ClearVue Technologies Limited (ASX:CPV) Executive Chairman, Victor Rosenberg talks 2018 highlights, successful certification of the company's solar window technology in Australia and the EU, and agreement with sustainable housing manufacturer Mirreco.
Rachael Jones: Hello I’m Rachael Jones for the Finance News Network. Joining me from ClearVue Technologies Limited (ASX:CPV) today is Executive Chairman, Victor Rosenberg. Victor, welcome back.
Victor Rosenberg: Thank you very much, it’s a pleasure to speak to you again.
Rachael Jones: ClearVue is developing solar technology fitted directly into windows, to produce renewable energy. Where is the company at today?
Victor Rosenberg: Firstly, I just want to say that our listing and our float is very successful. We raised $5 million and of course, that’s given us the funds to go through the commercialisation programs now. Where we are today, we’re laying very solid foundations so that we can build a solid structure, for our business to grow and grow. Number one, a very important step that has happened is that previously part of the solar strips or solar cells, were outside on the frame. What we have done now is we have taken that solar strip off the frame, and incorporated all the solar material into the glass structure.
Rachael Jones: Now to the highlights of 2018, let’s talk about the financials?
Victor Rosenberg: We raised $5 million on our float, which was a successful float. And in actual fact in the last ASX table that came out, we were listed as the fourth most successful float this year.
Rachael Jones: What can you tell me about the operations?
Victor Rosenberg: We are now promoting and selling the technology in the Glass Unit. The frames and other structures are up to architects and engineers to decide, how they want to package the product. This also gives us a lot of flexibility now for applications of the product. It can be used as a window; it can be used as a curtain wall. A curtain wall is basically a skin around the building of glass. It can be used in the façade of a building, very importantly as a skylight, in a house or a building and of course also awnings.
Rachael Jones: Can you tell us more about the change of focus from integrated window frames, to an industry standard Insulated Glass Unit - what does that mean?
Victor Rosenberg: Our product is allowed to be sold in Australia, both for the IG unit and of course the curtain wall. We have complied with the European standard, which is another major plus. That gives us the right to use the letters CE. And we have just come back from the States, where we are looking to get American accreditation and that’s called a UL. There we need to do two tests, one is for electric and one is for the structure. There is no standard that actually combines both, they are separate standards. What we are hoping to achieve in the long term, or near term actually is to create a new standard, which incorporates both the electric and the structure, in one BIPV product. That would be an unbelievable achievement for us.
Rachael Jones: Now to your agreement with Mirreco. Who are they and what has been agreed with them?
Victor Rosenberg: They have developed a process using the hemp, which when formed it’s like concrete. So it’s good for structures like homes and buildings, and any other construction. What they want is to have an absolute zero net energy structure. And in order to achieve it, they’ve approached us to use our glass technology in their structures. Both the mini home, which we’ll be doing in December or late November/early December and any future structures, like bigger homes that they will be developing.
Rachael Jones: Last question now Victor. What’s the focus for the next 12 months and for longer term?
Victor Rosenberg: Moving forward, the real exposure of our product is going to be at the Fenestration Show in Port Douglas, where we’ll be exhibiting our products in Australia. In October, we are going to launch in Europe at Glasstec in Germany, which is I think, one of the largest glass shows in the world. In fact we were invited there, because they’re interested in our new technology and it will be displayed in the new innovation centre, or area. And in November, we will be going to Greenville in Chicago where we will be displaying our products again, at one of the biggest shows in northern America. And those are really the three shows that we’re looking to launch our product globally.
Rachael Jones: Victor Rosenberg, congratulations on your results and thanks for the update.
Victor Rosenberg: Rachael thank you very much for taking the time. It’s my absolute pleasure and I always like to keep you updated, as we progress into the future.