-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OMYpoMFH6af3vJ976Ox2iJf4xo2+Mktj4osejKb/h1zfK23yTEZTqMvxU+MJgdO9 0j5Sz4G+ZrzI05AwloQgig== 0000793524-09-000029.txt : 20091216 0000793524-09-000029.hdr.sgml : 20091216 20091216134623 ACCESSION NUMBER: 0000793524-09-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091216 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20091216 DATE AS OF CHANGE: 20091216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RESEARCH FRONTIERS INC CENTRAL INDEX KEY: 0000793524 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 112103466 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09399 FILM NUMBER: 091244019 BUSINESS ADDRESS: STREET 1: 240 CROSSWAYS PARK DR CITY: WOODBURY STATE: NY ZIP: 11797-2033 BUSINESS PHONE: 5163641902 MAIL ADDRESS: STREET 1: 240 CROSSWAYS PARK DR CITY: WOODBURY STATE: NY ZIP: 11797-2033 8-K 1 form8krfi121609.txt RESEARCH FRONTIERS CURRENT REPORT ON FORM 8-K DATED DECEMBER 16, 2009 ===================================================================== SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------- FORM 8-K ---------------------- CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): December 16, 2009 ---------------------- 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)) ===================================================================== Item 7.01 Regulation FD Disclosure Research Frontiers'licensee Hitachi Chemical Company, Ltd. issued a press release on BusinessWire today (December 16, 2009) which announced details about its new production facility and the expansion of its production capacity for roll-coated, wide-width suspended particle device (SPD) light-control film. Hitachi Chemical is now supplying commercially usable film to end-product licensees of Research Frontiers for the automotive, architectural, marine and aircraft markets. With its newly completed coating line dedicated to production of SPD film, Hitachi Chemical reports that it has expanded its production capacity of SPD film to 400,000 square meters (4.3 million square feet) per year. SPD-Smart(TM) products use patented SPD film technology developed by Research Frontiers. With the touch of a button or turn of a dial, users can instantly and precisely adjust the tint of windows, sunroofs, glass roof systems, skylights and other products. Automated adjustment of SPD-Smart products also is available using sensors or timing devices. SPD films can be combined with other glazing materials, such as those used in armored glass, to meet a wide range of end-product requirements across many applications. Because they instantly and precisely control incoming light and heat, SPD-Smart products offer energy saving benefits because they can manage solar heat build-up and lower energy used for artificial lighting. In its press release, Hitachi Chemical highlighted the growing demand for smart glass and several of the advantages offered by SPD film technology when compared to other switchable materials such as liquid crystals and electrochromics. Customers for Hitachi Chemical's SPD film are end-product licensees of Research Frontiers around the world. These companies receive the film, laminate it into glass or plastic, and then fabricate end-products sold into various industries. End-product licensees pay Research Frontiers a royalty on the sale of these end-products that typically ranges from 10-15%. Hitachi Chemical reports in its press release that it plans to "accelerate the use of SPD film, which holds significant potential for growth" and notes that "SPD film is positioned as one of the key emerging products promoted by Hitachi Chemical to become a future leading product for the company." Hitachi Chemical gave a presentation to analysts dated October 30, 2009 on the company's performance during the first half of the year and highlighted management issues for the second half. In that presentation, Hitachi Chemical noted that it is projecting SPD film sales of 5 billion yen ($53.4 million) in 2012. Hitachi Chemical's press release about the foregoing dated December 16, 2009 is incorporated herein by reference and filed as Exhibit 99.1 hereto. A copy of this press release is available on the Company's website at http://www.SmartGlass.com and is also expected to be available on the Hitachi Chemical Co., Ltd. website at http://www.hitachi-chem.co.jp. The Hitachi Chemical presentation is also available on the Hitachi Chemical Company's website at: http://www.hitachi-chem.co.jp//english/ir/accounts/2009_2q/2009_2q_tn.pdf This report, and Hitachi Chemical's press release and the presentation referred to herein 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 10-K 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, and Hitachi Chemical's press release and the presentation referred to herein 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. Item 9.01. Financial Statements and Exhibits. (c) Exhibits. 