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CLEARVUE TECHNOLOGIES LIMITED — AGM Information 2023
Nov 29, 2023
64697_rns_2023-11-29_0667c8b4-ba77-462c-9a50-828986ceba97.pdf
AGM Information
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ASX Announcement
30 NOVEMBER 2023
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ASX RELEASE ǀ CLEARVUE TECHNOLOGIES LIMITED (ASX:CPV | OTC:CVUEF)
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Chairman address at the 2023 Annual General Meeting
30 November 2023 : ClearVue Technologies Limited (ASX:CPV) ( ClearVue or the Company ), a leading smart building materials company, advises that the Chairman address for the 2023 Annual General Meeting, and the Investor Briefing presentation being held at 10:00am AWST are attached.
Authorised by the Board of ClearVue Technologies Limited.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ClearVue Technologies Ltd
Anna Abrossimova Head of Marketing [email protected] +61 (0) 401 398 088
Media
Investors
Adrian Mulcahy Tristan Everett [email protected] [email protected] +61 (0) 438 630 422 +61 (0) 403 789 096
ABOUT CLEARVUE
ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.
ClearVue’s electricity-generating glazing technology is strategically positioned to complement and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.
Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU.
ClearVue’s window technology has application for use in the building and construction and agricultural industries (among others). ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University in Perth, Western Australia to develop the technology.
To learn more please visit: www.clearvuepv.com
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ASX Release | 30 November 2023
2023 ClearVue Technologies Annual General Meeting
30 November 2023
Chairman’s Address
Good morning
On behalf of the Board of Directors, welcome to the 2023 ClearVue Annual General Meeting.
I would like to start by acknowledging the traditional custodians of the land on which we meet today, the Whadjuk people of the Noongar nation, and pay our respects to their Elders past, present and emerging.
I am delighted to be here today to give you an overview on the significant progress we’ve made during the last financial year to take our unique technology to markets around the world.
We’ve made considerable changes internally to drive shareholder value, including accelerating the commercialisation path of our core products, securing flexible funding options should we need them, hiring global sector experts to harness deeper industry contacts and setting the company up for longterm sustainability.
The important milestones we reached showcase ClearVue as a global leader in smart building materials. I am proud that we provide the highest energy-output clear solar glazing technology that can be easily integrated into window manufacturing on the market.
These milestones have also put us firmly on our path to scaled commercialisation. We have proven the excellent solar control properties of our solar glazing through the recently announced BCA Skylab testing - which demonstrated reduced heating and cooling loads as well as generating clean energy on-site. Importantly, ClearVue offers the only clear solar glass able to be produced at an industrial scale with no modifications to industry-standard production lines and minimal impacts on production time which also meet commercial architectural and ESG building requirements.
Over the past 12 months, we have demonstrated the real-world performance, benefits and mass manufacturing capability of our technology, and entered the North American, South Asian, African and Australian markets with initial commercial activity and new manufacturing and distribution agreements.
The demonstration of our ability to integrate into existing IGU manufacturing lines and to produce at scale has been a significant milestone for the Company and has made execution on the Company’s commercialisation model of licensing manufacturers and distributors of insulated glazing products, and the negotiations for the same, into a very simple process - this is starting to be reflected through our recently announced signings of new licensees in South Africa, Israel and most recently with 8G Solutions in the US.
Chuck Mowrey, one of our directors, and the CEO of 8G Solutions is here with us today and will give us some of his insights into the US market and the reason 8G Solutions has signed with ClearVue at the end of today’s formal proceedings.
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ASX Release | 30 November 2023
Our technology could not be timelier. Demand for clean, renewable energy solutions is accelerating around the world driven by government regulations and evolving consumer sentiment. We provide a commercially viable and cost-effective solution for the building and construction and agriculture sectors to meet current and incoming sustainability mandates and a tangible path to net zero.
Other internal changes this year include us welcoming Martin Deil as Chief Executive Officer. Martin is focused on expediting the commercialisation of our products and expanding our footprint into key markets in the United States, Asia, Europe, Africa and of course Australia. Martin is a globally experienced and recognized leader with a remarkable industry focus. He brings more than 30 years of experience in the international façade and architectural envelope industry and has held previous CEO and C-suite roles in some of the leading companies in this field.
We also welcomed three more leaders who are expert at navigating the global façade and glazing industry, each bringing decades of deep industry expertise to their roles: Gerd Hoenicke (joining us on the screen) and Charles ‘Chuck’ Mowrey as our two new non-executive Directors and Clifton Smyth as our Chief Business Development Officer - who are all actively involved in accelerating our growth trajectory. I am not going to go into their experience here today as we have limited time, but I would urge you all to go and have a look at our website where you can read up on each of them and I know that you will be impressed that we have really put together a fantastic team to drive this business to the next level.
These appointments also reflect the increasing maturity of our company as we launch our products into important key global markets. I thank all our Board members for their efforts this year.
