Saxon Capital Group Inc. and Saf-Glas LLC have signed an agreement whereby Saxon Capital Group acquired exclusive worldwide rights to manufacture and sell EnergyGlass Architectural Glass products, which can be used for buildings, greenhouses, homes and more.
The agreement for worldwide exclusivity gives Saf-Glas LLC’s management controlling interest of Saxon Capital. In addition, Saxon acquired certain specialized “nanotech” equipment which is used in the manufacture of EnergyGlass products.
Saxon plans to change the corporate name to Energy Glass Solar, subject to shareholder and FINRA clearance. In consideration for the exclusive worldwide license and transfer of specialized equipment, Saxon forgave $535,000 in indebtedness owing to it by Saf-Glas and issued Saf-Glas 30 million shares of Saxon, a controlling interest.
A new management group and board of directors will be announced shortly. As part of the agreement, Saxon is obligated to purchase the EnergyGlass Architectural Glass Products patented technology upon the additional raise of $10 million, at which time Saf-Glas will be issued additional shares of Saxon such that it will own 80% of the issued and outstanding shares of Saxon, after giving effect to the foregoing transactions.
EnergyGlass is an alternative energy, patented, optically clear electric producing glass technology that produces continuous energy from sunlight and diffused and ambient light. EnergyGlass is not an added cost to a building project as are other alternative renewables, based on current pricing and after giving effect 30% Federal Investment Tax Credit. EnergyGlass can be used with glass, polycarbonate and most plastics.
The benefit of large-scale installation of EnergyGlass products is that it has the potential of transforming mid- and high-rise buildings and greenhouses into vertical solar farms. EnergyGlass products can also be used in residential homes, and both commercial and non-commercial vehicles. The installation of EnergyGlass is similar in nature to installation of normal laminated glass. It can incorporate many types of different glass and makeups inclusive of tints, Low E, insulated, SAFGLAS IR film, reflective, glass ceramic, and most other types and makeups.
As part of the agreement, Saxon has signed an additional contract with Saf-Glas whereby Saf-Glas will manufacture the EnergyGlass products for Saxon until such time as Saxon is able to fund the acquisition of the intellectual property related to the EnergyGlass architectural products.