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CLEARVUE TECHNOLOGIES LIMITED — AGM Information 2020
Nov 29, 2020
64697_rns_2020-11-29_47148a72-01d4-49b0-b411-06f00fa94027.pdf
AGM Information
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C L E A RV U E T E C H N O LO G I E S L I M I T E D
A G M P R E S E N T A T I O N November 2020
Legal Disclaimer
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This presentation has been prepared and issued by ClearVue Technologies Limited (the “ Company ”) to assist it in informing interested parties about the Company and its progress which is current as at the date of this presentation (November 2020). This presentation is for information purposes only it should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. This presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation. Neither the Company or its advisers have verified the accuracy or completeness of the information, statements or opinions contained in this presentation. This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.
Future Matters | This presentation may contain reference to certain intentions, expectations, future plans, strategy, revenue forecasts and prospects of the Company. Those intentions, expectations, future plans, strategy, revenue forecasts and prospects may or may not be achieved and may be “forward-looking statements”. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy, revenue forecasts and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.
US Disclosure | This document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the US Securities Act of 1993 (“ Securities Act ”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.
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I. CAPITAL STRUCTURE & GOVERNANCE
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Corporate Summary
Capital Structure
| Ordinary Shares on Issue | 143,531,056 |
|---|---|
| Options on Issue | 82,068,188 |
| Performance Shares | 13,000,000 |
| Market Cap @ $0.31 as at 27 Nov 20 | ~$44 million |
| Cash Balance as at 30 Sept 2020* | $2.788m |
| Debt | Nil |
*Based on the Company’s Appendix 4C for the quarter ended 30 September 2020.
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Share Price Performance (May 2018 – Nov 2020)
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| Management Key Management Role Experience Brief Bio Sales & Finance Executive with 17 years’ experience; Established grew and ran national reseller Directors Role Experience Brief Bio Victor Rosenberg Chairman 25 years glass industry Serial Entrepreneur. Globally recognised for his contributions to glass industry. Extensive business experience in senior management and sales. Stuart Carmichael Non-Exec Director 17 years sales/finance industry Member of the Institute of Chartered Accountants with over 20 years accounting and corporate finance experience.Currently Non-Executive Director of Swick Mining Services (ASX:SWK), Chairman of Schrole Limited (ASX:SCL) and Serpentine Limited (ASX:S3R) and Non-executive Director of De.mem Limited (ASX:DEM) and Osteopore Limited (ASX: OSX) Roger Steinepreis Non-Exec Director 30 years corporate law Corporate and resources lawyer with 30+ years’ experience. Legal adviser to a number of public companies on a wide range of corporate related matters. Currently serves as Non-Executive Director on various Boards including Petronor E&P Limited (Oslo Access: PNOR), Latitude Consolidated Limited (ASX: LCD), and is Non-Executive Chairman of Apollo Consolidated Limited (ASX: AOP). Deborah Ho / Brett Tucker Joint Co Secretaries Combined over 12 years corporate and compliance Company Secretaries to a number of ASX listed and private companies and has been involved in numerous public corporate transactions and acquisitions. Mr Tucker is a Chartered Accountant and Ms Ho is an Associate of the Governance Institute of Australia. New Board |
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| Ken Jagger CEO 17 years sales/finance industry , networks for General Electric, Halifax Bank of Scotland Australia, Commonwealth Bank. Former partner of a boutique investment bank. Jamie Lyford COO & GC 25+ years IP law / technology commercialisation IP and licensing lawyer with over 20 years experience. Previously worked in BHP, IT company ATOS and ran Western Australian Government Innovation Centre. Geoff Edwards CFO 30 years experience in CFO, senior financial and commercial roles Geoff is qualified CPA with over 30 years experience in CFO (including ASX listed companies), senior financial and commercial roles across a variety of service organisations. During that time, Geoff has acquired a wealth of knowledge with start ups, mergers and acquisitions, high growth businesses, equity and debt capital raisings, turn arounds, building financial systems and procedures and strategic planning and implementation. |
| Technical Team Key Management Role Experience Brief Bio Steve Coonen VP Development – Products, Technology & Sales (North America) 38 years experience in photovoltaics; 26 year focus on BIPV Steve Coonen is a photovoltaic consulting engineer, specializing in building integrated photovoltaics (BIPV) based in California. Mr Coonen is a pioneer in the BIPV field and whilst working on the ClearVue technology development pipeline assists with North American sales opportunities. Mr Coonen currently has over 3,000 BIPV systems fielded to his credit, including the California Academy of Science in San Francisco, the Whitehall Ferry Terminal in Manhattan and 1,500 new houses for Pulte Homes. Dr Mikhail Vasiliev Lead Scientist 20+ years physics Mikhail has extensive science and technology background, from developing fibre-optic sensors and laser interferometers in the 1990’s, to the design of solid-state lasers in the 2000’s, followed by 15 years of experience as Senior Research Fellow at Edith Cowan University, where he concentrated on nanotechnology and materials science projects and still supervises PhD students. He has contributed to the design and development of Clearvue core components and technologies, including advanced low-e coatings, glazing systems, luminescent/diffractive interlayers, and solar window systems. He is a multi-skilled expert in the fields of optical physics, optical engineering, photonics, nano-engineered functional materials and also in scientific software development. Mikhail has a PhD (Physics), Victoria University (Melbourne, Australia) and has co-authored multiple (> 50) high-impact research articles published in international peer-reviewed journals. Tao Zhang Structural Engineer 16+ years engineering Tao is a chartered professional engineer in both Australia and Chinas with 16+ years experience. Tao works as Project Manager & Senior Technical Officer in ClearVue and leads our technical team on ClearVue product certification programs and is involved in all aspects of ClearVue’s R&D |
