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 [1], 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 [2]
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.
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.
ClearVue Sales Activity
Corporate Update
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/ [5]).
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:
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 [6] 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
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 [7] +1 347 774-1125 |
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 [8]
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.
Links:
[1] https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02534408-6A1096806?access_token=83ff96335c2d45a094df02a206a39ff4
[2] https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02530285-6A1095105?access_token=83ff96335c2d45a094df02a206a39ff4
[3] https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02529827-6A1094903?access_token=83ff96335c2d45a094df02a206a39ff4
[4] https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02562681-6A1107465?access_token=83ff96335c2d45a094df02a206a39ff4
[5] https://www.glasstec-online.com/
[6] https://app.sharelinktechnologies.com/announcement/asx/501ea749ad62f668f6389c1763427254
[7] mailto:rmyers@profileadvisors.com
[8] http://www.clearvuepv.com
[9] https://www.clearvuepv.com/