Acting as a thermos bottle for buildings, LuxWall’s transparent insulation Net Zero Glass can cut energy consumption and carbon emissions by up to 45% and significantly reduce owner payback through energy cost savings
LuxWall, a startup producing Net Zero Glass technology, is announcing its $33 million Series A funding round. The round is led by 2150, with participation from Khosla Ventures and current investors Breakthrough Energy Ventures (BEV) and Prelude Ventures. Following LuxWall’s $6 million seed round in 2021, this brings the total funding raised to $39 million.
The latest funding will go toward scaling the production of their Net Zero Glass technology at ‘LuxWall Factory 1’, the company’s first purpose-built commercial factory, which is a scaling extension of LuxWall’s pilot production line commissioned in 2022.
According to the IEA, buildings account for 36% of global energy consumption and are responsible for 39% of global CO2 emissions. Windows represent the largest source of heat lost and gained with global energy cost impacts of $235 billion. Meanwhile, space cooling energy use is forecast to triple between 2016 and 2050, as single-glazed windows remain the dominant global format.
LuxWall’s product represents an important and timely leap forward in window technology. As impacts from climate change continue to increase global temperatures with 2022 being the 5th warmest year ever, LuxWall’s Net Zero Glass delivers a step change in insulation delivered in the dimensions of existing building needs.
LuxWall’s Net Zero Glass incorporates vacuum insulation technology to significantly reduce conduction, convection and radiative heat gain and energy loss in windows. Net Zero Glass delivers R-12+ thermal insulation versus R-3 to R-7 performance for current product offerings, thereby reducing both building carbon emissions and energy consumption by up to 45%. Due to the improved insulation performance, ability to retrofit/replace only the glass and reduced tenant disruption, Net Zero Glass slashes the owner’s payback period from 20 to 25 years to between 3 and 7 years. LuxWall’s strong channel economics can significantly increase the replacement rate of low-performing windows on a global basis.
LuxWall’s windows consist of two vacuum-insulated coated glass (VIG) panes and act much like a thermos bottle. Specifically designed for easy commercialization, LuxWall leverages advances in automotive, thin film solar and display manufacturing to increase production speed, improve quality and lower cost of goods sold. Reducing installation costs by up to 50% and producing a fraction of the standard levels of disruption, the Net Zero Glass can replace single pane glass without replacing the frame.
Scott Thomsen, CEO and Co-Founder of LuxWall, commented:
“This recent funding represents a significant milestone and we’re delighted to welcome the support from this team of investor titans from the climate and built environment world. Today is a huge step, validating our science-first principles that have produced a highly insulating and durable window product that can contribute to the major decarbonization challenge we are facing.”
Christian Jolck, Partner and Co-Founder, 2150, commented:
“Windows are an essential for human health and an underappreciated component of our daily life going back a thousand years. Yet, they can contribute significantly to averting gigatons of emissions. LuxWall’s Net Zero Glass presents an innovative solution worthy of the 21st century and we couldn’t be more excited to support Scott and his team with decades of industrial experience innovating the glass industry on this journey.”
About LuxWall Inc.
Located in Ypsilanti, MI, USA, LuxWall is focused on the product development, scaling and commercializing of innovative glass products and solutions for the built environment. LuxWall’s transparent insulation technology, Net Zero Glass, provides a step change in energy performance by significantly reducing convective, conductive and radiative heat gain and heat loss in buildings. Acting as a transparent thermos bottle for buildings, LuxWall has the potential to reduce global carbon emissions by more than 0.5 gigaton per year with mass adoption. Net Zero Glass will forever change the way buildings are designed and constructed for the future sustainability of our planet.
2150 is a venture capital firm investing in technology companies that seek to sustainably reimagine and reshape the urban environment. 2150’s investment thesis focuses on majorunsolved problems across what it calls the ‘Urban Stack’, which comprises every element ofthe built environment, from the way our cities are designed, constructed and powered, to theway people live, work and are cared for.