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| efforts. Tao also supports our sales efforts and manages our global OEM manufacturer and supplier relationships. Chris Cole Mechatronic Engineer Graduate mechatronic engineering A recent graduate of Sydney University with a degree in Mechatronic Engineering (first class honours), Chris has a background installing sensing equipment on solar and wind farms. He is involved in the design, development, construction, programming and testing of our Smart Façade prototypes, and brings a knowledge of integrated software, hardware and AI systems to the team. |
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II. COMPANY UPDATE
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ClearVue’s Technology – A Clear Solar Window
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ClearVue Technologies Limited (ASX: CPV) operates in the Building Integrated Photovoltaics (BIPV) sector - glass windows and building surfaces to produce renewable energy.
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Clearvue PV is a transparent building material capable of paying back it’s embodied carbon multiple times during its operational and installed lifetime.
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ClearVue’s technology and product can achieve sustainability goals in new building projects and refurbishments - including assisting with achieving “Net Zero” goals in buildings – a key driver in modern building design and architecture.
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The ClearVue product can achieve significant energy cost savings , prevent unwanted solar radiation (UV and Infrared) from entering a building, and then convert unwanted radiation into electricity .
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ClearVue been working since 2011 to develop the core IP that can convert a pane of glass into a luminescent solar concentrator (LSC).
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ClearVue’s Solar Window
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❑ An activated interlayer between two panes of glass
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❑ Visible light (VLT) passes through the glass
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❑ Micro & Nano particles interact with Ultraviolet (UV) radiation which is down-converted to longer wavelengths and scattered along with Infrared (IR) light to the edges of the glass
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❑ IR is collected by Photovoltaic (PV) cells and produces electricity
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❑ Reduces heat and blocks damaging UV and IR radiation
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❑ Insulation properties reduce heating and cooling costs
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The ClearVue Advantage
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❑ Clear and Functional – fits multiple applications
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❑ Efficient – 3 to 4% conversion of radiance to
energy
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❑ Scalable – up to ~3sqm windows
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❑ Easy to Manufacture – integrates into existing window manufacturing production supply chain
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❑ Certified - USA – UL; Europe - MEA & IEC; Australia under AGWA & Intertek
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❑ Cost Effective - Competitively priced, short payback periods
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❑ Ready to Deploy - Commercialisation commenced
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Commercialising ClearVue - deploying the technology
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Clearvue’s aim is to deploy the existing technology for commercial return
❑ Deployments
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Commercial High Rise Buildings
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▪ Protected Cropping – Greenhouses ▪ Showcase Deployments
❑ Key Factors
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Utility Prices
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Government Incentives
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Climate and Geography
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Glazing regulations
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Market Size
❑ Key Locations
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Australia
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USA
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Northern Europe (Germany)
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China (JV)
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❑ Manufacturing Supply Chain
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China & Taiwan
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▪ US
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Europe Interlayer
❑ Market Entry
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Digital Campaigns & new website
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▪ Licence arrangements (KPI’s)
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Direct Marketing (feasibility study’s)
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▪ Showcase Deployments
❑ Partners / Promoters
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Architects
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Façade Engineers
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Project Developers
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Property Fund Manager
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Resellers
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Greenhouse developers
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Farmers
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Business and Revenue Model
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ClearVue aims to derive revenues from:
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❑ Direct sales: The Company intends to initially sell and supply fully assembled IGU/window products direct to distributors and licensed channel partners in Australia and worldwide. Then, as manufacturing licensees are appointed :
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in different territories the revenue streams that are expected to follow will apply
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❑ Component sales (US$245 m2): The company intends to sell technology/product components to its manufacturing licensees including its proprietary nano and micro particle doped activated interlayer and its proprietary mini solar photovoltaic strips for use inside of each integrated glazing unit*;
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❑ Illustrative minimum sales requirements of a distribution only licensee or a manufacturing/distribution licensee is: 5,000 sqm for year 1, 10,000sqm for year 2, 20,000 sqm for year 3, 30,000 sqm for year 4 & 40,000 sqm for year 5.~
Notes:
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*Complete ClearVue IGU’s initially to be sold in Australia by ClearVue to gain market acceptance. Approx. per sqm rate may change based on order quantities and scaling, country and project specific requirements.
