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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): June 11, 2009
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RESEARCH FRONTIERS INCORPORATED
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-9399 11-2103466
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (IRS EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
240 CROSSWAYS PARK DRIVE
WOODBURY, NEW YORK 11797-2033
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (516) 364-1902
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure
On June 11, 2009, Research Frontiers Inc. held its Annual Meeting of
Stockholders. At the meeting, presentations were made by Research
Frontiers and senior executives at its licensees DIC International,
Innovative Glass Corp., LTI SmartGlass, Inc., and SPD Control Systems
Corp.
At its Annual Meeting of Shareholders, Research Frontiers Inc. announced
the results of independent testing regarding the energy efficiency
of SPD-Smart windows.
Test results indicate that SPD-Smart windows have extraordinary solar
heat rejection and control capabilities. The tests were conducted by
DSET Laboratories, a division of Atlas Material Testing Technology, in
accordance with ASTM and ASHRAE testing and calculation protocols.
"The energy efficiency of window products is of great importance in today's
world," commented Joseph M. Harary, President and CEO of Research Frontiers.
"SPD-Smart products instantly give users the ability to control the amount of
light, glare and heat entering a home, building, aircraft, boat or automobile.
When compared to published data about the energy efficiency and other
performance characteristics of all other types of windows offered for the
architectural market - including other smart window technologies - we find
none comparable to SPD-Smart windows."
The United States Department of Energy estimates that tintable smart windows
can save building operators up to 40% on their energy bills, reduce the size of
HVAC systems by as much as 25%,and reduce building operating costs by up to 20%.
To maximize these dramatic savings, a smart window must be able to both reject
and variably control the transmission of solar heat as well as visible light.
The testing of one type of SPD-Smart window indicates broad range in the amount
of solar energy that can be instantly regulated. This type of window can reject
87% of the sun's heat or allow 57% of it to be transmitted. The range of heat
control is the largest known of any window ever offered. Such performance can
reduce cooling and heating costs particularly in northern climates by rejecting
heat in the summer and transmitting heat in the winter. This window also has a
very wide range of visible light transmission with a contrast ratio (the ratio
of the darkest to the lightest states of the variable tint) exceeding 100:1.
In warmer regions, maximizing heat rejection lowers cooling costs. Test results
on another type of SPD-Smart window, configured for these sunnier regions,
indicate that up to 94% of heat from the sun can be blocked from entering,
a level of efficiency unequalled by any other window offered today.
At the Research Frontiers Annual Meeting, Joseph M. Harary gave a presentation
on windows and energy efficiency, and provided highlights of the independent
test results. This presentation is available at:
www.smartglass.com/upload/RFI_Presentation.pdf.
In addition to energy savings due to heat rejection and control, SPD-Smart
windows offer additional energy saving capabilities for homeowners and building
operators.One such area is "daylight harvesting" which involves the introduction
of natural light to a building's interior, thereby reducing the energy used for
artificial lighting. Buildings account for an estimated 40% of the U.S.'s total
energy consumption and represent important targets for substantial gains in
energy efficiency. According to the New Buildings Institute, efficient daylight
harvesting can lead to annual savings on lighting energy of 35%-60%. With
approximately 14% of the energy used in the U.S. going towards interior
lighting, this translates into estimated annual savings on energy used for
interior illumination of between $20-$35 billion in the U.S. alone. SPD-Smart
windows offer superior daylight harvesting potential as compared to conventional
window systems because of their variable light-control properties that can
minimize artificial lighting needs and thus energy use.Gregory M. Sottile,
Ph.D., Director of Market Development for Research Frontiers, and John
Petraglia, CEO and President of licensee SPD Control Systems Corporation,
jointly gave a presentation about the need for, and design of, daylight
harvesting systems using SPD-SmartGlass which is available at:
www.smartglass.com/upload/Daylight_Harvesting.pdf.
