Switch Materials Secures C$7.5 Million
18 January 2010
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Vancouver-based SWITCH Materials has raised $7.5 million in Series B round of financing. The Business Development Bank of Canada (BDC Venture Capital) led the 
investment, with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West. Proceeds will be used for continuing R&D and to complete product commercialization.
“I am excited that an up and coming Canadian clean tech company will be added to our portfolio,” said Geoff Catherwood, Director of Venture Capital at BDC. “The technology being developed at SWITCH carries tremendous potential to address the burgeoning demand for a new generation of window technology. Producing a SMART window solution that can meet the price point required for significant market penetration will enable SWITCH to gain a leadership position in a large untapped market.” In conjunction with the financing, Mr. Catherwood will join the companyís Board of Directors.
Switch develops a product offering dynamic light-control films for architectural and automotive use.
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