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.
"SPD-SmartGlass is an extraordinary innovation that uniquely addresses shading, privacy and security requirements in buildings and vehicles," said Vladimir Chuvaev, CEO and Founder of Advnanotech. "Advnanotech is a glass fabrication company with experience in the production of electroluminescent panels and liquid crystal products. We have a network of representatives in Russia working closely with our customers, which include government agencies and construction companies. Our customers have shown strong interest in SPD-SmartGlass for both architectural and automotive applications, and we see substantial sales potential in our region."Joseph M. Harary, President and CEO of Research Frontiers, commented: "We welcome the team at Advnanotech to the SPD industry. Sales of SPD-Smart products are leading to increasing visibility and global awareness of SPD technology and its performance advantages, and Advnanotech is well-positioned to offer SPD-Smart architectural and automotive products. As recent events have shown, we have received strong interest from the Russian market and look forward to Advnanotech's success there." For information about Advnanotech, please visit their website or contact:
|Gregory M. Sottile, Ph.D.|
|Director of Market Development|
|Research Frontiers Inc.|
Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. "SPD-Smart" and "SPD-SmartGlass" are trademarks of Research Frontiers Inc.The Research Frontiers Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6935 The Advnanotech LLC company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17529