ClearVue Technologies (ASX: CPV) has moved to stamp a stronger footprint in the United States after being granted permission to trade on the OTCQX Market Group’s “Best Market”.
The strategic move designed to establish a better connection with US investors is another building block for the West Perth-based smart glass company’s mission to become a “long-term player” in the lucrative US market. ClearVue was previously trading on the OTCQB’s “Venture Market” that caters for earlier-stage and developing US and international companies.
The OTC (Over The Counter) market is where securities trade via a broker-dealer network instead of on centralised exchanges such as the New York Stock Exchange and the ASX.
ClearVue says its OTCQX upgrade has come in response to the increasing level of investment interest arising from its marketing and awareness efforts in the US. Late last month, it appointed Charles (Chuck) Mowrey as its new North American boss to focus on boosting its smart glass manufacturing capabilities in the US and to try and bridge that country’s supply deficit.
The North American market is crucial to our growth strategy.
ClearVue Technologies global chief executive officer Martin Deil
The company is potentially looking at a global market involving billions of square metres of window glazing being installed in new constructions, while the retrofit market is also likely to be vast. It could also amplify its reach through the construction of photovoltaic (PV) spandrels and building facades.
The North American market is crucial to our growth strategy. A key element is engaging the US investment community, particularly in light of recent US policy initiatives that provide incentives for the construction sector to decarbonize and promotes the broader goal of achieving net-zero emissions.
ClearVue Technologies global chief executive officer Martin Deil
Deil said the company would introduce its full product suite to the US construction market at the American Institute of Architect’s AIA24 Conference on Design and Architecture in Washington early next month.
The OTC Markets Group caters for a broad range of about 12,000 US and global securities. It allows US-based investors to trade and settle in US dollars during that country’s normal trading hours.
In contrast to ClearVue’s former middle-tier Venture Market “home”, the OTCQX Best Market is designed for established, investor-focused US and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
While ClearVue plans to retain its primary listing on the ASX in Australia, the marketing of its power-generating solar PV insulated windows and other innovative construction elements, such as solar PV spandrels in Europe and the US, have led to secondary listings on the Frankfurt exchange in Germany and now its new premium position on the OTC.
It may mean the new world of green transition could soon seriously become its oyster.
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