Los Angeles, California, April 19, 2022 — McapMediaWire — Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading smart glass technology company, is pleased to share that its Director, Mr. Gizman Abbas, was awarded a prestigious recognition as an Outstanding Alumnus in Electrical and Computer Engineering from Auburn University’s Samuel Ginn College of Engineering.
Mr. Doug Croxall, CEO of Crown, “Mr. Abbas’s recognition confirms the value of his experience and knowledge and the many contributions he has already made to the Company. We are very proud of having him on our Board of Directors and for his advocacy and support of environmental change, and wish to congratulate him for his achievement”.
Mr. Abbas has been a proponent of environmental engagement, he currently serves on the board of NYISO, which leads the US utility space in advocating for carbon-based power pricing to level the playing field for green generators. Mr. Abbas was a Founding Partner in Twenty First Century Utilities, a firm focused on adoption of clean low-cost energy. He sits on the Board of Directors of Crown Electrokinetics since 2021.
Mr. Abbas received a BS in Electrical Engineering from Auburn University’s Samuel Ginn College of Engineering and an MBA from Kellogg School of Management at Northwestern University.
Crown has signed Master Supply Agreements (“MSA”) with 2 United States REIT’s (Real Estate Investment Trusts) and one PropTech Building Owner to install its Smart Window Inserts powered by DynamicTint™ in various office buildings. The Company is working aggressively towards the first product launch, with shipping expected in Summer 2022.
Crown’s IP valuation indicated a combined patent and trade secret fair market value (FMV) of $94.4 Million. This IP valuation was based purely on the immediate US-office building market. Since 2015, Crown has continued to increase its patent and trade secret assets by innovating and developing technologies and unique processes.
About Crown Electrokinetics
Crown is a smart glass technology company and the creator of DynamicTint™ We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the core of our technology is a thin film that is powered by electrically charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio.
Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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