High-tech innovative building material developer ClearVue Technologies (ASX:CPV) has taken a major step towards commercialising its ground-breaking renewable energy generation technology, commencing trading on the ASX.
The commencement of trading follows an IPO which raised successfully raised $5 million.
The IPO issued 25 million shares at 20c each, giving the Company a market capitalisation of $19 million at the offer price.
The raising means ClearVue is now in a better position to develop and commercialise its industry-leading technology which integrates solar PV technology into building components, specifically glass, to produce renewable energy.
Commenting on the ASX listing ClearVue executive chairman Victor Rosenberg said: “On behalf of the Board, we would like to thank our new and existing shareholders and investors for their support in the IPO.
Funds raised will be used to assist in commercialising our ground-breaking technology to generate high levels of renewable energy from glass without compromising on transparency.
“Unlike other cost-effective solutions on the market, which use materials that are not completely transparent, ClearVue’s technology maintains clear glass. This is a fundamental property of glass as a building material as it visually allows people to connect with the outside world.
“We have already shown that there is significant potential for our product, having already been awarded a government grant to construct a greenhouse using our patented technology.”
ClearVue’s glass technology has application for use in the building and construction and agricultural industries (amongst others).
The company has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.
