Woodbury, NY--Research Frontiers (Nasdaq: REFR) has raised $825,000 in new capital, adding to the $2.5 million it raised less than two weeks ago. Research Frontiers is the developer and licensor of suspended-particle-device (SPD) light-control film technology, which allows the optical transmission of glass to be electrically controlled with rapid response (unlike electrochromic control, which is relatively slow).
"Our business has been expanding and we are pleased that our investors have increased their support for our efforts by making this additional investment," said Joseph M. Harary, president and CEO of Research Frontiers. "It further strengthens our balance sheet, which has remained free of debt since our initial public offering in 1986."
The company's light-control film technology can be used in windows (residential, automotive, marine, and aircraft) and partitions to allow users to quickly and continuously control the entering light, glare, and heat. Potential future applications include eyewear such as sunglasses, ski goggles, and motorcycle helmets; mirrors; displays; and light-control filters for various industrial, energy, and consumer applications.
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