ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) is set to deploy its patented solar energy windows in a luxury residential project in the Australian Capital Territory (ACT) suburb of Griffith.
The smart building materials manufacturer has secured a deposit for eight of its photovoltaic skylights, as well as other non-solar windows and doors, to supply natural light and solar power to the luxury home.
The skylight market is expected to grow to around US$5.5 billion by 2030, with a compound annualised growth rate of 15.3% from 2021 to 2030.
This installation marks ClearVue’s first foray into the residential housing market, meaning it will serve as a pivotal reference site for future residential and skylight projects, as well as applications both locally and globally.
The residential glazing project is valued at $160,000, providing a boost to CPV’s bottom line as it takes its first steps to make a name for itself in the residential sector.
Construction on the project is already underway and scheduled to wrap up before autumn 2023.
Demonstrating market applicability
ClearVue’s head of investor relations Earle Harper said: “This sale represents the first use of the ClearVue product in a luxury residential project where the ClearVue product is being used in a skylighting application.
“Importantly, it’s a simpler sale for the company to support its commercialisation journey to sales of commercial building façade sales.
“The sale, while a sizeable order for a single residence project, more importantly, demonstrates the flexibility of the ClearVue PV glazing product across market categories and segments.
“It will provide yet another reference site for the company to demonstrate the skylight and residential market applicability for the product.”
ClearVue has previously deployed its solar glass products in various projects across the Asia-Pacific region including a park in Sydney, a shopping centre in Perth and greenhouses in Japan and Perth.
The company has also held trials in multiple geographies to explore its product's energy efficiency and power performance.
Energy efficiency appeal
The luxury Griffith home is being built by leading apartment developer Custom Apartments.
Specialist builders Elm Building Group and award-winning firm Hugh Gordon Architect are also part of the journey.
Commenting on the ClearVue order, the Custom Apartments management team said: “We strive to deliver the best customer experience in terms of liveability, leading technology and sustainability in all of our projects.
“We are delighted to be using ClearVue’s remarkable window technology in this residential project and are looking forward to specifying the product into upcoming residential apartment projects that will benefit from the ClearVue products’ energy efficiency and energy generation aspects.”