Item
7.01 Regulation FD Disclosure
Berlin,
Germany – September 20, 2018
– At the recent Research Frontiers (Nasdaq: REFR) quarterly conference call, President
and CEO Joe Harary remarked; “Trains can be our second-biggest market in the next few years… train cars with our
technology are well along with their performance testing on the rails.... new trains are being built as we speak using our SPD-SmartGlass
in them.”
This
week’s InnoTrans trade show in Berlin illustrates the growth of SPD-SmartGlass in the rail industry, with solutions that
improve the passenger experience and benefit train operators. Train manufacturers, operators, and train window suppliers primarily
in Europe and Asia have all been working with Research Frontiers’ patented SPD-SmartGlass technology which allows passengers
and crews, at the touch of a button, to change the tint of the windows on a train. The windows also interface with climate control
systems for automated control. This technology enables control and management of heat, light and glare coming into railway cars
to make train cars more comfortable, safer, quieter, and more energy efficient. By using SPD-SmartGlass technology, passengers
and crews can “tune” the amount of light coming into the train to preserve and enhance views and reduce unwanted glare.
Innotrans,
the leading international trade fair for transport technology, is the stage for the world premier of new electronically dimmable
window (EDW) solutions using SPD-SmartGlass technology. AGC, and Vision Systems, both licensees of Research Frontiers, launched
their respective latest generations of SPD-SmartGlass EDWs for the rail industry. These “smart windows” control and
manage both beneficial and undesirable outside elements entering train cars through passenger windows. Vision Systems also unveiled
another new solution, “Info-Vision” window, which integrates an electroluminescent display into the SPD-SmartGlass
EDW.
Vision
Systems recently commented about their new EDW generation: “Thanks to a new industrial process that has already been tried
out successfully for the aeronautic and marine industries, Vision Systems’ smart shading systems provide enhanced optical
quality, 30% lower cost and a wider range of packaged solutions adapted to each project.”
Most
trains with traditional window shades have passenger windows that are also highly tinted, in an attempt to reduce the amount of
time the shades must be down due to excessive light, glare or solar heat. While this reduces somewhat the time the shades have
to be down, it remains ineffective for many lighting conditions. Even when the shade is up, the tint of the window limits the
passengers’ views outside the train during dusk, nighttime and pre-sunrise hours. SPD-Smart windows eliminates this problem
with its ability to be in an optically clear state.
SPD-SmartGlass
EDWs dramatically improve the passenger experience, by instantly and precisely managing the optimum amount of healthy daylight
for passenger comfort and well-being,
and
rejecting uncomfortable heat and noise. Also, an important feature of the passenger
experience onboard trains is experiencing the magnificent views. With windows using traditional shades, views are blocked at all
times sunlight, glare or heat are uncomfortable. SPD-SmartGlass is the solution, by enabling passengers to instantly and precisely
“tune” the window’s tint to a level that allows them to continue to enjoy views yet remain extremely comfortable,
even in direct sun.
Vision
Systems at InnoTrans
In
a Vision Systems press release, their Nuance product line of SPD-SmartGlass solutions using their new generation technology were
reviewed.
Some
of the products using SPD-SmartGlass for the train industry being showcased this week in Berlin include:
|
●
|
EDWs
with integrated control system electronics (on the passenger window EDW itself), for
rapid installation in both new train car production, and retrofitting existing train
cars.
|
|
●
|
SPD-SmartGlass
solutions for the driver cabin, to eliminate glare on the dashboard with side and back
window EDWs, and/or SPD sun visors integrated into the windshield.
|
|
●
|
“Info-Vision”
window, which integrates an electroluminescent display into SPD-SmartGlass windows. This
combines the benefits of the EDW with information available directly on the window, such
as time to destination, remaining distance, temperature, service options, and train schedules.
|
Vision
Systems Rail Industry Projects
Vision
Systems was one of the first companies to introduce their Nuance brand of SPD-Smart windows and its benefits to the train industry.
Their Nuance solution was installed on the mockup of Aeroliner 3000 by Vogler Studio two years ago with the first generation of
dimmable windows. The second generation of this solution is currently in production for two new main train projects.
In
addition to the above information, Vision Systems confirmed at Innotrans that they were working on other high volume train projects
with major commuter train manufacturers and operators.
AGC
at InnoTrans
AGC,
a leading Tier 1 supplier of transparencies to the rail industry for over 50 years and licensee of Research Frontiers’ SPD-SmartGlass
technology, is also prominently featuring SPD-SmartGlass EDWs. In a recent article entitled AGC at Innotrans with smart glass
for transportation, it was noted; “AGC’s booth will feature AGC’s smart glasses for transportation… Wonderlite
light control glazing, that switches from clear to dark at the simple touch of a button.” Wonderlite is AGC’s brand
name for its SPD-SmartGlass EDWs. (AGC has also developed Wonderlite for the automotive industry)
Vision
Systems also has a presence at AGC’s Innotrans booth. AGC is presenting a complete passenger window integrating Vision Systems’
SPD-SmartGlass dimmable solution.
AGC
Rail Industry Projects
In
an AGC news release last year, the company announced that its “…light control glass, WONDERLITE, has been adopted
for JR East luxury sleeper train, Train Suite Shiki-shima… the front carriage, containing a special area for enjoying panoramic
views of Japan’s landscape, has been outfitted with WONDERLITE light control glass, which makes it possible to adjust passing
sunlight simply with a switch…The train embarked on its maiden journey on 1 May <2017> and seats have already been
booked up until March 2018.”
Continental
Corporation at InnoTrans
Continental,
in a September 18 press release, indicated that “At InnoTrans, Continental will unveil a number of new innovations, including
an intelligent technology for darkening glass panes and a range of individual surface designs…. The ‘Intelligent
Glass Control’ (IGC) system by Continental provides passengers with the flexibility to adjust the amount of light and the
color of their window or other glazed areas to suit their needs. The technology, which was originally developed for the automotive
industry, relies on a film sandwiched between two panes of glass and connected to an electronic control unit (ECU).”
Global
Rail News published an article about Continental at Innotrans, noting; “The level of transparency… of the glass can
be adjusted via a control system, which can be programmed to respond to external conditions, such as sensor data on sunlight intensity.”
Other
SPD-SmartGlass Rail Industry Projects
Numerous
rail industry projects are in development and not being disclosed publicly. However, some information is starting to emerge. For
example, this month, in the article “What’s inside dome car number two?” published in Railway Age magazine,
the SPD-SmartGlass EDW feature on the “GoldLeaf” cars (to be produced by Stadler Rail) for the new Rocky Mountaineer
train entering service in North America was highlighted: “The GoldLeaf dome cars are scheduled for regular service with
the beginning of the next season…. Large dimmable panoramic windows provide an unobstructed view and can be adjusted in
tint according to outside ambient lighting conditions.”
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.