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Former LG Executives to Lead SolarWindow Manufacturing; New Majority Shareholder Appointed Chairman & CEO

Dr. In Jae Chung, Chief Know-how Officer, SolarWindow Applied sciences, Inc.

Dr. In Jae Chung, Chief Know-how Officer, SolarWindow Applied sciences, Inc.

Dr. In Jae Chung, Chief Know-how Officer, SolarWindow Applied sciences, Inc.

SCOTTSDALE, Ariz. and SEOUL, South Korea, Jan. 24, 2022 (GLOBE NEWSWIRE) — SolarWindow Applied sciences, Inc. (Image: WNDW), at the moment introduced that Mr. John Rhee has been elected to function its Chairman of the Board of Administrators and Chief Government Officer, along with his present position as President of SolarWindow. Mr. Rhee additionally serves as Managing Director of Gentle Quantum Vitality Holdings, an organization owned by Mr. Rhee and his speedy household, which final month acquired practically 72% of SolarWindow shares on a completely diluted foundation. Mr. Rhee’s first motion as SolarWindow CEO is the appointment of former senior executives at LG Gasoline Cells, LG Show, and LG Electronics, to guide SolarWindow into manufacturing.

“Immediately, SolarWindow strengthens our place with the management of Dr. Chung and Mr. Kim, who at LG pioneered manufacturing strategies, engineered state-of-the-art manufacturing strains, and collectively oversaw 50,000 staff to provide over $30 billion in expertise merchandise,” defined Mr. John Rhee, SolarWindow Chairman & CEO.

Manufacturing Electrical energy-Producing Plastics & Glass by SolarWindow

Promoted to SolarWindow Chief Know-how Officer, Dr. In Jae Chung is a C-level govt with 30 years of multinational expertise in mental property, new product growth and manufacturing, gross sales and advertising and marketing, and business partnerships.

Previous to SolarWindow, Dr. Chung was Chief Government Officer at LG Gasoline Cell Programs, and Chief Know-how Officer at LG Show, a enterprise unit reporting over $20 billion in annual gross sales and supported by greater than 15,000 patents.

Dr. Chung holds greater than 160 patents with practically 300 functions in-process. He has authored over 130 scientific journal articles and e book chapters, and is recipient of quite a few awards for excellent technical accomplishments from the Society for Data Show, and South Korea’s Nationwide Academy of Engineering and its Protection Trade Affiliation.

Dr. Chung is an completed engineer with deep technical know-how of renewable vitality merchandise and the formulation and commercial-scale software of complicated chemistries on to glass and plastics. All through his profession, he has been extensively revered as an award-winning innovator.

Mr. Chulwoo Kim has been appointed to International Director, Know-how and Product Innovation; a place beforehand held by Dr. Chung. Mr. Kim previously served as Vice President at LG Electronics and Vice President LG Show, the place throughout his tenure he oversaw over 20,000 staff and $10 billion in manufacturing quantity for complicated manufacturing of choose shopper expertise merchandise.

Mr. Kim is an skilled, hands-on operations chief who he constantly exceeded manufacturing targets and outperformed price range objectives at LG Electronics and LG Show by engineering and implementing manufacturing efficiencies, together with Excessive Stage Meeting Manufacturing Options.

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All through his profession, Mr. Kim has repeatedly leveraged his distinctive and multi-faceted background in R&D, pilot-line engineering, manufacturing line administration, new enterprise growth, lead course of innovation, provide chain administration, and knowledge programs, to assist multi-billion-dollar enterprises scale and develop rapidly.

SolarWindow Majority Shareholder Appointed as Chairman & CEO

Mr. John Rhee beforehand served because the Firm’s President and Director and now moreover assumes roles of Chairman of the Board of Administrators and Chief Government Officer. Final month, by way of Gentle Quantum Vitality Holdings, Mr. Rhee and his speedy household acquired practically 72% of shares of SolarWindow (on a completely diluted foundation) to turn into the bulk homeowners of the Firm.

