SolarWindow Technologies, Inc.
SolarWindow Technologies, Inc. is a U.S.-based development-stage company focused on semi-transparent electricity-generating coatings and methods for applying them to glass, plastics, and other surfaces. Its LiquidElectricity® Coatings are designed to turn ordinary surfaces into photovoltaic devices that can generate electricity from sunlight, artificial light, and low-light conditions.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueSemi-transparent coatings that convert glass and plastic surfaces into photovoltaic devices.
Organic PV materials and device concepts used in the company's light-harvesting platform.
Methods and process know-how for applying coatings to rigid and flexible substrates.
Potential use cases for windows, facades, greenhouses, and other architectural surfaces.
Collaborative arrangements to commercialize the technology through third parties.
Customers
The company’s target customers are not yet broad end-market buyers but rather commercial partners, manufacturers, distributors, and licensees that can help bring the technology to market. Its stated end uses include building-integrated photovoltaics, architectural glass, flexible surfaces, and agrivoltaics such as smart greenhouses. Demand would come from customers seeking transparent or semi-transparent solar functionality without replacing the underlying surface.
Companies that can license, co-market, co-promote, or manufacture the technology.
Manufacturers that could integrate the coatings into existing solar or glass products.
Architectural and construction customers interested in solar-active glass surfaces.
Operators seeking transparent electricity-generating surfaces for smart greenhouse use.
Channel partners that would extend market reach and support product adoption.
Strategy
The company’s strategy is to commercialize its coatings through licensing, co-marketing, co-promotion, joint ventures, and manufacturing partnerships rather than building a large direct sales force. It also emphasizes product and brand development, intellectual property monetization, and selective acquisition opportunities that could strengthen its technology platform and supply chain. Access to external financing remains central to executing this plan and advancing product development.
Third-party channels can accelerate market access without a large internal sales force.
Technical progress is needed before the coatings can be broadly commercialized.
IP is a core asset that can support licensing and partner-led commercialization.
Development and commercialization require external capital to fund operations and scale-up.
Geography
SolarWindow is incorporated in Nevada and has executive offices in Scottsdale, Arizona. The company sources products primarily in the United States and China, which makes its supply chain sensitive to cross-border logistics, shipping delays, and input availability. Its commercialization opportunity is global in nature because building-integrated solar and greenhouse applications can be pursued across multiple markets.
Risks
The company faces substantial commercialization risk because its market is emerging, unproven, and highly competitive. Its success depends on technical performance, customer acceptance, partner execution, and the ability to raise capital, while supply chain disruption and foreign sourcing add operational risk.
The business requires external capital to fund development and commercialization.
Exposure: Operating runway and product development
The market for organic solar and energy-harvesting products is emerging and unproven.
Exposure: Product adoption and market acceptance
Larger or earlier-to-market competitors may offer lower-cost or better-performing alternatives.
Exposure: Solar coatings and alternative energy technologies
The go-to-market model relies on licensing, co-marketing, and manufacturing partners.
Exposure: Distribution and commercialization execution
Sourcing from the United States and China exposes the company to shipping and logistics delays.
Exposure: Materials availability and cost
Accounting
Judgemental itemsManagement notes that financial statements rely on estimates that can materially differ from actual outcomes.
Impact: Expense recognition and asset/liability valuation
Non-cash equity awards can be a meaningful component of operating expense for a development-stage company.
Impact: Reported operating loss and dilution
The company discloses related-person transactions that may affect comparability and governance assessment.
Impact: Expense classification and disclosure quality
Equity financings and warrants can materially affect the balance sheet and equity section.
Impact: Cash, equity, and dilution
Development assets and equipment may require impairment or fair-value judgments if commercialization lags.
Impact: Asset carrying values and earnings
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Last updated: 24/09/2026