Avery Dennison Corporation 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. Click Read More below for additional detail.

Fourth Quarter and Full Year 2020 Highlights: *Fourth quarter and full year income from continuing operations was $9 million, and $0 million, respectively, $66 million and $119 million higher than comparable periods in 2019, respectively *Fourth quarter Adjusted EBITDA from continuing operations of $53 million was up $44 million from the comparable quarter in 2019 primarily driven by higher lumber and High Purity Cellulose prices *Full year 2020 Adjusted EBITDA from continuing operations of $153 million improved $78 million from the prior year primarily driven by strong demand for lumber and reduced costs across segments as a result of improved reliability *Generated $73 million of Free Cash Flow through the year ended December 31, 2020 driven by prudent management of capital expenditures and improved working capital; expect $55 million from cash tax refunds during 2021 *Completed refinancing in December to extend maturities, remove financial maintenance covenants and enhance liquidity

The jointly owned biorefinery, owned by SCA and St1, is now inaugurated. When fully operational in Gothenburg, the refinery will contribute an annual production of around 200,000 tons of renewable fuel. Mikael Källgren, Business Area Manager for Renewable Energy at SCA, notes that the inauguration marks a new milestone for SCA. The facility is the first where SCA produces renewable vehicle fuel, and SCA's share in the facility is 25 percent. The partnership and production at the facility also mean that SCA's pulp mills will be able to supply tall oil, a by-product from pulp production, for further processing at the new factory. The factory has undergone a start-up phase since the beginning of the year and has now commenced operations to produce sustainable aviation fuels (SAF), biodiesel (HVO), bio-naphtha, and bio-LPG. The inauguration of the refinery in Gothenburg also marks the culmination of a long process where an idea and vision have transformed into a state-of-the-art facility.