The funding will enable Miru to rapidly commercialize
electrochromic window technology for the automobile, architectural,
marine, and aviation verticals
VANCOUVER, BC, Aug. 8, 2024
/PRNewswire-PRWeb/ -- Miru Smart Technologies ("Miru"), a developer
of next generation electrochromic windows (eWindows), announced the
closing of $20M USD in Series A
financing. The Series A was co-led by the Business Development Bank
of Canada's investment arm, BDC
Capital, and Angelo Paletta of TNG
Capital Corp., with follow-on investments by Greensoil Proptech
Ventures. Vivian Kan and
Kieron Hayes joined Miru's Board of
Directors effective April 2024.
"With the support of investors such as BDC
Capital, TNG Capital Corp and others, as well as strategic
partnerships with industry-leading glass makers and fabricators,
Miru is poised to redefine energy efficiency and carbon removal
efforts in building and automotive industries."
This Series A will fund investment into Miru's dynamic glass
roofs for automobiles, and support the build of new pilot lines in
North America and Europe that will service the automotive and
architectural markets.
"BDC's investment in Miru underscores our commitment to
fostering innovation and sustainability in smart building
solutions," said Vivian Kan,
Partner, BDC Capital's Climate Tech Fund. "Together with Miru, we
look forward to advancing glass technology that not only enhances
energy efficiency but also transforms the way we interact with our
environments."
"Miru developed eWindows technology faster than has ever been
done before, and this funding furthers our ability to scale at this
unprecedented pace and bring Miru technology to market," said
Curtis Berlinguette, CEO and
Founder, Miru. "With the support of investors such as BDC Capital,
TNG Capital Corp and others, as well as strategic partnerships with
industry-leading glass makers and fabricators, Miru is poised to
redefine energy efficiency and carbon removal efforts in building
and automotive industries."
The $20M Series A will enable Miru
to deliver on the goal of eliminating 2 Gigatons of CO2 emissions
by increasing the energy efficiency of buildings by 20% and by
extending the range of electric vehicles by 10%. Currently, Miru
has three demonstration plants being designed across North America and Europe, and another two are in
development.
About Miru
Miru Smart Technologies develops next-generation electrochromic
windows (eWindows) for the transportation and architectural
sectors. Miru is disrupting how eWindows are made and distributed.
Miru's vision is to improve the well-being of people and our
planet, and to bring 10 million square feet of eWindows to the
market by 2028. Learn more at mirucorp.com
About BDC Capital
BDC Capital is the investment arm of BDC, Canada's bank for entrepreneurs. With over
$6 billion under management, BDC
Capital serves as a strategic partner to the country's most
innovative firms. It offers businesses a full spectrum of capital,
from seed investments to growth equity, as well as fund
investments, supporting Canadian entrepreneurs who have the
ambition to stand out on the world stage. Visit bdc.ca/capital.
Media Contact
Megan Verchere, Miru Smart
Technologies, 1 6047613946, m.verchere@mirucorp.com,
www.mirucorp.com
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SOURCE Miru Smart Technologies