To conclude, ClearVue is a deep tech company built around a highly scalable licensing model - all the steps taken over the last 12 months have been laying the foundation for the Company that will start to play out in the short term but also well into the future – a future that needs solutions to the serious problem of decarbonisation of the built environment. ClearVue’s technology and products are a real solution for this problem and can be delivered easily and at scale.
Finally, I’d like to thank you, our shareholders, for your continued support and confidence in the company. We look forward to updating you on our accelerating commercialisation though FY24 as we progress with our growing pipeline of commercial opportunities.
I’ll now move to the formal part of the meeting after which Martin will brief you on the key developments during the period and to outline our strategic objectives moving forward. Martin will also introduce Chuck to say a few words. Thank you again.
Victor Rosenberg
Non-Executive Chairman
30 November 2023
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ASX Release | 30 November 2023
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C L E A R V U E T E C H N O L O G I E S L I M I T E D
Annual General Meeting Investor Briefing
30 November 2023
ENERGY EFFICIENT | ENERGY GENERATING | CLEAR GLASS
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. 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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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
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Observations from the new CEO
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Martin Deil Chief Executive Officer
Business update – key takeaways
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BENEFIT FROM INDUSTRY EXPERIENCE
GEN-2 RESULTS MASS PRODUCTION POSITION THE CAPABILITY COMPANY FOR VALIDATES GROWTH BUSINESS PLAN
POSITIONED FOR GROWTH
Circa 100 plus years of façade industry experience has been injected into the company
Building and Construction Authority (BCA) results validate R&D strategy
Plus: façade solution provides a path for net zero buildings
Our ability to be Corporately and incorporated into existing operationally – fabrication lines is a preparations for growth competitive advantage have been actioned
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Observations from the new CEO
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What is important:
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A global company footprint represents a large opportunity
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BCA testing results
& mass production
capability are
defining for the
company
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Process and sales
focus – getting ready
for scale
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Listen to what the
consumer is saying
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
The business today – key themes
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Testing and certification is expensive but absolutely necessary
Emphasis on the US market is starting to be realised – global opportunity is only beginning to be appreciated
Segmented revenue streams will drive long-term growth
Transition from R&D to commercialisation – new skill sets and internal discipline required
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Business model lends to fast geographic expansion
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Cannot overstate the importance of the ASX Announcement 4[th] September 2023 “Mass Scale Manufacturing” Fast, scalable deployment across existing (or legacy) glass fabrication lines is achievable across the globe
UNITED STATES
ASIA/MIDDLE EAST/AFRICA
UK/EUROPE
AUSTRALIA
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❑ US scaled manufacturing is now within reach
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❑ Pre-sales conversations are encouraging
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❑ Policy settings remain accommodative at Federal and State Level
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❑ Refocus on OTC market
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❑ Recognition of the true potential of the region
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❑ Company will allocate additional resources over time to capitalise on opportunities
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❑ Expect more licensees over the next 12 months
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❑ Emphasis on demonstration and lighthouse projects
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❑ Accommodative policy settings play well for commercialisation
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❑ Pre-sales conversations growing
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❑ The market is playing policy catchup, but change is coming quickly
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❑ Manufacturing setup will be a priority
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❑ Patient business development activities are likely to bear fruit over the next 12 months
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Observations of market – “Timing is Everything”
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ClearVue Technology meets changes in policy, governance, and buying behaviour
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GOVERNMENT / POLICY SETTERS Fills void on how to achieve net zero policy agenda Meets citizens’ expectations to address climate change
COMPANIES / ORGANISATIONS Mechanism to meet current and future building compliance obligations Likely to meet ESG mandate requirements – green building
COMMUNITY Ego “doing my bit for the environment” Meets purpose/function
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Validation: BCA, why are we so excited?
