MOSCOW (MRC) -- SKC Ltd., a South Korean chemicals maker, is set to invest as much as USD70 million in Halio Inc., a US smart glass technology company, to expand the energy-saving solution business, said Kedglobal.
SKC said its board of directors on Tuesday decided on the investment plan with aims to foster the energy-saving solution based on smart windows as one of the company’s core eco-friendly businesses along with biodegradable materials, which reduce plastic waste.
“The investment, in addition to the technology we have developed so far, is expected to allow us to further advance our smart window business,” said an official of SKC, a unit of S
outh Korea’s second-largest conglomerate SK Group.
Smart glass controls the reflective properties of glasses with electrochromics to control the amount of light and heat passing through building windows. The color of glass darkens in hot weather to improve the cooling efficiency of buildings, while it becomes transparent in cold weather to enhance heating efficiency. Its appearance is similar to ordinary glass, but it made with technology using similar materials to that in battery production.
We remind, Russian government has approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels as well as diesel with high content of sulfur. It also lifted restrictions on the export of fuel already accepted for export by the Russian Railways and Transneft before the initial ban had been announced last week. The ban on all types of gasoline and high-quality diesel remains in place.