Solar powered glass innovators ClearVue (ASX:CPV) have received a hefty research-and-development tax credit of close to half a million dollars, with the company continuing to accelerate progress on its unique product.
ClearVue has reported an operating expenditure from the beginning of the financial year to 30 September of $865K, with the tax credits offsetting more than half of the company’s cash burn.
The smart building materials business owns a first-mover advantage for clear glass that also generates solar power.
The technology redirects infrared and UV rays to solar PV units while still permitting up more than 70 percent visible light through the window pane.
One of the largest breaks for the company has been to develop an insulated glazing unit (IGU) which incorporates solar PV units inside a standard window frame, with previous versions requiring an additional bespoke frame to be built around the solar units.
The massive technological leap radically expands the horizons for ClearVue, permitting its window technology to potentially be used in any commercial or residential setting, from individual units to curtain walls.
At the time of the commercial breakthrough ClearVue executive chairman Victor Rosenberg said:
The move away from dependency upon any specific frame design to an industry standard IGU that can be supplied to innumerate framing companies and window fabricators will significantly increase ClearVue’s potential to reach a global market faster. This simple step has widened our scope for even greater licensing opportunities.”
The company has since signed a number of MoUs to begin demonstrating its massive blue-sky potential. These MoUs will see ClearVue implement its technology in a number of real-world settings.
ClearVue has also been active in the glass industry, with plans to attend a number of international trade shows, such as Glasstec in Dusseldorf and GreenBuild in Chicago, which will continue to build awareness of the company’s smart building material.