BOULDER, Colo., Oct. 13, 2021 /PRNewswire/ -- Tynt Technologies, Inc. (Tynt), a Colorado-based dynamic window company that's engineering the first ever blackout dynamic window, announced it has secured $8.5 million in funds through a combination of private financing and federal grants.
With the climate crisis looming large, the Department of Energy has identified dynamic windows as an area of interest with the potential to reduce US greenhouse gas emissions by up to 4% annually. Several companies have worked on dynamic window technologies for decades; however, their high cost, poor color, and lack of privacy in the tinted state have stifled adoption, especially in the residential sector. Tynt, the brainchild of CU Boulder Professor Mike McGehee and former Halio Chief Engineer, Ameen K. Saafir, is setting out to disrupt residential windows with a revolutionary technology that will give homeowners the ability to black out their windows in a matter of seconds, leading to increased comfort and energy efficiency while maintaining a clean and modern look at an affordable cost.
Ameen, Tynt's co-founder and CEO, is leading the team to new heights, driving development, and scaling up reversible metal electrodeposition (RME) technology. According to Ameen, "Teaming up with my former graduate school advisor to commercialize Tynt's unique technology was a no-brainer. By leveraging RME we can provide truly neutral color and full privacy at incredibly low cost, while meeting personal design standards for homes and having a positive impact on the environment. We are also thrilled to bring on climate-sector investors who are fully aligned with our main goals of sustainability and universal accessibility".
Professor McGehee, co-founder and Chief Scientist, added: "Five years ago, my university research group and I noticed that nearly everyone pursuing dynamic windows were using essentially the same materials, and thus subject to the same limitations. We started from scratch, and RME proved to be more successful than we could have imagined. We found that we could make color neutral windows with a much better range of light transmission and knew that our low temperature solution-based process had potential to dramatically reduce costs. Because he has nearly a decade of dynamic window experience, I called Ameen to get his perspective on our approach. When he saw our technology in person he committed on the spot".
On the heels of a $1.5 million Angel Round, Tynt raised an additional $5.5 million in Seed Financing, co-led by Prime Impact Fund and Starlight Ventures, with participation from Kompas Ventures. The Seed Round closed in August 2021, and resulted in Dr. Johanna Wolfson, co-founder and Principal at Prime Impact Fund, joining Tynt's Board of Directors. McDermott Will & Emery represented Tynt in these transactions as an inaugural McDermott Rise member, a program launched in 2020 providing a set of free legal and business services to 20 entrepreneurs of color each year to help fuel the success of their business endeavors.
The United States Department of Energy also awarded Tynt $1.5 million under the Buildings Energy Efficiency Frontiers & Innovation Technologies (BENEFIT) grant. The program awarded funds to 44 projects nationwide "that will lower Americans' energy bills by investing in new energy-efficient building technologies, construction practices, and the U.S. buildings-sector workforce." Read the announcement here.
These financial resources will enable Tynt to deliver the first blackout dynamic windows in the very near future.
Also joining Tynt from Professor McGehee's research group are co-founders Dr. Michael Strand and Dr. Tyler Hernandez. John Dwyer, former VP of Advanced Products at Katerra, joins as Chief Operating Officer and Chief Product Officer. Taylor Aviles, formerly of Halio corporate marketing, completes the founding team.
About Tynt Technologies, Inc.
Tynt Technologies, Inc. was founded in 2020 with the mission to optimize human health and comfort in the home by intuitively controlling daylight and privacy with dynamic windows, focusing on neutral color, energy savings, complete privacy, and affordable cost. Tynt's Vision is to change the traditional perception that windows are just commodity building products providing openings to the outdoors. With dynamic windows we are taking steps towards creating living, connected homes that coexist with the natural environment, leading us toward a sustainable future. We will optimize human health and comfort, while reducing overall energy consumption and lowering carbon emissions, without sacrificing privacy, convenience, and beauty.
View original content to download multimedia:https://www.prnewswire.com/news-releases/tynt-technologies-secures-8-5-million-in-seed-funding-for-groundbreaking-technology-behind-blackout-dynamic-windows-301398942.html
SOURCE Tynt Technologies, Inc.