Here's why the ClearVue Technologies (ASX:CPV) share price is surging 66% this week

What's got ClearVue shares on the move this week?

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Key Points

  • The ClearVue share price is up 27% today, and 66% this week
  • Completed archetype model building scored impressive results on the energy star rating system
  • Work is currently underway to further progress ClearVue products

The ClearVue Technologies Ltd (ASX: CPV) share price has accelerated this week, registering impressive gains of 66% for investors.

This follows the company's announcement on Wednesday regarding recent modelling work undertaken to achieve energy neutral buildings.

At the time of writing, the smart building materials company's shares are up 27.78% to a 6-month high of 46 cents.

What's driving ClearVue shares higher?

In its release, ClearVue released the findings of a completed archetype model building demonstrating highly energy efficient improvements.

The company highlighted how its product can achieve a net-zero or near-zero energy-use building.

The modelling was completed on a design in Toronto, Canada, and benchmarked against the Toronto Green Standard (TGS) from 2030. This code is recognised as one of the world's highest standards of building performance.

The modelled building scored 99 out of 100 points in the energy star rating system and was in the top 1% of Canadian office buildings for energy performance.

ClearVue's patented solar glazing technology cuts heating and cooling costs, by diverting unwanted solar radiation to photovoltaic cells which convert to electricity.

The archetype model is a six storey office building on a 15,000 square metre footprint in Toronto, Canada. The building notably used higher glazing to wall ratios on the facades for higher solar exposure.

ClearVue stated that the current archetype modelling is restricted to the 'in-use' phase of the building. Work on the life cycle assessment is currently underway to produce an environmental product declaration for the ClearVue products.

ClearVue executive chair, Victor Rosenberg commented:

The developed Archetype model clearly shows how the ClearVue PV product can play a significant role in the design of Net Zero and Near Zero Energy Buildings of the very near future.

The ClearVue PV glazing through its energy efficiency and energy generation offers a solution for these architects, engineers and developers struggling with how to design buildings to meet these new codes while maintaining expansive views and maximising building daylighting.

About the ClearVue share price

Over the past 12 months, the ClearVue share price has surged more than 50%, reflecting positive investor sentiment.

Based on today's price, ClearVue commands a market capitalisation of roughly $97.36 million, with approximately 211.66 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.

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