SKC to invest in U.S. smart window technology firm Halio

[Courtesy of SKC]

South Korea’s SKC is expanding its energy-saving solutions business by investing in U.S.-based smart window technology company, Halio. SKC’s board of directors convened on Tuesday to approve an investment plan worth up to $70 million and through this investment, SKC aims to bolster its eco-friendly initiatives, focusing on two core pillars of smart window-based energy-saving solutions and biodegradable materials for reducing plastic waste.

Smart windows employ eco-friendly technology that uses electricity to alter the tint of building glass, regulating the passage of solar energy and heat. On hot days, the glass darkens, reducing sunlight penetration and enhancing the window’s cooling efficiency. Conversely, on colder days, it becomes transparent, optimizing heating efficiency. While appearing like regular glass on the outside, these smart windows feature a technology-based structure akin to batteries, with color-changing layers and an electrolyte inside.

Replacing standard glass with smart windows in commercial buildings can reduce electricity consumption and carbon emissions by up to 40 percent each.

The investment decision comes amid the growing global emphasis on reducing greenhouse gas emissions. Countries are increasingly regulating window energy efficiency and mandating zero-energy buildings, which use renewable technologies such as solar and wind to produce energy while reducing the overall use of energy.

The smart window market is expected to see substantial growth, with an estimated annual growth rate of around 44 percent until 2030.