If everyone's settled, welcome. I want to start first by saying we need to start on time. I don't know whether it's quite five yet. Before everyone joins online, just a little bit of housekeeping. If we're unfortunate enough that we have some form of conflagration or fire, the easiest exit is going to be out of the rear roller door or, of course, up the stairs the way you came in. Toilets and facilities are up the stairs. There's an open door you can walk through the empty office there, and the toilets are up far away. I guess we need to wait till 5:00 o'clock. You guys sat down really quick. It's only a minute, you guys. Plus, you'll probably be more bored afterwards. First, I need to welcome everybody. Thanks for taking the time to come.
For those of you joining online, I really appreciate the fact that you're taking time to have a look and learn about ClearVue and where we are and what's changed and what hasn't. I guess, firstly, probably some introductions. We've got a couple of our really valued industry partners here. Linc Merlo from erbas, who, if you've been following us on the ASX, is the Executive Director of erbas and has been a wonderful supporter of ours. Thanks, Linc, for coming. James McLennan, who is the Managing Director of a company called OB Energy, is about to be our first preferred installer, right, James? James has been pivotal for us in the 100 St. George project and is going to install the Tattersalls project for us as well. He has a big national business doing commercial-grade solar installs.
It's a pleasure to have his input and for us to learn. Also, of course, got to welcome our board, who I think everybody's here. I have to look at the paper to remember their names. Our new Chairman, Theresa Smits, our new Director, Michael Pixley, and, of course, Vic. I know that I got a piece here that says about Victor. I know there's been a lot of heat in the last few weeks. What everyone needs to understand, I think, and sure, things haven't been perfect. There's no question. What has been perfect is the support that he gave myself and our team to develop the stuff that you guys are going to see tonight. Without him, that probably would not have happened. I'd be a lot more relaxed. Vic, it's a pleasure for me to count you as a friend.
I'm sure we're going to still do Saturday morning breakfasts, right? Yeah. There you go. I don't mind paying. Why are we here? I guess what we're here to do is to talk about a difference in approach. My approach, I guess, because I've done a couple of startup things before and grown them into reasonable sized businesses. I think our difference in approach is focus, focusing the resources of the company to deliver shareholder value. That is what we're all here to do. I'm very proud of the people who are going to present and my wider team, who are all standing on the back wall there trying to disappear. I'm so proud of what they've done in the last couple of years. You guys will get a taste of that tonight. The innovation and the work has been fabulous. I'm so proud of them.
I also want to thank a lot of people who aren't here. When we started this journey, Tao, myself, and Chris in particular, the only thing we knew about glass was that you could look through it, certainly in my case. Now I think we have been on this journey to understand how we integrate BIPV into the built environment. Many people think that, you know, you say BIPV, you're right, you get a rooftop panel and stick it on the side of a building. Nothing could be further than the truth. What we're going to show you tonight is the innovation that we've been able to do that enables us to deploy the product in a way that makes sense, in a way that the construction industry is used to, and in the way that it's deployable in the real world.
This is the real value that we've created at ClearVue , I think. The other people I was going to thank, I didn't get to that, did I? The other people I was going to thank are all the engineers and all the factories that we've visited over the last two years that have taught us so much about glass, how we manufacture it, how we seal it, how we coat it, how we process it. All of these things we have had to learn from scratch. It has been a massive learning curve. I get a bit emotional about it because I know how much work it was. Anyway, all these people have given us some input. Without that input, we wouldn't be where we are today technically. I think we have the best products in the world in this space.
That is down to the work of all the team that are going to present to you tonight. Everybody has been on that journey. I should have put some better lights here, I think. What are our business processes? There were a lot of questions online about what's our process and what have we done. I think commercially, there's sort of like an enormous thing that you have to be able to do to produce a unique product at scale, at the right price, and the right quality. One of the things we've been able to do is develop a network of OEM manufacturers. If you guys have seen me do an interview before, you will probably have seen, I always say, we're like Apple. We design the iPhone and someone makes it for us with a factory that's already at scale, which means it's less capital intensive.
It means that we can produce volume, and it means that we can produce at a very, very high quality and offer the best warranties in the industry. This obviously took a lot of negotiation. We have five separate OEM suppliers in China, and we have a lot of partners all over the world, in fact, where we can go to and they will help us in our design and research and development. This means we can produce at scale. Our current scalability, if you like, we could produce 30,000 sq m of spandrel glass or balustrade glass a month. We can produce 30,000 sq m of the cladding product a month, and we could produce well over 30,000 sq m of the vision glass. We've done this with limited investment. We've done this by making partnerships.
I'm not going to tell you who our OEM guys are because I feel like that's some of our most valuable IP. What I can tell you is that these guys are some of the biggest solar manufacturers in the world and some of the largest glass manufacturers in the world. They've done that because of the knowledge that we gained and how to integrate our processes into their systems. Our process basically is, if we take the World Bank project in Nigeria, where the panels are on the water at the moment, those panels we produced in a solar factory, because a solar factory is different to a glass factory. A solar factory needs to have a clean room. It needs to be dust-free. It needs to make sure that there's not high sulfur contents in the air.
