$13.4 Million Round to Accelerate Transition of NEXT’s Photovoltaic Windows to Commercial Process, Testing and Certification
Lead investors in the round include Alon Blue Square Israel, Ltd., a group with major business activities and holdings across the real estate development and management market as well as energy, retail and public transportation sectors, predominantly in Israel; GEAR Innovation Network, the innovation arm of Golden Energy and Resources Ltd., one of the largest vertically-integrated mining, energy and resources groups in Southeast Asia and a part of the Sinar Mas Group; and Viracon, a leading architectural glass fabricator and subsidiary of Apogee Enterprises, a provider of architectural glass, aluminum framing systems, and installation services for commercial buildings around the world. Highly regarded real estate family office Rincon Advisors also participated in the financing.
Proceeds from this round of financing are already accelerating the transition to large-area coating for commercialization, pilot installations, durability testing, and industry certification, in preparation for use by leading window manufacturers.
New building materials and innovative designs are now required to enable buildings to meet net-zero and sustainability requirements. We believe our photovoltaic windows are ideally aligned to support the global energy transition to renewables, and this new funding is accelerating our plans.