Research Frontiers' SPD-SmartGlass Licensed to Hanamac for the Korean Automotive Aftermarket to Save Energy and to Make Cars
More Comfortable and Secure
WOODBURY, NY--(Marketwired - May 2, 2017) - Research Frontiers (NASDAQ: REFR) and Hanamac International Ltd. announced today
that Hanamac has acquired a license from Research Frontiers Inc. to produce and sell SPD-SmartGlass automotive windows for the
South Korean aftermarket. The non-exclusive license provides for a 10% royalty to Research Frontiers on sales of licensed
SPD-SmartGlass products. The minimum annual royalties and other fees and license terms were not disclosed.
Min Choi, President of Hanamac, noted: "We evaluated numerous technologies to bring the best-in-class smart window to the
South Korean automotive market. SPD-SmartGlass had the best performance, and the best demonstrated reliability, in the automotive
market. It allows the instant switching of tint, unparalleled heat and light control, and enhanced security inside the vehicle.
Working with Research Frontiers, we have developed an approach that should make it much easier and less expensive for car owners
to upgrade cars with this remarkable glass in the aftermarket."
Joseph M. Harary, President and CEO of Research Frontiers, noted: "Hanamac has a long history of introducing new and
innovative technology-based products to the South Korean market. We worked closely with their team as part of their initial
market and product development efforts, and were particularly impressed with the solutions they developed to make it easier for
the consumer to upgrade their vehicles with high-quality SPD-SmartGlass windows across a growing installation and distribution
network in South Korea."
The SPD-SmartGlass technology being used by Hanamac is the same best-selling smart window technology that can be found on
various car models from Daimler. The MAGIC SKY CONTROL feature, which is now in use on tens of thousands of Mercedes-Benz SLs,
SLKs, Maybach and S-Class models around the world, 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.
About Hanamac International Ltd.
Hanamac International has introduced and marketed innovative and technology-based product to the architectural, defense,
aerospace and power generation industries in Korea for over 30 years.
About Research Frontiers Inc.
Research Frontiers is the developer of SPD-Smart light-control technology, the world's best-selling smart window
technology, which allows users to instantly, precisely and uniformly control the shading of glass or plastic, either manually or
automatically. Research Frontiers has built an infrastructure of over 40 licensed companies that collectively are capable of
serving the growing global demand for smart glass products in automobiles, homes, buildings, museums, aircraft and boats. For
more information, please visit our website at www.SmartGlass.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 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. "MAGIC SKY CONTROL" and "Mercedes-Benz" are trademarks of Daimler AG.