It is a very hard thing to make a solar panel or a product of any sort, I guess, that's going to last for 30 years. We have that supply base. Then we shipped it to our glass OEM. The glass guys, the glass processors, are wonderful at being able to make IGU seals. Now, I can talk about glass for a long time. I can tell you many of these people in this room will attest that I can talk to it for a long time. Basically, the most critical factor in insulating glass is the seal. The seal, when you look at this, you look at that silicon there, and you think, that's the seal, right? Actually, it isn't. What really is doing the job is that little black line.
That little black line, to be able to make an airtight piece, or in fact, in our case, we have to make argon tight. Argon tight is worse than air because the molecules are smaller. This is a very, it takes a lot of work to do it reliably and with quality. We send the solar panel that's been made with guys who know about solar to a factory where they know about how to make that seal. The part of the components that we've developed and some of the most valuable IP I think we own is how to run a wire through that seal without compromising it. After we've done that, often the client will want a framing system. We have another OEM supplier in China where we manufacture the frames and fit the frames. We design our own framing systems.
We have ones that are easy to remove the panel on and off for maintenance purposes. Tao and the guys will speak to that more. There's another step in the train. They do the structural silicon, which is a very technical job in itself because we can't clearly have windows falling off buildings. They do the curing and the Q&A on the silicon system, and then we ship to the end user. That whole chain has been developed by us over the last two years. The other thing that I think is vitally important is people think when we're a company in our position that we get a $200 million job, for example, how are we going to fund that? It's always, you know, things are about the money. These OEM agreements parallel our payment terms to our customers.
If I did a $200 million deal tomorrow, which, you know, hopefully, if I did a $200 million deal tomorrow, cash flow-wise, it doesn't affect us. We can grow without any additional capital. We negotiated that into those OEM agreements. I just wanted to, to you guys, to sort of first time we've really communicated how much work has been done in this space. There's no doubt that we've had some challenges, and we've still got some to come, I suppose, but the level of work that's been done by the team has positioned the company now to begin the commercialization process. I think I'm going to hand over now to the team to start to do their presentations. First is Tao. I think I'm going to bore everybody and give everyone a little exposé on each of these guys because they deserve it. Tao has been, sorry.
Four and a half years, I think. Yeah.
[Ten years.]
[Ten years, yeah.]
[It's going to be a few seconds. We'll pass it.]
Hello, everyone. Good evening. My name is Tao. I am the new Chief Operations Officer in ClearVue . Today, what I'm doing is that I will take you through a short journey to understand what we have achieved and where we're up to. At first, I have to say, you know, our business or our time here has to achieve a pivotal point in the business growth. Our technology has been proven by the global testing bodies and some users. Also, our marketing opportunity is growing and booming globally. This is all time about the commercialization and scalability. The key to accelerating the commercialization is about how to connect two worlds who have rarely spoken the same language. The two worlds I mean is one is for the construction industry, and the other one is the solar industry.
BIPV application is not simple like that to just put a traditional PV panel on the facade. The product itself has to be a real building material. The BIPV application has to be a systematic solution with lots of engineering considerations, including the safety, reliability, sustainability, installation methodologies, and of course, for the customer, it's about payback. That is why in ClearVue , my team's mission is to integrate the BIPV into a real building environment. We have transformed our products, you know, seamlessly into the building facade. When the customer or developer or architect, when they use it, they just look at nature and it looks like it disappears in the whole facade. Also, by prioritizing the industry requirements and the thermal performance, we also consider the sustainability requirements.
We design all the products with engineering and the financial consideration into the [DNA] from the day one into our final product. Of course, most cases, the product we supply to the client is five years or less the payback period, and it's even before the government subsidies. Our target is to make sure in the future every surface of the building can be BIPV products. We actually redefine the products that make sure that the building can be designed, constructed, and renovated in a real engineering methodology. We can offer different products, so both including our solar vision glass, solar spandrel, solar cladding, and then you can also use it on the balustrades and the skylight for residential commercials. Even in this morning, we just launched a new product. It's a triple roof panel.
It can directly add to the existing roof and provide the customers much more reliability and lifespan. Of course, we are not the only guys in the market who supply the BIPV panels. How can we stand out among the global competitors? I'm an engineer, so I made a table. It basically covers all the engineering specs. Today, I would like to give you the concept overview. If you have any questions, you want to know anything, you can come to me after the presentation. The first thing is about the architecture. I think most of you probably know that in the commercial projects, the architect is the team leader. You have to design something to fit their needs. That means that we think about our product has to be flexible and can be customized.
We can supply very large glass up to 2.35 m- 4.5 m. We can make very thick glass from 25+ 25 mm laminated. We can supply the different color, pattern, different shapes, including the triangle, diamond. We can also make the curved glass panels as long as the radius is over 1.8 m. We can also make our product can be designed for the unlimited spatial and also the super spatial for the aesthetics requirement for insulated glazing unit. I call it normally called the IGU. Electrical safety, we only use top quality cells. It will be given a much, much steady product, very, very high standard product. You can see for the tolerance, we only supply the tolerance only +/- 5%. Our competitors are normally like 10%.
