In the next Bulls N’ Bears instalment on what made stocks jump in 2023, we look at how ClearVue Technologies bucked the trend of how big share price movers were mainly companies that stare at the ground for a living. It proved that staring through solar power-generating windows can also move the market when it hit a high of 66 cents in November.
But ClearVue Technologies proved that staring through solar power-generating windows can also move the market when its smart glass technology started kicking goals through various overseas distribution deals.
The WA-based company’s share price was not doing much until mid-May, when it moved from about 16.5 cents to hit a high of 66c in November after news of its agreements in several countries began to filter out.
In a refreshing break from the proliferation of mining stories from the ASX, ClearVue’s glass technology presents an innovative green tech tale. The glass uses proprietary nano and micro scale particle technology – referred to as “magic dust” – to internally diffuse, redistribute and reflect sunlight towards the edges of the panel where it is collected by photovoltaic (PV) modules.
The company says the modules have been optimised to allow the sun’s energy to be harvested even when it is cloudy. The product prevents excess heat and solar radiation passing through it, while simultaneously generating electricity and allowing visible light to pass through.
Last year’s high-flying 300 per cent price hike was a gradual six-month rise that was initially triggered by a May 18 announcement relating to the company’s flagship integrated glazing units (IGUs), which contain the proprietary technology, to the market. Investors liked the look of the new product and took the company’s share price to hit 22.5c early in July.
From there, the share price receded to about the 17c mark, before the company received ASX speeding tickets on July 10 and August 7 due to hikes on no news.
ClearVue suggested new board appointments and the award of a $2 million government grant may have had something to do with the July 10 rise, but shrugged its collective shoulders on August 7 when the share price hit a high of 35c.
On September 4, ClearVue revealed the successful mass-scale production of its IGUs, confirming the scalability of the product using existing global manufacturing production lines. Investors could now see that the product was commercially viable and sat in a lucrative market niche, sending the company’s share price to hit a high of 38c.
More news came on October 3 when ClearVue confirmed that testing by the Singapore Building and Construction Authority at its Skylab facility found the product could reduce cooling energy usage by 7.5 per cent when compared to best-in-class Singaporean conventional double glazing. The study also found that thermal comfort was improved 96 per cent of the time and glare was down by 75 per cent.
Along with the power saving and cooling enhancement, the IGUs produced 0.38kWh of electricity per day, which could be increased to 1.7kWh per day with the addition of the company’s “Spandrel Solution” energy-generation unit to the building façade.
Then on October 30, the company announced it had received its first order from the US in the form of a US$158,336 (A$252,000) contract to supply its IGU product for an agricultural greenhouse project in California. It pushed the company’s share price to 37c – but the biggest price hike was yet to come.
ClearVue securities moved from about 34c on November 1 to touch 66c on big volume by the end of the month.
On November 16, the company revealed it had entered the South African market by granting exclusive rights for a five-year term to Concept Business Group to distribute its IGUs in South Africa, Lesotho and Botswana.
United States-based company 8G Solutions was then also announced as distributor in that country on November 22, extending the company’s American market to Colorado, Missouri and Arizona. In November 2021, it had signed a five-year manufacturing and distribution deal with Philadelphia glass company, Graboyes, allowing its products to be manufactured and distributed in Pennsylvania.
The 66c share price high came on November 30 after ClearVue announced yet another distribution deal, this time in South-East Asia. The five-year deal with Singapore glass processing specialist H T Glass requires the company to manufacture and sell at least 300sq m of IGUs in the first year and at least 1000sq m in the second year, with the number each following year increasing up to 10,000sq m in the fifth year of the deal.
Last year was an interesting and profitable ride for ClearVue shareholders, especially if they were buyers before May and had exposure to the sky-rocketing price hike.
Meeting the global demands of a green-conscious building sector seems to be working out for Clearview and its “magic dust” propriety particle formulation and it will be an intriguing watch in 2024.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
