Why the ClearVue (ASX:CPV) share price is soaring 25% this week

The company's shares are set to finish the week off strongly…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The ClearVue Technologies Ltd (ASX: CPV) share price has shot up this week, posting gains of almost 25% for investors.

This follows the smart building materials company's announcement on Wednesday that it had received a first order from a Japanese distributor.

At the time of writing, ClearVue shares are up 5.7%, trading at 37 cents.

Young boy of African American heritage standing in a field with a green mask and cape shouting through a cardboard megaphone.

Image source: Getty Images

What's driving ClearVue shares higher?

In its release, ClearVue advised that Japanese greenhouse leader Tomita had placed an order for its solar photovoltaic (PV) glazing solution.

ClearVue signed an exclusive distribution agreement with Tomita in April for the sale and marketing of its product.

The company said the patented solution would be used in a greenhouse at a tourism eco-project in Japan.

In total, 187 ClearVue glazing panels will be installed, covering an area of around 333sq m. This will be deployed into a roof of a strawberry greenhouse which forms part of the Aqua Ignis Hot Springs project.

The advanced glass technology incorporates a clear lamination layer between glass panels that drives unwanted wavelengths of UV and IR light to solar PV cells. Located around the edge of an integrated glazing window unit, the solar PV cells are used to generate electricity.

The company expects that the PV glazing panels on the greenhouse will generate approximately 8,573kWh of renewable energy per year.

No doubt, investors are excited about the company's latest developments, sending the ClearVue share price higher.

Management commentary

ClearVue executive chair Victor Rosenberg commented:

The Aqua Ignis project in Sendai is a great starting project for ClearVue distributor Tomita and it will provide invaluable insights into the installation and technical nuances of the ClearVue product before Tomita takes on larger scale greenhouse projects throughout Japan.

Additionally, the high-profile nature of the project will provide invaluable marketing and promotion for both Tomita and ClearVue, demonstrating not only the benefits of the ClearVue product but also its versatility in different application settings.

About the ClearVue share price

The ClearVue share price has surged more than 160% over the past 12 months.

Based on today's price, ClearVue commands a market capitalisation of roughly $77.7 million, with about 210 million shares on issue.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Opinions

Why buying ASX shares in March could supercharge your wealth

I think there are opportunities galore right now.

Read more »

A woman gives two fist pumps with a big smile as she learns of her windfall, sitting at her desk.
Share Market News

Why these Vanguard ETFs could be best buys in 2026

From global markets to emerging Asia, these Vanguard ETFs provide diversified exposure for investors in 2026.

Read more »

A little boy in flying goggles and wings rides high on his mum's back with blue skies above.
Opinions

Why I think now is a great time to buy Qantas shares for long-term passive income

Qantas shares are now trading on a fully franked dividend yield of 5.5%.

Read more »

Red line going down on an ASX market chart, symbolising a falling share price.
Opinions

Worried about an ASX share market correction? I'm following Warren Buffett's advice

The market is going through a volatility bump.

Read more »

Winning woman smiles and holds big cup while losing woman looks unhappy with small cup.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough end to a tough week.

Read more »

Graphic showing yellow arrow above vertical columns indicating a rising share price
Share Market News

$10,000 invested in this ASX ETF a month ago is now worth $14,500

Investors in this ASX ETF are sitting on very appealing short-term gains.

Read more »

Businessman looks with one eye through magnifying glass.
Share Market News

Pulse check: How are the top 10 ASX 200 shares performing amid a new war?

What's happening with CBA, BHP, Wesfarmers, Woodside, Telstra, and other large-cap shares?

Read more »

Happy man working on his laptop.
Broker Notes

Brokers name 3 ASX shares to buy right now

Here's why brokers are feeling bullish about these three shares this week.

Read more »