YPSILANTI, Mich.–(BUSINESS WIRE)–LuxWall, Inc., a provider of glass solutions designed to significantly reduce carbon emissions in the built environment, today announced completion of a company financing. Breakthrough Energy Ventures (BEV) and Prelude Ventures led the round with participation from Baruch Future Ventures.
Buildings consume 30% of the global energy draw and generate 30% of the global carbon emissions (approximately 13 gigatons CO2 annually). Founded by a team of leading glazing executives and scientists, LuxWall is developing a solution to help significantly reduce the world’s carbon emissions from new and existing buildings. Leveraging six (6) foundational U.S. patents, decades of know-how and strong foundational partnerships, the company will produce the LuxWall (R-12+) window. Compared with existing glazing technology, the replacement with LuxWall Net Zero Glass will reduce up to 48% of the energy used to condition the building.
“We have assembled a team of leading scientists and engineers in materials science, applied physics, and process engineering to develop the world’s most efficient glazing unit,” said Scott Thomsen, co-founder, LuxWall, Inc. “This team, aligned with our next-generation intellectual property, supports the development of a low-cost insulation product that enables broad market adoption.”
BEV is committed to funding companies that have the potential to significantly reduce carbon emissions around the world. LuxWall is directly addressing the global carbon problem in the construction industry, through the design, development, validation, and certification of a fully tempered product.
“Buildings are one of the largest contributors to carbon emissions globally, in large part because even state of the art windows allow a huge amount of energy loss,” said Carmichael Roberts, Breakthrough Energy Ventures. “LuxWall’s technology has the potential to change windows from big energy losers into net energy contributors and enable new architectural styles. The company has uniquely determined how to make a cost competitive solution with existing technologies, and their team is composed of some of the best talent in the glass industry. We are looking forward to working with them as they continue to develop their product.”
Tim Woodward, managing director at Prelude Ventures stated, “The experience on this team gives us confidence that LuxWall can overcome the challenges that have restrained market adoption.”
About LuxWall, Inc.
Located in Ypsilanti, MI, LuxWall is focused on R&D, product development and scaling of innovative glass products and solutions for the built environment. LuxWall technology provides a step change in energy performance and has the potential to reduce global carbon emissions by more than 0.5 gigaton per year with mass adoption. For more information visit www.luxwall.com.
About Breakthrough Energy Ventures
Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible. The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
About Prelude Ventures
Prelude Ventures is a venture capital firm dedicated to advancing the low-carbon economy. The firm invests in exceptional entrepreneurs across a range of sectors including advanced energy, food & agriculture, transportation and logistics, advanced materials and manufacturing, and advanced computing. Prelude Ventures was founded in 2013 and is based in San Francisco. Learn more at www.preludeventures.com.