LEGISLATION SIGNED INTO LAW TODAY IS EXPECTED TO ACCELERATE THE ADOPTION OF SPD-SMARTGLASS FOR ARCHITECTURAL AND AUTOMOTIVE SMART WINDOWS

Rhea-AI Summary

Research Frontiers (Nasdaq: REFR) announced a significant legislative boost for SPD-SmartGlass technology following President Biden's signing of the Dynamic Glass Act on August 16, 2022. This act provides investment tax credits aimed at accelerating the adoption of electrically-controlled variable tint glass in the architectural and automotive sectors. Research Frontiers, alongside industry partner Gauzy, aims to enhance energy efficiency and comfort in buildings and vehicles, with SPD-SmartGlass technology already used in various applications including cars and trains.

Positive

• The Dynamic Glass Act will provide investment tax credits for SPD-SmartGlass technology, enhancing adoption.
• Research Frontiers has licensed technology to over 40 companies, indicating strong market presence.
• SPD-SmartGlass technology can potentially increase the driving range of EVs by 5.5% and reduce CO2 emissions.

Negative

• None.

Woodbury, New York and Tel Aviv/Jaffo, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Today US President Biden signed into law legislation that is expected to accelerate the adoption of SPD-SmartGlass technology into both the architectural and automotive industries.

The Dynamic Glass Act extends meaningful investment tax credits to electrically-controlled variable tint glass. Research Frontiers is the industry leader and inventor of fast-responding Suspended Particle Device (SPD) light-control technology for use in smart windows and other products. Gauzy is the industry leader in material sciences for smart windows.

The two companies started doing business together as part of the growing SPD industry which uses Research Frontiers patented light-control technology. Gauzy is a leading manufacturer of SPD light-control film, specializing in coating, and proprietary technology in electronics, control systems, and specialty interlayers and assembly processes. The company sells SPD-SmartGlass products and technologies for the architecture, automotive, aeronautics, mass transit, and boating industries. Gauzy’s SPD LCG^® (light control glass) films are produced at Gauzy’s factory near Stuttgart, Germany using chemicals and nanoparticles that Gauzy produces in Israel.

Imagine a light-control film that allows users to instantly change the film’s tint from clear to dark or anything in between at the touch of a button, in response to commonly-used sensors, or integrated as part of a building’s or vehicle’s control system. This SPD-Smart film uses specially-engineered nanoparticles suspended and distributed throughout this flexible film to accomplish this. While it might sound futuristic, it has been used reliably to replace aircraft window shades since 2001, in tens of thousands of vehicles by Mercedes and McLaren beginning in 2011, and is scheduled for introduction on upcoming car models from Cadillac and other auto makers. It also was featured in yachts, cruise ships, trains, busses and museums (to protect priceless artwork and collectibles from visible light damage), and architectural applications such as a 10 thousand square foot roof at the World’s Fair in Milan in 2015.

Building and vehicle occupants can instantly change the tint of their windows or sunroofs to help keep out harsh sunlight and heat, and create an open-air feeling even when the window or sunroof is closed. Glass or plastic using Research Frontiers’ patented SPD-SmartGlass technology effectively blocks UV and infrared rays in both clear and darkly tinted modes, helping keep interiors cooler, and protecting occupants and interiors while also enhancing security, comfort and privacy. In vehicles such as cars and trains, some of the other benefits of SPD-SmartGlass include significant heat reduction inside the vehicle (by up to 18ºF/10ºC), UV protection, glare control, reduced noise, and reduced fuel consumption. Independent calculations also show that use of SPD-SmartGlass can reduce CO2 emissions by four grams per kilometer, and increase the driving range of electric vehicles by approximately 5.5 percent.

The markets for SPD-Smart film are already well-established. Research Frontiers has licensed over 40 chemical, film, and glass companies which are selling products for the automotive, aircraft, marine, train, museum and consumer electronics industries. Research Frontiers patented SPD-SmartGlass technology is the same best-selling smart window technology that can be found on tens of thousands of various existing cars from Mercedes and McLaren, and on upcoming car models from Cadillac and other auto makers. In addition to cars, products using Research Frontiers’ smart glass technology are being used in aircraft, yachts, trains, homes, offices, museums and other buildings. It can be used to replace mechanical shading elements in buildings and vehicles, and can create privacy on demand.