The reason the difference is, for example, if we supply 300 W panels, there will be like a range for tolerance. Our minimum will be like 285 W, but they only service 270 W. One panel is 15 W, but many panels are being blocked for the system size. Our product can be designed to 210 W/ sq m, depending on the cell density and the shape and the size. Structurally, we have the triple and very good products. Our product also passed spandrel and can also pass the AS4 to A4 for site testing by simulating a 40-story commercial building in Melbourne. Doug will talk about the thermal performance. Normally, what we can do is that for the BIPV, we can do much more cool things, just other than supply product, only produce the energy. We can make all our product range to be integrated into an IGU. Right?
That means you can just significantly improve the thermal performance for the building and the power demands. Our U-value is quite low, 0.4 to 1.7, because our product is designed eligible with different coating, online coating, soft coating, and also with the LandVac vacuum glass technologies. It is very flexible. About the reliability, Doug also mentioned how important it is for the seal. We already test our product to the U.S. standards, European codes, and Australian standards. The testing is like you have to make samples and the auditor from these testing bodies sends it to a chamber for doing u p to six months testing. They do the thermal cycle testing from - 40 to 85. The reason we have to test our IGU is because just think about the normal IGU, normal double glazing unit.
When you install it on a 40-story building, the least thing you want to see is that it becomes condensated. Replacing the IGU will be much, much more expensive than the value of this panel itself. That's why we have to make our product much, much more reliable to give the customers enough confidence. We also use the best junction box IP68. The other competitors only use IP67. The definition is that IP68, you can put it under the water at 1.5 m deep and for two hours completely. Fire testing is very critical. Why we think that's important is because if you buy a BIPV panel, some competitors say, "I have Class A panel." What it means is for the IEC 61730 is like electric testing. Basically, it's only for the roof application.
Once it turns to the facade, the panel will be vertical and the fire mechanism will be getting different. You have to use the building materials to test it. We have the best fire classification in the market, which is A2 S1 D0. A2 means limited combustible. S1 means the minimum to no smoke once burned. D0 means that there is no flaming droplet at all during the whole testing process. The other guys, the competitors, they only have the B. B is combustible. With the A2-s1,d0 classification, that means we can actually replace all the combustible panels on the facade. This is very important. We also have done the AS 1530.3 testing for the Australian and the New Zealand market. Product warranty, we have the best industrial warranty. We supply the customer up to two years product warranty by regions.
Because we use the best silicon cells, we offer the 30 years, 80% output warranty across the lifespan. For installation, it's a very common question from the engineer and architects because the BIPV industry is still quite new. When you just do the pitch to engineers and architects, they will ask the same question, "How would I install it? How could I do the maintenance?" We have to make sure our product fits all the existing framing system. There's no modification on the framing system. Otherwise, the cost will be very high, and also not very reliable. The maintenance, we can use it because it's like a glazing. We just treat it as like a standard glazing system. For the technical support, we have the global office. We have the U.K. and the U.S. and the Australia support.
Material matching is also very important because if we can make our product matching the existing materials designed by the architects, we can go into supply without losing the aesthetics of the creative ideas. As a new COO, my operational priority is very clear for the next six to nine months. First thing is about the production optimization. As I said, we have to make sure our product design can fit the existing production lines. I'm going to work very closely with our R&D team trying to improve our products and to reduce the cycle time, minimize the material waste, and also looking at the scalability. That will make the price much lower. OEM supply management, I'm going to strengthen my relationship with all the OEM manufacturers.
Basically, we are going to make sure they are aligned with our target, like the innovation, the prototyping, and also together their commitment to the sustainability and to deliver projects on timely. Compliance and certification, certification is very, very important. It's non-negotiable. We have to make sure our products adapt to the latest standards because this will give many customers the confidence, also give us credibility to make sure our products meet their requirements or exceed the normal standards. Cross-function collaboration, I'm going to build a better communication relationship with our team, the key functions, including the technical, commercial, marketing, and other executive teams. Make sure any development, technical development, or the new stuff can be clearly translated to their team and to make sure they can make the right commercial and marketing strategies. We'll be consistently managing the project delivery excellence.
Basically, we'll make sure all the products can be delivered on time, on the budget, and with high quality. The quality control and the assurance is very important. We'll make sure each component will be checked and labeled from the very beginning to the end. Thank you, everyone. Now I'm handing my speaker to our Head of R&D, Chris Cole.
Tao has been working with [Sami] about half the time last year.
Thank you, Tao, and thank you, Doug, for that. Yeah. So my name's Chris. I'm the Head of R&D at ClearVue . I'm here to give a bit of an overview of our product development strategy and our sort of ethos when it comes to product design. Our main sort of structure is that BIPV needs to be a building material first and a power generator second. It needs to function as a building material so that these engineers design it. That main thing that it needs to be able to do to be able to be sold to people. These engineers, these architects, and these designers need to be able to install this product as they would a normal construction material.
To be able to develop and to stay ahead in the market, we need to be able to reduce these barriers to install and make it as easy as possible to install these products on a building. We need to improve these payback periods to give a really strong financial incentive to these stakeholders. If we can demonstrate to these stakeholders that our products are no different to the materials that they're used to working with, then the adoption will accelerate. This means addressing the traditional industry pain points head-on with innovations that reduce the installation costs, that improve the fire performance of the products, that display the longevity of these products, and that maximize the thermal performance. Any reduction in the building's operating costs is money for the stakeholder, which is a huge selling benefit for us.