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~this is not a forecast and is provided as an illustration only.
Size of the Market
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“By 2060, the world is projected to add 230 billion m2 (2.5 trillion sq ft) of buildings, or an area equal to the entire current global building stock. This is the equivalent of adding an entire New York City to the planet every 34 days - for the next 40 years.” (Zero Code: https://zero code.org/)
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Global market for building-integrated photovoltaic (BIPV) technologies was USD $2.4 billion in 2016. Market to grow to USD $4.3 billion by 2021 (with a compound annual growth rate (CAGR) of 12.2% for the period 2016 to 2021).¹
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ClearVue’s target market represents in excess of 2.1 billion sqm² of glass per annum (total market size 5.5 billion+ sqm of glass per annum)² ( Target Market ).
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It is expected that a small 10 floor 25,000 sqm building could deploy approx. 3,150 sqm minimum of ClearVue product (assuming 3 building sides of 50m long and part floors of 2.1m high only)#.
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A single large building, for example the One World Trade Center (Freedom Tower) New York City has over 93,000 sqm of glass.
Sources:
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https://www.bccresearch.com/market-research/energy-and-resources/building-integrated-photovoltaics-markets-report-egy072C.html
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https://www.nsg.com/~/media/NSG/Site%20Content/Temporary%20Downloads/Japanese/NSGFGI_2011%20EN2.ashx
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ClearVue does not represent that it will be able to obtain such market share or that such revenue can be achieved. See Disclaimer Slide Page 2. # See ASX Announcement - Technical Update 28/03/2019 - https://www.asx.com.au/asxpdf/20190328/pdf/443v6jr2zhbvm7.pdf
Continued Product Development
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Commercialising ClearVue- deploying the technology
2018
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❑ MOUs signed for first licensed distributors
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❑ MOUs signed with various collaborators including Mirreco to build showcase mini-home
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2019
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❑ First demonstration site, Warwick Grove Shopping Centre atrium
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❑ ECU research agreement for micropattern solar cells
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❑ Supplier agreement signed with BeyondPV of Taiwan to secure supply of solar strips
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❑ UL and IEC certification for ClearVue’s solar PV IGU product allowing sales in North America and Europe
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2020
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❑ Agreement with eLstar Dynamics BV to develop project combining ClearVue window capable of lighting control (demonstrated)
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❑ Distribution Agreement with Insulsteel Building Sciences US and
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❑ LOI with Jinmao Green Building Technology Co (subsidiary of Fortune 500 Sinochem)
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❑ MOU signed with Virtuality Venues – “City of Lights” – 568 acre project with 12 hotels
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❑ Distribution Agreement with AMB Brasil with first order from South America for 500sqm
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❑ Order from Japan for sustainable greenhouse at Fujisan Winery near Mt Fuji
Commercialising ClearVue- deploying the technology
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Upcoming Milestones (2020-2021+)
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❑ Showcase project – Greenhouse Project Murdoch (in progress);
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❑ Jinmao villa China (in progress);
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❑ Fujisan Winery Sustainable Greenhouse (in progress);
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❑ Showcase project – Mirreco mini-home;
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❑ Distribution Agreement with Jinmao (in negotiation)
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❑ Digital marketing campaign development (in progress)
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❑ Securing additional licensees in target geographies (in progress)
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❑ Conversion of showcase projects and marketing into purchase orders
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AMB Brasil, Sao Paulo Brazil
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Beijing Jinmao Green Building Technology Co. Ltd (Sinochem) in China – Villa Project Heibei Province
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Beijing Jinmao Green Building Technology Co. Ltd (Sinochem) in China – Villa Project Heibei Province
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Murdoch Greenhouse Project
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Sustainable Winery Greenhouse, Mt Fuji Japan
Architects rendering showing anticipated deployment of ClearVue PV IGUs into central section of sustainable greenhouse at Fujisan Winery near Mt Fuji in Japan.
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Investment Highlights
❑ Attractive industry thematic
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Investment opportunity in global growth sectors of BIPV, smart cities and food security
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▪ Unique with high consumer buy in
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Regulatory support across multiple jurisdictions – EU and US focus – change in Govt in US anticipated to impact growth
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Large Addressable Market
❑ Proprietary Technology
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First in class product
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Strong IP portfolio
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Regulatory requirements met for sales in key regions
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Price competitive with payback period
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Strong product and tech development pipeline
❑ Near term catalysts
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Showcase deployments – under way
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Continued deal flow
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High quality counterparty engagement
❑ Refocussed Business
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Investor entry at near to historical lows
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New CEO
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Restructured Board
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III. US CASE STUDY
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Example Evaluation of Deployment of ClearVue Solar Technology
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Example Evaluation of Deployment of ClearVue Solar Technology
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www.clearvuepv.com facebook.com/clearvue/ linkedin.com/company/clearvuepv/ +61 8 9220 9020
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