SmartGlass Producer Receives $6.65 Million

A group of investors has granted $6.65 million to Research Frontiers Inc., the developer of switchable light-control film technology. The company reports it will use the funds to expand its operations, including increased marketing of its technology and products using its suspended particle device technology, and for working capital and general corporate purposes.

In the window industry, the company’s VaryFast SPD-Smart technology allows a user to manually or automatically “tune” the amount of light, heat and glare coming into a home, building or vehicle. The film also has applications in the aircraft and marine industries and it can be used to produce variable tint eyewear such as sunglasses or ski goggles.

Within the last few weeks, the company announced that its licensee Hitachi Chemical Co. Ltd. started shipping wide SPD-Smart light-control film from its newest coating line in Japan, and Raytheon Co. added the technology to its Beechcraft King Air aircraft. “These milestone events for the SPD industry have created great opportunities for Research Frontiers and its licensees around the world,” says Joseph Harary, president. “The financing raised will permit Research Frontiers to more aggressively pursue these opportunities, and continue to build value in our business and that of our licensees.”

Research Frontiers, based in Woodbury, NY, says it currently has 34 licensees with rights to the technology.