One example of how we're doing this is with our new junction box. A junction box sits on the back of every solar panel that we sell, and it regulates the shading performance of a panel. If these junction boxes fail in some way, it can lead to the panel failing and also lead to fires on the building, [which could be catastrophic]. All of our traditional solar panels use these junction boxes, but they're not designed at all for BIPV. They're designed to be sat in a solar farm where there's wind flow and airflow, and they don't need any temperature concern. When these panels are stuck on the side of a building in a hot facade cavity, these can overheat and lead to panel failure.
Our competitors, by installing these products as they normally would, it leads to massive design changes of the building to be able to accommodate these products. It leads to modification of the frames, which can be expensive. We are reducing all of these barriers to entry by designing these products so that the engineers can install these facade sections as they would a normal piece of glass without any of these additional barriers to entry. These products have improved fire performance over our competitors, which is a huge product differentiator, and it leads to really seamless integration of the product into the facade design process. That is really important, and it is something that we are applying to our entire product range. The second part of our approach is the improvement of payback periods. In doing that, we are taking a two-pronged approach.
We are reducing the manufacturing cost and complexity of our product range, and we are doing this by collaborating with all of our licensed partners and manufacturing partners. We are identifying all of the pain points in manufacturing these products, and we are improving the system design to address these pain points and lead to manufacturing at scale. We are also increasing the power generation of these products. We are innovating on the module design, on the efficiency, and this leads to money for the stakeholder because you are generating electricity and it leads to a higher uptake. One example of how we are doing this is our R&D roadmap for the Generation 2 vision glass. We are reducing the manufacturing cost, complexity, and difficulties in manufacturing, and that is leading to a lower price point.
At the same time, we are working on the efficiency and the power generation of the window, and we are really excited to show you that in the future. Now I am going to introduce Clifton , who will talk to you about business development. Thank you very much, and looking forward to meeting you all.
Good evening, everyone. Nice to see some familiar faces and some new faces. I'm going to talk about some stuff we've discussed in the past. I think it's good that we talk about it again, focus on some of the important points of educating everyone about BIPV. I'll take you through some slides, and then we can have a discussion afterwards as well, like Chris said. At ClearVue, we have a very simple go-to-market strategy. It's a low-cost go-to-market strategy that is repeatable. Basically, we use established IGU manufacturers to manufacture on their behalf. We take our solar products, we send them to these IGU manufacturers, and they assemble for us, make double-glazed units and triple-glazed units. These businesses are well-established businesses. They have excellent reputations, and they've got the manufacturing capabilities that we require to do our product. That has been our go-to-market strategy now for some time.
We've discovered over the last few years that the client wants more. They want an end-to-end solution for their product. We have introduced new partnerships. These are strategic partners. These are facade installation companies. These are solar installation companies, and these are electrical installation companies. These allow us to provide a full solution to the client. Not only can we manufacture the best product, we can deliver it and deploy it on the building. That is what the market is asking us to do, and that is why we have introduced these strategic partners. The current state of play in ClearVue is that we have 11 licensed partners scattered around the globe, giving us a global reach, and we've got four strategic partners currently backing them up.
The process for becoming a licensed partner or a strategic partner requires a full process of due diligence, and that due diligence takes time. We have numerous licensed partners and numerous strategic partners somewhere along that journey. In the next six to 12 months, the expectation is that we will sign up 45% more licensed partners around the world to deliver and manufacture our product. In order to support them, we expect to take up 60% more strategic partners around the world to help those guys deliver the projects. As I said, the due diligence process is quite long, and we've got numerous people on that. Our expectation in the next 12-2 4 months is to add to that again with another 33% licensed partners and 20% strategic partners. You can see now that the combination of both is kind of leveling out.
We have enough people to manufacture, and we have enough people to install. This allows us to sell more products to the market in the markets that are demanding it. Over the past, we've talked about projects, and I want to touch on that again today. In the past, projects have come to ClearVue mainly directly, but through our go-to-market strategy, they should come through our licensed partner. We're seeing more in that today. On that chart in front of you there, at least 30% of those projects have come through our licensed partners, which is a big uptake from the last time I spoke to you guys in April. You will see that we have projects in South America, although we didn't have on the strategic partners or licensed partners any people in South America.
We are being supported there by a few salespeople who are working for us, and we will continue to monitor that market as it grows. You will also see that we have North America on that market. As many of you will know, we went to North America recently, and we reduced our office position there. We reduced our overheads, but we are continuing to have a presence there. We have 11 projects that we are involved in over there, and we will monitor the North American business, and it will scale up or scale down in reflection to the market demand, the changes to regulations, and changes to the administration over the next three to four years. What do all these projects mean? Where are they? Not just geographically, but where are they in stages of turning to revenue?
On the other side of the slide, you can see that 15% of these projects are in a feasibility stage. What does that mean? It basically means we have had some engagement from a client or an architect, and they're keen on BIPV or going through an educational process about the products that ClearVue can offer. We hope that they will then become further, maybe turn into a tender or a specification of ClearVue products. 20% of the projects that we have on our books today were in pre-proposal engagement. That means that we have received some specific documentation, maybe a plan, maybe an elevation, maybe some images, maybe an energy survey. We are now fully engaged on that project with clients, trying to educate them on the use of BIPV on their projects and using ClearVue products.
