NxLite in Canton Township today announced it has closed $9.2 million in Series A funding to accelerate the deployment of its next-generation energy-control coatings and continue to increase capacity at its NXLite Advanced Innovation and Manufacturing Center.
The investment round was led by Crabtree Lane Alt, a Chicago-based active financial investor, and had participation from leading manufacturers in the door and window industry and venture capital firms like Earth Foundry, MUUS, New Climate Ventures, and ACT Venture Partners of the Netherlands.
Beyond increased capacity to meet growing demand for its window and transparent surface solutions, NxLite says it will use the financing to bolster its commercial operations in Michigan, accelerate its go-to-market strategy, and expand strategic relationships to continue capturing high-growth market segments.
“With strategic partnerships in place, global customers, and unique offerings, the Series A investment provides us the capital to meet the growing demand of our customers,” says David Mather, chairman and CEO of NxLite. “We have the chance to redefine energy efficiency and operating costs in every transparent application.”
Unlike traditional solutions, NxLite’s air-stable coatings can be applied to monolithic (single-pane surfaces) applications as well as multi-pane window solutions. These applications, according to NxLite, offer design flexibility as well as building retrofitting opportunities for a broad range of transparent materials including glass, acrylic, and polycarbonate.
Opportunities NxLite coatings address include:
Residential and commercial windows, drastically cutting heating and cooling costs for consumers and owners.
Refrigeration display doors, improving efficiency and reducing spoilage.
Window inserts, used to retrofit existing buildings to modern standards.
Lightweight solutions for transportation, contributing to fuel efficiency, range, and more-efficient internal climate control.
The company says it already has secured joint development agreements and offtake purchase orders with leaders in the window manufacturing, plastics, and food and beverage industries.
According to the U.S. Department of Energy, up to 30 percent of building heating and cooling energy is lost through windows, presenting an opportunity for NxLite’s technology to make an immediate environmental and economic impact.
For more information, visit nxlite.com.
