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Research Frontiers, Inc. (REFR) Licenses Tint-It

|Includes: Research Frontiers Incorporated (REFR)

Research Frontiers announced that it has licensed its patented SPD-Smart technology to Russian company Tint-It JSC. The SPD-Smart product is based on light-control film technology, and will be used by Tint-It to manufacture SPD-Smart automotive and architectural products in Russia.

Based in Woodbury, NY, Research Frontiers is focused on developing and marketing suspended particle (SPD) technology, with over 500 worldwide patents covering it. SPD-Smart is utilized for the purpose of controlling light that passes through smart glass, and is used in a number of applications, such as automotive and architectural (as is the case of the Tint-It license) as well as aerospace, marine, and eyewear applications.

The terms of the license will see a 15% royalty for Research Frontiers products, which will be utilized in such items as sunroofs and side/rear automotive windows, in addition to windows, doors, and skylights in architectural settings. While the royalty percentage was released, minimum annual royalties, among other financial considerations, were not disclosed.

Vladislav Kravchenko, Development Director for Tint-It, said, "SPD-SmartGlass offers a complete and unequaled combination of shading, privacy and energy management to our customers. Our network of 30 authorized dealers throughout Russia, Kazakhstan, and the Ukraine already has had a positive experience selling SPD-SmartGlass for the automotive market since 2011, and we are currently expanding this network to cover other areas of our region. In addition to geographic expansion, we are also now expanding our product line to include SPD-SmartGlass for the architectural market. Because of the success and growing sales here, as we expand our business, it made sense to evolve from being a distributor of SPD-SmartGlass, to manufacturing it directly under license from Research Frontiers. In addition to our experience marketing, selling and installing SPD-SmartGlass, our affiliated group of companies has glass manufacturing experience with PDLC glass, as well as business units involved in residential and commercial construction. We see substantial sales potential in our region and look forward to continuing the expansion of our SPD-SmartGlass business as a direct licensee of Research Frontiers."

Joseph M. Harary, president and CEO of Research Frontiers, added, "We have received strong interest from the Russian market, and we welcome the team at Tint-It and its affiliated companies and dealer network to our family of licensees. We were impressed with their management, and the sales results and installation expertise that Tint-It has already achieved with our SPD-SmartGlass for the automotive aftermarket. We look forward to their continued growth and success in this market, as well as their emerging business in the architectural market for SPD-SmartGlass."

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