Crown Electrokinetics Corp. is a company developing electrokinetic smart window technology, with business divisions in smart windows, fiber optics, and water solutions, aiming to provide energy-efficient and sustainable infrastructure solutions.

# Company Overview - Crown Electrokinetics Corp.

## Business Segments
- **Smart Windows Division**
  - Develops electrokinetic ("EK") technology called **DynamicTint™** for smart glass applications.
  - Focuses on energy efficiency, environmental sustainability, and occupant comfort.
  - Products include **Smart Window Inserts** that retrofit existing windows; can be powered by solar and battery, and controlled wirelessly.
  - The technology involves nanometer-sized charged pigment particles suspended between clear PET substrates, switching from transparent to dark states in seconds with low voltage.
  - Initial product rollout planned for 2025, targeting commercial building retrofit markets in major U.S. cities.
  - Market opportunity involves upgrading existing single-pane to dual-pane windows, reducing HVAC energy consumption (up to 26%), and supporting sustainability efforts.

- **Fiber Optics Division**
  - Specializes in designing and constructing fiber optic networks connecting rural and urban communities.
  - Provides services such as splicing, trenching, pole and conduit installation, micro-trenching, and network engineering.
  - Acquired assets of Amerigen 7 LLC in January 2023.
  - Focuses on expanding broadband infrastructure driven by increased demand for high-capacity fiber networks and federal initiatives like the FCC’s Rural Digital Opportunity Fund.
  - Leadership includes industry veterans with experience in underground utility infrastructure.

- **Water Solutions Division**
  - Focuses on water management innovations, including:
    - **Slant Well Technology**: Proprietary design for ocean water intake for desalination plants, providing sustainable, environmentally friendly water sourcing.
    - **Element 82** subsidiary: Specializes in lead pipe detection and remediation using Electro Scan’s technology.
  - Addresses global water scarcity issues, with active projects in regions like Cabo San Lucas, Mexico.
  - The division aims to modernize critical water infrastructure in response to water shortages and regulatory mandates.

## Business Strategy
- Commercialize EK ("DynamicTint™") technology through manufacturing and selling **Smart Window Inserts**.
- Expand markets to residential, automotive, and international markets.
- Leverage strategic partnerships and customer relationships, including agreements with MetroSpaces Inc., Hudson Pacific Properties, and Brandywine.
- Address significant market opportunities driven by energy savings, regulatory changes, and sustainability trends.

## Employees & Revenue
- **Employees**: 65 full-time employees total
  - 14 in Smart Windows division
  - 9 in Fiber Optics and Slant Wells
  - 32 in Element 82
  - 9 in corporate/finance/administration
- **Revenue**:
  - **2024**: $19.7 million
  - **2023**: $0.2 million
- **Net Loss**:
  - **2024**: $25.9 million
  - **2023**: $29.0 million

## Additional Financial & Operational Details
- The company has experienced operating losses historically.
- As of December 31, 2024, it had:
  - **Cash**: $13.7 million
  - **Working capital**: $12.5 million
  - **Shareholders’ equity**: $22.2 million
  - **Total outstanding shares**: 1,737,954 as of March 28, 2025.
- Revenue largely generated from fiber optic and water infrastructure projects, including new contracts with large clients.
- The company also engages in various sales arrangements including at-the-market offerings and equity lines of credit.
- The company’s common stock is currently suspended from Nasdaq and quoted on OTC markets.

Crown Electrokinetics Corp. specializes in electrokinetic glass technology, offering innovative products like DynamicTint™ to enhance transparency and efficiency in glass design.

# Crown Electrokinetics Corp. Overview

## Company Mission and Focus
Crown Electrokinetics Corp. (Ticker: CRKN) specializes in developing and marketing innovative electrokinetic glass technology referred to as **DynamicTint™**. This technology allows for the electronic control of transparency in glass and other rigid substrates, varying from clear to dark within seconds.

## Key Products
### DynamicTint™ Technology
- **DynamicTint™ Electrokinetic Film**: This film can be embedded within glass or applied to surfaces like acrylic, providing features such as:
  - **Rapid Transition**: Switches between clear and dark in seconds.
  - **Energy Efficiency**: Helps in reducing energy costs related to heating and cooling, potentially resulting in up to 26% HVAC energy savings as per initial field tests.
  - **Sustainability**: Offers a sustainable alternative to traditional window blinds and tints.
  
#### Smart Window Insert
- This is the first EK product designed for retrofitting existing windows, transforming single-pane windows into dual-pane units, also providing insulation and noise reduction.

### Crown Fiber Optics
- Acquired in January 2023, this division focuses on building **5G fiber optic infrastructure**, providing comprehensive telecommunication services through a workforce of 25 employees, enhancing Crown’s position in high-growth market segments.

## Performance Metrics
### Financials (Year Ended December 31, 2023)
- **Total Revenue**: Approximately **$153,000**, attributed solely to the fiber optics operation.
- **Net Income/Loss**: Experienced a **net loss** of approximately **$29 million**.
  - This includes significant non-cash charges such as **stock-based compensation (~$12.8 million)**.
- **Cash Flow**: 
  - Net cash used in operating activities was **$16.2 million**.
  - Significant cash inflow from financing activities totaling **$19.2 million**.

### Employees
- **Total Employees**: Approximately **42**, including 17 full-time employees in the film division and 25 in the fiber optics division.

## Customer Base and Market
- **Number of Customers**: The number of distinct customers is unspecified but includes significant agreements with **Hudson Pacific Properties** and **Brandywine Operating Partnerships**, among others.
- The smart glass industry, which Crown targets, is projected to grow substantially, from **$3.8 billion in 2020 to $6.8 billion by 2025**, at a CAGR of **12.1%**.

## Company Structure and Governance
- **Incorporation**: Established in **Delaware** on **April 20, 2015**.
- **Board of Directors**: Comprised of industry veterans and professionals offering a breadth of expertise.
- **Corporate Governance**: The company is building its internal controls and corporate governance strategies to align with public company requirements under the Sarbanes-Oxley Act.

## Conclusion
Crown Electrokinetics Corp. is positioned at the forefront of innovative glass technology with ambitious plans for growth both in the smart glass and fiber optics markets. Despite financial losses and operational challenges, the company's commitment to sustainability and efficiency may enhance its value proposition in the evolving landscape of building technologies and telecommunications infrastructure.

Crown Electrokinetics Corp.

10-K / March 31, 2025

10-K / April 1, 2024

10-K / March 31, 2025

Company Overview - Crown Electrokinetics Corp.

Business Segments

Business Strategy

Employees & Revenue

Additional Financial & Operational Details