6million funding package was supported by the company's existing shareholders and a new investor, Swedish financier Industrifonden, which contributed half of the total.
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