On April 30, 2015, Gyrotron Technology, Inc. (GTI) entered into a Subaward and Development Agreement with PPG Industries, Inc. (PPG). GTI will assist PPG as a subcontractor in a project majority funded by the Department of Energy (DOE") which calls for PPG to demonstrate components of a fabricate-on-demand vacuum insulating glazing manufacturing process. GTI was retained by PPG to provide expertise relating to microwave heating techniques as applied to glass joining processes.

PPG's contract with the DOE calls for 70%/30% cost sharing between the DOE and PPG, and GTI's subcontract also calls for GTI to bear 30% of the cost of its work. If the DOE continues to fund the project and the agreement is not otherwise terminated, the agreement contemplates that GTI will be paid $120,658 by PPG over a two and a half year period. Inventions and intellectual property (together IP") conceived jointly by GTI and PPG will be jointly owned by the parties, and IP developed solely by one party will be owned by that party.

If within 90 days of the termination of the agreement PPG determines to proceed with the commercialization of vacuum insulating glazing technology based on GTI's wholly or jointly owned IP, PPG will have exclusivity with respect to such IP under a separate agreement to be negotiated between the parties. If the parties do not come to agreement, the terms under which PPG may use such IP will be determined by binding arbitration. In addition, as a consequence of the DOE funding, the US government retains certain statutory IP rights.