REFR Research Frontiers Inc

Gauzy Ltd. (Nasdaq: GAUZ), a global leader in light and vision control technology, is pleased to announce that it has unveiled its latest suspended particle device (SPD) Smart Glass technology at CES 2025, the most influential tech event in the world. Gauzy’s first-ever black SPD Smart Glass technology has a distinguishable black appearance and was created to accommodate the robust demand from the three strong and growing markets that the company targets – the automotive, aeronautics, and architecture industries – for a dark and neutral colored dimmable glass that enhances design while supporting visual and thermal comfort. This new product has been developed to continue offering the same appreciated performance of the existing SPD products sold by Gauzy and currently adopted in the market, while offering the neutral black color the market has requested. Gauzy expects the black SPD product to be available for commercial orders and serial production in the future.

This latest innovation positions Gauzy to further solidify its already dominant market share within the smart glass industry. The popularity of SPD Smart Glass – as well as polymer dispersed liquid crystal (PDLC) Smart Glass, which the company also develops and manufactures – continues to rise due to its numerous advantages over traditional shading systems and other smart glass solutions, including its ability to transition from clear to fully opaque within seconds, block more than 99% of visible light, reduce energy consumption, regulate temperature control, increase headroom in vehicles by at least two inches, extend driving ranges in electric vehicles, and its ability to be retrofitted to existing structures, vehicles, aircraft, among other strategic benefits. As a result, the SPD Smart Glass market is expected to grow at a compound annual growth rate of 9.9% from 2024-2031, reaching $13.4 billion in value by the end of 2031.

“Over the last few quarters, many of our high-profile customers across the automotive, aeronautics, and architecture sectors have expressed their desire for SPD Smart Glass with a black appearance, and we are thrilled to unveil it at CES 2025,” stated Eyal Peso, CEO of Gauzy. “Our ability to work expeditiously to innovate and create a solution that the market demands reflects the sophistication of our research and development capabilities and exemplifies why we continue to grow and solidify our competitive position in light control. We believe this new offering and its darker aesthetics will broaden the number of users who implement Smart Glass into their designs going forward, and we anticipate that it will quickly become one of our top-selling SPD products.”

The new black SPD Smart Glass technology by Gauzy will be on display throughout the duration of CES at Gauzy’s Booth #6516 in the Automotive West Hall. Gauzy invites all CES attendees to stop by and experience the many features of SPD technology and discover why a growing number of world-renowned OEMs like Ferrari, McLaren, Mercedes, and Cadillac have chosen to incorporate SPD into their automotive designs in serial production.

Joseph M. Harary, President and CEO of Research Frontiers (Nasdaq: REFR), commented from CES: “SPD is the best performing instantly switchable smart glass solution for shading and has become extremely popular with its existing color for sky facing applications such as sunroofs and skylights. As our market penetration expands to vertically-oriented glass on the side of cars and buildings, this new development being shown today with a more neutral color is impactful. This new capability to offer a black SPD-Smart Glass product, along with Gauzy’s Solar Powered smart glass innovation and the recent announcement of the retrofit application for our smart glass, will make it easier and more cost effective to install smart windows in homes, apartments and office buildings.”

Gauzy is also showcasing several other of its groundbreaking solutions at its booth at the world’s most powerful tech event, including introducing its newly-announced Solar Powered LCG® for the first time in the U.S. This transformative technology redefines the capabilities of smart glass. By embedding Gauzy’s LCG® PDLC and SPD technologies with transparent solar cells, Gauzy enables smart glass to harvest energy from the sun. This integration of solar cells with Gauzy’s light control technologies allows the panels to generate and harvest electricity that can be used to power electrical devices within a vehicle or building, including the smart glass system itself, providing an alternative source of energy that can contribute to reduced operating costs and increased sustainability and energy efficiency initiatives across industries.

Moreover, additional light and vision control products of Gauzy’s that increase safety, comfort and sustainability are on display in the company’s booth, including smart glass sunroofs, side door windows and sun visors with either SPD or PDLC technology, its AI-powered advanced driver assistance system (ADAS) Smart-Vision® for buses and trucks; a 55" LG Display T-OLED with segmented SPD and smart glass and shading solutions for commercial and private aircraft as well as railway.

About GauzyGauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 30 countries through direct fulfillment and a certified and trained distribution channel.

About Research FrontiersResearch 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 numerous 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.

Forward-Looking StatementsThis press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.

IR and Media Contact Info

Media:Brittany Kleiman SwisaGauzy Ltd.press@gauzy.com

Investors:Dan Scott, ICR Inc.ir@gauzy.com