SKC will invest $70 million in Halio, a California-based electrochromic glass solution provider, to strengthen its environmentally friendly materials business.
The Korean company on Tuesday held a board meeting and finalized the agenda. Details about the stake have not been disclosed.
Founded in 2010, Halio develops and commercializes smart glass using electrochromic technology that maximizes natural light while mitigating solar heat and glare.
Its Smart Window technology tints the glass of buildings by using electricity to manage heat and light penetration. When the temperature is high, the glass becomes darker to reduce the light coming inside the building and maximize cooling efficiency.
In low temperatures, the glass becomes more transparent.
Applying Smart Windows to commercial buildings can reduce electricity consumption and carbon emissions by up to 40 percent, according to SKC.
The Smart Window market is expected to grow at an annual rate of 44 percent until 2030, SKC added.
BY SARAH CHEA [email@example.com]