CEO & Co-Founder, Gauzy
Gauzy CEO on Vision & Light Control Solutions
Gauzy began trading today at $17 per share on the Nasdaq. Gauzy is a global leader in vision and light control solutions. CEO Eyal Peso joins Nicole Petallides to discuss Gauzy’s relationships with blue chip companies. He also goes over financial flexibility and strategic priorities. Tune in to find out more about the stock market today.
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About Eyal Peso
Eyal Peso, co-founder and CEO of Gauzy, rang the Nasdaq opening bell on April 1, 2025, as the company began trading at $17 per share. In media appearances that day, Peso described the IPO as a necessary step for the business, stating that being public would make it easier to secure long-term production contracts. He noted that the offering was primary only, with no secondary shares, and said the company aimed to offer a good entry price for long-term investors. Peso also highlighted a 10-year program with Ford trucks to remove mirrors and embed ADAS systems for safer driving. Peso has positioned Gauzy as a nanotechnology and material science company that develops light and vision control technologies for glass. He has stated that the company serves four end markets: aerospace, automotive, architecture, and commercial vehicles. In earlier interviews, Peso discussed partnerships with Daimler/Mercedes-Benz and McLaren for SPD sunroofs, as well as work with Honda jets and various train and marine applications. He has described the technology as still expensive but expected to decrease in cost with volume. Peso also noted that Gauzy operates the only R&D and manufacturing facility for liquid crystals outside the Far East, with production centers in Tel Aviv, near Lyon, France, near Stuttgart, Germany, and in Melbourne, Florida.
Transcript (15 segments)
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Host0:00
We want to turn our attention straight over to Gauzy. This was an IPO at the NASDAQ today. Let's get right into it and welcome in the CEO, Eyal Peso, with us. Co-founder, CEO of Gauzy. Congratulations to you and the team. G-A-U-Z, folks, you could check it out. Today was your day. You know, you had your IPO, $17 a share. Tell me a little bit about your day today. How did it feel to finally bring this public the way you did?
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Eyal Peso0:30
Thanks for having me. It feels great. I mean, it's very exciting for the whole team, for the company, and I think also for our respective customers and markets. And we're very happy.
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Host0:45
Yeah, so tell me more about the company. Not everybody fully understands what the company is, what it does. Tell us more.
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Eyal Peso0:52
So the company is developing light and vision control technologies. So basically allowing better ways to control light through transparent apertures. Material science at its best. We develop materials that are embedded in glass or other transparent materials to control light. We do that every day, all the time. If it's in our house or in our office, if it's a shade or a blind or curtain. If it's in a car, if it's a sun visor, a rooftop visor, a side door visor. We can in an airplane, you have a cabin shade. And we're enabling the control of light embedded in glass with our smart materials that we develop and manufacture really ourselves throughout different applications. We're actually built out of four distinct business divisions that serve four markets with these products: Aerospace, Automotive, Architecture, and also Safety Tech.
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Host1:48
And some of the clients are some of the big names: Honda, Bombardier, Mercedes, Ford, Boeing, BMW. I mean, what do you provide and work with in these relationships with some of these names like Mercedes and BMW? What do they go to Gauzy for?
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Eyal Peso2:06
Exactly. So it's sometimes different product lines for different customers. If we're specifically talking about automotive, like Daimler, there's a need to control light through the glass apertures of a car. If we'll take an example on EVs, most EVs today come with a glass roof, a very big glass roof, with no more instruments to actually control the light through it. The reason is they're sitting on batteries and it takes away the head space, so they have no more room for hefty plastic and aluminum roofs, only glass, which can be very thin. Our technologies, embedded into glass, our materials by the biggest glass manufacturers today, enable the electronic control of light, gradual control. It can block light or allow light in within the glass itself. We replace sun visors on windshields, for instance, in automotive applications.
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Host2:58
You talked about automotive and for aerospace, much of the same? Is it the glass on the front of the Boeing plane or something?