When you get to that level of engagement, it always leads to a tender. 65% of the projects on that, we have submitted a proposed tender. That means we have produced, and I think a lot of you who were here in April would have seen this, a very, very detailed proposal. We produce a shading analysis. We produce an energy generation analysis. We give pricing. We give product advice. We give installation advice. Of those projects that you see up there, 65% of those projects are at that stage. What does that mean? We've received really good feedback from numerous projects in that 65%, and we hope that we will be able to convert some of them into sales in the future, which we will communicate with you when we do. I want to take a little time to discuss the gestation period of contracting.
I think I touched on this in April, but I think it's very, very important for you guys to understand this. What you see in front of you are four projects that we have successfully received orders for, and we are currently manufacturing or have deployed. I think it's important for you guys to understand this. You can see from Leicester Street in Melbourne, which is a project we delivered. It's got another name, which we're not allowed to use, but it's called Leicester Street. We first received that contract, the contract documentation in July 2023. We turned around the proposal in July 2023. Therefore, it's quite a small project, and we turned around our proposal.
Our proposal time, just for your information, depends on a number of factors: the size of the project, the amount of detail that the client requires, and sometimes they actually give us a return date that we have to work towards. In this case, it was get it back to us as quickly as you can. We did that, and we returned it in July 2023. You can see the jump here from July 2023 to receiving an order, accepting an order in January 2024. That's a serious amount of time. What happens during this time? A lot of things happen. We get a lot of questions we have to answer. We speak to fire engineers. We speak to energy engineers. We speak to architects. We supply samples. We make mockups. We sometimes have to engage with third parties for planning permission, things that are outside of our control.
That project could have not received planning permission. We stopped, and we wouldn't have. It could be years waiting for it to come back. We have some of that on the previous projects that we've shown. You can see here the length of time and the amount of work that goes into this. In that period of proposal plus engagement, we do a lot of work. Another project, 100 St. George, a different type of project, a different size. We received the information in January 2024. We turned it around again quite quickly. We returned it in February 2024. There's nine months between the proposal and when we actually receive an order. In that nine months, we did method statements. We made samples. We engaged with a third party for installation, who now are going to become one of our strategic things. We've demonstrated there that our solution works.
We need to give the client the solution, the full package. Tattersalls, very, very large projects for us. We received it in 2024. The size of the project meant it took us a bit longer to do the proposal. We returned the proposal back in March 2024. You can see it's well over a year before we get an order. What did we do during that time? So much work, method statements, samples, engagement with the architect, engagement with the engineer, checking calculations, proving calculations. A serious amount of work went into that period of time. The final one I'll talk about tonight is the World Bank. Again, quite a small project, but a good demonstration of our strategy of giving a total solution. Client came to us in July 2024. "I just need some panels", he said. We gave him an offer.
You can see we gave him the offer in July 2024. We didn't receive an order until 2025. We had to help him with everything. How does he get the water off? How can he replace it? How can he get up there to install it? We had to bring on board a strategic partner to give him the frame. Our solution is working. We're giving people the right solution. We're helping them out in order for them to build a proper building. I think it's really important that you guys understand that as investors, there's a lot of work involved in a presentation. You can see the growth here is quite large over the next few years.
I want to assure you that in the background, we are building to support teams in order to be able to deliver that work, not only to support our strategic partners and our licensed partners, but also support clients and architects and developers to be able to go through this process and make sure that they get the right product for their project. I'm going to introduce you to Lisa now, and she's going to talk to you about our marketing and branding and how we communicate that with you guys.
Good day. It's an absolute pleasure and honor to be here today with you. I am passionate about what ClearVue has to offer the world. I hope you will be too once you leave here tonight after hearing from our team. It has been an amazing journey. I am the new Director of Marketing for ClearVue. Today, I not only want to give you confidence in what we are going to be doing from a marketing, business development, and partner engagement perspective, but also, I really want you to walk away excited about the future for what ClearVue has to offer and what we make possible. We are, from a marketing, branding, and business development perspective, very focused on three main things, and that is supporting profitability, increasing revenue, and driving market share growth. We are going to do this by focusing on three key areas.
First, we are going to clearly communicate what makes ClearVue superior. You've heard from my teammates here all of the amazing engineering, proprietary development of innovations, and so much more. We haven't done a good enough job of communicating what truly makes ClearVue different and special in the market, not only from other BIPV products, but also from traditional building products. We are going to focus on that. Secondly, we are going to boost our partnership growth. We need to have more selling activity happening in order to support our profitability, increase that revenue, and grow our market share. We are going to really focus on building a best-in-class partner program. I've had the good fortune to work on many partner channel marketing programs over the years. In fact, one of the programs we were focused on over 40 countries around the globe.
I've also been a provider of insight and feedback for both IBM and Cisco's partner marketing programs. In addition, we are going to have a major focus on demand generation. We are going to support building the business by providing demand generation activities to support all of the work that Clifton will be doing from a business development perspective. We are going to do this by focusing on targeted audiences. We have three main audiences and then two foundational audiences. The first audience that we are going to focus on are our partners. Like I said, we're really looking at building a best-in-class channel program that will support our partners, give them the tools that they need to be successful, and go out and successfully grow their business with ClearVue.
