Public Company

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Research Frontiers

Research Frontiers Inc., the developers and licensors of SPD-SmartGlass™, have built an infrastructure of over 40 licensees worldwide that collectively are...

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Research Frontiers

Research Frontiers Inc., the developers and licensors of SPD-SmartGlass™, have built an infrastructure of over 40 licensees worldwide that collectively are capable of serving the growing global demand for smart glass products in automobiles, homes, buildings, aircraft, boats and display applications. In suspended particle devices (SPDs), a thin film laminate of rod-like nano-scale particles is suspended in a liquid and placed in between two pieces of glass or plastic, or attached to one layer. When no voltage is applied, the suspended particles are randomly organized, thus blocking and absorbing light. When voltage is applied, the suspended particles align and let light pass. Varying the voltage of the film varies the orientation of the suspended particles, thereby regulating the tint of the glazing and the amount of light transmitted. SPDs can be manually or automatically "tuned"​ to precisely control the amount of light, glare and heat passing through, reducing the need for air conditioning during the summer months and heating during winter. SmartGlass can be controlled through a variety of mediums, such as automatic photosensors and motion detectors, smartphone applications, integration with intelligent building and vehicle systems, knobs or light switches. SPD-SmartGlass light-control technology increases a user's control over their environment, provides for better user comfort and well-being and improves energy efficiency. The technology provides over 99% UV blockage and instant switching in 1 to 3 seconds. In cars, the range of light transmission for the technology is 50-60 times darker than a typical sunroof to twice as clear as an ordinary sunroof. Published data by Mercedes-Benz shows that SPD-SmartGlass technology can reduce cabin temperatures inside a vehicle by 18°F (10°C). Other advantages include reduction of carbon emissions and the elimination of a need for expensive window dressings.

General information

Firm type

Public Company

Year founded

1965

Location

Region

North America

Country

United States

City

Woodbury

Corporate office

Woodbury, NY, United States

Principals

Joseph M. Harary

President and CEO

Sector focus

Materials TechnologyAutomotiveArchitecture

Frequently asked questions

How does Research Frontiers make money without manufacturing glass?

Research Frontiers operates a pure IP-licensing model. It owns foundational patents on suspended particle device (SPD) light-control technology. The company earns revenue primarily through royalties, technology fees, and minimum annual payments from roughly 40 licensed manufacturers — these licensees embed SPD film into end products like automotive sunroofs and architectural windows (per the firm's public filings).

Who runs investment and strategic decisions at Research Frontiers?

Joseph M. Harary has served as President and CEO since 1992. Harary directs the company's licensing strategy, patent-enforcement actions, and licensee relationships. He is the dominant executive voice; the company reports fewer than 10 total employees, meaning strategic decisions are concentrated in the CEO's office.

Which sectors or applications currently embed Research Frontiers' technology?

Three primary verticals: automotive (SPD-SmartGlass sunroofs on select McLaren and Ferrari models), aerospace (cabin window dimming on Dassault Falcon jets and certain commercial-aircraft applications), and architecture (electronically tintable facades, such as the W Hotel in New York and newly planned projects in the Middle East).

How does the competitive landscape for switchable glass affect the company?

SPD-SmartGlass competes directly with electrochromic technologies from firms such as View Inc. and Halio. SPD offers faster switching speeds and a true blackout state, while electrochromic systems rely on slower ionic shifts between clear and tinted states. All switchable glass suppliers face a common headwind: the construction and automotive industries' historically slow adoption of premium variable-tint glazing.

Is Research Frontiers a public or a private entity, and how can an investor gain exposure?

Research Frontiers is a publicly traded company on the Nasdaq exchange under the ticker REFR. There is no closed fund structure. Any institutional or individual investor can purchase common equity directly. The company has never paid a dividend, reinvesting available cash into patent maintenance and lightweight R&D.

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