WOODBURY, N.Y. and MOSCOW, March 11, 2013 (GLOBE NEWSWIRE) -- Advnanotech LLC has acquired a license from Research Frontiers Inc. (Nasdaq:REFR), the developer and licensor of patented SPD-Smart light-control film technology. The non-exclusive license grants Advnanotech the right to manufacture and sell SPD-Smart architectural and automotive products in Russia.
The license provides for a 15% royalty to Research Frontiers on sales of licensed SPD-Smart products including architectural windows, doors, skylights and partitions, and automotive sunroofs and side and rear window panes. The minimum annual royalties and other fees and license terms were not disclosed.
SPD-Smart technology is the world's fastest-switching variably tintable dynamic glazing technology. It is the only smart glass technology that gives users the ability to instantly and precisely control the level of shading to any point between very dark and clear. This provides exceptional control over solar energy while also adding to user comfort and protecting interiors. Available in both glass and lightweight polycarbonate substrates, SPD-Smart products are laminated glazings that offer a distinctive combination of energy efficiency and security, can be controlled manually or automatically, and are available in custom sizes and fabrications for original equipment, new construction, replacement and retrofit projects. SPD-SmartGlass is currently being used in the automotive, architectural, aircraft and marine industries.