In addition, we are going to focus on influencers, the people that are going to actually help people make the decision to implement ClearVue solutions: architects, the facade consultants, glazing and solar contractors, and distributors. Finally, we are going to focus on the corporate users, the people that are ultimately going to make the decision to purchase ClearVue solutions and implement them in their projects. That's the real estate developers, the real estate owners, government, corporate innovation leaders, and sustainability executives. From a foundational perspective, we have you, our shareholders. We see you as one of our greatest supporters, and we want to make sure that we are communicating very clearly and transparently what is happening within ClearVue. We also have the media and analysts.
We want to make sure that we are targeting media and analysts that cover each of these audiences and give them the information that they need about ClearVue. In terms of priorities, we have three phases that we are focused on, although the phases are going to overlap and happen simultaneously. The first phase on short-term priorities from a marketing perspective is really to look at an evaluation and review of everything that we have been doing and focus on the things that have been successful, eliminate the things that are not generating the demand that we want to create. We're also going to look at our prospect database and get that really cleaned up and make sure that we can segment that database and get the right messages to the right audiences.
The next phase is going to be focused on really laying that foundation that we need to have a successful marketing and branding program. We're going to make sure that we're looking at our extended marketing team, both the internal resources as well as our extended vendors that we work with from a marketing perspective. We're also going to look at right-sizing our CRM and marketing performance management platform so that we can track and we know what is happening with all of our leads and opportunities. We also are going to refresh our website. We are going to blend the U.S. and corporate websites back together in a single website, and we are going to make sure that we are taking the best features of those sites and blending it into a new, better site. Next, it's going to be all about execution.
Making sure that we are instituting those differentiation programs that I talked about, the demand gen programs. We are going to develop and execute on that best-in-class partner engagement program, and we are going to make sure that we have consistent and very transparent investor communications. We will see very soon that we will have our annual general meeting in November, as well as our 2025 annual report coming up. Those will be key communications coming up from an investor perspective. With that, I am very excited to introduce my colleague, Georgina Cook, and she's going to come up and speak with you about our sustainability strategy.
Hello everyone. I'm Georgina. I'm the Sustainability Lead here at ClearVue , and I'm going to talk to you about how we drive revenue profitability and commercialization via sustainability. As is obvious, sustainability is at the core of what we do here at ClearVue . Our existence is predicated on the sustainability targets of others and the net zero ambitions of the world. We have a clear mission to reduce the carbon emissions of the built environment by designing products that build a bridge between the construction and the solar industries and facilitate the necessary uptake of revolutionary technologies by offering a commercially comprehensive and competitive solution to reach our globally recognized and unfortunately pressing goals. However, sustainability is much more than carbon. It is the encompassment of what it means to design a world that can continually and reliably sustain life in multiple forms.
This is evidenced by the holistic nature of ESG strategies. Today, I've chosen to represent how we will drive revenue and commercialization by highlighting a few ways that we open the door for our clients to reach their ESG targets. From net zero to climate resilience, biodiversity, circularity, all the way through to ESG disclosures. I'll start with net zero. ClearVue supports the net zero ambitions of our clients by providing clean energy on-site, using previously inactive surfaces to support green infrastructure. This facilitates financially sustainable net zero strategies, where financial risk is mitigated through a reduced reliance on potentially turbulent energy and carbon credit markets. Zero carbon-ready buildings are required to be electrified, efficient, smart, and flexible. They incorporate grid interactive strategies into the building design, operation, and management.
Our inbuilt reporting infrastructure can support buildings in understanding the consumption and other metrics on a facade panel-by-panel basis. Most significantly, our products don't just produce energy but reduce the overall energy consumption of the building by integrating with the best-in-class thermal technologies, evidenced by our partnership with LandVac. We do this because we recognize that BIPV's value sits in the overall improved energy performance of the building. Next, climate resilience and adaptation is a key issue for the built environment as we try to ensure that our buildings can withstand the increasing severity and frequency of extreme weather events. We ensure that all of our products are designed to be compatible with the highest quality climate-resilient solutions. For example, we've undertaken extensive testing to meet Hong Kong's typhoon ratings. This is all without even mentioning the climate-resilient opportunities that BIPV can provide through energy autonomy.
Beyond this, our products can support our clients to minimize their biodiversity and nature-based risk by relocating several products from open field on-site, which uses previously inactive surfaces for solar and returns greenfield sites to agriculture, nature, and other uses. Further, on-site production of energy can reduce the reliance on transitioning grid infrastructure, thus reducing the overall resource intensity and embedded carbon of a transition to renewables, as well as reducing system losses and decreasing the risk of flow-on consequences to ecosystems. Finally, circularity is of growing significance to everyone's ESG strategies. We support this by assembling our products as close to site as possible, using our licensee structure that Clifton mentioned, to reduce transport emissions and support local economies. We follow the living building design principles with the creation of a modular framing system for design for disassembly and ease of maintenance.
