Edgehog Secures $1.25 Million in Seed Round Led by TandemLaunch
21 Jul, 2021, 09:45 ET
MONTREAL, July 21, 2021 /PRNewswire/ - Edgehog Advanced Technologies Inc., developer of the world's best nanotextured, omni-directional, anti-reflective glass, announces the first closing of $1.25 million of its $2.5 million Seed Capital raise. Combined with non-dilutive and non-repayable funding of $3.5 million, the capital supports the Company's $6 million project to scale up the size of its super-transmissive, self-cleaning solar glass and further develop and commercialize its proprietary technology. The seed funding round was led by TandemLaunch (Aerial, LANDR, SPORTLOGiQ), E8, and other angel investors. This equity financing comes as Edgehog scales to meet anticipated strong demand in the rapidly growing solar photovoltaic sector, including space solar modules. A second closing of the Seed Round of up to $1.25 million is expected to close within the next 60 days.
Coming out of startup foundry, TandemLaunch, and building on research originally developed in the United States' Energy Department's National Labs system, Edgehog's eluminar™ glass utilizes a unique approach to generate nano-sized textures which result in super-transmissive invisible glass and features a self-cleaning surface where water rolls off the surface.
Edgehog's is further developing and commercializing the world's best antireflective glass to enhance a solar panel's energy generation by up to 12%. "Hundreds of millions of dollars have been invested to improve efficiency of solar panels but very little has been done to increase the amount of light going into solar panels, until Edgehog" said Brad Gunn, Edgehog's CEO
Edgehog's CTO Calvin Cheng, commented "Our first product is being implemented in space solar modules, where there is enormous value for additional energy generation without adding extra weight. With the support of our investors, we're building upon our fundamental innovation by scaling up our glass for terrestrial solar panels."
"Edgehog continues to develop its revolutionary nanotextured glass for the fast-growing solar pv space and numerous other applications," said Helge Seetzen, general partner at TandemLaunch. "What the Edgehog team has developed over the last two years is impressive and we're delighted to continue our support in the commercialization of their technology."
Founded in 2018, Edgehog Advanced Technologies Inc. is commercializing the world's best anti-reflection technology platform based on a decade of development in research institutions. Edgehog believes in the power of innovation to make a positive impact in the world.
SOURCE Edgehog Advanced Technologies Inc.
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