Corning Collaborates With View Inc. To Target Dynamic Glass Market

by Trefis Team
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    Quick Take 

  • Corning recently invested in a dynamic glass company – View Inc., which manufactures exterior window glass than can transition between clear and tint based on user input.
  • Corning plans to further develop View’s dynamic glass and help it scale up manufacturing capacity to capture the growing exterior window glass market.

Corning (NYSE:GLW) announced Tuesday that it invested in View, a manufacturer of dynamic glass for exterior window application. View manufactures a dynamic glass that allows sunlight to come in on an otherwise cold day to keep a building warm, and turns dark on a warm, sunny day to keep the building cool. Corning estimates that usage of this glass in a commercial building lowers lighting and heating, ventilation and air-conditioning (HVAC) energy consumption by around 20%, and peak HVAC consumption by 25%. [1]

Corning leads the investment worth $62 million in a series E round of funding in View. [2] Rao Mulpuri, CEO of View Inc. said that since 2006 View had received $182.5 million in equity funding. [3]

We currently have a stock price estimate of $14.26 for Corning, approximately in line with its current market price.

See our complete analysis of Corning here

Corning Sees Growth Opportunity In The Outdoor Window Glass Market

Corning sees a large market opportunity with this dynamic glass coming in to the mainstream as an outdoor window glass. Rao Mulpuri said that even if 10% of the world’s windows transition to dynamic glass then this market would be worth about $100 billion. [3] Thus, the potential opportunity is huge.

Corning anticipates to further develop the dynamic glass using View’s technology and its own fusion manufacturing process. The series E round of investment is also aimed at helping View scale up its manufacturing capacity to meet the growing demand for dynamic glass. Currently, View supplies dynamic glass from its plant at Olive Branch, Mississippi.

View Has Competition In The Dynamic Glass Market

However, View also has competition that is racing to address this market opportunity. SAGE Electrochromics is one such company that also manufactures dynamic glass. SAGE has received $80 million in funding from the France-based glass manufacturer, Saint-Gobain, and it supplies this glass from its plant at Faribault, Minnesota. [2]

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Notes:
  1. Corning and View announce strategic collaboration to advance dynamic glass technology, June 18 2013, www.corning.com []
  2. Corning leads $62 million investment in smart glass maker View, June 19 2013, www.optics.org [] []
  3. Corning ‘View’ing the world through a glass pane, June 20 2013, www.gdpinsider.com [] []
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