We offer one of the longest product life expectancies in the industry. Due to the quality of our products, there are plenty of end-of-life options for downcycling, payback schemes, and stewardship programs that we are looking to explore. With all this done, on a new level of transparency, we will support our clients in their ESG disclosures and financial reporting. BIPV will play a crucial role in helping the building sector achieve its previously unattainable ESG targets. ClearVue are well-positioned to support this through our strong partnerships, R&D strategy, and understanding of our clients' financial and sustainability drivers. I'm going to pass the microphone back to Doug for whatever he's going to say.
Someone took the other one off me. I guess they were concerned I was going to play with the switch. Look, I guess I get a little bit emotional when I think about my people. It's because they have worked so hard, and there is a result. That is the most important thing, I think. This tonight, we're talking about drawing a line, I guess. We are drawing a line between what was before and what is now and what will be the future. The focus of this company is going to be to be on the cutting edge of what we need to do to deliver what we need to our clients. This cutting edge means more R&D. It means more certification. It means more improvement to the products. It means that continuing improvement will lead us to better commercialization results.
I can tell you, since these changes have started, our proposal input and the number of requests we get to look at buildings and stuff is really, really important. Part of that is part of our partner network. We've developed, you know, two people here tonight, James and Linc, but also we've developed strong relationships with Colliers in Hong Kong, CBRE, ISPT, many of these guys. We're going to undertake, we got our first three buildings from Colliers in Hong Kong yesterday. We're going to undertake an assessment program with these clients to look at what we can do to deploy our products in their property portfolios. I'm not telling you we're all of a sudden going to re-facade their whole portfolio. That's probably not going to happen. What it will do is give us opportunities to show what we can and can't do from a deployment perspective.
It will generate revenue. Sometimes, I expect we get a lot of jobs from $100,000 - $500,000. These jobs will generate revenue for us while we're waiting for the towers. We've got some nice big projects in the wings there, but we need a strategy to do, as Clifton says, they take a long time. Unfortunately, I know previously there's been some expectations thrown out there to you guys in terms of how fast projects are going to happen. Sometimes I find that a bit quizzical because, you know, there was a lot of construction industry experience in the room. I can tell you that to make a product, to make a project work, as Clifton was saying, that's a lot of work and a lot of time.
I think what has been, particularly for me anyway, as not being a construction guy previously, what I've found to be quite good is the engagement that we've had from these partners and the acceptance of our presentations. When we do presentations, they're not a five-minute thing. Most of our presentations take two and a half hours. It'd be the average tower. Yeah. There's a lot of data to communicate, and all the details are important. It has been from feedback from the clients that has driven our development. I think one of the things that we have to maintain in this business is that ability to get the feedback from the client, this is what I need, and then that ability to quickly design and answer that need. This is the way that we'll increase BIPV deployment.
The other thing I wanted to talk about briefly is we've got some representatives of Kita Williams here, Harry Lusk back there, and Doug Rome. We appointed Kita Williams a few weeks, a couple of months now, I guess. The reason we did was we wanted some experience, more corporate experience about how to move the company from here to there. I'm looking forward to what we're going to achieve together there. I think that's addressing a proper capital strategy and some of the more financial aspects of the business, as well as some management input and some advice on how to take the company from here to the next level. I've done it before one time with Europcar , and I know how hard it is to grow a company. It's not easy.
When everything starts to go, there's a line between what you have to invest and what your return is going to be, and all those things we have to take into account. What I can say is, I think our whole team at ClearVue is monumentally committed. Like Hui, for example, at the back there, Hui Teng Tang , has probably revolutionized our ability to make proposals and to demonstrate our product to the client. Teun and Ros, everybody is putting in the extra yards, I guess what I'm trying to say. Everybody is working the hours. Everybody is committed to the future of this company. I'm so proud of all of them. Everybody has been on this curve for two years. Sometimes it hasn't been easy, I've got to say. Everyone here has the knowledge and has got the commitment to drive this company forward.
I know a lot of people ask for your support before as shareholders and patience. What I can tell you is that I see this as a ClearVue family. Our shareholder base, our job is to deliver, and we're going to do that. With that, I guess I open up for some questions. Anyone got any questions? Yes, go.
You mentioned the licenses at the moment. From memory, at the end of last year, the indicative guidance for June this year was 30. A big shortfall. Can you sort of explain why the gain?
You mean the licensing numbers or revenue? Okay. Maybe I'd take that, Clifton, if you don't mind. Okay. I think what we've been doing is refining the product range, and we've been learning how to integrate our product manufacturer even better into glass manufacture. We have a new range of products coming that you'll see in the coming months, maybe next six months. These also improve our ability to get licenses. A lot of the partnerships we've been doing, like most of it has been to, like for example, we had when we did the LandGlass agreement. LandGlass, what's special about those guys? What's special about those guys is they run a massive R&D investment, right? They have the best, they're the world's best in the production of vacuum glass. They're the only people that can make size, all those things. These things go to our credibility.
When we signed the agreement with LandVac, there's a license here we haven't announced yet, but basically when we sent them the release, it was like, "Send me the contract, I'm going to sign." It's a preponderance of credibility. Does that make sense? No, go ahead. I think it'd be fair to say that there's been a lot of comment on, you know, where's the 60 projects we got told about two years ago? Where's the, and I would tell you that the numbers that you, that was presented before were effectively fairy tales. Now they're not. They're not because the basis of the work we've done will now deliver the outcomes that we need. I know that's not what you want to hear. I know that's probably not what anyone wants to hear.
