Perth-based innovative building material developer ClearVue (ASX: CPV) will make its debut today on the Australian Securities Exchange after successfully closing its A$5 million initial public offering.
The A$5m was raised through the issue of 25 million shares at $0.20 each under its IPO, giving the company a market capitalisation of A$19 million at the offer price.
ClearVue operates in the Building Integrated Photovoltaic (BIPV) sector which involves incorporating solar technology into glass and building surfaces to produce renewable energy.
The company’s ‘smart building material’ patented technology – which it developed jointly with leading experts from the Electron Science Research Institute at Edith Cowan University (ECU) in Perth – consists of a glass lamination interlayer doped with inorganic micro and nano-particles.
These particles draw a large portion of the ultraviolet (UV) and infrared (IR) rays from the sun and redirect those rays to solar cells embedded around the edge of the glass panels in the window frame.
ClearVue executive chairman Victor Rosenberg said funds raised would go towards commercialising this technology.
“Unlike other solutions on the market, which use materials that are not completely transparent, ClearVue’s technology maintains clear glass,” he said.
“This is a fundamental property of glass as a building material as it visually allows people to connect with the outside world.”
Mr Rosenburg said there was significant potential for the product, with ClearVue already awarded a Federal government grant to construct a greenhouse using the technology.
ClearVue technology has applications for use in the building and construction and agricultural industries where there is a trend to increase and improve renewable energy generation capacity while reducing carbon emissions and pollution.
According to ClearVue, the technology could also be adapted for use in smart phones, tablets and laptop displays.
The technology can also be integrated with IoT (internet of things) sensors and devices into the ClearVue window frames so that such devices can be used, for example, to monitor window and building performance.