GE backs eco-glass start-up with $30m deal

A US green building start-up that makes glass capable of electronically switching from clear to tinted to help save energy has secured $30m (£19m) of venture capital funding from a group of investors including engineering giant General Electric (GE).

California-based Soladigm confirmed yesterday that it had completed the funding round with the help of GE, which will use the glass in new buildings and grids as part of its high-profile Ecomagination initiative to cut emissions and boost the energy efficiency of its products and facilities.

The funding will also allow Soladigm to enter mass production for its Dynamic Glass and expand its sales and marketing arms.

The round was led by DBL Investors and Nano Dimension, and included existing investors Khosla Ventures and Sigma Partners.

Rao Mulpuri, chief executive of Soladigm, welcomed the funding, insisting it would help the company continue on its mission "to bring high-quality Dynamic Glass to the market at affordable prices to drive widespread market adoption and reduce energy consumption in buildings".

Kevin Skillern, GE Energy Financial Services managing director, said GE would use the glass on a wide range of projects.

"With GE´s green homes and green hospitals programmes, our zero-energy home programme and other smart grid and energy efficiency initiatives, we see multiple avenues for collaboration with Soladigm´s Dynamic Glass technology," he said.

The companies failed to disclose how much GE contributed to the deal, but the news follows GE´s selection of Soladigm last month as one of 12 firms in which it plans to invest as part of its $200m Ecomagination Challenge to help build a next-generation power grid.