Gauzy’s $7 Million Financing Enables Restart of SPD-SmartGlass Production, Fulfillment of Customer Backlog, Introduction of New Products and Expansion of Global Market Opportunities for Research Frontiers
WOODBURY, N.Y., Oct. 19, 2026 -- Research Frontiers Inc. (Nasdaq: REFR), the developer and licensor of patented SPD-SmartGlass technology, today outlined the significance of the completion of a $7 million equity financing by its licensee Gauzy Ltd. (Nasdaq: GAUZ). The financing, led by Gauzy CEO Eyal Peso and other investors, supports the resumption of SPD-SmartGlass production and renewed momentum in existing customer programs, advanced product development and new markets.
The financing closed on October 15, 2026, following Israeli court approval of Gauzy’s comprehensive settlement addressing approximately $61 million of pre-petition liabilities. In Gauzy’s announcement, Eyal Peso expressed his personal commitment to Gauzy and confidence in its technology, customers and long-term growth strategy, and said the company could now “turn our full attention to executing on our backlog” across the architecture, automotive, aviation and rail markets.
“This is an important turning point for Research Frontiers, our licensees and the global markets for SPD-SmartGlass technology,” said Joseph M. Harary, President and CEO of Research Frontiers. “Gauzy’s completed financing and court-approved settlement provide a foundation for restoring production and rebuilding the commercial momentum that was interrupted by the involuntary court proceedings initiated against Gauzy last November. We are encouraged by Gauzy management’s financial commitment and Eyal Peso’s emphasis on filling customer backlog and serving customers in key industries for our SPD-Smart light control technology.”
Harary continued: “Payments have already begun flowing from Gauzy to support the restart of SPD emulsion production in Israel and SPD light-control film production in Germany. Restoring this supply chain will enable Research Frontiers’ licensees to resume and expand their ability to supply the best-performing electronically dimmable light-control technology to customers in automotive, aircraft, marine and architectural smart glass.”
“One of the most exciting opportunities enabled by the restoration of SPD film production is the advancement of our innovative, first-of-its-kind architectural SPD-SmartGlass retrofit solution. This technology is designed to bring the energy-saving, comfort and light-control benefits of SPD-SmartGlass to existing buildings without requiring removal or replacement of their installed windows. We believe this represents a potentially transformative expansion of the smart glass market. Rather than being limited primarily to new construction and major renovations, SPD-SmartGlass could address the enormous installed base of commercial and residential buildings worldwide. The market opportunity is substantial, and we are excited to resume offering this innovative product to the market.”
“At the same time, we are moving forward with completing development of next-generation black SPD film and other advanced SPD film products. These innovations are intended to broaden the versatility of our technology, expand the applications available to our licensees and create new commercial opportunities.”
“We also see renewed momentum in the transportation market. Automakers continue to develop and introduce advanced electronically dimmable panoramic roofs, windows and other smart-glass applications. In aerospace, SPD-SmartGlass technology has been selected for electronically dimmable window systems on two new OEM aircraft models in North America. Together with continuing opportunities in marine and specialty markets, these programs demonstrate the breadth of the market for our technology.”
“Importantly, we are not starting from scratch. Research Frontiers and its licensees have invested over $100 million in developing our patented technology, building manufacturing capabilities, proving the performance and reliability of SPD-SmartGlass technology, and establishing relationships with leading manufacturers and customers around the world. Gauzy’s financing now allows us to build on that investment, support existing and prospective customer programs, advance new products and pursue meaningful long-term growth and shareholder value.”
Research Frontiers will host an investor conference call in early November to discuss these developments, the restart of SPD-SmartGlass production, new product and market opportunities, and its third-quarter 2026 operating results. The date, time and participation details will be announced separately.
SPD-SmartGlass technology allows users to instantly and precisely control the amount of light, glare and heat passing through glass and other transparent products. Research Frontiers licenses its patented technology to companies around the world serving the automotive, aircraft, marine, architectural and other smart-glass markets.
About Research Frontiers
Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology that 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.
Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements which are based on current expectations. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. Readers are referred to Research Frontiers’ filings with the Securities and Exchange Commission for a discussion of risks and uncertainties affecting Research Frontiers and its business. Research Frontiers undertakes no obligation to update forward-looking statements. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc.
CONTACT:
Joseph M. Harary
President and CEO
Research Frontiers Inc.
+1-516-364-1902
[email protected]