Business Description

Overview Crown Electrokinetics Corp. (“Crown,” “we,” or the “Company”) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. Smart Windows Division The Smart Windows division is focused on developing Crown’s innovative electrokinetic ("EK") technology, DynamicTint TM , for application in commercial buildings to improve energy efficiency, lower carbon footprint, and increase comfort. Electrokinetic Film Technology Our electrokinetic EK film technology was derived from proprietary ink and microfluidic technology developed at HP Inc. ("HP"). Electrokinetic refers to the movement of particles within a fluid under the influence of an electric field. Our EK film technology utilizes nanometer-sized pigment particles that are electrically charged and suspended in a liquid that is sandwiched between two clear substrates that are coated with a transparent conductor oxide ("TCO") film. Figure 1. In a non-energized state, the suspended pigment particles are distributed uniformly between the plastic films, and will absorb, transmit, or reflect light depending on the properties of the suspended pigment ("dark state"). When the proper electrical signal is applied to the conductive TCO layers, an electrical field is created, and the charged pigment particles collect in micro-embossed holes in a layer of polymer resin covering the transparent conductor surface. As the charged pigment particles are collected, the fluid becomes highly transparent ("clear state"). By applying a different electrical signal, the pigment can be dispersed back into the fluid to achieve the desired color density or opaqueness. CLEAR STATE DARK STATE Figure 1. Schematic cross-section of electrokinetic film in clear and dark states. Highlights • Clear Polyethylene Terephthalate ("PET") Substrates - Same material as window tinting films. • Transparent Conductor on PET - Indium Tin Oxide ("ITO") - same as most touch screens. • Electronic Ink - Nanoparticles suspended in a fluid which absorb light. • Energy Source - Nanoparticles are controlled through DC low voltage applied to the ITO conductor material which is powered by a lithium ion battery that is charged with a solar cell strip, no hard-wiring necessary. 1 Table of Contents Our plastic films are manufactured using industry standard roll-to-roll ("R2R") processing equipment. We believe our R2R processing will have an inherently lower manufacturing cost compared to sheet-based processing methods used for other smart window technologies like electrochromic glass. There are three basic steps to making our film using R2R equipment: 1) Deposition : R2R TCO deposition on clear polyethylene terephthalate ("PET") plastic film using vacuum sputtering of indium-tin oxide (ITO). The ITO on PET film can be provided by a number of suppliers. Millions of square feet of ITO on PET are currently provided for nearly all capacitance-based display touch screens. 2) Embossing : R2R embossing of UV-curable resin in a proprietary and patent protected 3-D pattern for ink pigment control and containment on one of the two plastic films. An example of the embossed pattern is shown in Figure 2 . The R2R embossing process can be completed by various plastic film companies. Crown has the capability to accomplish the coating and embossing steps within its current facility in addition to working with manufacturing partners. Figure 2. Microscopic Optical Image of Embossed Film 3) Lamination : The final R2R process laminates the two layers of PET together with the proprietary and patent protected pigment-containing fluid contained by the wall structure shown by the white areas in Figure 2 . The wall area has adhesion to the upper layer of PET with ITO film thereby sealing the fluid between the two plastic layers. The fluid contains nanometer-sized pigment particles that are charged electrically and suspended in the fluid.…