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Hypothetical example: large public project
Façade engineers’ major pain point is Thermal Performance
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BCA results validate ClearVue[PV] in three ways:
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Energy generation is in line with expectations
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- 22.8% reduction in cooling load exceeded expectation
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- 29.4% improvement in glare probability exceeded expectation
Leads to a better carbon outcome for the project
| OUTCOME | VALUE |
|---|---|
| Total energy consumed p.a. | 300,000 MWh |
| % of energy used for cooling | 65% |
| Implied energy use for cooling | 195,000 MWh |
| ClearVuePV solar control benefit | 22.8% |
| ClearVuePV cooling energy saving | 44,460 MWh |
| Monetary savings assuming $250 MWh | $11.12 million p.a. |
| Plus: ClearVuePV IGU autonomous energy | + energy generation |
| Plus: Reduction of carbon footprint | by 195,000 MWh |
| Plus: Improved tenant comfort (glare) | Happier tenants |
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Commercial acceptance will take time
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USER ADOPTION
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Global Façade Industry Pragmatic Medium Scale Commercial & commercialisation Public Infrastructure Market approach Greenhouse Market ASX Announcement 30 October 2023 Short Term revenue Medium Term revenue Long Term revenue opportunities opportunities opportunities
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ADDRESSABLE MARKET
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Focus on process to drive shareholder value
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We will instil discipline across all elements of the business as we move to a sales and marketing business
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CUSTOMER CENTRIC How do we help our licensees sell product
SYSTEMISE Online support tools for sales process
LEARN TO SAY NO
Bring everything back to licensee and shareholder value
TRAIN THE TRAINER We need to be educators ClearVue should have a low head count
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
ClearVue value stack remains true
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Green buildings demand rental premium CLEARVUE DRIVES ECONOMIC UPLIFT Green buildings demand sales premium Solar control properties drive operational savings CLEARVUE DRIVES Power generation OPERATIONAL SAVING Potential better post tax outcome Operational carbon payback CLEARVUE DRIVES ESG PERFORMANCE OBJECTIVES Positive environmental and social outcomes
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Momentum is building
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KEY MILESTONE AS PRESENTED IN ASX INVESTOR PRESENTATION 27 JUNE 2023
Global Sales Mass production Integrated Façade Scaling up of Solution sales activity sales in US, Asia, Execution of Europe sales pipeline in key markets Continued exploration of Final certification of strategic partners New building First Gen-2 product First envelop and Commercial Sales growth Execution of Commercial second Façade Manufacturing Greenhouse capability – Refinement Proof of Mass $30m ATM - Systems building Aust. Grant Continued of operations BCA Results Manufacturing Facility USA Archetype R&D ~~1 JULY TO 30 NOVEMBER 2023~~ TO 30 JUNE 24 2024/25 FY 2025+
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
Outlook for the next 12 months
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The Board is aware of capital requirements
Build a solid foundation first in key markets with fully certified products
Process is “everything” in delivering customer and shareholder value
Managed sales growth to allow sales and logistics capabilities to mature
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Maintain focus on R&D
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
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8G Solutions’ Partnership With ClearVue
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Charles “Chuck” Mowrey Non-executive Director of ClearVue Technologies Founder and CEO of 8G Solutions
Who are 8G Solutions
HOW WE MEET THE AMBITIOUS PLANS INDUSTRY EXPECTATIONS We are developing a ClearVue: energy generation portfolio of high-end + solar control energy-efficient glazing LuxWall: low thermal solutions like ClearVue, conductivity vacuum IGUs LuxWall, Inovues.
OUR COMPANY
Façade specialists in energy efficient glazing solutions 4 states and growing 150+ staff Focus on value, not low bid
ClearVue: energy generation + solar control LuxWall: low thermal conductivity vacuum IGUs for energy savings Inovues: retrofit adaptive glazing system
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LED BY CHARLES MOWREY
50+ years of experience in the commercial glass and glazing industries, 35 years at CEO & board level. Recognized for leading energy efficiency, Net Zero, vacuum insulation glass (VIG) and dynamic glazing since 2000.
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
ClearVue[PV] is significant regardless of government incentives
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❑ US 1970’s Energy Crisis
Visible light transmission vs heat solar gain
Stop heat gain at all cost
- Heavily tinted glass (GL14)
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Pre 1970 1970s 1980s 1990s 2000s 2010s 2020s 2024+
VLT SHGC
ClearVuePV VLT ClearVuePV SHGC
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Reflective “mirror” coatings
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❑ US 1980’s-90’s
Let in light but not heat
- Low emissivity coatings
• Light silver sputter coating on glass. Single layer /Double layer/ Triple Layer over 20 years
- ❑ US 2000-2010’s
More light, less heat
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Low E improved
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Post temperable from float glass (PPG/Vitro, Guardian)
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❑ 2020
Give Up Light Transmission
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More tints
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Lower vision-to-wall ratio
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Dynamic tinting (EC)
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❑ 2024+
Keep light, stop heat, generate power
- ClearVue[PV]
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
ClearVue[PV] promotion in the next 12 months
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| Key audience | Value proposition | To-do items | To-do items | To-do items |
|---|---|---|---|---|
| OWNER | Net Zero Lower carbon Easier retrofit Value Payback Tax credits |
Sales process targeting select owners, developers, property managers |
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| ARCHITECT | Mechanical / HVAC Improved vision glass to wall ratio Aesthetics (solar boarder, vacuum cap) |
AIA events “Lunch and learn” series U-value, SHGC |
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| CONTRACT GLAZIER | Technical (framing pocket, wiring, inverters) Healthy markups Renovation potential New construction potential |
Education and training Pricing structure Schedules Capacity |
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www.clearvuepv.com
ClearVue Technologies Ltd | AGM Presentation
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Q & A
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CLEARVUE TECHNOLOGIES LTD
Anna Abrossimova Head of Marketing [email protected] +61 (0) 401 398 088
Suite 9 / 567 Newcastle St, West Perth, Western Australia 6005 +61 8 9220 9020 [email protected] www.clearvuepv.com
INVESTORS
Adrian Mulcahy [email protected] +61 (0) 438 630 422
MEDIA
Tristan Everett [email protected] +61 (0) 403 789 09