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- ClearVue Technologies (CPV) secures a grant of up to $2 million from the WA Government to establish a local manufacturing facility for its core technology
- The funding falls under the WA Government’s Investment Attraction Fund, designed to encourage new investment in emerging industries to diversify the state’s economy and create more jobs
- ClearVue reported the WA-based facility would “significantly” de-risk its supply chain and create a new export opportunity for the company and the state
- CPV will use the facility to manufacture key components for its solar-integrated glazing units (IGUs) and windows
- Shares in CPV are up 2.63 per cent and trading at 19.5 cents at 2:05 pm AEST
ClearVue Technologies (CPV) has secured a grant of up to $2 million from the Western Australian Government to support the establishment of a local manufacturing facility for its core technology.
The company inked a financial assistance agreement (FAA) with the WA Minister for State Development, Jobs and Trade, the Hon. Roger Cook MLA to receive the boost toward a WA-based photovoltaic (PV) and nanoparticle components facility.
The company reported it would use the facility to manufacture key components for its solar-integrated glazing units (IGUs) and windows.
The funding falls under the Government’s Investment Attraction Fund, which Mr Cook said is designed to encourage new investment in emerging industries to diversify the state’s economy and create more jobs.
“A trailblazer in the field of advanced solar glazing and window solutions, ClearVue, is a genuine WA success story,” he said.
“With their patented technology, they continue to expand into international markets and the $2 million Investment Attraction Fund grant will enable ClearVue to manufacture its key components onshore for the foreseeable future, creating new employment opportunities within the sector.”
ClearVue reported that bringing its operation onshore would significantly de-risk its supply chain and, as a result, improve control over its core intellectual property (IP) while creating a new export opportunity for the company and the state.
“COVID and the Ukraine war have confirmed that control of the manufacturing of our core components is critical to ensuring our future supply chain,” CPV Acting CEO and Executive Director Jamie Lyford said.
“We are all very pleased that we will be able to keep certain core parts of the business within Western Australia going forward – including creating new local skilled jobs and diversifying the economy – even as we are reaching out into global markets including our key sales territories of the US and Europe.”
The grant includes a number of milestones, with the company to receive the full amount once all milestones have been achieved.
Shares in CPV were up 2.63 per cent and trading at 19.5 cents at 2:05 pm AEST.
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