ClearVue Technologies (ASX:CPV) Executive Chairman Victor Rosenberg discusses the company’s upcoming IPO, technology and growth plans.
Rachael Jones: Hello I’m Rachael Jones from the Finance News Network. Joining me today from soon-to-be listed ClearVue Technologies (ASX:CPV) is Executive Chairman, Victor Rosenberg. Welcome Victor to the Finance News Network.
Victor Rosenberg: Thank you, thank you.
Rachael Jones: First off, could you start by giving us an introduction to your company?
Victor Rosenberg: It’s a new generation high-tech clear solar window. It’s in the BIPV space, that’s the Building-Integrated Photovoltaic space. And in 2011, we actually formulated our plan and our action to develop the most advanced window. It’s regarded as a most smart building material, and it’s a renewable energy resource.
Rachael Jones: Now to the technology, how does it work?
Victor Rosenberg: The technology works, it’s fairly complex, it allows the visible light to pass through up to 70 per cent and it rejects the infrared and the UV from penetrating the room. The infrared and the UV are then interacted with micro and nanoparticles, inside the glass. And the UV’s converted into the infrared range, which is then by various mechanisms of deflection, the reflection, luminescence, it’s actually then moved towards the edge of the glass, where it’s converted into energy or electricity, by solar strips.
Rachael Jones: What are the advantages of this technology?
Victor Rosenberg: Our technology represents a paradigm shift in the way glass will be used in the construction, in greenhouse or agricultural industries. It will no longer just be a component, but it’ll actually also be a renewable energy resource.
Rachael Jones: At what stage of development is it now and what are the milestones?
Victor Rosenberg: We’re at the pre-development stage now; we’re actually getting ready for production. Production should kick-off within the next two months. Some of our major milestones have been in January 2018. We’ve just signed a collaboration and research agreement with Nanyang Technological University in Singapore, as well as the university in Jerusalem. And they will be working on a research leading towards the printing of solar cells.
Rachael Jones: What is the company’s business model and how do you plan to monetise its technology?
Victor Rosenberg: We do have a partner in China called ROCKY Glass. We will be manufacturing the product in China initially and then we’ll be looking to licence the product, throughout the world. And the income will be derived from both licensing and royalties, from the sale of the products. The certification process, which is really critical and very important, will be done both in Europe and in Asia. And once certification has been completed and we have received our ISA number, it will actually make the commercialisation of the product pretty simple and straightforward.
Rachael Jones: Now to your IPO. How much are you looking to raise and where will the funds go?
Victor Rosenberg: We’re looking to raise a minimum of $5 million and up to $6 million. The funds actually will be used to commercialise the product. It’ll be used towards the certification. It’ll be used for ongoing research and development and of course, to getting some key personnel involved into the business.
Rachael Jones: Where can investors find out more information?
Victor Rosenberg: They can find out more information on our website, they can actually download the prospectus, from our lead manager Ventnor Securities, or from any broker in Australia.
Rachael Jones: Now for a more general question Victor. Where do you see the market for your technology developing?
Victor Rosenberg: There are several and they’re varied markets. The one is in the construction industry, and in the construction industry, the product can be presented in various forms. For example, for the façade of a building, a curtain wall, you can have it as a window. You can have it as a skylight, you can have it as a door, you can have it as an awning. We also have it for agriculture, for greenhouses and further applications would be in infrastructure. And we’re looking at the potential of including IoTs into the product itself, which can then give you further data collection, monitoring mobile phone charging, Wi-Fi accessibility etc.
Rachael Jones: Last question now. What’s the focus for the next 12 months and for longer term?
Victor Rosenberg: The next 12 months, the focus will be on commercialisation of course of the product, ongoing R&D. We need to get the greenhouse established and built. The Federal Government has given us $1.6 million towards the greenhouse testing facility, which we’ll be building. The value of that project is worth about $5 million. It will be built on the grounds of Murdoch University, because they were also testing the soil and the growth, and the yields. And of course most important as well, is to start setting up licensing agreements throughout the world.
Rachael Jones: Victor Rosenberg thank you very much for the update and good luck with your IPO.
Victor Rosenberg: Thank you very much, thank you.