Yes there is an Australian Window Association and ClearVue just joined
There is such a thing as the ‘Australian Window Association’ and in the interests of transparency, Clearvue wants you to know that it’s joined that club.
The Association boasts “over 600 window manufacturers and industry suppliers” and says its mission is to help Australians see right through dodgy window salesmen.
Members, the organisation says, have to prove their windows live up to its standards: they mustn’t leak and they can’t break in the wind.
More significantly, the solar-powered window maker said today it had won accreditation from Standards Australia to sell its products locally.
That sent the shares (ASX:CPV) up 15 per cent to an intraday high of 46c in early Wednesday trade.
After a $5 million IPO and a wobbly start to public life on the ASX in May, the shares are now more than double their 20c issue price.
ClearVue is chasing a window of opportunity to sell high-tech glass panes that can generate solar energy.
The pane-point for prospective investors however is that company has no revenue so far and has not yet started selling its solar windows.
The company says it expects to have products ready by the end of this year and sales starting by June 2019.
It had about $600,000 in the bank before the offer and accrued losses of about $2 million over the past three years.