Mr. Rhee serves on the Funding Committee of the Barbara Bush Basis, and previously served as Chief Monetary Officer of the Nobel Sustainability Belief. Beforehand, Mr. Rhee was Government Director at SoftBank, served as a senior advisor to the Authorities of South Korea, and at the moment is a worldwide sustainability investor-advocate with a historical past of philanthropy.

Mr. Rhee was lawyer with Davis Polk and Wardwell in New York, a number one company legislation agency specializing in capital markets, and earlier, clerked for the White Home Authorized Counsel’s Workplace. Mr. Rhee has a J.D. from Yale Legislation College the place he was distinguished as a John M. Olin Legislation and Economics Scholar, and holds a bachelor’s diploma from Cornell College.

Throughout his earlier tenure as President of SolarWindow, Mr. Rhee constructed SolarWindow operations in South Korea, strengthened and expanded the administration staff, launched LiquidElectricity™ to strategic multinational companies, and enabled necessary expertise developments.

Making approach for Mr. Rhee, the Firm’s former Chairman and Chief Government Officer, Mr. Jatinder S. Bhogal exits SolarWindow to proceed his work in disruptive applied sciences and new enterprise growth. Mr. Bhogal continues to help SolarWindow as an advisor.

“Mr. Bhogal has performed an necessary position at SolarWindow for greater than a decade, figuring out, creating, and securing expertise, elevating capital, and attracting top-tier expertise. We’re grateful for his many contributions and want Mr. Bhogal a lot continued success as SolarWindow embarks upon our subsequent phases of progress and enlargement,” acknowledged Mr. Rhee, SolarWindow President, CEO, and Chairman.

Cautionary Assertion: Buyers are cautioned that the transaction referenced on this announcement contains, amongst different phrases and situations: (a) Deferred cost obligations of Gentle Quantum Vitality Holdings (the “Purchaser”) to Kalen Capital Company and its related subsidiaries (the “Vendor”); (b) Monetary penalties payable by the Purchaser to the Vendor below sure situations; (c) Working covenants imposed on the Purchaser by the Vendor till such time that every one cost obligations of the Purchaser are glad; (d) Obligations of the Purchaser to return all securities to the Vendor within the occasion that the Purchaser is unable to fulfill cost obligations to the Vendor; and (e) Others. There is no such thing as a assurance that the Purchaser will fulfill deferred cost obligations to the Vendor. Mr. John Rhee serves as Managing Director of Gentle Quantum Vitality Holdings, an organization owned by Mr. Rhee and his speedy household. Particulars of the transaction, together with deferred cost provisions, working covenants, and default treatments are offered within the Firm’s 8-Okay filed on December 14, 2021, obtainable at SEC.gov and at www.SolarWindow.com.

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About SolarWindow Applied sciences, Inc.
SolarWindow Applied sciences, Inc. (Image: WNDW; www.solarwindow.com) is a developer of clear LiquidElectricity™ coatings and processes which generate electrical energy on glass and plastics. When utilized to in any other case extraordinary glass, for instance, these coatings generate electrical energy, producing energy below pure, synthetic, low, shaded, and mirrored gentle situations.

The topic of over 116 granted and in-process trademark and patent filings, SolarWindow targets functions past standard photo voltaic panels. The Firm’s LiquidElectricity™ can generate electrical energy for architectural functions together with constructing home windows, facades, and rooftops. LiquidElectricity™ has wide-ranging utility, together with automotive, business greenhouse, marine, and aerospace functions, and presents superior aesthetics for producing vitality to allow quicker monetary breakeven.

The SolarWindow Promise: Engineer, design, and in the end manufacture and ship LiquidElectricity™ merchandise which reward clients with inexpensive clear vitality for a more healthy, safer, and extra sustainable planet. SolarWindow is ClearlyElectric®.

For extra data, please name Amit Singh at 1-800-213-0689 or go to:
www.solarwindow.com.

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To view the total HTML textual content of this launch, please go to:
http://solarwindow.com/media/news-events/.

