Western Australia-based ClearVue Technologies has secured a $30 million at-the-market facility (ATM) with Sydney-headquartered Alpha Investment Partners that will support the scaled development of its integrated glazing unit (IGU) products and integrated Solar Façade solutions.
ClearVue has developed specialised glass technologies that preserve glass transparency while generating electricity. The IGUs feature PV cells around the edges of each unit. The units incorporate a nanoparticle interlayer and spectral-selective coating on the rear external surface which allow much of the light to pass through but redirects infrared and ultraviolet (UV) light to the edge of the IGU where it is harvested by solar cells. The company calculates that 10 square metres of its glass generates approximately 1.35 kWh of clean energy per day.
ClearVue Chief Executive Officer Martin Deil said the ATM facility provides the Perth-based company with access to standby equity capital over the next five years, which is a vital growth step as it begins scaling up activities in multiple global markets.
“Over recent months, the commercial potential of our technology has been validated by independent, third-party verification demonstrating the real-world performance benefits of our unique products,” he said.
“Having access to flexible capital is critical to accelerate our growth plans and progress our pathway to commercialisation.”
Earlier this month, testing by the Singapore Building and Construction Authority confirmed that ClearVue’s second-generation PV IGUs reduce both total building energy consumption and costs.
In September, the company said it had confirmed the scalability and “commercial viability” of its second-generation IGUs after a mass production run using a standard manufacturing line at a factory in China.
Dell said having access to the funding facility will allow ClearVue “to respond quickly, efficiently and cost-effectively to emerging investor demand as it begins scaling up activities in multiple global markets.”
The ATM agreement comes after ClearVue earlier this year secured a $2 million grant through the Western Australian government’s Investment Attraction Fund to establish new manufacturing operations in Perth.
ClearVue said it will use the funds to ‘on-shore’ the manufacturing of key components required for its IGUs and windows.
Specifically, the company plans to establish a solar PV strip assembly line to manufacture the strips used for solar collection in its solar windows and facades. Additionally, ClearVue intends to create an in-house nanoparticle and quantum dot production capability to produce nanoparticles for use in the lamination interlayer currently used in the majority of the company’s end products.
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