At ChromoGenics we strongly believe in the potential of smart glass and the use of electrochromic materials! We are in an exciting phase of growth within an attractive market with great potential. The many years of groundbreaking research have resulted in a unique patent portfolio and today ChromoGenics consist of three lines of products. These include dynamic glass with controllable heat and light transmission, static glass with world leading performance and designed solar cell facades.
ChromoGenics – your manufacturer of smart glass
Our state-of-the-art production facility includes climate-stabilized cleanroom facilities, production lines for ConverLight® glass laminates, testing and development facilities. This is the place where we develop our exclusive IP portfolio, consisting of proprietary know-how and patents covering essential materials, processes and applications in a total of 18 patent families. The last one will expire in 2033, with several additional patents pending. ChromoGenics’ current position as a distinguished smart glass manufacturer is therefore just the first chapter in our exploration of electrochromic solutions.
The history of ChromoGenics
ChromoGenics was founded in 2003 and arose as a natural outcome of 20 years of research in electrochromic materials by Professor Claes-Göran Granqvist and his team at the Ångström Laboratory at Uppsala University in Sweden. The many years of groundbreaking research have resulted in a unique patent portfolio that has given ChromoGenics a leading position worldwide within electrochromic materials.
In 2016 the electrochromic and dynamic product ConverLight® was commercially launched.
In 2017 ChromoGenics share (CHRO) was listed on Nasdaq First North Growth Market. Certified Adviser is Erik Penser Bank.
In 2018 ChromoGenics acquired the I-Window product and by that added a static solar control glass with unique and patented properties verified by the Ångström Laboratory. This product is relabeled ConverLight® Static.
In 2019 ChromoGenics invested in sputter machines and we are currently building a brand new sputtering plant in Uppsala. This factory is unique in its kind for northern Europe and was operational in 2021. The purpose of the new factory is to increase the sustainability for our production by reducing transport, shorter lead times and a direct control of the quality. Sputtering is used in our roll-to-roll process where plastic film is coated with nano-thin electrochromic material, a major process in the production of our dynamic product. Several of our patents are related to this process. The capacity of the factory makes it possible to produce and deliver electrochromic foil on the global market.
A proptech company with ESG in focus
ChromoGenics is a proptech company that produces dynamic glass for real estate. The real estate industry needs to do something concrete with ESG (Environmental, Social and Governance), both socially and for the climate. Therefore, the interest in proptech has exploded. Read more about ESG in EU Green Deal and Agenda 2030.
Proptech stands for Property Technologies and involves the application of new technology and digitization for the real estate sector.ChromoGenics is in a unique position as our innovative products make a big difference both for the climate and socially. Our smart, dynamic glass contributes to 20-40% reduced energy consumption, lower operating costs and reduced CO2 emissions which gives companies the opportunity to meet the criteria for various environmental certifications. Daylight and views have also been shown to have a great social impact as it improves our cognitive abilities, our productivity, reduces the risk of depression and makes us sleep better.
ChromoGenics business idea
ChromoGenics is a proptech company that produces smart dynamic glass that improves indoor comfort and well-being as well as reduces energy use and operational costs in properties. The company’s product ConverLight® Dynamic is based on unique patented technology from Ångströmslaboratoriet in Uppsala. The technology is a dynamic foil that can be laminated in glass, which provides good sun protection in properties and reduced environmental impact in production, transport and use.
In addition to ConverLight Dynamic, ChromoGenics also sells the static glass technology ConverLight Static as well as the energy efficient colored solar cell panels ConverLight Energy for facades. All ideas and products that are being developed at ChromoGenics have environment and health in mind. That means a focus on environmentally friendly material, reduced energy consumption, increased access to daylight and views as well as improved indoor comfort. The company also intends, through its own machine capacity and expertise, to conduct industrial sputtering as a subcontractor to external parties. The company’s market focus is initially Sweden and Scandinavia, followed by the rest of Europe, Asia and the USA. Markets outside Sweden are intended to be processed through various external partners.
ChromoGenics business model and strategy
ChromoGenics’ delivers glass solutions for window and facade glasses for reduced climate impact and increased prosperity for commercial buildings. The business model is to independently develop, produce and sell the dynamic glass technology ConverLight Dynamic and deliver the products globally. Finished glass will be delivered from the company’s own factories. The company will also deliver dynamic foil and control systems to regional partners who can customize and manufacture finished glass solutions locally. ChromoGenics also sells the static glass technology ConverLight Static as well as the energy efficient colored solar cell panels ConverLight Energy for facades.
ChromoGenics strategy is to produce electrochromic foil based in Uppsala for direct delivery to various globally dispersed partners in the production of glass. These hubs will then, within the framework of their normal operation, produce laminated glass with ChromoGenics electrochromic foil integrated, for later delivery to the end customer. Therefore, heavy and environmentally damaging glass transports can be significantly reduced. Customers can also receive faster deliveries and lower risks in the supply chain.
The company’s strategy is to create added value by collaborating with the extensive and well-developed industry for refining and laminating glass. An important factor in the company’s market, production and distribution strategy is to work closely with various geographically dispersed insulating glass manufacturers. Such collaborations mean that local market presence can be established more quickly than if the Company’s own distribution and market channels were to be established in the same markets.
To achieve success with the company’s long-term strategy and to be able to maintain the necessary quality and delivery control, ChromoGenics has chosen to focus on its own production of electrochromic material for ConverLight Dynamic. The acquisition of own sputtering machines in 2019 forms an integral part of this production strategy and enables a significant increase in cost-effective and quality-controlled production of electrochromic foil.
ChromoGenics position on the market
ChromoGenics commercializes innovative glass technologies under the brand ConverLight for an increased indoor comfort, improved energy efficiency and architectural freedom. The company is a proptech company that is a supplier of materials and functions in the form of electrochromic foil that is good for the environment and health in real estate. ChromoGenics also positions itself as a subcontractor that can add value in an already functioning value chain and market. The position is favorable as the real estate market is under great pressure to do something concrete with ESG and is looking for solutions and products that are driven by environmental and health aspects. The real estate and glass industry are mature industries that are looking for new technologies to meet everything from construction requirements to certifications and to be able to continue to grow.
Market size and expected growth
The global market for smart, dynamic glass is on the rise and is growing rapidly. It is a market that is maturing rapidly. There is a growing demand and awareness of the new technology and what it can mean for the real estate industry. The market is expected to increase by approximately USD 3.7 billion by 2018 to USD 10 billion by 2025, which corresponds to an increase of approximately15.2 percent per year. The global market for glass, including the automotive industry, is expected to grow to around USD 153-181 billion by 2024, corresponding to 6.6-9.3 percent growth between 2019-2024.
Several established companies and organizations have already discovered the advantages that ConverLight contributes to their business environment. Will you be the next?
Latest Press Releases
- ChromoGenics makes changes to the management team August 9, 2022
- ChromoGenics wins new orders for ConverLight Static glass July 26, 2022
- ChromoGenics wins order in Denmark and continues to adapt its costs July 4, 2022
- ChromoGenics wins another ConverLight Dynamic glass order for assisted living housing project June 28, 2022
- ChromoGenics receives additional order for nursing home June 16, 2022
- ChromoGenics adjusts cost levels June 7, 2022
- ChromoGenics appoints Fredrik Andersson to the board June 3, 2022
- ChromoGenics appoints new CFO May 20, 2022
- Report from the Annual General Meeting of ChromoGenics AB on 19 May 2022 May 19, 2022
- Interim Report January-March 2022 May 19, 2022
- ChromoGenics has received a new order from Norway May 18, 2022
- ChromoGenics receives its first order from Germany May 13, 2022