EURACTIV PR

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Date

07 Sep 2022

Sections

InfoSociety

Highlights

  • Update since 9 June 2022 Market Update 
  • ClearVue Sales Activity
  • Corporate Update
  • European Market Update
  • United States Market Update
  • Australian Market Update
  • Upcoming Activities

7 September 2022: Smart building materials company ClearVue Technologies Limited (ASX:CPV OTC:CVUEF) (ClearVue or the Company) is pleased to provide the following update.

The winds of change in climate policy are not just blowing, it is a wild storm!

The passing of The Inflation Reduction Act of 2022 in the US is one of the more significant policy initiatives undertaken by any US Government Administration in recent history.  The sheer magnitude of the policy agenda contained within the Act should remove any reasonable doubt about the strategic direction taken by the US Government, confirming an investment of $US 369 billion to reduce carbon emissions by roughly 40 percent by 2030.

When observing the global investment in the energy transition in 2021, it may surprise many that China spent more than the United States and EU combined.  China spent $297.5 billion as opposed to the EU $155.7 billion and the US $119.7 billion in 2021.  Total global energy transition spending in 2021 was circa $US 800 billion.  

According to an IEA Assessment to bring worldwide energy-related carbon dioxide emissions to net zero by 2050, annual capital investment needs to reach almost $5 trillion by 2030 and $4.5 trillion by 2050.

Within the global building and construction sector, we firmly believe that ClearVue Technologies Ltd (ClearVue or the Company) has the potential to play an integral role in the decarbonisation of the global economy.  With reference to the ClearVue June Qtr 2022 Investor Presentation, the confluence of changes in buyer behaviour, allocation of investment funds and policy settings mean that ClearVue’s building solution and the Company’s strategy to be geographically located in the EU and United States markets will, over time, start to realise meaningful shareholder value as all levels of the economy commences the decarbonisation journey.

Updates since ClearVue’s 9 June 2022 Market Update - Newsletter

  • Advanced Impact Technologies (AIT): The US glass manufacturer now has ClearVue proprietary interlayer product to commence internal testing of processes, production runs and manufacturing requirements.  Importantly, ClearVue will meet with the AIT sales team before the end of the calendar year to align US domestic sales strategies, education and collaboration in cross-selling upsell opportunities.
  • Agtech/Greenhouse:  Basil Karampelas, ClearVue North American CEO, attended the Indoor AgTech Summit in New York in June 2022.  Initial follow-up and further exploration of the US greenhouse market opportunity have been encouraging, with multiple exploratory discussions underway.  

ClearVue has also initiated two separate engagements with greenhouse developers in Europe.  ClearVue anticipates that there will be the opportunity to provide the market with additional information by calendar year-end or early March quarter of 2023.     

  • Defence Update: Phase Two evaluation with Nodis, being undertaken at the Tyndall US Air Force Base Florida, will likely end in the coming weeks.  At the conclusion of the trial, all stakeholders will review the results of the Phase Two evaluation with, assuming a positive outcome, the intention to move to a Phase Three evaluation where ClearVue technology will be expanded to a broader sample of US Air Force assets.  

Domestically, ClearVue attended the ‘Indian Ocean Defence & Security Conference’ in Perth on the 25-26 August 2022 and will participate in the ‘Land Forces International Land Defence Exposition’ in Brisbane on 4-6 October 2022.

The rationale for targeting the industry vertical of Defence spending is born from industry engagement and the understanding that governments worldwide have committed to zero carbon emissions.  The transition to net zero buildings, in ClearVue’s view, may well be an opportunity for a government to meet the carbon abatement policy obligations as the procurement of new installations and/or repairs and maintenance (retrofit) of existing military facilities.  The initial response has been encouraging, and the Company will keep the market informed of developments as they arise.  

  • LabReal LLC: ClearVue has been liaising with the company to understand the architectural design requirements, desired building needs and logistical issues.  ClearVue signed a Letter of Intent with LabReal LLC to undertake the Company’s first US commercial Installation.  See ASX Announcement of 8 June 2022.  The Company will advise the market in future updates of further developments.
  • Profile Advisors – US PR:  ClearVue’s engagement with Profile Advisors has enabled the Company to test our market entry strategies, “Americanise” the ClearVue marketing for its US audience, and build the narrative of how ClearVue is going to start selling products in the US.  
  • Sydney Public Park Space: The delay in the official opening of the Sydney site is a result of concerns by the local authority on the surrounding areas caused by extreme weather in New South Wales. More importantly, the authority’s obligation to meet the community's immediate needs during this natural disaster period.  The Company will advise the market on the opening date once announced by the authority.  
  • Supply Constraints – ClearVue, as with most companies that have international supply chain exposure, had a significant disruption in the ability to do business throughout the COVID era.  China’s current and continuing zero-tolerance policy on COVID continues to cause the Company some disruption.  ClearVue is pleased to advise that it is starting to see some improvement in supply chains and continues to closely monitor the situation.

ClearVue Sales Activity

  • Elevated interest:  ClearVue has had a 269% MoM increase of new website enquiries coming into the business through the Company’s website and into its CRM system.  Enquiries range in nature from project opportunities to new distribution and manufacturing interest, and are geographically diverse. 
  • Africa/Middle East: ClearVue has had heightened interest from Africa and Middle Eastern countries.  The Company actively engages in new client conversations and will keep the market informed of progress as it arises. 
  • Asia: ClearVue is directly engaging in multiple project and new distribution opportunities in the ASEAN region.  The origination of the opportunities is a blend of introductions and the potential customers coming directly to the Company.