In addition to its over 70 certified laminators and other industrial partners, Gauzy has an established customer base in built environments and various mobility divisions, strategically aligned with leading brands such as Avery Dennison and Hyundai, and chosen by customers such as LG Display, BMW, Texas Instruments, Gensler, Clestra Hausermann, and many more for light control technology needs. Vision Systems now brings to Gauzy the largest market share of cockpit shading solutions, and new core industries to service including private and commercial aviation, marine, railway, bus and coach, and motorhomes. Trusted customers in these industries include HondaJet, Airbus, Dassault, Fritzmeier, Prevost and a number of others.

Joseph Harary and Eyal Peso, the CEOs of Research Frontiers and Gauzy, respectively, noted the importance to the smart glass industry of these new legislative incentives: “Our customers, especially in the architectural and automotive industries, will all benefit from this. The tax incentives will encourage the use of SPD-SmartGlass in architectural applications, and the automotive industry will also benefit from the incentives in this new legislation, especially those focused on electric vehicles. In addition to making homes and offices more energy efficient and comfortable, SPD-SmartGlass technology has been demonstrated to extend the driving range of EVs by as much as 5.5%, and internal combustion engine vehicles can also benefit from reduction in CO2 emissions by as much as 4 grams per kilometer.”

About Gauzy Ltd.

Gauzy is a world leading vendor of material science and nanotechnology, focused on the research, development, manufacturing, and marketing of technologies which are embedded into and onto raw materials. Among Gauzy’s core areas of expertise are LC and SPD, which are used to produce LCG^® (Light Control Glass). The company is headquartered in Tel Aviv Israel, with an additional production facility in Germany, and sales, marketing, and distribution sites in multiple US cities and China. Learn more at www.gauzy.com, and on LinkedIn, YouTube, and Facebook.

Gauzy has a recently-expanded state-of-the-art material synthesis facility in Israel, and a custom 11,000 square meter SPD production facility strategically located near Stuttgart, Germany. This production site is dedicated to producing 1,000,000 sqm of SPD material yearly for the automotive and architectural industries. Gauzy’s state-of-the-art production techniques have brought down the cost of SPD-Smart light control technology significantly, has shortened delivery times to customers, and have added new capabilities and functionality to the world of smart glass.

About Research Frontiers Inc. 

Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology which allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to over 40 companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube.

Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. "SPD-Smart" and “SPD-SmartGlass” are trademarks of Research Frontiers Inc. “LCG^®” (Light Control Glass) is a trademark of Gauzy Ltd. “Cadillac” is a trademark of General Motors. “MAGIC SKY CONTROL” and “Mercedes-Benz” are trademarks of Daimler AG.

For further information, please contact:

Eyal Peso
Founder and CEO
Gauzy Ltd.
+972-72-2500385
info@gauzy.com

Brittany Kleiman Swisa
VP of Marketing
Gauzy Ltd.
+1-214-501-2469
marketing@gauzy.com

Joseph M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
Info@SmartGlass.com

FAQ

What is the Dynamic Glass Act related to REFR?

The Dynamic Glass Act provides investment tax credits for SPD-SmartGlass technology, aimed at increasing its adoption.

How will the Dynamic Glass Act affect Research Frontiers?

The act is expected to enhance the adoption of SPD-SmartGlass technology in both architectural and automotive industries.

What are the benefits of SPD-SmartGlass technology?

SPD-SmartGlass can reduce heat by up to 18ºF, protect against UV rays, and enhance energy efficiency in buildings and vehicles.

How many companies license Research Frontiers' technology?

Research Frontiers has licensed its technology to over 40 companies in various industries.

When was the Dynamic Glass Act signed into law?

The Dynamic Glass Act was signed into law by President Biden on August 16, 2022.