BERLIN, April 1, 2014 (GLOBE NEWSWIRE) -- Today, a panel of independent judges at the ID TechEx 2014 Energy Harvesting Europe conference awarded Research Frontiers (Nasdaq:REFR) and its patented SPD-SmartGlass light control technology the "Best Application of Energy Harvesting" award. This award was presented at the Energy Harvesting & Storage Europe 2014 conference in Berlin Germany being held April 1-2, 2014.
As noted by ID TechEx: "This is the award given to an actual commercial success with an end-product using Energy Harvesting (in the last 24 months, April 2012 - April 2014). Judges look for success in terms of products sold and revenues generated."
Joseph M. Harary, Research Frontiers' President and CEO, thanked the judges for this honor and noted at today's awards ceremony: "Energy Harvesting is strategically important. As you will hear in my keynote presentation for the Smart Glass segment of this conference tomorrow, most of the world's construction is occurring in China, Europe and the United States which together consume 54% of the world's energy. Of this, over 40% of this energy (and 73% of electricity) is being consumed by buildings. By helping to save energy used for heating, cooling and lighting, SPD-SmartGlass windows can have a beneficial impact on total energy consumption around the world."SPD-Smart windows have the ability to block heat in the summer and allow it inside in the winter to reduce heating and cooling energy requirements, as well as making occupants more comfortable by keeping a steady pre-selected level of light and temperature while blocking harmful UV all of the time. By more effectively controlling daylighting, SPD-Smart windows also allow "daylight harvesting" which some independent sources estimate can save 35%-60% on lighting energy. With the growing pressure to ease the energy use of buildings, many expect it to be a cornerstone of intelligent building design for many years to come. Because SPD-SmartGlass can be retrofitted to existing structures, even existing building stock can benefit from this green technology.