6 September 2019: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (“ClearVue” or“the Company”) is pleased to announce that it has received an R&D tax credit from the Australian Tax Office ofAUD $602,353 – the payment being made pursuant to the Commonwealth Government Research & Development Tax Incentive Program.
The R&D tax credit claim related to research and development work completed during the last year on activities including the Company’s research program with the University of New South Wales on quantum dots, work with Edith Cowan University on the entrance atrium at the Warwick Grove Shopping Centre, work with ARUP on building modelling, ongoing product development including work on its solar strips and product compliance.
Commenting on the R&D Tax Credit, ClearVue Executive Chairman Victor Rosenberg has said:
“ClearVue is a technology company first and foremost and to ensure that we maintain our technological edge we must continue to invest into ongoing research and product development. In the last 12 months ClearVue has invested a lot into its ongoing R&D programs to ensure that our technology and products continue to lead in building-integrated-photovoltaics and smart façades for the rapidly growing smart cities market. We are pleased that the Australian Government through the Tax Incentive Program is able to support innovation focused companies such as ours and we look forward to updating the market on the outcomes of our R&D activities as they come to fruition over time.”