Smart building materials company ClearVue Technologies is set to receive a $2 million grant through Western Australia’s Investment Attraction Fund to advance its manufacturing operations.
The grant will help ClearVue build a new plant in Perth to produce the core components used in the company’s solar-integrated glazing units and windows, the government said in a media statement.
The ASX-listed company also intends to build an assembly line to manufacture the solar photovoltaic strips used in ClearVue’s solar windows and facades for solar collection.
State Development, Jobs and Trade Minister Roger Cook said the goal of the Investment Attraction Fund is to promote new investments, aid in the growth and development of new and emerging businesses in order to diversify the economy of our State and produce new job possibilities.
“The fund seeks to capitalise on WA’s comparative advantages, including our now thriving innovation ecosystem. A key to supporting innovative companies, like ClearVue, to evolve into thriving businesses within our State is to develop and retain highly-skilled technical expertise here in WA,” Minister Cook noted.
Moreover, Cook said the $2 million grant will allow ClearVue to manufacture its key components onshore for the foreseeable future, opening up new employment opportunities in the sector.
ClearVue’s primary intellectual property components will be transported throughout the country and globally to the company’s licenced manufacturers for use in end-product solar façades and windows.
The government reiterated that the Investment Attraction Fund seeks to stimulate new investments that will provide local job opportunities, enhance demand for local goods and services, and secure trade in new industries and with new markets.
For more information on the Investment Attraction Fund and the selection process, you may visit this link.
