Glass to Power’s capital increase was successfully completed. Thanks to crowdfunding 2.250 million euros were collected from 500 new investors
Milan, July 5th 2018 – The second equity crowdfunding campaign, started on May 15th, ended successfully for Glass to Power. The CrowdFundMe platform was used, which allowed Glass to Power to complete its capital increase of 2.250 million euros, collected by about 500 new investors in less than fifty days. It is a record for Italy: it is the first time that a crowdfunding campaign has reached and exceeded the 2 million euros threshold. The innovative startup took advantage of the resources collected in 2017 with the previous campaign (300,000 euros from 54 new investors) to develop its technology to a pre-market stage and to find industrial partners. A fundamental contribution to the capital increase came from Federico De Nora SpA, the holding company of the Industrie De Nora Group, an Italian multinational company leader in electrochemical technologies for sustainable growth: it is one of the founder shareholder of Glass to Power and holds 25 percent of the capital. At this stage, it reaffirmed its trust by investing 626,740 euros.
Last June Glass to Power acquired the family of patents for its transparent photovoltaic windows from the University of Milan Bicocca for one million euros. This will allow the company to increase its value and become autonomous in terms of intellectual property management. The rest of the capital raised will be invested in other strategic operations leading Glass to Power towards a further dimensional leap and, in perspective, a listing on the Stock Exchange over the next two to three years. The technology is now ready to allow the finalization of an industrial production line of windows with good performance at relatively low costs. The forecast is to realize the first experimental installations by the end of this year and market the product in early 2019.
On July 4th, Glass to Power was among the winners of the second edition of the Mario Unnia Award, promoted by the accounting and consulting firm BDO Italy with the aim of highlighting those companies that make “talent” their vision, show growth and create value for the territory and for the country.
In October 2017 BDO became Glass to Power’s Financial Advisor and evaluated the company at 9 million euros pre-money. In March, Glass to Power was transformed into a limited liability company. After the capital increase Glass to Power’s value is 11.250 milllion euros.
Glass to Poweris a spin-off of the University of Milan Bicocca, founded in September 2016, with the aim of realizing transparent photovoltaic windows that can be integrated without any aesthetic impact in the architecture of buildings. This is possible thanks to a technology called LSC – Luminescent Solar Concentrator: semitransparent slabs of plastic materials doped with chromophores which, due to the absorption of sunlight, re-emit infrared wavelength photons. These photons are guided for total reflection to the edges of the device where they are converted into electricity by standard photovoltaic cells. Energy flows invisibly from the transparent windows of houses, offices, shopping centers, directly to storage systems or for immediate use by any user.