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- ClearVue Technologies (ASX:CPV) releases its Q1 FY24 results, highlighting the effectiveness of its solar glass technology in tropical climates
- The company’s solar glass technology demonstrated impressive results in independent testing conducted by Singapore’s Building and Construction Authority
- In tropical climates, it achieved a 22.8 per cent reduction in cooling load and an overall energy savings of 7.5 per cent
- When combined with ClearVue’s Spandrel Solution, the energy savings reached an impressive 71 per cent
- Shares last traded at 31.5 cents
ClearVue Technologies (ASX:CPV) has released its Q1 FY24 results, highlighting the effectiveness of its solar glass technology in tropical climates.
The company’s solar glass technology demonstrated impressive results in independent testing conducted by Singapore’s Building and Construction Authority.
In tropical climates, it achieved a 22.8 per cent reduction in cooling load and an overall energy savings of 7.5 per cent. These results were obtained through testing of CPV’s second-generation integrated glazing units.
When combined with ClearVue’s Spandrel Solution, the energy savings reached an impressive 71 per cent.
ClearVue’s second-generation IGUs can be manufactured on standard industry production lines without any modifications, reducing capital costs for manufacturers and lowering costs for customers.
The company has also secured a five-year exclusive distribution agreement with Greendustrial Global, expanding the use of ClearVue’s products in Israel, particularly in curtain wall and facade glass applications for buildings up to 20 stories high.
In October, CPV secured a five-year at-call funding with a $30 million at-the-market facility to accelerate its growth strategy.
As of September 30, 2023, ClearVue Technologies had a cash balance of approximately $2.7 million.
The company anticipates receiving a tax rebate for its overseas R&D activity before the year’s end.
“This quarter we delivered some of our most important milestones to date, putting us on track for scaled commercialisation in the near future,” CPV CEO Martin Deil said.
ClearVue shares last traded at 31.5 cents.
