SOURCE: WattGlass

February 09, 2017 12:41 ET

WattGlass Secures Series A Financing Round Led by DSM Venturing

FAYETTEVILLE, AR --(Marketwired - February 09, 2017) - WattGlass announced today the closing of Series A funding round led by DSM Venturing. WattGlass is a winner of the 2016 SunRISE TechBridge Challenge, a competition organized by Royal DSM, Fraunhofer, and Greentown Labs to realize innovations in Solar Energy. The WattGlass product, an anti-reflective and anti-soiling coating for solar panels utilizes water based chemistry to improve the performance of solar modules and advance the sustainability of solar materials. The development of this technology has been supported by the National Science Foundation (NSF) Small Business Innovation Research (SBIR) program, the Department of Energy (DOE) SunShot program, and the Arkansas Economic Development Commission (AEDC). WattGlass coatings greatly reduce reflection of light from glass surfaces which results in improved performance for solar modules, greater output from LED lighting, and reduction of glare from architectural glass and ophthalmic lenses.

Corey Thompson, CEO of WattGlass said, "DSM is a leader in our market and has extensive experience developing and commercializing material-based solutions for high-tech markets. We are excited to be a winner of the Sunrise challenge that enabled us to receive funding from DSM Venturing. This funding provides us the resources needed to commercialize the research we are conducting under the NSF and DOE grants, and to bring our novel product to customers." WattGlass is looking to establish domestic production of their proprietary chemical blends for shipment to customers worldwide.

"WattGlass is an excellent addition to our portfolio and a great example of a company that we were looking for in SunRise that fits with DSM strategically and advances the state-of-the art in solar materials," said Pieter Wolters, Managing Director, DSM Venturing. "We are excited to help the company leverage their early successes and bring the technology to market."

About WattGlass
WattGlass has developed a water based anti-reflective coating for flat glass and polycarbonate applications. WattGlass coatings virtually eliminates reflection, glare and fogging on glass and other transparent materials using a patent pending nanoparticle coating. The coating is cost effective and easy to manufacture at industrial scales. More information can be found at www.wattglass.com.

About DSM - Bright Science. Brighter Living™:
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competencies in Life Sciences and Material Sciences, DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as: food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM and its associated companies with approximately 25,000 employees deliver annual net sales of about EUR10 billion. The company is listed on Euronext Amsterdam. More information can be found at www.dsm.com.

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