ClearVue solar glass developer closes $5m IPO

Perth-based building-integrated solar PV company, ClearVue Technologies, has made its debut on the Australian Securities Exchange, after successfully closing a $A5 million initial public offering.

The now ASX-listed company announced plans to float on the national stock market in March, as it geared up to sell its solar energy harvesting clear glass windows around the world.

Its patented nano-technology, developed in conjunction with the Electron Science Research Institute (ESRI) at Edith Cowan University, generates electricity from a flat, clear sheet of glass while maintaining transparency.

The company says the windows can currently generate a minimum of 30W per square metre, while also providing insulation from heat and cold, and UV control. With further R&D, they expect generation to reach 50W per square metre.

But it is the technology’s “clear glass” quality that ClearVue executive chairman, Victor Rosenberg, has described as a game-changer in the building-integrated photovoltaic (BIPV) sector.

And at least some investors seem to agree. The IPO raised $5 million (it was hoping for $6m) through the issue of 25 million shares at $0.20 each, giving the company a market capitalisation of A$19 million.

Rosenberg says the funds raised will go towards commercial-scale production of the solar glass, which the company plans to pitch at customers in the agricultural and greenhouse sectors, as well as in building and construction.

“Our technology presents a paradigm shift in the way glass will be used in building construction, automobiles, agriculture and speciality products,” Rosenberg said in a statement in March.

“Glass will no longer be just a component of construction but also a renewable energy resource.”