NZ Super Fund, Corning, Inc., Madrone Capital Partners, and Others Invest in Growth Equity Financing
MILPITAS, Calif. (August 13, 2015) – View®, the leader in dynamic glass, today announced it has raised $150 million in equity funding to finance manufacturing expansion and company growth. Participants in this round included new investor NZ Super Fund, existing investors Corning Incorporated (NYSE: GLW), Madrone Capital Partners and others, and leading real estate investors.
“We are thrilled that NZ Super Fund has joined our investor group at a time of rapid growth at View,” said View CEO Dr. Rao Mulpuri. “As human wellness and environmental sustainability become strategic imperatives for forward-thinking organizations, View Dynamic Glass is enabling the rapid evolution of occupant-focused, sustainable, and intelligent building design. The strong, positive reaction from our initial customers is driving increased market acceptance and this financing will help us expand our capabilities to meet the growing market demand.”
View Dynamic Glass maximizes natural light and unobstructed views while reducing heat and glare. Unlike traditional glass, View Dynamic Glass tints automatically in response to outdoor conditions or from a mobile device, providing greater occupant comfort and energy savings without ever compromising the view.
“View’s strong growth potential in a large market and the global problem it addresses made it an attractive addition to the Fund’s portfolio,” said Matt Whineray, Chief Investment Officer, NZ Super Fund. “View’s energy efficiency benefits are also a good fit with our strategy to increase the Fund’s exposure to alternative energy. We are pleased to be able to further diversify the Fund’s portfolio of offshore, growth-oriented direct investments with this innovative company.”
View Dynamic Glass can be seen in more than 100 installations across North America with an additional 100 underway in various commercial markets such as corporate offices, healthcare, government, higher education, and hospitality.
A leader in building innovation, View Inc. is the first company to successfully advance the large-scale commercialization of dynamic glass. Situated at the intersection of human wellness, smart technology, and energy efficiency, View manufactures View Dynamic Glass, a new generation of architectural glass that intelligently transitions through multiple tint states to control the sun’s energy, providing an enhanced occupant experience and optimum natural light and thermal comfort.
View is shaping the future of occupant-focused building design from its headquarters in Silicon Valley and its high-volume manufacturing facilities in Olive Branch, Mississippi. For more information please visit www.viewglass.com.
About NZ Super Fund
The New Zealand Superannuation Fund is a sovereign wealth fund established by the New Zealand Government to partially pre-fund the future cost of universal pension payments. A long-term, growth-oriented investor, the Fund has returned 10.3% p.a. since inception in 2003. The Fund is managed by the Guardians of New Zealand Superannuation, a Crown entity. Funds under management were NZ$29.6 billion as at 31 May 2015. For more information visit www.nzsuperfund.co.nz.