Saxon Capital Group Inc. and Saf-Glas LLC have signed an settlement whereby Saxon Capital Group acquired unique worldwide rights to fabricate and promote EnergyGlass Architectural Glass merchandise, which can be utilized for buildings, greenhouses, houses and extra.
The settlement for worldwide exclusivity offers Saf-Glas LLC’s administration controlling curiosity of Saxon Capital. In addition, Saxon acquired sure specialised “nanotech” gear which is used within the manufacture of EnergyGlass merchandise.
Saxon plans to vary the company identify to Energy Glass Solar, topic to shareholder and FINRA clearance. In consideration for the unique worldwide license and switch of specialised gear, Saxon forgave $535,000 in indebtedness owing to it by Saf-Glas and issued Saf-Glas 30 million shares of Saxon, a controlling curiosity.
A brand new administration group and board of administrators will likely be introduced shortly. As a part of the settlement, Saxon is obligated to buy the EnergyGlass Architectural Glass Products patented know-how upon the extra elevate of $10 million, at which period Saf-Glas will likely be issued extra shares of Saxon such that it’s going to personal 80% of the issued and excellent shares of Saxon, after giving impact to the foregoing transactions.
EnergyGlass is another energy, patented, optically clear electrical producing glass know-how that produces steady energy from daylight and subtle and ambient mild. EnergyGlass shouldn’t be an added value to a constructing challenge as are different various renewables, primarily based on present pricing and after giving impact 30% Federal Investment Tax Credit. EnergyGlass can be utilized with glass, polycarbonate and most plastics.
The advantage of large-scale set up of EnergyGlass merchandise is that it has the potential of reworking mid- and high-rise buildings and greenhouses into vertical solar farms. EnergyGlass merchandise will also be utilized in residential houses, and each industrial and non-commercial autos. The set up of EnergyGlass is analogous in nature to set up of regular laminated glass. It can incorporate many sorts of completely different glass and makeups inclusive of tints, Low E, insulated, SAFGLAS IR movie, reflective, glass ceramic, and most different sorts and makeups.
As a part of the settlement, Saxon has signed a further contract with Saf-Glas whereby Saf-Glas will manufacture the EnergyGlass merchandise for Saxon till such time as Saxon is ready to fund the acquisition of the mental property associated to the EnergyGlass architectural merchandise.