99.1 Hitachi Chemical Company Press Release dated December 16, 2009 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 --------------------------- By: Joseph M. Harary Title: President Dated: December 16, 2009 EX-99 2 ex99.txt HITACHI CHEMICAL PRESS RELEASE DATED DECEMBER 16, 2009 Hitachi Chemical Commences Mass Production of "SPD Film" Whose Light Transmittance is Controlled by Adjusting AC Voltage - -Diverse global applications expected for automobiles, aircraft, buildings, etc. (Original News Release in Japanese Dated July 21st, 2009, TOKYO JAPAN) CUPERTINO (December 16,2009) - Hitachi Chemical Co., Ltd. (Head Office: Tokyo; President and CEO: Kazuyuki Tanaka; Paid-in Capital: 15.5 billion yen, hereinafter "Hitachi Chemical") introduced the SPD (Suspended Particle Device) light-control film technology from New York based Research Frontiers Inc. (Nasdaq: REFR), and commercialized a roll-coated, wide-width SPD film whose light transmittance can be freely controlled by simply adjusting AC voltage. The film achieves this by utilizing its proprietary technologies including resin synthesis technology, film coating technology, and size control technology for adjusting the size of light-control particles based on nanotechnology. Hitachi Chemical began mass production of SPD film in July 2009 and is supplying commercially usable film to end-product licensees of Research Frontiers for the automotive, architectural, marine and aircraft markets. With its newly completed coating line dedicated to production of SPD film, Hitachi Chemical has expanded its production capacity of SPD film to 400,000m2/year. In recent years, the market for light-control glass has expanded due to the increasing demands for energy efficiency and heat and light control, automated shading, privacy, and design and engineering innovation. SPD film is laminated between panes of glass or plastic to produce various dynamic light-control products including windows, doors, skylights, atria and sunroofs. As a durable laminate, it is available in many sizes, fabrications and shapes, and can be used on curved surfaces. Other light-control technologies include liquid crystal and electrochromic devices. However, with liquid crystal technology, it is difficult to tune the level between white and transparent, and typically little shading benefit is offered. Electrochromic devices have problems of relatively slow and inconsistent response speed, difficulty in achieving larger sizes, and limitations to the substrates that it can be used with, and restrictions on the number of available light-control states. For these reasons and others, there is growing demand for "smart" products that can be made in a large size and can enable freedom in quickly controlling light transmittance. Therefore, Hitachi Chemical has developed the volume production method for SPD film based on its own unique polymer synthesis technologies and resin technologies, which adjusts the size of light-control particles base on nanotechnologies. It has succeeded in commercializing its SPD film to the world market. The SPD film consists of two polyethylene terephthalate (PET) films coated with a transparent conductive layer, and matrix resin dispersed with microcapsules containing orientative particles sandwiched between two films. The principle of light control is that when alternate voltage is applied to the orientative particles, they become oriented and transparent. When the AC voltage is not applied, the particles are not oriented so that their color is dark blue, thus shielding light. The color tone can be changed from dark blue to transparent to freely control the light transmittance. Its power consumption is as low as 1.1 W/m2. A wide range of applications of SPD film are expected, including the application to buildings such as Indiana University in the USA (refer to Reference, an example of application of "SPD film"), and windows of boats and aircrafts, which have been already realized. Future potential applications include automotives, home electric appliances, and partitions.) Hitachi Chemical will strive to accelerate the use of SPD film, which holds significant potential for growth. SPD film is positioned as one of the key emerging products promoted by Hitachi Chemical to become a future leading product for the company. <> Example of application of "SPD film": Indiana University of USA (Research Frontiers licensee Innovative Glass Corporation (USA) produced 68 light-control exterior and interior windows and partitions.) [Image of Project Omitted from Electronically Filed Version of Press Release] -----END PRIVACY-ENHANCED MESSAGE-----