ClearVue Technologies Ltd prepares for first US commercial installation of energy-generating solar windows, shares up
ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) is trading higher after inking a letter of intent (LOI) with LabReal LLC, a private investment company, to install its patented solar energy windows at a new medical office and laboratory building in Atlanta, Georgia.
LabReal has contracted with a confidential client, which will lease the new purpose-built medical offices, lab and diagnostic services building.
As a result of the LOI, securities have been as much as 14.55% higher to A$0.315.
First commercial sale in North America
The project, which will use 250 square metres (2,691 square feet) of ClearVue photovoltaic glazing, will be the company’s first commercial installation in North America and will serve as a reference site for securing larger sales in the region.
Pimsler Hoss Architecture (https://www.pimslerhoss.com/), based in Atlanta, is the architect for the building project.
The project is in the final stages of planning, with construction expected to start during the fourth quarter of 2022.
Energy efficiency and power performance
ClearVue has so far deployed its solar glass in various projects in the Asia-Pacific region – such as a greenhouse in Japan – as well as conducting a trial in a building in New York exploring the energy efficiency and power performance aspects of the ClearVue product.
ClearVue North American CEO Basil Karampelas said: “ClearVue is the only company in the world that has a clear solar-glass product deployed and installed in the market.
“ClearVue’s electricity-generating clear glazing technology is strategically positioned to complement and support the case for the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency and carbon footprint reduction goals.
“The Atlanta project is but the first in the US, a market we believe will be very accepting of our technology.”
Executive chairman Victor Rosenberg added: “The ClearVue technology represents a paradigm shift in the way glass will be used in building construction.
“Glass will no longer be just a component of construction, but also a renewable energy source and a key element in construction decarbonisation efforts – both for refurbishments and for new builds.
“The Atlanta project will demonstrate this and provide a key reference site for the company in this target territory.”
ClearVue plans to update the market on the LabReal project in Atlanta, and its US market entry efforts in general, over the coming months.