Scottsdale, AZ – October 26, 2018 – SolarWindow Technologies, Inc. (OTC: WNDW), developer of transparent coatings that turn ordinary glass into electricity-generating windows, announced the appointment of its Chief Financial Officer, Mr. Steve Yan-Klassen, who brings more than 20 years of public company accounting and financial statement auditing experience, stock exchange reporting, regulatory compliance, and corporate finance experience covering a broad range of industries, including technology, energy, and manufacturing.
“It’s my honor and privilege to welcome Steve to our SolarWindow team; Steve’s appointment as CFO brings two decades of public company accounting, audit, corporate finance and regulatory compliance experience to the company,” stated Mr. John Conklin, President and CEO of SolarWindow Technologies, Inc.
“Although Steve is our CFO, he’s our critical partner for providing an overall view of finance, market developments, and keeping his eyes wide open on our future, and guiding our success.”
As a Chartered Professional Accountant and a Certified Management Accountant, Mr. Yan-Klassen has had extensive experience in the preparation of complex deferred income tax calculations and models involving multiple tax jurisdictions and foreign currency issues, assisting real estate trusts with wind-ups and distributions, mortgage investment corporations with valuations analysis and reporting, as well as private companies and charities with assurance work, including tax and information returns.
Mr. Yan-Klassen’s appointment follows recent technology news announcing:
- The filing of more than 90 U.S. and international patents and trademarks for protecting its brand identities, products, services, processes, and materials. Our technology is featured in our ‘Imagine – SolarWindow’ video: https://www.solarwindow.com/2016/05/imagine-solarwindow;
- An alliance with nTact, a global leader in coating process equipment, to prototype, test, and manufacture machinery and equipment necessary for coating glass and flexible materials with the company’s transparent electricity-generating coatings, which will be used to create a manufacturing line;
- A new company performance record for power efficiency with a 34% increase in performance over previous generations of its transparent electricity-generating glass; and
- The collaboration with Raynergy Tek, one of the world’s leading suppliers of organic photovoltaic materials, used by SolarWindow to coat ordinary glass and turn it into electricity-generating windows to support the company’s pursuit of high-volume production, increased power output, and enhanced transparency of SolarWindow™ products for tall towers and skyscrapers.
The company continues to work on its Process Integration and Production Agreement with Triview Glass Industries, LLC, an award-winning custom glass fabricator located in suburban Los Angeles, where the company plans to fabricate specific SolarWindow™ electricity-generating glass products at commercial scale.
About SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. (Symbol: WNDW; www.solarwindow.com) creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows into electricity-generating windows, which produce power under natural, artificial, low, shaded, and even reflected light conditions.
Targeting the estimated 5.6 million U.S. commercial buildings, which consume almost $150 billion in electricity annually, the company’s transparent electricity-generating windows could reduce energy costs by up to 50% and achieve a one-year financial payback for building owners, the industry’s fastest financial return, according to independently-validated company power and financial modeling.
Power and Financial Model Disclaimer
The company’s Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.
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Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although SolarWindow Technologies, Inc. (the “Company” or “SolarWindow Technologies”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements 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 of the Company’s products, technical problems with the Company’s research and products, price increases for supplies and components, litigation and administrative proceedings involving SolarWindow, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company’s operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company’s ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that SolarWindow Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company’s most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.