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Saf-Glas Enters Into Letter of Intent to be Acquired by Saxon Capital Group, whose Common Shares are Quoted on OTC Markets
Saf-Glas Enters Into Letter of Intent to be Acquired by Saxon Capital Group, whose Common Shares are Quoted on OTC Markets.
About this update from Saxon Capital Group Inc.
[{"type":"text","content":"Through its Energy Glass subsidiary, Saf Glas, using propriety, patented Nano Technology, has developed a patented optically clear glass that produces continuous electricity form sunlight, diffused and ambient light, and ground reflectance. The entire surface of the window is clear with no grids, dots or lines and is the only known photovoltaic glass in the world with 100% field of vision. Riviera Beach, Florida--(Newsfile Corp. - August 10, 2021) - Saf-Glas and Saxon Capital Group (OTC: SCGX) announced that they have entered into a non-binding letter of intent under which Saxon Capital will acquire Saf Glas in a reverse acquisition transaction to be effected through a stock for stock exchange. Terms of the planned transaction were not disclosed.Energy Glass, a subsidiary of Saf Glas LLC, is a 20-year-old glass producing company that has been developing and testing its patented Energy Glass product for approximately 10 years.Energy Glass was successfully tested in the Sears Tower, Chicago for 5 years demonstrating its ability to collect energy form sunlight, as well as diffused light . Energy Glass is price competitive with standard laminated glass that does not produce passive electricity, and it also qualifies for certain tax incentives under current law. These tax incentives could provide building owners tax savings on the entire window system . The combined company's primary focus will initially be geared towards the Flat Glass Market, estimated to be $288 billion by 2025.Energy Glass's proprietary technology is produced by an affiliated laboratory which fabricates and refines a specific nano particle that, when co-extruded into the EnergyGlass™' single source interlayer, has the ability to magnify and direct light, as well as remain visually clear. The light is magnified and then directed to the periphery of the glass plate, at which time the light is converted into electricity. The system components are interlayer, frame and frame architecture. The main proprietary element is an interlayer composition resulting from the co-extrusion of specific inorganic nanoparticles into the interlayer that redirects a portion of light to the periphery of the glass element where solar cells convert the light to electricity.Energy Glass can incorporate many types of design elements, including tints, low E, insulated, reflective, and...