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SK invests $100 mn in US smart glass maker Halio with Capricorn Investment

Post Time:Dec 08,2021Classify:Company NewsView:1007

SK Inc., the holding entity of South Korea’s third largest conglomerate SK Group, has made an additional investment in a U.S.-based smart glass developer, accelerating its foray into the advanced, environment-friendly materials market.

SK recently invested a combined $100 million in California-based smart glass maker Halio Inc. in a consortium with U.S. venture capital Capricorn Investment Group, according to industry sources on Tuesday. This is SK’s second investment in the company following its capital injection of $100 million in 2019. Details about the investment ratio were not disclosed.

Halio, founded in 2010, develops and commercializes smart glass using electrochromic technology that maximize natural light while mitigating solar heat and glare. Its technology delivers superior durability ensured by incorporating technology proven in solar systems that must endure harsh environments for decades and reduces a building’s energy consumption by up to 20 percent.

The company has developed the industry’s most advanced smart glass and a cloud-based AI control system to remotely control and monitor glass performance. With the latest funding from SK and Capricorn, it plans to further upgrade its smart glass technology and ramp up its production facility.

SK’s latest investment decision is part of its efforts to meet the world-wide environmental, social and governance (ESG) initiative.

“SK recognizes the benefits that Halio Smart Glass brings to our lives, the planet, and its synergy with our investment in ESG,” said Choi Dong-uk, vice president of SK.

SK shares finished unchanged at 266,000 won in Seoul trading on Wednesday.

Source: https://pulsenews.co.kr/Author: shangyi

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