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- ClearVue Technologies (ASX:CPV) and Alpha Investment Partners have executed a funding facility deal
- ClearVue will draw on a $30 million allotment offered by AIP
- The facility stretches over a five-year period
- ClearVue is making glass window panels for buildings that act as solar panels
- Shares last traded at 33 cents
ClearVue Technologies (ASX:CPV), an Australian company developing solar panel glass windows for buildings, has secured $30 million in funding.
Stretching over a five-year funding facility from Alpha Investment Partners, ClearVue is now able to continue developing its tech.
The facility “provides [us] with up to $30 million of standby equity capital … enabling flexibility for the company to conduct capital raising activities over time,” the company wrote today.
The company also added that it retains “full control over all major aspects” – including whether or not to use the facility and any future share placement process.
Recent tech success
The company recently reported positive test results using its tech in a trial run at the Skylab facility on Singapore Building and Construction Authority (BCA).
That trial saw the BCA report that ClearVue’s second-generation PV panels had reduced cooling load by 22.8 per cent and inked overall energy savings of 7.5 per cent.
BCA also noted imperceptible glare was reduced by a huge 75 per cent and thermal comfort for occupants was reported at 96 per cent higher.
A month earlier it had confirmed its ability to mass produce its solar PV glass panel construction materials.
Management comment
“Over recent months, the commercial potential of our technology has been validated by independent, third-party verification demonstrating real-world performance benefits,” CPV CEO Martin Deil said.
“Our management team reviewed a number of fund-raising options … we determined it prudent for ClearVue to access such a facility so it may respond … as we start to scale our execution in multiple global markets.”
This global expansion is firmly on ClearVue’s radar – the company’s overall corporate strategy looks specifically toward a global footprint.
The facility loan announced this morning does not restrict ClearVue from raising any other capital, either.
CPV shares last traded at 33 cents.
