ClearVue powers up with $6.25M and key EU solar glass approval
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Doug Bright
ClearVue Technologies has achieved a major certification milestone in Europe for its cutting-edge solar glass technology and has also leveraged a $6.25 million capital raise as it moves towards bringing its building-integrated solar products into broader commercial use.
The Perth-based smart building materials company says its Gen 3 Vision Glass has passed EN 1279-5:2018 testing, the European standard that regulates the long-term sealing performance of insulating glass units used in construction.
The result is significant because ClearVue’s patent-pending design allows power cables to pass through the gasket of the double-pane glass unit without compromising the integrity of the gasket.
More simply, the company has demonstrated that its energy-generating window glass can maintain the long-term moisture and condensation resistance expected from traditional high-performance glass.
‘Every certification we receive is a direct result of how we design and manufacture our products.’
Douglas Hunt, chief executive officer and general manager of ClearVue Technologies
ClearVue says the testing confirmed that the Gen 3 assembly meets the hermetic integrity requirements under the European standard and is compatible with industry-standard aluminum spacers commonly used by double-glazed unit manufacturers and specified in commercial curtain wall systems.
The company says the certification will further reduce the risks of the product for builders, façade engineers and procurement teams by validating a design feature that simplifies production and installation, while also helping to ensure improved thermal performance and compatibility with advanced low-emission coatings.
ClearVue CEO and managing director Douglas Hunt said:
“We design to be certified, not the other way around. These special components, which have passed the EN1279-5 standard, are a significant step forward because they confirm the key design features of Gen 3 Vision Glass that are crucial for easy production and installation.”
On the financing side, ClearVue confirmed today that the capital raise will now be $6.25 million, up from the $6 million package announced yesterday. The total includes $5.25 million from a sale and an additional $1 million provided through a fully insured stock purchase plan.
The placement is priced at 11.5 cents per share, with an option to add one free share for each new share. The company said its board of directors and management have also committed $400,000 through participation in placements and shares financed by executive loans, subject to approval by relevant shareholders.
ClearVue says funds from the raise will support product certification and testing, enterprise resource planning systems, marketing, intellectual property and international business development as it scales its global commercialization push.
The company continues to develop and improve solar integrated glass and building façade products. The new technology is designed to maintain transparency when generating electricity and, depending on the design, can also provide insulation and an improved environment in the buildings where they are installed.
With the latest certifications in hand and new capital in line, ClearVue now has a clearer path to continue its increased focus on moving its unique technologies from the test bench to jobsites.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
