Grants and funding, Manufacturing News, Sustainability

ClearVue secures $7.5 million placement

Smart building materials company ClearVue Technologies has announced it has received commitments from investors to raise approximately $7.5 million.

The funding is set to be completed via the issue of approximately 23.4 million fully paid ordinary shares in the Company at an issue price of A$0.32 per Placement Share.

 “A primary objective for the board and management has been to introduce the Company to the institutional investment market,” said ClearVue CEO, Martin Deil.

The current capital raise has successfully expanded the company’s registry to include a diverse mix of new institutional and professional investors, who constituted the majority of the placement, with a smaller portion coming from sophisticated investors. 

“Notably, many of the institutions joining the register are based in Hong Kong. The Hong Kong market is a key focus for the Company in Asia, as evidenced by our engagement with the Hong Kong government through the EMSD solar glass study announced in March 2023,” said Deil.  

“A secondary objective through this raise has been to ensure the company is funded for the next steps in its commercialisation journey with funds raised being used to support execution of our growing sales pipeline through additional staff and infrastructure in the US as well as systems and inventory to support global sales.” 

The Placement follows a capital raise completed earlier in the year focused on funding completion of certification and testing of the Company’s Gen-2 products.

This led to anticipated early sales including the CFMEU project in Melbourne, the ENEX 100 project at 100 St Georges Tce, Perth and the recently announced project and collaboration with Prefabulous in New South Wales. 

Proceeds from the Placement support ClearVue’s expansion into the US market with an allocation of funding towards building its US infrastructure and strengthening its US team to support execution of sales and licensee engagement. 

Additionally, funding will be used to acquire and develop software and systems including an ERP system required for global delivery of components and products, as well as for quality assurance tracking and management of finished products along with data collection. 

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