ClearVue Technologies (ASX: CPV) has widened its addressable market by developing a frame-independent Insulated Glass Unit (IGU) to support its glass technology.
The improved design allows solar energy that was previously captured in photo-voltaic cells built around the inside of a window frame and then converted into energy, to now be captured within solar cells built into the IGU structure itself.
The news means that ClearVue could potentially see greater commercial traction in the coming months as its products become more attractive to a greater number of customers.
Furthermore, ClearVue may now be able to accelerate its licensing opportunities as clients no longer need to rely upon ClearVue proprietary window frame designs and can instead utilise industry standard frames produced by all other manufacturers.
“The move away from dependency upon any specific frame design to an industry standard IGU that can be supplied to innumerate framing companies and window fabricators will significantly increase ClearVue’s potential to reach a global market faster. This simple step has widened our scope for even greater licensing opportunities,” said Victor Rosenberg, executive chairman of ClearVue.
According to ClearVue, it has placed an order for 100 of the IGU units with its contract manufacturer for installation into early trial sites, including a memorandum of understanding with Mirreco, a hemp-based sustainable housing manufacturer.
Micro homes into large-scale commerce
Under the terms of the agreement, ClearVue will become the exclusive supplier of solar window products, initially for small-scale housing units, or “micro homes”, created by Mirreco.
Mirreco has developed an environmentally-friendly, carbon-negative industrial hemp product which is used as panelling material to create eco-friendly homes or to be used in larger structures in the commercial property market.
Mirreco has developed a unique processing system that captures and stores carbon dioxide indefinitely, potentially revolutionising current practices within the building industry.
Its first prototype due to be completed by the end of this year and as part of their agreement, ClearVue is providing the solar PV technology that uses nanoparticles incorporated into the lamination layer of glass to redirect ultraviolet and infrared rays from the sun to solar cells embedded around the edge of the glass panels.
ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University in Perth, Western Australia to develop the technology with its products now undergoing certification testing to comply with Australian building standards.
News of ClearVue’s design progress helped its shares to reach a high of A$0.14 per share in this morning’s trading session, up around 17% from yesterday’s close.
The building materials company listed on the ASX last month at around A$0.20 cents per share.