SolarWindow Board of Directors Elects Majority Stockholder Harmel S. Rayat as Chairman
SolarWindow Technologies, Inc. (OTC:WNDW), developer of transparent liquid coatings that turn ordinary glass into
electricity-generating windows, today announced the appointment of Mr. Harmel S. Rayat, company founder and longtime majority
stockholder, as Chairman of its Board of Directors. Mr. Rayat’s appointment follows a series of important SolarWindow announcements
regarding the company’s push to commercial production.
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Mr. Harmel S. Rayat, Chairman of the Board of Directors, SolarWindow Technologies, Inc. (Photo: SolarWindow)
Last week, SolarWindow announced a record-setting 34% power performance increase for its transparent electricity-generating
glass. Just prior, a collaboration was announced with one of the world’s leading suppliers of organic photovoltaic materials,
Taiwan-based Raynergy Tek, in pursuit of high-volume production and enhanced transparency of SolarWindow™ products for tall towers
and skyscrapers.
SolarWindow also disclosed that it entered into a Process Integration and Production Agreement with suburban Los Angeles-based
Triview Glass Industries, LLC. Initially working to establish manufacturing processes and a production line through this agreement,
SolarWindow and Triview plan to fabricate specific SolarWindow™ electricity-generating glass products at commercial scale.
In his role as Chairman, Mr. Rayat will work with the Board to support SolarWindow President and CEO, Mr. John Conklin, and the
management and product development teams. He will assist with the company’s customer outreach for eventual product roll-out, and
introduce SolarWindow to his established network of developers and owners of commercial real estate, the early target market for
the company’s electricity-generating windows.
Mr. Harmel Rayat is a well-established entrepreneur-investor, best known for his portfolio of Class-A commercial properties in
the U.S. and Canada (www.taliajevan.com).
Mr. Rayat is the company’s majority stockholder, having invested over $11 million in recent years. He founded SolarWindow and
conceived the idea of commercially applying invisible particles onto glass in order to create the world’s first transparent
electricity-generating windows.
Starting with a personal investment of $20 million in 2006, Mr. Rayat has since built a commercial real estate portfolio valued
at $185 million, using modest leverage. His portfolio has generated annualized return on equity of 42% per year for the 12 years
ending December 31, 2017, compared to 11% for the Dow and 17% for NASDAQ.
Mr. Harmel S. Rayat has shared his investment strategies on how to generate above-average returns with relatively low-risk at
numerous public appearances, speaking engagements, and in his self-published book “Winning with Commercial Real Estate.”
“Mr. Rayat has repeatedly provided SolarWindow with much-needed financial backing. His support is testament to his unwavering
faith in our management team and all we are doing to bring his first-ever idea to commercial production,” stated Mr. John Conklin,
President and CEO of SolarWindow Technologies, Inc.
“We’re excited to have Mr. Rayat join our Board as Chairman. He’s a highly respected and successful investor-entrepreneur, who
has been with us from inception.”
About SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics,
these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and
even reflected light conditions.
Our liquid coating technology has been presented to members of the U.S. Congress and has received recognition in numerous
industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may
achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and
financial modeling.
Power and Financial Model Disclaimer
The company’s Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling
calculations that are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable
energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar
radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and
vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and
energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary
based upon building-to-building situational characteristics and varying installation methodologies.
For additional information, please call Briana Erickson at 800-213-0689 or visit: www.solarwindow.com .
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Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This
release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions
about future events. Although SolarWindow Technologies, Inc. (the “company” or “SolarWindow Technologies”) believes that the
expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give
no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve
assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,”
“will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or
other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to
adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products,
adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in
general and administrative costs, termination of contracts or agreements, technological obsolescence of the company's products,
technical problems with the company's research and products, price increases for supplies and components, litigation and
administrative proceedings involving the company, the possible acquisition of new businesses or technologies that result in
operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the
company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the
company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and
commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary
factors, and other specific risks. There can be no assurance that further research and development will validate and support the
results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be
obtained or that SolarWindow Technologies, Inc. will be able to develop commercially viable products on the basis of its
technologies. In addition, other factors that could cause actual results to differ materially are discussed in the company's most
recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and
copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington,
D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange
Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports,
proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities &
Exchange Commission at http://www.sec.gov. The company undertakes no obligation to publicly release the results of any revisions to
these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
SolarWindow Technologies, Inc.
Ms. Briana L. Erickson, 800-213-0689
Briana@SolarWindow.com
or
Media Contact:
Damaak Group
415-799-8027
media@solarwindow.com
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