ClearVue Technologies Ltd (ASX:CPV) is preparing to list on the ASX after completing an initial public offering (IPO) of 25 million shares priced at 20 cents to raise $5 million.
The company operates in the building integrated photovoltaic (BIPV) sector, which involves the integration of solar technology into building and agricultural industries, specifically glass and building surfaces, to produce renewable energy.
The technology allows a building’s window to be used to catch solar energy from the sun.
ClearVue’s smart building material patented technology comprises a glass lamination interlayer that converts rays into energy, while allowing up to 70% of visible light to pass through.
Three main components to the business model
ClearVue’s business model has three main components:
• The sale and supply of its fabricated products direct to distributors and channel partners (revenues to be generated by direct sales);
• The grant of licences to manufacture ClearVue glass or ClearVue glass components to glass manufactures (revenues to be generated by license fees and royalties received from all glass or components sold); and
• The grant of licences to fabricate or assemble and sell ClearVue glass products either directly or through the company acting as wholesaler/retailer (revenues to be generated by license fees and royalties received by sales).
Targeting glass manufacturing and construction
The company’s target customers will primarily be from the glass manufacturing, glass framing and building and construction industries.
ClearVue also intends to promote and sell its products within the agriculture and horticulture, commercial and residential, public amenities and consumer electronics markets.
Funding for research and development and staffing
The largest allocations of funds raised will be as follows:
• $2.1 million: research and development;
• $1.35 million: staffing; and
• $0.65 million: branding, marketing and sales.