Finnish company Glaston has acquired 12% of a nanotechnology company that develops glass technology solutions.
Glaston will acquire 12% of the Californina-company’s shares and serve as the preferred equipment partner.
In addition, Glaston has also agreed on the delivery of engineering resources and equipment to the company to the value of €2 million. The engineering resources and equipment will be delivered in 2016.
The first smart glass production lines related to the nanotechnology solution are expected to be ready for commercial use in 2020 at the latest.
Glaston will be the exclusive supplier of thin glass heat treatment furnaces with respect to these production lines.