ClearVue Technologies Limited: Market Update
Highlights
- Company well funded with unaudited cash balance of approximately A$15.9m as at 30 June 2021
- European market development gaining momentum following easing of travel restrictions in Europe
- Murdoch Greenhouse – Data Collection Progressing with winter plant science trials underway
6 July 2021: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to provide the following market update.
Option Conversions
The Company is pleased to advise that as at 30 June 2021 the unaudited cash balance was approximately A$15.9m.
With approximately A$15.9m, the Company is well funded to execute its growth and expansion plans which include accelerating marketing and sales activities in the US and Europe.
The cash position as at 30 June 2021 largely reflects the conversion of 61,862,425 21 June 2021 options (out of a total of 65,608,024 expiring options). The options were exercisable at $0.25 per option.
In addition to the above, the Company is pleased to confirm the following exercises in the other various option classes:
- a total of 6,274,142 options expiring 31 December 2022, have been exercised at AUD$0.20 per option; and
- a total of 550,000 options expiring 11 July 2024, have been exercised at AUD$0.1425 per option.
The Company has a total of 9,725,247 options exercisable at $0.20 expiring 31 December 2022, 800,000 options exercisable at $0.25 expiring 22 December 2023 and 2,750,000 options exercisable at $0.1425 expiring 11 July 2024, available for exercise by the option holders.
European Activities
ClearVue’s European market development activities are gaining momentum following the recent appointment of ClearVue European CEO, Dieter Moor. Following his appointment on 1 May 2021, Mr Moor has been actively engaging with prospective customers throughout Europe in the BIPV and construction space.
With the recent easing of travel restrictions in Europe Mr Moor has had positive engagement with architects and façade/glazing companies, potential R&D partners and collaborators, and potential construction industry stakeholders within the EU. The Company looks forward to updating the market further shortly.
CRC-P Funded Greenhouse – Murdoch University
Further to the Company’s previous updates, the Company is pleased to confirm data collection from the completed greenhouse is now well underway and that the plant science trials for the winter growing season have commenced.
Power generation data from each of the three sections of the greenhouse using the ClearVue PV glazing panels are performing better than was predicted for this time of the year – full data will be published in due course when more data has been collected and analysed (it is also expected that a scientific paper will also be released and published validating the data consistent with the Company’s approach to date).
In summary, and as recorded to date:
- advanced temperature control in the range of +/-2˚C has been achieved over multiple days within greenhouse growing rooms 2, 3 and 4 where the ClearVue PV glazing has been used with growing rooms 2, 3 and 4 having used approximately half the HVAC energy compared to growing room 1 (being the scientific control room using ordinary glazing);
- photosynthetically active radiation (or PAR) has been measured in the ClearVue PV growing rooms 2, 3 and 4 during winter midday conditions, and found PAR to be between 600-700 micromoles/(m2*s), which (based on research literature) is also the optimum PAR range for a wide variety of plants eg. tomatoes;
The microclimate control algorithms used in operation of the greenhouse are continually being refined and improved, so that a combination of significant energy savings and tight temperature/humidity control can be maintained over different seasons. We look forward to updating the market further in the coming months and year on the greenhouse’s performance.
Authorised by the Board of ClearVue Technologies Limited.
For further information, please contact:
ClearVue Technologies Limited
Mr Victor Rosenberg
Executive Chairman
victor@clearvuepv.com
+61 8 9220 9020
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.