High-tech innovative building material developer ClearVue Technologies is seeking to raise up to $6 million via its IPO offer as it seeks to commercialise its ground-breaking renewable energy generation technology.
The Perth-based company operates in the Building Integrated Photovoltaic (BIPV) sector which involves incorporating solar technology into glass and building surfaces to produce renewable energy.
It is seeking to issue up to 30 million shares at $0.20 per share with a minimum subscription of 25 million shares to raise at least $5 million before costs.
The Company’s ‘smart building material’ patented technology – which it developed jointly with leading experts from the Electron Science Research Institute at Edith Cowan University (ECU) in Perth – consists of a glass lamination interlayer doped with inorganic micro and nano-particles.
These particles draw a large portion of the ultraviolet (UV) and infrared (IR) rays from the sun and redirect those rays to solar cells embedded around the edge of the glass panels in the window frame.
The rays are converted into energy, while allowing up to 70 per cent of visible light to pass through.
The technology has broad based applications for use in the building and construction and agricultural industries where there is a trend to increase and improve renewable energy generation capacity while reducing carbon emissions and reducing pollution. This patented technology also has the potential to be adapted for use in smart phones, tablets and laptop displays.
“It is a very exciting time to be a part of this Company as we seek to commercialise our ground-breaking technology to generate renewable energy from glass without compromising on transparency,” Executive Chairman Victor Rosenberg said.
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.”
Mr Rosenberg said ClearVue had already shown there was significant potential for its product, having already been awarded a government grant to construct a 300-350m2 greenhouse using its patented technology in conjunction with Apex Greenhouses and ECU in Perth.
ClearVue will use funds raised for commercialising its technology, product quality, safety testing and obtaining certifications for the ClearVue products, research and development, branding, marketing and sales costs and for patents and trademarks protection.
Post-listing, ClearVue will seek to establish a commercial scale semi-automated manufacturing facility in China and secure new pilot projects and installations.
The company will also target customers and distributors in select geographies including Australia, China, Singapore, Japan, Germany, North America and the United Arab Emirates and other Gulf states under a licensing model aimed at delivering royalties back to ClearVue.
Meanwhile, research and product development will focus on enhancing electricity generation efficiency and product durability.
ClearVue’s management team has considerable experience in the BIPV sector and is led by Mr
Rosenberg who is globally recognised for his contributions to the glass industry and has extensive business experience in senior management and sales related positions.
The offer – which opened on 7th March – is expected to close on 6th April with the Company expected to list on the ASX under the ticker CPV on 25th April 2018.
