Coatings Maker NxLite Closes $9.2M Funding Round to Meet Growing Demand
NxLite has opened a new, 45,000-square-foot, $9-million Advanced Innovation and Manufacturing (AIM) Center in Canton Township that will serve as the company’s headquarters and house state-of-the-art nano-coating production lines and a materials science R&D center of excellence.
The strategic investment will enable NxLite (pronounced “next light”) to produce its energy-efficient, low-E coatings at commercial scale for windows, doors, and other transparent glazing applications, while accelerating development of the technology’s applications through collaboration with industry partners, according to the company.
“The opening of the AIM Center arrives at the perfect moment as demand surges for our solutions across multiple industries seeking to improve energy efficiency and reduce carbon emissions,” says David Mather, chairman and CEO of NxLite.
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The company says it has secured joint development agreements with several global industry leaders since the introduction of its coating technology to the market. In recognition of its technology and market potential, NxLite was recently named to the 2024 Cleantech 50 to Watch list by the Cleantech Group and named top Building and Infrastructure Technologies Venture at last year’s C3 Summit at the Suburban Collection Showplace in Novi.
NxLite specializes in applying permanent, low-emissivity coatings to both glass and lightweight polymers, including acrylic (PMMA) and polycarbonate. NxLite coatings are said to be open-air stable, allowing their use in monolithic (single pane of glass) applications as well as in multi-pane window solutions.
Applications range from residential and commercial windows, refrigeration display doors, window inserts for retrofitting existing buildings, to lightweight solutions for transportation. According to the U.S. Department of Energy, up to 30 percent of building heating and cooling energy is lost through windows, presenting an opportunity for NxLite’s technology to make an immediate environmental impact, the company states.
“Anywhere you need to see through a barrier while maintaining thermal control, our technology provides a superior solution,” says Mather. “Each application represents significant cost reductions in the form of global energy savings and carbon emission reductions while improving occupant comfort, reducing weight, and extending product and shelf life.”
The AIM Center is expected to create 39 new jobs. Working with the Michigan Economic Development Corp., NxLite and was awarded a $1.5 million Michigan Business Development Program (MBDP) performance-based grant from the Michigan Strategic Fund in support of the AIM center.
With its new AIM Center operational and strong industry partnerships in place, NxLite says it’s positioned to scale its breakthrough technology globally, accelerating the adoption of energy-efficient solutions across multiple industries and contributing significantly to carbon reduction goals worldwide.