SolarWindow Technologies (OTC: WNDW) is a pre-revenue solar technology company developing transparent electricity-generating coatings for application to glass and flexible plastic surfaces. The company has generated no product revenue as of the fiscal year ended August 31, 2025, and funds operations through equity offerings and other capital-raising activities. SolarWindow's core technology, branded LiquidElectricity® Coatings, consists of ultra-thin organic photovoltaic layers applied to rigid glass, flexible glass, and plastic substrates, targeting end markets including architectural glazing, automotive, aerospace, commercial transportation, marine, and agrivoltaic applications. Total operating expenses were $2.36M for the year ended August 31, 2025, down 10% from $2.61M in FY2024, split between selling, general and administrative costs of $1.73M and research and development of $622K. Net cash used in operating activities was $1.50M in FY2025. The company was incorporated in Nevada and has a cooperative research relationship with the National Renewable Energy Laboratories dating to March 2011.

Revenue model

SolarWindow generates no product revenue as of August 31, 2025. Operations are funded through public and private equity offerings, with $3.85M in net cash provided by financing activities in FY2025. The intended commercial model involves licensing, strategic partnerships, and product sales, but no such agreements are in place as of the filing date.

Products and services

LiquidElectricity® Coatings: ultra-thin transparent organic photovoltaic coatings applied to rigid glass, flexible glass, and plastic substrates that generate electricity from natural sunlight, artificial light, and low or reflected light conditions. The coating stack includes hole transport layers, active layers, electron transport layers, and conductive contact points. Field testing as of the 10-K filed November 13, 2025 includes successful autoclave lamination processing and more than 200 freeze/thaw cycles on glass panes.

Customers and end markets

No commercial customers as of August 31, 2025. Target end markets include architectural buildings (commercial tower windows, curtain walls, glass walls), automotive (light and commercial trucks, recreational vehicles), aerospace and defense, marine, and agrivoltaics (agricultural greenhouses).

Value-chain role

Early-stage technology developer. SolarWindow conducts internal research and development and holds a Cooperative Research and Development Agreement with the Alliance for Sustainable Energy, operator of the National Renewable Energy Laboratories, originally entered March 18, 2011. The company intends to commercialize through licensing, strategic partnerships, or direct product sales but has no active commercialization agreements as of the filing.

Geographic exposure

Incorporated and operating in the United States. Materials sourced from the United States and China as noted in the 10-K filed November 13, 2025. The company was also subject to a British Columbia Securities Commission Cease Trade Order from January 10, 2023, which was revoked effective May 7, 2025.

Source: SEC 10-K, filed 2025-11-13

Industry: Industrial Organic Chemicals Peers: NVIDIA Corp Ascent Solar Technologies Inc Everspin Technologies Inc GSI Technology Inc Kopin Corp Pixelworks Inc NVE Corp Transphorm, Inc. Rigetti Computing Inc Quicklogic Corp