Soladigm Raises $30M for Dynamic Glass

Soladigm, a developer of energy-efficient dynamic glass for buildings, has secured $30 million in Series C equity financing.

Soladigm’s window technology electronically switches glass from clear to tinted, enabling control of heat and glare. It can reduce HVAC energy usages by 25% and peak load by 30% in commercial buildings, Soladigm says.

Combined with previously announced Mississippi state manufacturing financing and other arrangements, the funding will allow Soladigm to build and launch high-volume commercial operations and develop sales and marketing channels. The Mississippi manufacturing facility is expected to create more than 300 cleantech jobs.

The Series C equity funding, led by DBL Investors and Nano Dimension, includes GE (NYSE:GE) unit GE Energy Financial Services as well as existing investors Khosla Ventures and Sigma Partners. Concurrent with the financing, Cynthia Ringo, Managing Partner at DBL Investors, joined Soladigm’s Board of Directors.

Last month, GE selected Soladigm as one of 12 business partners for investment and commercial partnerships through its $200 million ecomagination Challenge. The funding from that award is part of the Series C announcement.

“With GE’s green homes and green hospitals programs, our zero energy home program and other smart grid and energy efficiency initiatives, we see multiple avenues for collaboration with Soladigm’s Dynamic Glass technology,” said Kevin Skillern, managing director of venture capital at GE Energy Financial Services.

Soladigms primary U.S. competitor is Sage Electrochromics, which has joined with Saint-Gobain to produce dynamic glass in Minnesota.