GLENDALE, California – October 3, 2017 – Avery Dennison Corporation (NYSE:AVY), a global materials science and manufacturing company specializing in the design and manufacture of a wide variety of labeling and functional materials, today said it has made an investment in Gauzy, an Israeli-based developer and manufacturer of liquid-crystal-based materials, films, applications and solutions for a variety of end markets including construction, automotive, consumer electronics, home appliances, the solar industry and more.
Based in Tel Aviv, Israel, Gauzy has successfully commercialized several initial “smart glass” products, including an embedded switchable window film that can alternate from clear and frosted with the touch of a button. Gauzy is the lead provider that offers a fully warranted, integrated solution that includes window films, hardware controllers for film operation and preservation, and complete certification and training with verification tools for worldwide partners. The film is currently used in architectural applications and is under evaluation for automotive applications.
Avery Dennison’s Hanita business division, which manufactures specialty films for a number of industrial and commercial applications, has established an agreement with Gauzy to collaborate on the development and marketing of a retrofit version of Gauzy’s switchable window film, which would add to Avery Dennison’s window film product portfolio. Avery Dennison Hanita has identified opportunities in the architecture and retail segments for these solutions. The two companies anticipate further product opportunities will emerge from their collaborative efforts in the automotive industry.
“We are delighted to be working with the innovators at Gauzy on the continuing development and expansion of their exciting switchable film technology,” said Georges Gravanis, president of Avery Dennison’s Label and Graphic Materials business group. “We also look forward to leveraging both our organizations’ expertise to drive innovation in specialty films and develop new applications and sales channels for these versatile materials.”
“This marks an important and outstanding milestone for Gauzy. We look forward to working with Avery Dennison as we advance our R&D capabilities to create innovative new products. As a strategic investor, Avery Dennison will significantly elevate our distribution network with their extensive reach in the retrofit market,” said Eyal Peso, CEO and co-founder of Gauzy.