Corning and View Announce Strategic Collaboration to Advance Dynamic Glass Technology
18 Giugno 2013 - 1:30PM
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CORNING, N.Y. and MILPITAS,
Calif., June 18, 2013 - Corning Incorporated (NYSE:
GLW) and View Inc., today announced a strategic development
agreement to leverage their combined capabilities to advance View's
market-leading dynamic glass. Corning is leading a financial
investment in View as part of a Series E round of funding to
support the development of dynamic glass technologies for exterior
architectural applications. Dr. Jeffrey W. Evenson, Corning's
senior vice president and operations chief of staff, will serve on
View's board of directors.
Representing a major innovation in architectural
windows, View Dynamic Glass intelligently regulates the amount of
heat and glare that enters a building. Dynamic glass automatically
transitions between clear and variable tint in response to
environmental conditions and user preferences. Occupants benefit
from uninterrupted views, abundant natural light, and greatly
improved thermal comfort, while building architects enjoy expanded
design freedom. In a typical commercial installation, annual HVAC
and lighting energy consumption is reduced by 20 percent while HVAC
peak load is reduced by 25 percent.
"We're excited to collaborate with View," said
Martin J. Curran, executive vice president and innovation officer
for Corning Incorporated. "While dynamic glass has been in
development for decades, we believe View's unique approach will
finally bring this technology into the mainstream. We believe the
precise surface attainable through our fusion glass process,
combined with View's leading expertise in dynamic glass technology
will help us develop an innovative glass that can make dynamic
windows a bigger part of exterior architectural applications.
Additionally, our investment in View enables us to help further
commercialize an innovative technology shown in our 'A Day Made of
Glass' video series."
Since the first large-scale commercialization of
dynamic glass in 2012, View has been shipping dynamic glass from
its manufacturing operations in Olive Branch, Miss. at a rapidly
accelerating pace. This new infusion of funding and collaboration
with Corning will help the company further scale its operations to
meet accelerating demand, as well as continue to develop and
advance dynamic glass technology.
"We're thrilled and honored to be collaborating
with Corning, a world leader in glass for high-technology and
high-value added applications. Corning's global presence, operating
expertise, and technology resources will help us tremendously in
advancing our offerings," said Dr. Rao Mulpuri, CEO of View. "This
relationship is significant not only because of the investment
Corning is making in the success of View and dynamic
glass, but also because of the
benefits of shared brain trust and the potential to significantly
advance the capabilities of both companies."
Forward-Looking and
Cautionary Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
About
View
View Inc. is the pioneer in large-scale architectural dynamic
glass. The company designs, manufactures, and sells a new
generation of architectural dynamic glass that intelligently
adjusts in response to external conditions and user preferences,
enabling unparalleled control over the amount of light and heat
that enters a building. View Dynamic Glass provides continuously
unobstructed views without heat or glare, creating a new level of
occupant comfort and natural light while dramatically reducing
building energy consumption. It also provides unprecedented
architectural design freedom, eliminating blinds and shading
structures and enabling building designs with larger glass areas.
View is headquartered in Milpitas, Calif., with state-of-the-art
high-volume manufacturing facilities in Olive Branch, Miss. For
more information please visit viewglass.com.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 160 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy, and metrology.
Media Relations Contact -
Corning:
Pamela W. Porter
607-974-9980
porterpw@corning.com
Media Relations Contact -
View:
Alejandro Grau
310-280-2215
alejandro.grau@ogilvy.com
Investor Relations Contact -
Corning:
Ann H. S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Corning Incorporated via Thomson Reuters ONE
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