Tel Aviv, Israel and Woodbury, New York, April 23, 2020 (GLOBE NEWSWIRE) — The COVID-19 pandemic’s global reach has touched countless lives, along with the economic and investment ecosystem in Israel and worldwide. Despite the current crisis, Gauzy Ltd, a material science startup based in Tel Aviv, Israel has secured the Series C investment from Hyundai Motor Company, Blue Red Partners VC, and Avery Dennison. Gauzy is a strategic investor and licensee of Research Frontiers (Nasdaq: REFR), which is the inventor of patented SPD-SmartGlass light control technology.
Gauzy has been collaborating with industrial players to integrate Gauzy’s LCG® (light control glass) technologies, including SPD (suspended particle device) and LC (Liquid Crystal), into the serial production of various types of products. Both technologies allow for dynamic and user-controlled light control. SPD provides the ultimate light control solution – comfortable, safe, and energy efficient. LC technologies are used for privacy, solar reflection, and displays that turn transparent for smart mobility solutions.In February of 2019, Gauzy announced on NASDAQ a strategic investment in Research Frontiers (Nasdaq: REFR) and its plans to develop and manufacture SPD. Throughout the year, Gauzy established the infrastructure required to create its SPD technology. This includes erecting a state-of-the-art material synthesis facility in Israel, and a custom SPD production line strategically located in Germany (Stuttgart) as part of Gauzy’s subsidiary company, Gauzy GmbH. These two facilities are currently operating and producing SPD emulsion and light control film for the automotive, aircraft, and architectural industries, with modified staffing and procedures to protect Gauzy’s employees during the COVID-19 pandemic.On December 5, 2019 Gauzy hosted automotive and tier one executives from around the world at an exclusive event revealing its new proprietary production line set within an 11,000sqm property in Germany. This production site is dedicated to producing 1,000,000sqm of SPD material yearly for the automotive and architectural industries. Gauzy’s state-of-the-art production techniques have brought down the cost of SPD-Smart light control technology significantly, has shortened delivery times to customers, and have added new capabilities and functionality to the world of smart glass.Gauzy is the only material science company in the world currently developing, manufacturing, and marketing two of the three commercial active light control technologies: LC and SPD. The company has a global distribution network of over 60 certified partners worldwide that apply Gauzy’s unique technologies to glass or other transparent substrates, to create LCG (light control glass). SPD and LC technologies allow glass to change from opaque to custom degrees of transparent with electrical input to control various forms of light including UV, IR, and visible light. SPD blocks up to 99.5% of light for custom shading while maintaining a view of surroundings. It can be used to replace mechanical shading elements in buildings and vehicles.Eyal Peso, Gauzy’s CEO, says “We are proud to announce this investment that comes at a hard time and also comes to show the depth of the confidence the investors have in Gauzy and its technologies. We have been working closely with industrial players over the years to develop for series production, and the investment will help Gauzy step up its efforts in the delivery of its products all over the world.”This Series C investment allows Gauzy to continue its mission of developing and leading the active light control technology market. With continued advancement in product development and of resources for high volume production, LCG technology and active glazing is more accessible for serial implementation by industrial players.Joseph M. Harary, President and CEO of Research Frontiers noted: “This Series C investment round by Gauzy is significant in many respects. This strategic investment marks the first known equity investment by an automotive OEM in our entire industry. While it certainly benefits the investors in Gauzy, and Research Frontiers, it also benefits all of our licensees and their customers in the automotive, aircraft, marine, architectural and consumer products industries worldwide. It is the result of a highly focused and collaborative effort by key companies in the material science, glass, technology and automotive industries.”About Gauzy:
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