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Crown Electrokinetics Shares Move Higher Following First Commercial Agreement with MetroSpaces

Updated: 28 Sep 2021

Crown Electrokinetics Corp (NASDAQ: CRKN) has signed its first commercial client in a landmark agreement with MetroSpaces Inc (OTC: MSPC).

The price of smart-glass technology company CRKN is trading around highs of $4 on Tuesday, a substantial rise from the closing price of $3.38 Monday evening. 

The bullish surge comes off the back of a promising new partnership with MetroSpaces, a proptech company specialising in bringing cutting-edge technology to the world of high-end real estate. Crown will be supplying its state-of-the-art Smart Windows in a refitting of the MetroSpace 70,000 square-foot office in Houston, Texas. 

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In a partnership built on innovation and forward-thinking, Crown are excited to find a strong foundation for their future vision. 

Doug Croxall, Chairman and CEO of Crown had this to say regarding the new partnership: “MetroSpaces is an innovator working towards our shared vision of how commercial buildings should operate, both in terms of tenant comfort and also lowering carbon emissions”.

According to Croxall, this is merely the first step in a much wider rollout of Crown’s smart glass. In addition to working with MetroSpaces, the team at Crown hope to attract a wider scope of customers looking to increase window efficiency and levels of insulation. 

Crown has the statistics to back up the vision; with initial tests suggesting that the window inserts can reduce energy costs by up to 26%.

Crown Electrokinetics Daily Chart, Source: IG

Oscar Brito, CEO of Metrospaces is equally pleased with the partnership: “MetroSpaces is thrilled to work with Crown Electrokinetics and be among the first commercial building owners to receive its Smart Window Inserts powered by DynamicTint™…This is the sort of high-end connected services we'll be looking to install into all of our buildings.”

With energy efficiency becoming more and more crucial in global real-estate and beyond, companies like Crown Electrokinesis should be watched with a close eye as they continue to hunt for new, fruitful relationships.

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