Corporate Update

  • D2 solar:  Development work continues with D2 solar on ClearVue product improvement and development of its single- and double-glazed product designs. Discussions with D2 solar are progressing on expansion of the relationship between the two companies.  The Company expects to update the market further before the end of the calendar year. 
  • Environmental, Social & Governance (ESG):  The Company announced to the market on 31 August that the Company had commenced the process of committing to building its ESG credentials and are making ESG disclosures against the World Economic Forum (WEF) Stakeholder Capitalism Framework. We have committed to sharing with our stakeholders half-yearly ESG progress reports and expect that our first Baseline Report will be issued in the coming months. The Company’s ESG reporting is an important milestone as this will open the door to attracting ESG-mandated investment over time.
  • Investor Relations/Public Relations:  The Company has engaged in multiple investor relations activities within the domestic and international media sphere.  Also, the Company has engaged in introductory meetings to expand institutional interest in the Company and its activities.
  • Award: ClearVue won the 2022 WA Most Innovative Window System at the Australian Glass & Window Association’s Annual Design Awards.  This will propel ClearVue into the national award at the end of the year.  Congratulations to all our team for their hard work in securing this important recognition of the Company’s truly innovative product and technology. 

European Market Update

The process of selecting key European partners has been progressing well since the Company’s last market update with ongoing, concrete activities to secure assembly and finishing of ClearVue products so that they can become “Made in Europe” by European Glass manufacturers for the EU and wider European market. More information is expected to be provided in coming months on the Company’s progress.

Sales enquiry has significantly increased in Europe with project exploration for strategic projects in 5 different countries currently underway. The Company looks forward to updating the market in the event these explorations convert into sales for the Company.

The Company’s European activities have also focussed on aligning appropriate channels to ensure our products answer customer need in Europe. Additionally, the Company has focussed on building out its communications platforms for architects, engineers, project developers and building and construction audiences.  These activities are expected to increase during Q4 of 2022. The Company looks forward to further updating the market later in the year on its progress.

ClearVue will also be present at Europe’s largest glass industry trade show, Glasstec being held in Düsseldorf Germany between 20 to 23 September (see:  https://www.glasstec-online.com/).

United States Market Update

The last several months have been extremely busy in the United States, and although we have only 2 full time employees based in the US currently, we have made excellent progress. Additionally, there are a number of programs embedded in the recently passed Inflation Reduction Act in the US (the IRA) that will benefit our company substantially in the US. 

We continue to work with our PR firm, Profile Advisors, to improve our visibility in the US through a number of initiatives, including the following:

  • improvements to website
  • publication of a number of thought leadership pieces related to ESG, solar windows and the recently passed IRA legislation in the US
  • video clips of Mr Karampelas speaking at the Indoor Agtech Conference highlighted on social media

We have been speaking with potential customers in the commercial, residential, and advertising structure space and are encouraged by the feedback we are receiving.

We have opened our office in San Jose, California and expect to have a large office opening event in the early fall to help draw attention to our presence in the US and our relationship with D2 Solar.

We have made significant inroads with US-based building materials companies that are interested in our window solutions for specific applications such as skylights. Likewise, we have been in numerous discussions with automotive parts suppliers about using our windows in automobiles.

We anticipate a number of milestones to be made in the coming months in the US as we seek to add to our team and explore strategic, financial and operational alternatives to ensure that we remain the market leader in this geography. In particular, we will be spending quite a bit of time with the team at Advanced Impact Technologies (AIT) following the announcement on 19 July 2022 of our strategic alliance. AIT’s manufacturing capability and sales force, combined with our technology and R&D capabilities will be a formidable combination.

Australian Market Update

The Australian market has seen an elevated level of interest on the East coast with multiple presentations being made to Architectural, Design and Environment Sustainable Design (ESD) organisations.  The Company has also engaged a new referrer that has made numerous, high-quality introductions on the eastern seaboard. 

In addition, the Company is in the final stages of negotiation for a license with an Australian glass manufacturer.  

Upcoming Activities

  • Technology Update: ClearVue will provide a market update on technology developments as part of the Company’s ongoing Research & Development program before 31 December 2022.
  • Annual General Meeting: Scheduled for the latter half of November.  The Company will advise shareholders of the meeting date in accordance with regulatory guidelines through the ASX platform.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ClearVue Technologies Limited

Earle Harper

Head of Investor Relations

earle.harper@clearvuepv.com

+61 (0) 407 345 180

Citadel-MAGNUS

Michael Weir / Russell Quinn

0402 347 032 / 0403 322 097

Profile Advisors

Rich Myers

rmyers@profileadvisors.com

+1 347 774-1125

ABOUT CLEARVUE TECHNOLOGIES LIMITED 

ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

ClearVue’s electricity generating glazing technology is strategically positioned to compliment and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.

Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU.

ClearVue’s window technology has application for use in the building and construction and agricultural industries (amongst others).

ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.

To learn more please visit: www.clearvuepv.com

FORWARD LOOKING STATEMENTS

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ClearVue Technologies Limited, are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

 

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