It’s another cracking day for the ClearVue Technologies Ltd (ASX: CPV) share price. This comes as it rallies a further 17% higher to 69 cents a share.
In isolation, today’s performance alone is impressive, but the real eyebrow-raising occurs over a longer timeline. Taking a look at the bigger picture, the ClearVue share price is 65% higher now than it was a month ago. Right now you may be asking “what’s the fuel setting the photovoltaic company’s shares on fire? Let’s take a look.
Renewables are gaining interest
ClearVue’s share price has likely been the beneficiary in what seems to be an insatiable demand for renewable investments this year. To clarify, the company has developed glass that can harness solar energy, effectively turning windows into photovoltaic solar panels.
This means ClearVue could be accounted for in the same group as other recent renewable highflyers. These companies include:
- Solar and wind farm operator, Tilt Renewables Ltd (ASX: TLT) up 92% in the last 6 months;
- Solar farm operator Genex Power Ltd (ASX: GNX) up 24% in the last 6 months; and
- Freshly listed bioenergy producer, Delorean Corporation Ltd (ASX: DEL) up 95% since its ASX debut yesterday.
Much of the excitement stems from the US government’s $2 trillion (with a T) infrastructure and green energy plan. This is aimed at addressing climate change. Investors are clamming to get ahead of the curve, as governments begin to pour big money into renewables.
With a product that could see buildings making better use of all that vertical exposure, ClearVue is seeking to capture the spending needed to make a greener way of living.
Other news sending the ClearVue share price skyward
It’s more than a prototype — that’s what ClearVue has been pushing heavily with recent marketing efforts. The company emphasised this towards the end of March with its listing on the OTCQB, an over-the-counter market for early-stage companies in the US. Around the same time, ClearVue launched a marketing campaign targeting architects, façade engineers, and sustainability engineers.
In addition, ClearVue’s latest share price jump comes after the appointment of Japanese greenhouse leader, Tomita Technologies, as a distributor. The agreement will see Tomita as the exclusive distributor in Japan for the next 5 years, with the option to extend. The deal shows promising signs for ClearVue to move ahead with commercialising its technology.
Having already gained 495% in the last year, the ClearVue share price is certainly outperforming the S&P/ASX 200 Index (ASX: XJO). For comparison, the benchmark index has delivered 29.4% over the last 12 months.