In Florence, Guido Panerai establishes Guido Panerai & Figlio in 1860. Over the years, the family-run precision engineering business—later renamed Officine Panerai—has developed multiple patents in the fields of timepieces and optics in addition to its primary focus on producing maritime precision equipment. A wide range of equipment, such as mechanical calculators, time bombs, depth gauges, and night targeting devices, was produced starting in 1913 for the Royal Italian Navy. Guido Panerai's significant invention, patented in 1915, allowed the instruments to be read even in total darkness. It's the bright material known as "Radiomir."