Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 13

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 13
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 other hand, have been adapted for smart glass solutions and there are a number of companies that currently offer thermochromic
“smart” glass products. Thermochromic glass reacts to heat from direct sunlight, thus the more intense the sunlight, the
darker the glass becomes. When the UV rays from the sun hits the surface of thermochromic glass, it is able to partially block both UV
and infrared light, and depending on the position of the sun, the glass self-tints to block excessive heat when the sun is hottest (i. e.,
at its highest position in the sky). The main limitation of thermochromic glass is that it cannot be actively controlled and has a relatively
slow response time that is directly proportional to the increase or decrease in sun or heat.

Since passive technologies
cannot be controlled by the user, their application in a “smart” setting is limited. Active light control technologies, on
the other hand, enable user control over the state of the glass. This control can be achieved manually or automatically via control panels,
mobile phones, tablets and other smart devices and systems.

The three main types of active
light control technologies, which we are most focused on, are LC technologies, SPD technologies and electrochromic technologies.

Liquid Crystal (LC) Technologies

LC technologies, including
polymer dispersed liquid crystal, or PDLC, sematic liquid crystal and cholesteric liquid crystal, are activated when an electrical current
is applied to the material. This current causes the normally randomly aligned liquid crystal molecules to become oriented in such a way
as to disperse light or allow light to pass through, thereby causing the material to change from opaque to transparent. This technology
requires a constant power supply to maintain a transparent state. When in a powered state, the material is clear, allowing for full transparency;
when unpowered, the material is completely opaque. Liquid crystal technologies in light control applications are commonly used when there
is a need to control visible light for privacy, necessitating a fast response time. LC technologies can also enable glass to change the
apparent color of light for an aesthetically-customizable environment.

Suspended Particle Device (SPD) Technologies

SPD is an active light control
technology in which an electromagnetic field is applied to the material in order to effect a change from opaque to transparent by realigning
nanoparticles contained within a transparent medium. SPD regulates the amount of light and glare passing through a transparent aperture.
The level of tint is