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ChromoGenics wins order in Denmark and continues to adapt its costs
ChromoGenics to deliver 1,000 m2 of ConverLight® Dynamic glass to a school in Copenhagen
The entire 1,000 m2 project is worth around SEK 5 million and the company has received orders for the first fifth of this. Deliveries will commence in Q3, 2022 and are expected to be completed in Q1, 2023. The contract is being performed in close partnership with Aluflam, a supplier of high quality glazing and façade solutions. In so doing, ChromoGenics is taking a step onto the Danish market in line with its strategy of focusing on delivering dynamic foil and related control systems. Aluflam will be responsible for glass deliveries, IGU production and installation in the property.
On completion, the upgraded building will be better protected against solar heat, together with superior insulation and sound proofing, which all adds up to an improved study environment for the students. For the property owner, the solution will mean greater energy efficiency, lower running costs, and enhanced comfort for the tenant.
“We are absolutely delighted that Aluflam and the property owner have shown their confidence in us in choosing to improve the property with ConverLight® glass and technology from ChromoGenics. We are turning words into deeds in realising our strategy that aims to focus our operations on the development and production of dynamic foil and related control systems. Although our partner being responsible for supplying the glass means lower sales for ChromoGenics, it also enables us to reduce our costs, streamline our operations and increase our gross margin,” says Fredrik Fränding, CEO of ChromoGenics.
The company is also continuing to review its costs. “The way interest rates are moving and general market concerns are creating uncertainty for the construction industry. We envisage continued good growth of business opportunities but need to adapt our costs to the prevailing economic situation,” says Fränding, CEO of ChromoGenics.
ChromoGenics is a PropTech company that produces dynamic glass for real estate. One company product, ConverLight® Dynamic, controls indoor comfort by optimising daylighting, good views and blocking solar heat, and thereby contributing to reducing costs for cooling. ConverLight® Dynamic is based on a patented solution where electrochromic coatings are sputtered onto plastic film and then laminated between glass layers. The plastic film is easy to transport which means long distance shipping of bulky glass can be avoided. ChromoGenics also offers ConverLight® Static, a static glass version, and a façade glazing solution, ConverLight® Energy. ChromoGenics has supplied glazing technology to a large number of major real estate companies. Its shares were listed on the Nasdaq First North Growth Market in 2017.
ChromoGenics emerged from world-leading research at the Ångström Laboratory at Uppsala University. The company’s production site in Uppsala has been partly financed via conditional loans from the Swedish Energy Agency. ChromoGenics shares (CHRO) are listed on the Nasdaq First North Growth Market with Erik Penser Bank as Certified Adviser: firstname.lastname@example.org, +46 (0)8 463 83 00.