Item
7.01 Regulation FD Disclosure
RESEARCH
FRONTIERS’ SPD-SMARTGLASS TECHOLOGY DEBUTS AT CES
IN CADILLAC CELESTIQ ELECTRIC VEHICLE
Woodbury,
New York. January 13, 2021 – In conjunction with General Motors CEO Mary Barra’s keynote address at CES, Cadillac
announced the debut of its future flagship ultra-luxury fully electric CELESTIQ sedan. Automotive News noted that the CELESTIQ
is expected to go on sale in 2023.
CELESTIQ’s
full-glass roof is expected to be one of the first to feature a four-quadrant, suspended-particle-device (SPD) smart glass. With
this smart glass, each occupant of the vehicle can set their own level of roof transparency. The driver and front-seat passenger
will enjoy a pillar-to-pillar freeform display with active privacy to help mitigate driver distraction while rear-seat passengers
have personalized entertainment screens. Console screens between seats in the front and back will separate individualized comfort
settings from entertainment displays to minimize distractions.
SPD-Smart
light control film, invented and patented by Research Frontiers (Nasdaq: REFR), is a key component in SPD-SmartGlass products.
This film allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually
or automatically at the touch of a button. 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.
Joseph
M. Harary, President and CEO of Research Frontiers, noted: “SPD-SmartGlass will give each occupant of the CELESTIQ the ability
to control the heat, light and glare coming into the vehicle, enhancing comfort, security and privacy, while also allowing them
to better see information on their entertainment systems and devices. SPD-SmartGlass also can increase the driving range of electric
vehicles.”
SPD-SmartGlass
light-control technology offers instant and uniform control of the tint of windows that permits them with the touch of a button
or automatically using a smartphone, tablet, smart speaker, smart home systems, or other control devices to change tint from dark
(blocking over 99.5% of light and 95% of heat) to clear, or any level in between. This saves energy, creates privacy, and increases
comfort and security.
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 various car
models from Daimler, McLaren Automotive, and other auto makers. The MAGIC SKY CONTROL feature, which is now in use on tens of
thousands of Mercedes-Benz SLs, SLC/SLKs, Maybach and S-Class models around the world, and more recently on four announced McLaren
models, uses patented SPD-SmartGlass technology developed by Research Frontiers to turn the roof transparent by electrically aligning
tiny particles in a thin film within the glass. With the touch of a button, drivers and passengers can instantly change the tint
of their roof to help keep out harsh sunlight and heat, and create an open-air feeling even when the 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 the cabin cooler, and protecting passengers and interiors while also enhancing security
inside the vehicle. These benefits become even more important when a car uses large surface areas of glass, especially in warm
climates.
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.
Shortly
after its introduction into serial production in the automotive industry, SPD-SmartGlass has become standard equipment on many
different aircraft, and is also used in residential and commercial architectural applications, in trains, yachts and other marine
vehicles, in display applications, and to protect light-sensitive artwork and documents in major museums around the world.
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 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.
“Cadillac” and “Celestiq” are trademarks of General Motors. “MAGIC SKY CONTROL” and “Mercedes-Benz”
are trademarks of Daimler AG.
For
further information, please contact:
Joseph
M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
Info@SmartGlass.com
Details
are noted in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
The Research Frontiers press release is also available on the Company’s website at www.SmartGlass.com and at various other
places on the internet.
This
report and the press releases referred to herein may include statements that may constitute “forward-looking” statements
as referenced in the Private Securities Litigation Reform Act of 1995. Those statements usually contain words such as “believe”,
“estimate”, “project”, “intend”, “expect”, or similar expressions. Any forward-looking
statements are made by the Company in good faith, pursuant to the safe-harbor provisions of the Act. These forward-looking statements
reflect management’s current views and projections regarding economic conditions, industry environments and Company performance.
Factors, which could significantly change results, include but are not limited to: sales performance, expense levels, competitive
activity, interest rates, changes in the Company’s financial condition and several business factors. Additional information
regarding these and other factors may be included in the Company’s quarterly 10-Q and 10K filings and other public documents,
copies of which are available from the Company on request. By making these forward-looking statements, the Company undertakes
no obligation to update these statements for revisions or changes after the date of this report.
The
information in this Form 8-K or the press release reproduced herein shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities
Act of 1933, except as shall be expressly set forth by specific reference in such filing.