SolarWindow Technologies, Inc. (WNDW)

[TRUISM]

Evolution of the Company

Founded in 1998 under the name Octillion Corp., the company underwent several transformations and experienced financial losses over the years. Continued strides in the last five years include partnerships and relationships with the U.S. Department of Energy National Renewable Energy Laboratory (NREL), and award-winning scientists and engineers from companies like Royal Dutch Shell and Duke Energy.

Conklin said Octillion Corp. was a technology incubator and development company. At that time the company had begun working on motion power, which later resulted in the formation of a subsidiary called Kinetic Energy Corp (KEC) in 2008. Octillion also changed its name to New Energy Technologies in 2008.

Around the same time, one of the directors in the company was looking at organic light-emitting diode technology and trying to determine if there was a potential use for it in the biotech space. Their discovery was made when a little bit of electricity was generated by applying a coating to glass. Although the voltage was very, very, low, it was the spark of an idea.

That spark led to the formation of another subsidiary, New Energy Solar Corporation in 2009. This subsidiary entered into an agreement with the University of South Florida, where SolarWindow was established, and a strategy for commercialization was realized.

In furtherance of the commercialization strategy, in March 2015 New Energy Technologies was renamed SolarWindow Technologies Inc.

Conklin touts the company’s success in outlasting strong competitors such as Konarka Technologies and Pythagoras Solar.

“Both of those companies had very different marketing strategies,” he said, “and as a result of their business strategies and product development, neither one of them are in business.”

For example, Conklin explains that despite all the money that Konarka invested in its technology, which was intended for building integrative photo voltaics (a similar application as SolarWindow) it commercialized a messenger bag and a solar umbrella, losing sight of its original goal.

A company must remain focused on its core strength.
— John A. Conklin, CEO and president, SolarWindow Technologies, Inc.

“When we’re looking at success, and we’re looking at commercialization, a company must remain focused on its core strength,” Conklin emphasized, “and not dilute that with other product ideas that may sound great.”

In 2010, Conklin became the CEO and president of SWT at a time when its stock was at a low of 51 cents per share. Under his leadership, the stock has risen to $2.30 per share and SolarWindow has advanced toward commercialization.




Blessings to All

TRUTH