[THE INVESTOR] SK Corp., the investment holding company of energy and telecom conglomerate SK Group, said on Jan. 30 that it has decided to invest US$100 million in a US-based smart-tinting glass maker.
In a statement, SK said it would take over 4.66 percent of Kinestral Technologies, a developer and manufacturer of smart-tinting glass for windows in homes and office buildings, for US$7.5 million, and buy US$92.5 million worth of its bonds, which are convertible into stocks.
Smart glass can alter its transmission properties when light or heat is applied and can be used in various fields.
The global smart glass market, currently estimated at 8 trillion won per year, is expected to reach 15 trillion won by 2026, according to SK.
Established in 2010, Kinestral Technologies is one of the world’s three major smart glass makers. The company’s technologies transform glass into responsive, intelligent and attractive elements of a building. Kinestral’s flagship product Halio has received innovation awards.
By Ram Garikipati and newswires (email@example.com)