Developer of Smart Glass Tech Signs Supply Agreement With REIT

This agreement, which could lead to Crown Electrokinetics providing its Smart Window inserts to Hudson Pacific Properties, could represent about a $100 million opportunity for the tech firm, noted a Dawson James Securities Inc. report.

To meet the demand expected in 2022 for its Smart Window, resulting from
the Hudson agreement, Crown Electrokinetics Corp. (CRKN:OTCQB) is “expanding its thin film and lamination capacity and capabilities,” reported Dawson James Securities analyst James McIlree.

The first project with Hudson, Dawson James purports, would be the installation of 450 of Crown’s Smart Window inserts in the Brazos Atrium office building in Houston, Texas. This order would generate about $500,000 for Crown and related installation would likely be done in Q1/22. 

After the Houston office building, installations are expected to next be done in Los Angeles, the Bay Area and an undisclosed location in the Pacific Northwest.

“The Hudson master supply agreement suggests strong demand throughout calendar 2022,” McIlree added.

Generally, Crown is in discussions about its technology with more than 24 real estate investment trusts. Building owners will likely be receptive to it, McIlree added, given several energy market factors, including rising costs.

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Disclosures for Dawson James Securities Inc., Crown Electrokinetics Corp., Dec. 27, 2021

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