The following was provided while participating in the 2023 Destination Startup® Showcase.
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What We Do
We are commercializing the next generation of dynamic windows to improve the comfort and energy efficiency of homes.
Affiliated Institution: University of Colorado Boulder
Have we formed a company? Yes
Funding: Grant Funding, Direct/Indirect University Support, Angel Funding (including Self or Friends/Family), Venture Capital
Our Company and the Problem We Are Trying To Solve
Dynamic windows with adjustable tint allow electronic control of the flow of light and heat and offer enormous potential for reducing energy use in buildings. According to Department of Energy, up to 5% of annual US energy use (the equivalent of 300 million metric tons of CO2 emissions) will be saved if buildings switched to dynamic, highly-insulating windows. They could also help mitigate and adapt to climate change by making the electrical grid more resilient by preventing overheating of buildings through west-facing windows at a time when the amount of electricity available from solar cells for air conditioning is winding down. Dynamic windows also address problems with glare and comfort that plague conventional windows and help occupants maximize natural daylighting that not only reduces electricity use for artificial lighting, but also keeps people happy, healthy, and productive. Tynt is currently working to scale up our technology from lab scale to deliver our first product, which will be a 3ft x 4ft skylight delivered together with our commercial partner. We have an R&D facility located in Boulder, and are currently looking to expand into a small scale manufacturing facility, which we also anticipate to be in Boulder County and will create an additional 40-50 jobs. To date, we have filed four patents through Stanford University and University of Colorado - Boulder, that cover different technical aspects of our technology with the overall focus being on the materials selection for enhanced durability.
Our Go-to-Market Strategy
We are targeting the Residential Window Market. The main competitors in the residential window industry are Marvin, Pella, and Anderson windows. However, they do not provide any dynamic, smart tinting, window technologies and only provide windows with traditional static lighting controls such as blinds and shades. Thus, they are not major competitors to Tynt for dynamic, smart tinting, approaches. The main competitors in the dynamic, smart tinting, window industry are View, Sage Glass, and Halio. The dynamic window technology currently being developed at Tynt Technologies is the first known smart, tinting, window technology that meets the performance metrics required to penetrate the residential market, which include color neutral, fast tinting with the ability to get dark enough for a full "blackout" state for privacy and sleeping. Since all currently pursued dynamic window companies rely on technical approaches that limit them to the commercial market, the residential fenestration market has not seen any dynamic window technologies to date. Tynt has already positioned itself in a very well-suited situation by strategically partnering with a leading $4B residential skylight company. Thus, Tynt will successfully scale its technology by initially targeting the residential skylight market, making a name for itself as the leading company for dynamic, smart tinting, windows. From there, Tynt will be able to penetrate the entire residential fenestration market and then into other markets demanding dynamic, smart tinting, windows, which include the commercial, automotive, aircraft, and wearables markets.
How We Will Generate Revenue
We have a JDA and commercial agreement with Velux to launch premium skylights in 2024. At projected Pilot Line pricing, we expect $40M in Revenue. We are currently negotiating the first PO – Targeting $10M+. We are working with Alpen to create an aftermarket insert for existing windows to hit the market sooner in 2023. We also have 4 strategic partnerships initiated. At scale, we will develop and sell a complete Tynt window solution for new construction and retrofit.
How We Will Benefit From Destination Startup®
We are looking to start raising funds for a $20M Series A. Currently seeking a lead for $7M, with $10M Committed. Series A will get our pilot line up and allow us to hire enough manpower to run the line and deliver our first product to market in 2024.
Our Team
Ameen Saafir - CEO, former Chief Engineer of Halio, one of the leading manufacturers of electrochromic glass. He spent 8 years there and led the process scale-up from lab size to 5’x10' windows, designing and leading the company’s first manufacturing process in Taiwan. John Dwyer - COO, John brings a unique perspective to Tynt because of his diverse background in applying new technologies within product design, operations, and strategic partners to deliver innovative manufactured solutions to various markets. Mike McGehee - Chief Scientist, Mike is a professor in the Chemical and Biological Engineering Department at the University of Colorado Boulder. His research group has spun out 12 companies and he has extensive experience transitioning academic research projects into commerciale products. Tyler Hernandez - Director of Device Development, Tyler has a PhD in Chemistry from Stanford University under Mike McGehee and has extensive knowledge of the device's underlying mechanism and materials components. Michael Strand - Director of Process Development, Michael has a PhD in Materials Science and Engineering from Stanford University under Mike McGehee and is well versed in the device's scalability and the processes involved. Taylor Aviles - Director of Business Operations, Taylor leads the company's non-technical efforts and has extensive experience in sales and marketing across several different industries including dynamic, smart tinting, and windows. JDA and commercial agreement with Velux to launch premium skylights in 2024. Working with Alpen to create an aftermarket insert for existing windows to hit the market sooner. We have 4 strategic partnerships initiated.