On 11 April 2024, Vsion announced the launch of its European headquarters in Luxembourg. With its innovative PDLC (Polymer Dispersed Liquid Crystal) film technology, the young South Korean company aims to become a global smart window specialist with cutting-edge techniques.
Innovative solution for smart windows
The global smart window market is experiencing rapid growth, with a projected compound annual growth rate of 16.8%, reaching $19.6 billion by 2030. Vsion intends to capitalise on this growth and shape the future of the smart window industry with its PDLC film able to toggle between transparency and opacity to block UV/IR radiation. This increases comfort and energy efficiency as it prevents outside heat from entering rooms in summer and helps retain warmth in winter, thus enabling smart building management that complies with ESG (environmental, social and governance) criteria.
Luxembourg is an excellent location for working with our potential target markets, such as France, Germany and Belgium.
Vsion’s PDLC film can replace curtains or blinds in buildings and serve as an alternative to tinted windows in cars. The company’s Vsion Play solution turns regular glass windows into digital screens capable of displaying advertisements and promotional messages with simple controls. Its technology overcomes limitations of traditional PDLC technology, such as the need for continuous power usage, low opacity and low mass-production capabilities.
A stimulating environment for a European HQ
By establishing its European headquarters in Luxembourg, Vsion plans to penetrate the smart roof market for automobiles and leverage the country’s strategic location to reach out to neighbouring countries.
“Luxembourg is an excellent location for working with our potential target markets, such as France, Germany and Belgium,” confirms Dongyeop Lee, Global Sales Executive and leader of Vsion Europe. “After comparing Paris and Luxembourg, we also found out that the support from public bodies such as Luxinnovation, the national innovation agency, and the House of Entrepreneurship is much stronger than in France or any other European country.”
We discovered that Luxembourg is home to many ‘hidden champions’ in the most powerful automotive segments.
The future plans of the company include setting up a factory in the EU and working with automotive glass manufacturers. “We discovered that Luxembourg is home to many ‘hidden champions’ in the most powerful automotive segments,” Mr Lee points out. “We find the opportunity to conduct an R&D collaboration with the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) once we plan to develop a new product line very attractive.”
First Luxembourg business partnership
The company has already established its first business partnership in Luxembourg with the Felix Giorgetti Group, a leading construction and development company in Luxembourg. The two companies signed a Memorandum of Understanding (MoU) in November 2023. “Giorgetti Group will potentially implement our PDLC films for its GRIDX activity centre project,” says Mr Lee. “GRIDX will display a most interesting architecture for an inclusive and immersive experience with a surface area of 42,000 sqm. The aim of the MoU is to test our Vsion Play solution.”
Photo credit: Vsion