ChromoGenics develops, produces, and sells intelligent dynamic glass primarily for commercial properties with controllable optic characteristics to improve energy efficiency, indoor comfort, and architectural freedom in buildings. ChromoGenics is the only producer of dynamic glass through its own sputter machines in Europe.

ChromoGenics was founded in 2003, based on research at Ångström Laboratory, Uppsala University, and subsequently developed a patented electrochromic technology, ConverLight Dynamic, which makes it possible to control transparency in glass and thus control the inflow of both light and heat. Using a low electrical voltage, the transparency of the glass can change from light to dark. The company has invested a total of SEK350m in the development of its dynamic glass, the establishment of its production facility, and its patents.

ChromoGenics was listed on Nasdaq First North in 2017, and its current CEO, Fredrik Fränding joined in 2021.

Färna Invest first invested in ChromoGenics in March 2021, buying 1.77% of the capital. From June 2022 until the end of March 2024, Färna Invest accumulated shares until the announcement, owning 20.04% just before the bid. After the bid last Thursday, it bought more shares and now owns 29.8% of the capital.

The bid on the 23rd of May of SEK10 was a 72.4% premium to the closing price of May 22nd and a 48% premium to the latest 30-day average.

The offer is conditional upon the bidders acquiring more than 90% of the shares, which is the level required to forcibly buy out minority shareholders. However, Färna Invest has a provision that allows them to accept a lower participation rate than 90%. The bid committee at ChromoGenics recommends that shareholders accept the offer. The acceptance period for the offer is expected to begin around May 30 and end around June 28.