Also presenting at the Annual Meeting were several other licensees of
Research Frontiers. Jeff Besse, President of LTI SmartGlass, Inc., provided an
overview of the company's expansion, including the construction of a new 90,000
square foot production facility and showroom in Pittsfield, Massachusetts.
This new plant increases LTI's production capacity to more than 23,000 square
feet of glass per week. Mr. Besse talked about the collaborative work LTI is
doing with other Research Frontiers licensees and LTI's ability to supply them
with large volumes of laminated SPD-SmartGlass. Mr. Besse's presentation is
available at: www.smartglass.com/upload/LTI_Presentation.pdf.
Tony Pirro,Vice President of DIC International (USA),Inc., presented an overview
of his company's SPD emulsion production, supply and marketing programs.
Currently DIC is supplying SPD emulsion to another Research Frontiers licensee,
Isoclima S.p.A. This emulsion is coated into an SPD light-control film by
Isoclima, which is now offering SPD-Smart end-products to various industries.
Mr. Pirro also noted a recent expansion - DIC International (USA) has begun to
market Isoclima SPD-Smart CromaLite(tm) glass and polycarbonate panels in
the U.S.
Steve Abadi, Chairman and CEO of licensee Innovative Glass Corp., discussed a
number of projects for its SPD-SmartGlass for interior and exterior
architectural applications, and noted two significant developments related
to these projects: the successful fabrication of large windows measuring
6 feet wide by 9 feet tall, and also the ability to retrofit existing windows
to make them SPD-Smart. Innovative Glass expects details of these projects
to be announced by them or their customers.
Mr. Harary also announced a new collaborative marketing program, with licensees
InspecTech Aero Service and Hitachi Chemical, to expand market penetration
in theSPD aerospace application. Aircraft manufacturer Hawker Beechcraft
Corporation is now selling InspecTech's SPD-Smart I-Shades(tm), the world's
most advanced light-control aircraft cabin window shades, for all models of
its King Air aircraft,of which there are 6,200 flying today. To support this
effort, Mr. Harary demonstrated the I-Shade (which is also currently being
used in the A380 aircraft recently delivered by Airbus to airline customer
Qantas Airlines) and previewed the marketing program's first magazine
advertisement for King Air I-Shades, scheduled for July.
Visitors at the Research Frontiers Annual Meeting were also able to see
SPD-SmartGlass powered by photovoltaics, and experience first-hand how
SPD-SmartGlass is used in automotive applications by sitting in a Cadillac
CTS test vehicle equipped with two large SPD-Smart sunroofs and multiple
SPD-Smart sunvisors that block glare and regulate the amount of heat and
light coming into the vehicle. Guests were then invited back to Research
Frontiers' new SPD-SmartGlass Design Center and Interactive Exhibit to
experience large SPD-Smart architectural windows.
Research Frontiers' Press Release is attached hereto as an exhibit
and is also available on the Company's web site at www.SmartGlass.com.
This report and the press release referred to hereing may include
statements that may constitute "forward-looking" statements as referenced
in the Private Securities Litigation Reform Act of 1995. Those statements
usually contain words such as "believe", "estimate", "project", "intend",
"expect", or similar expressions. Any forward-looking statements are
made by the Company in good faith, pursuant to the safe-harbor
provisions of the Act. These forward-looking statements reflect
management's current views and projections regarding economic
conditions, industry environments and Company performance. Factors,
which could significantly change results, include but are not
limited to: sales performance, expense levels, competitive activity,
interest rates, changes in the Company's financial condition and
several business factors. Additional information regarding these
and other factors may be included in the Company's quarterly 10-Q
and 10K filings and other public documents, copies of which are
available from the Company on request. By making these
forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the
date of this report.
The information in this Form 8-K or the press release filed as an
exhibit hereto shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934,
nor shall they be deemed incorporated by reference in any filing
under the Securities Act of 1933, except as shall be expressly
set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RESEARCH FRONTIERS INCORPORATED
/s/ Joseph M. Harary
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By: Joseph M. Harary
Title: President
Dated: June 11, 2009