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TWST: What is Research Frontiers?
Mr. Harary: Research Frontiers is the technological leader in the field
of light-control technology. Our SPD-Smart_ technology allows the user
to either manually or automatically control the transmission of light in
multiple products across several global industries. By laminating SPD
(suspended particle device) film to either glass or plastic, regular
windows, for example, become 'SPD-Smart windows.' This allows you to
instantly and precisely control light, glare, and heat, and eliminates
the need for view-blocking shades or blinds. SPD-Smart products and
technology are applicable within several large industries. In the
automotive industry, imagine a sunroof or glass roof of a car that could
darken and lighten at the driver's whim. Imagine windows for the home or
office where you no longer need shades or blinds ' you can simply dial
in the precise amount of tint you want, with something as simple as a
dimmer switch, or maybe you use a photocell so that your windows
automatically adjust instantly. Or, you interface the windows with the
building control system of an office building for greater energy
efficiencies and optimal use of daylighting. Think also about the side
and back windows of a car. The back windows can be adjusted
automatically to control glare coming from upcoming headlights from
behind. The side windows can darken to eliminate solar heat gain. In
SUVs and minivans, where you now often find DVD players, having SPD-
Smart film in the glass allows you to get a home theater type of
experience inside the vehicle. Using SPD-Smart glass with other
available materials can not only reduce solar heat gain and enhance
comfort within the vehicle, but can also reduce the size and cost of
air-conditioning equipment in the vehicle, and also lower the cost of
interior materials used in the car by blocking more than 99% of the
sun's ultraviolet rays that cause fading of fabrics. In aircraft, we
can replace the pull-down window shades with a thin piece of SPD film,
thus making an SPD-Smart window shade that basically is built into the
existing window. This saves weight, which saves fuel on an aircraft.
It's estimated that SPD-Smart windows could quickly pay for themselves
in reduced shade breakage and fuel savings. SPD technology also gives
passengers and flight crews more control over their cabin environment
while increasing comfort for all. Using SPD-Smart aircraft window shades
also increases cabin space, which is especially beneficial in the
private jet market. There is more elbowroom because you are minimizing
the amount of space that's being allocated to existing conventional
shades or by electromechanical shades. In the architectural market,
there are a number of different places where you would use SPD-Smart
glass technology. In the home and in the office, SPD-Smart controllable
windows allow you to instantly adjust how much light and glare is coming
in, while maintaining your view and your connection to the outside
world. If your windows include a conventional 'static' window tint, you
are stuck with what you have. This blocks too much light at night, at
dusk, or when there is an overcast sky. It doesn't block enough light at
mid-day or in the direct sun, which requires you to block your view with
shades or blinds. With SPD-Smart windows you can have it the way you
want it, when you want it, without the need for shades. The technology
allows architects to add new dimensions to their designs and also
elegantly and efficiently control heat, light and glare in hard-to-shade
areas. For example, if you have an all-glass atrium in a building, it
may be very difficult to shade it properly with conventional shading
devices because the glass may be very high up, or the design may call
for curved or other irregularly shaped surfaces. But with Research
Frontiers' SPD-Smart glass technology, the glass itself acts as its own
window shade. You could simply point a remote control or 'dial in' the
amount of tint you want in the windows, or connect the glass to the
building control system so that it adjusts automatically according to
the conditions. Depending on the time of day or the type of aesthetic
effect you are trying to achieve, you can instantly and precisely
control the glass in the atrium and the interior environmental
conditions, while saving money on electricity for interior lighting and
air conditioning. One of the many quality-of-life aesthetic benefits of
SPD technology is that it enables you to preserve desired views. If you
have a beautiful home, high-rise apartment or an office on a high floor
in an office building, you or your company paid a premium for that view.
However, due to the solar heat and glare, you are often forced to choose
between being uncomfortable and blocking your view. That's not a very
good choice. Next time you are in a high-rise apartment or office
building, notice that the shades are often pulled all the way open. Most
people don't like to block their magnificent views with conventional
shades or blinds or curtains, so they endure more glare and heat than
they are truly comfortable with. SPD-Smart glass technology allows you
to preserve your view, while maintaining control over light, glare, and
solar heat gain in the home, apartment or in the office. Turning to the
marine market, right now on a typical yacht, there might be five
different types of glass being used. In some areas, high tint is needed.
In others, clearer glass is used. However, boats are constantly changing
direction so a lightly-tinted area of the boat may all of a sudden be
the direct recipient of bright direct sunlight or glare reflecting off
of the water. Replacing that glass with SPD-Smart glass can allow you to
use fewer different types of glass, basically allowing the glass to be
more versatile, and eliminating the less-than-ideal compromises that
yacht and cruise ship designers now must choose in their designs.
Aerospace, automotive, architectural and marine are the basic industries
in which our technology is used. The requirement for a global supply
chain of SPD emulsions and films, as well as industry-specific end-
products, has strongly influenced our business model. It is important to
note that Research Frontiers is not a manufacturer. Our business model
is much like that of a biotech company. We have a broad intellectual
property portfolio of approximately 450 patents and patent applications,
and we have licensed our technology to larger companies that have the
manufacturing and marketing experience, resources, which enable them to
do the heavy lifting. They will do the manufacturing and the marketing
of SPD-Smart products to their existing customers. Currently, we have 35
companies licensed to use our technology for various applications.
Tickers included in this excerpt: REFR
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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