Social Media Disclaimer and Ahead-Trying Statements
SolarWindow buyers and others ought to word that we announce materials data to the general public in regards to the Firm by way of a wide range of means, together with our web site (https://www.solarwindow.com/buyers), by way of press releases, SEC filings, public convention calls, through our company Twitter account (@solartechwindow), Fb web page (https://www.fb.com/SolarWindowTechnologies) and LinkedIn web page (https://www.linkedin.com/firm/solar-window-technology/) as a way to obtain broad, non-exclusionary distribution of knowledge to the general public and to adjust to our disclosure obligations below Regulation FD. We encourage our buyers and others to observe and assessment the knowledge we make public in these places as such data may very well be deemed to be materials data. Please word that this listing could also be up to date on occasion.

No assertion herein ought to be thought-about a proposal or a solicitation of a proposal for the acquisition or sale of any securities. This launch accommodates forward-looking statements which might be based mostly upon present expectations or beliefs, in addition to a lot of assumptions about future occasions. Though SolarWindow Applied sciences, Inc. (the “firm” or “SolarWindow Applied sciences”) believes that the expectations mirrored within the forward-looking statements and the assumptions upon which they’re based mostly are cheap, it may give no assurance that such expectations and assumptions will show to have been appropriate. Ahead-looking statements, which contain assumptions and describe our future plans, methods, and expectations, are usually identifiable by use of the phrases “might,” “will,” “ought to,” “may,” “count on,” “anticipate,” “estimate,” “consider,” “our objectives,” “our mission,” “intend,” or “venture” or the detrimental of those phrases or different variations on these phrases or comparable terminology. The reader is cautioned to not put undue reliance on these forward-looking statements, as these statements are topic to quite a few components and uncertainties, together with however not restricted to antagonistic financial situations, intense competitors, lack of significant analysis outcomes, entry of latest opponents and merchandise, antagonistic federal, state and native authorities regulation, insufficient capital, sudden prices and working deficits, will increase on the whole and administrative prices, termination of contracts or agreements, technological obsolescence of the corporate’s merchandise, technical issues with the corporate’s analysis and merchandise, worth will increase for provides and parts, litigation and administrative proceedings involving the corporate, the attainable acquisition of latest companies or applied sciences that lead to working losses or that don’t carry out as anticipated, unanticipated losses, the attainable fluctuation and volatility of the corporate’s working outcomes, monetary situation and inventory worth, losses incurred in litigating and settling instances, dilution within the firm’s possession of its enterprise, antagonistic publicity and information protection, incapability to hold out analysis, growth and commercialization plans, loss or retirement of key executives and analysis scientists, modifications in rates of interest, inflationary components, and different particular dangers. There might be no assurance that additional analysis and growth will validate and help the outcomes of our preliminary analysis and research. Additional, there might be no assurance that the mandatory regulatory approvals can be obtained or that SolarWindow Applied sciences, Inc. will have the ability to develop commercially viable merchandise on the idea of its applied sciences. As well as, different components that might trigger precise outcomes to vary materially are mentioned within the firm’s most up-to-date Type 10-Q and Type 10-Okay filings with the Securities and Change Fee. These stories and filings could also be inspected and copied on the Public Reference Room maintained by the U.S. Securities & Change Fee at 100 F Road, N.E., Washington, D.C. 20549. You may acquire details about operation of the Public Reference Room by calling the U.S. Securities & Change Fee at 1-800-SEC-0330. The U.S. Securities & Change Fee additionally maintains an Web website that accommodates stories, proxy and knowledge statements, and different data concerning issuers that file electronically with the U.S. Securities & Change Fee at http://www.sec.gov. The corporate undertakes no obligation to publicly launch the outcomes of any revisions to those forward-looking statements which may be made to replicate the occasions or circumstances after the date hereof or to replicate the prevalence of unanticipated occasions.

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A photograph accompanying this announcement is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/81202827-d2ca-4272-a71c-2aba487f118d

The picture can also be obtainable at Newscom, www.newscom.com, and through AP PhotoExpress.

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