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Eyal Peso3:07
Exactly, exactly the same. Removing the need of a mechanical shutter, these plastics coming up and down. We're embedded in the glass itself. In the case of aerospace, we're actually a tier one vendor supplying today Boeing and Airbus and nine jet manufacturers in series production for many, many years. We have great visibility for our business to come. And they're using our material and our technologies to just control light better inside the cabin, in the cockpit, for safety, for comfort. It's one of the three key things that airlines are talking today when they talk about customer experience is the light control in the cabin, and we provide for that.
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Host3:51
Were you comfortable with the price discovery of the IPO today? Because you know, everybody looks at the balance sheet, you do the road show and so on and so forth. IPO price $17, I believe. So, were you comfortable with that? Did you think that was a good price point?
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Eyal Peso4:09
Yes, I think it is. And I think if you understand the Gauzy story, we went public because that's what the business requires. We're serving as a tier one, tier two in long-term, 8 years, 10 years series production programs. And in order to get these contracts that we have today, it's a big thing. But to get conviction for more and more business, being public is just going to make it easier. So, you know, we wanted to give good investors, long-term investors, a good price to come in and grow with us. So we're not looking at trade day one. It's only primary, no secondary. It's really a fundraise for our specific needs. We feel that we're going public for the right reasons and the right time for us. And we're going to look at this long-term growth. That's kind of how we view it. So we're happy with how we... well within the range that we defined. And yes, I mean, we're satisfied.
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Host5:15
Yeah, one of the few Tel Aviv companies, Tel Aviv-based companies, so exciting to represent there. Tell me a little bit about the goals, because when we think of your company, maybe we're leaning towards aerospace, we mentioned the glass on the front of the Boeing. We're leaning towards automotive, right? Like Daimler, we mentioned Honda and so on. Where else are we seeing your name popping up? What other kind of partnerships do you have or hope to have?
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Eyal Peso5:44
So, I mean, we have a list of announcements that we're waiting very anxiously to provide the market. We're going to unlock a lot of business now that we're public. I'd like to give a spotlight on the fourth business. We have four different business divisions. One of them is Safety Tech, that we're selling Advanced Driver Assistance Systems that evolved from another piece of glass in a car called a mirror. A mirror became electrochromic and then is just removed altogether. We are focused on commercial vehicles, buses, and coach. We have announced a 10-year program with Ford Trucks where they're going to, for the first time, remove mirrors completely and embed our ADAS, Advanced Driver Assistance Systems, on their trucks to remove blind spots for a safer drive. We're the only company today that is actually removing mirrors on complete public transportation systems in major cities. We're on 3,000 buses in London. If you walk 5 minutes in the center of London, you're going to see a bus, a red bus, with no mirrors, with ADAS from Gauzy. This is something that not many know, but that now they will. But we're one of the leading vendors for that. That also evolved from another piece of glass that became smart by removing it and applying it with displays and cameras, but really evolved from smart glass.
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Host7:09
Yeah, and as you have the presence in the US, Europe, France, Israel, Asia, other, really all over. But France really the standout. What is it about France that you have 40, almost 46% of the revenue coming out of France?
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Eyal Peso7:30
So that's a fair question. It's more of where we build. It's not that France is where we sell 45% of our business. It's coming out of our... we have a major production center. We are producing our own products through the very synthesis of a nanoparticle and a polymer in Tel Aviv, next to Lyon, France, and next to Stuttgart in Germany, and here in the US in Melbourne, Florida. But a lot of our production is actually coming out of France, and that's how you see it. It's not that 45% of the business is in France, but it's just where we're producing more than anywhere else.
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Host8:03
Right, makes sense. Totally makes sense. Congratulations, Eyal, and to you and the team. We'll continue to keep an eye on Gauzy. Thank you. Eyal Peso, co-founder, CEO, Gauzy, live from the NASDAQ. Okay, thanks.