REFR Research Frontiers Inc

Research Frontiers Inc. (Nasdaq: REFR), the inventor and licensor of patented SPD-Smart film light-control technology, and AIT Group, a fully-integrated premier manufacturer of advanced functional glass solutions, and licensee of Research Frontiers’ technology, announced today the introduction of a breakthrough retrofittable SPD-SmartGlass window. Introducing the Thermolite RetroWAL SPD system! This innovative product will be unveiled for the first time at the AIA Expo 2024 in Washington, DC, from June 6-7, 2024, at Booth 720.

Imagine a light-control film laminated inside of glass or plastic that allows users to instantly change the film’s tint from clear to dark or any state in between. This can be done at the touch of a button, speaking to a smart device (e.g. Alexa), in response to commonly-used sensors such as light, motion, or thermostat sensors, or integrated as part of a building’s control system. This SPD-Smart film uses specially-engineered nanoparticles suspended and distributed throughout the flexible film to accomplish this. While it might sound futuristic, it has been used reliably to replace aircraft window shades since 2001, and has been in tens of thousands of vehicles by Mercedes, McLaren, Cadillac and Ferrari since 2011. It has also been featured in yachts, cruise ships, trains, buses, museums (protecting priceless artwork and collectibles from visible light damage), augmented reality windshields, heads-up displays (HUDs), and architectural applications such as a 10,000 square foot roof at the 2015 World’s Fair in Milan.

Building and vehicle occupants can instantly change the tint of their windows or sunroofs to help keep out harsh sunlight and heat, while at the same time creating an open-air feeling even when the window or 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 interiors cooler, and protecting occupants and interiors while also enhancing security, comfort and privacy. In vehicles such as cars and trains, 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 the 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.

Now, for the first time, this advanced technology is available in a format that can be retrofitted into existing structures. This development is a game-changer for property owners looking to upgrade their buildings with modern, energy-efficient solutions without the need for complete window replacements. AIT Group’s expertise in laminated glass ensures that the retrofitable SPD-SmartGlass windows are durable, aesthetically pleasing, and easy to install.

AIT's Thermolite RetroWAL SPD system revolutionizes the way windows are upgraded. It is now possible to retrofit an existing window to turn it into an SPD-SmartGlass window. The RetroWAL system gives you the ability to turn a window into a wall, save energy, reduce sound transmission, increase occupant comfort, reduce maintenance by eliminating shades and blinds, and preserve views by not blocking them with conventional shading methods.

Jeff Besse, President and CEO of AIT Group, noted, "The patented RetroWAL system has already been successfully demonstrated in government office buildings and offers owners, facility managers, and tenants the ability over the course of a weekend to upgrade the windows in their space with minimal disruption."

Joseph M. Harary, President and CEO of Research Frontiers, added, "The RetroWAL system for SPD-SmartGlass eliminates the need for putting up expensive and disruptive scaffolding whenever you want to upgrade the outer building envelope of a structure to make it smart. This is an evolutionary leap in how SPD-SmartGlass and other glass upgrades to make windows more functional and energy efficient will be implemented in buildings throughout the world. The system also substantially reduces the costs of implementing an electronically dimmable window solution into all types of structures."

Gauzy Ltd., the licensed manufacturer of SPD-Smart light-control film for the SPD-SmartGlass industry, notes the large and growing markets for integrated advanced light control products. According to a recent research report conducted by Frost and Sullivan, the global smart glass market size is expected to reach $124 billion by 2028 and grow at a CAGR of 22.8% from 2023 to 2028, driven primarily by the architecture and mobility markets. Architectural applications are poised to represent a significant growth opportunity as light control technologies are increasingly integrated into new building construction in windows, skylights, and partitions. Approximately 80% of flat glass produced globally has been historically used in building and construction applications. Adoption of smart glass in architectural applications is expected to be driven by the need for on-demand privacy and solar heat control in both new buildings and retrofits within the residential and commercial segments.

From a policy perspective, both the United States and the European Union are working to promote the development of environmentally sustainable technologies such as smart glass. For example, in August 2022, the U.S. Federal Government passed the Dynamic Glass Act which includes meaningful investment tax credits of 30-50% for electrically-controlled variable tint materials. These regulatory incentives are expected to further accelerate the adoption of light control technologies within the architectural markets.

The AIA Expo, held at the Washington Convention Center as part of the prestigious AIA Conference on Architecture & Design, is renowned for showcasing cutting-edge advancements in architecture and building technologies. This year's event provides the perfect platform for the debut of the new category of SPD-SmartGlass windows, designed to retrofit existing homes, offices, hotels, and apartments with patented state-of-the-art SPD-SmartGlass light-control technology. For more information about the AIA Expo 2024, visit https://conferenceonarchitecture.com.

About Research Frontiers

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 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 www.SmartGlass.com, Facebook, Twitter, LinkedIn and YouTube.

About AIT Group

Advanced Impact Technologies Group (AIT Group) with its market focused entities are the market leaders in a variety of areas such as dynamic glazing, physical security, and occupant comfort applications along with offering the highest thermal performance, low carbon products, on the market. This is possible for the group by focusing on producing purposeful end products meeting today’s functional needs by combining unique materials and advanced manufacturing techniques coupled with a commitment to quality and service.

AIT Group is the parent company of LTI SmartGlass, a fully-integrated premier manufacturer of advanced functional glass solutions, and licensee of Research Frontiers’ SPD-Smart film light-control technology,

For more information, please visit RetroWAL.com.

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, especially those reliant on activities by third parties, 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. “Thermolite” and “RetroWAL” are trademarks of AIT Group.

CONTACT:

Jeffrey BessePresident and CEOAIT Group2310 Starkey RdLargo FL 33771+1 413 822 2290jbesse@impactAIT.com

Joseph M. HararyPresident and CEOResearch Frontiers Inc.+1-516-364-1902Info@SmartGlass.com