Smart windows company ClearVue Technologies has more than doubled its revenue over the September quarter compared to the previous three months after recording $57,000 to start the new financial year.
ClearVue incorporates solar photovoltaic cells around the edges of insulated glass units and the lamination interlayer between double-glazed glass. The cells then transform the harnessed sunlight into a renewable energy source.
The company has previously deployed its patented technology into various other projects in the Asia-Pacific region, including a park in Sydney, a shopping mall in Perth and various greenhouses in Western Australia and Japan.
According to the company’s September quarterly report, ClearVue’s latest sales numbers eclipsed the previous June quarter figures when the technology developer recorded a total of $21,000 in revenue from customer receipts.
The more than 270 per cent increase in revenue caps a busy three-month period for the company to start the new financial year that saw ClearVue’s revolutionary solar glass greenhouse at Perth’s Murdoch University recognised with a prestigious industry award.
The project took out the Most Innovative Window System in Western Australia honour at the Australian Glass and Window Association Design, or “AGWA” Awards in August.
The greenhouse, commissioned in April last year and a permanent research fixture at the university, is a novel application of ClearVue’s technology by combining window-integrated photovoltaics in the agriculture and building construction sectors. In its first year of operation the greenhouse generated about 5MWh of electricity.
In July the solar energy innovator signed an agreement for the manufacture and distribution of its products in the majority of North American states. The deal is with Florida-based Advanced Impact Technologies, or “AITI”, that has 40-plus years’ experience in advanced glass and polymer products.
Under the agreement, AITI is to be appointed exclusive manufacturer and distributor for supply of ClearVue products in Massachusetts and Florida and has the sole rights to supply the rest of the USA and Canada, excluding Pennsylvania and non-exclusive rights to supply to ClearVue itself products across the USA and Canada.
ClearVue has set its sights on the massive USA market, where an estimated $120 billion of window glass is installed every year — with a growing portion of that market demand for smart windows.
The company has already made an impressive start to the December quarter after it secured its first residential project in Australia last month, with the company set to supply and install eight of its innovative windows to a luxury home built in the Australian Capital Territory. ClearVue aims to use the installation as a reference for future work and says the purchase order amounts to about $160,000.
The property’s construction is being helmed by developer Custom Apartments, specialist builder Elm Building Group and prominent design group Hugh Gordon architects. ClearVue will contribute eight of its solar photovoltaic powered skylights, along with standard non-solar double-glazed doors, windows and a glass pool enclosure toward the home’s delivery.
With more than $10 million in its bank balance, growing revenue and significant recognition from building companies both locally in Australia and abroad, ClearVue appears to be making a name for itself with its ambitions to transform glass into a renewable energy source rather than just a traditional building material.
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