Chemical StartUps Series #13: Click Materials
Please introduce the value proposition of your company. How will your company disrupt or dramatically change how things are currently done?
Click Materials is developing a next-generation electrochromic window solution for the residential, commercial, and automotive markets that offer dramatic cost reductions, unique performance benefits, significant energy savings, and improves human wellness.
Our patented technology to make metal oxide thin films used in electrochromic windows relies on a novel spray coating approach that is 60% lower cost than current production methods. The process occurs at ambient conditions, uses manufacturing equipment readily available in the industry, has high production yields, and offers unique performance benefits that include faster switching times from the clear to the tinted state and the ability to apply coatings on curved surfaces and various types of materials. This will expand electrochromic capabilities for a large array of use cases.
Electrochromic glass at an affordable price point is a massive unmet need. Heating, lighting, ventilating, and air conditioning in buildings account for up to 40% of global primary energy consumption, and up to half of this energy can be lost through windows. Electrochromic windows intelligently modulate incoming solar heat and light, thus reducing overall energy consumption, costs, and greenhouse gas emissions. We project that our technology will provide buildings a 20-30% energy reduction depending on the specific geographic region.
Additionally, recent studies have shown that smart windows have a dramatic impact on the well-being of employees. Workers feel more relaxed, energized, productive, and have a better mood. All of these benefits will allow landlords higher revenues through increased occupancy, rent costs, and tenant satisfaction.
Who are your customers and how large is the addressable market for your products/services?
Click is an early-stage company in the process of establishing strategic partnerships in an effort to accelerate the path to market. Click is interested in developing the technology with companies currently operating in the windows and glass value chain, which could include float glass manufacturers, insulated glass manufacturers, original equipment manufacturers that make branded window products, or major automotive suppliers.
Our addressable market spans both the materials and technology sectors. The coated glass market is currently $25B+ per year, and smart products for the home are expected to be a $90B market by 2023. Today, the market for electrochromic windows is limited to the high-end commercial real estate sector. Market penetration is severely limited because the traditional manufacturing process is capital intensive with low yields, thus driving up product costs. Click’s disruptive production process has the potential to be a major breakthrough in window technology, similar to when low emissivity glass was first launched in the early 1980’s.
How scalable do you believe your company is?
Click Materials uses a novel spray-coating technology with industry-standard equipment that is compatible with large form factors. The team recently completed initial pilot scale tests using continuous equipment on 2’ x 5’ windows to validate the technology. These results position Click to be among the first companies capable of addressing multibillion markets that are not currently being addressed.
Can you summarize the journey of your company up to this point?
Click Materials is an advanced materials university spin-off based in Vancouver, BC. Our cutting-edge smart window technology builds on 10+ years of academic and industrial research on advanced thin films. The company was founded in 2012 with an initial focus on chemical applications and has experienced rapid growth in 2019 by focusing on electrochromic windows.
We recently closed a $1.5M Seed round of financing, validated the technology on pilot plant equipment, and has confirmed the disruptive economic savings of 60% with a third party. In 2019, the company was also named a finalist in the Creative Destruction Lab global accelerator program, ranked as a Top 100 Materials company by Plug N Play, and received a TechConnect Top Innovator award for a breakthrough solution.
What is pivotal for your success going forward?
In 2020, Click plans to design and build a fully integrated pilot line to validate the techno-economics and product quality on a continuous system. The operation of the pilot line is expected to provide a step-change in value for the company and a key building block towards a commercial facility with our initial partner.
Can you provide some KPIs that helps understand the size and growth of your company?
In June 2019, Click closed a $1.5M Seed round of financing to further optimize our prototypes, build out the team, and secure a joint development agreement with a major partner.
How can strategic partners from the chemical industry or financial investors contribute to your success?
We are looking to secure a Series A round of funding in early 2020 to build and operate a pilot plant. Additionally, our approach is a platform technology that generally applies to producing low cost thin film metal oxides on various substrates. It has potential applications in the chemicals, industrial gas, semiconductor, and related industries. While our focus is currently on electrochromic window applications, we are interested in speaking with strategic partners committed to finding alternative process technologies for making thin film metal oxides.
Who is the primary point of contact for investors and strategic partners?
- Mike Slowik, VP Business Development
- [email protected]
- www.clickmaterials.com
- www.dhirubhai.net/company/click-materials
Disclaimer: The sole responsibility for this content is with the company profiled.
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