What I'm trying to show tonight, I guess, is that the underlying work to make this company successful has been done. Now our job is to make it, is to commercialize it. That will come. I think the other thing to bear in mind is what you will see is the quality of the licensee announcements coming is significant. We are not talking about Fred's Glass with, you know, one cutting table. We are talking about serious players in the global glass industry. You will see that in the coming months. I know it's hard for me to have to ask for your patience and stuff, but you will see delivery.
November. End of general meeting, you can ask me that again, okay? We'll see what the difference is. All right? Please do. [Ian].
[Yeah, I'm looking at the whole presentation. We moved away from the windows.]
No, it's not. What we did before was, and what we've done before is we were trying to bang that sort of square peg in the round hole, right? For lots of different reasons, like triple glazed units, when we started off with version one, triple glazed units are really rare because it's heavy, you need more concrete, you need more framing, lots of stuff. What we've undertaken is the opposite way. We've looked at what does the industry demand, what's it take to make a greenhouse panel that makes sense. In the corner there, if you look at those two stripey ones, and you guys can have a look later, that glass is five millimeters thick. It makes 60 W/sq m and has 90% power transmission. That glass is a greenhouse glass.
It's a greenhouse glass because we can use it in existing greenhouse framing systems, and it pays back really quick. That is the new ClearVue in itself. That panel was designed by us, and you can look on the back, it's got all the QR codes and the model numbers and the serial numbers. We can produce that at scale, and we can produce it at a very low cost. We did a proposal for a greenhouse in Japan, and that panel pays back at 18 months. This is the whole concept of the company, and what we've been working on for the last couple of years is this is what we need to deliver to get a client to buy this stuff. That can be thickness, it can be, in this case, it's thin. In Hong Kong, we need to make typhoon glass.
Typhoon glass in Hong Kong is usually 12 mm x 12 mm I know everyone looks at it and goes, oh yeah, that's a solar panel. Actually, when you're trying to laminate a 0.2 mm thick piece of silicon into a 13 mm thick piece of glass, 26 mm total thickness, and the glass weighs 250 kg or whatever it is in a 3.5 m piece, that's bloody difficult. We've had to work out how to do that with sufficient cell reliability. There are so many people in this sector who've made factories, they've tried, there was a famous one in the U.S., whose name eludes me, but their gross margin was like - 86%. That was because they built a factory, they had a great idea, they tried to produce it, there was no reliability. When we design, we have to look at what are the commercials.
If I have to make a hundred to make one of those panels, if I've got to make 10, I only get one good one, that's no good because I can't sell it for the right price. A lot of the technical stuff that we've done, you look at that and go, yeah, it's a piece of glass, got silicon in it, cool. Actually, there's a lot of work behind that in the engineering. We're supposed to be a technology company, and the technology that we bring to bear in the market is the engineering. This is what we do. That's why it's so good to have someone like Linc and e rbas want to partner with us because these guys are the real stuff.
I remember the first time, sorry, Linc, I pitched to erbas, you know, Linc's guys have got the qualifications after their name take two lines on an email, you know? It's so, it's, you know, can't say how much it means to us to have that sort of technical support and people that look at our products and go, yeah, that's going to work. This is for us the objective of the company. The asset is in this business, how we make it, we have to make the product, we have to be able to deploy the product, we have to maintain the product, and we have to report on the product. All of our products have panel-by-panel reporting when we deploy them. All of the products have a particular competitive advantage. In skylight, it could be coatings.
In spandrel glass, it's the way we deploy with a bead seal, so it's easy to maintain. I'm sure you guys can have a, rather than me pontificate all the time, you guys can talk to the team because everybody knows it. These guys have all worked to walk the journey. These guys all know as much as me about the product. Afterwards, when you're having a drink, have a talk to them, you've got any questions technically, they're going to be able to answer. Yeah.
[Certain goals. That's your fancy thing.]
No, I think in the executive C-suite level you're talking about, yeah, I think not. I think one of the issues we had previously, we had lots of C's and no I's. No Indians. I think we, in terms, the way we'll run this business, just to be completely clear, is we will run this business via an executive committee. That executive committee is the people you're effectively seeing here. I am not, you know, I like to think I am sometimes, but I am not the smartest man in the world, right? What any good business needs is a confluence of intelligence. People who have an expertise in a particular area, and it's the melding of that expertise that can drive the company forward. That is the culture that we will have going forward. Yeah.
You mentioned the long lifecycle of the tender and the whole process, and I'm not pushing back on that at all, but it does raise questions about the scalability of your business model. Are you able to comment on that? It's time-intensive, people-intensive from the looks of it, and long. We need to scale. How are we going to get around that?
There are a couple of ways we're going to get around that, obviously. We are going to resource up correctly and link to expenditure. We are going to do that, but also the uptake of our licensed partners, and I'll give you an example. We have two licensed partners now who have employed dedicated sales staff just for ClearVue. We have seen significant uptake in inquiries from them. Our plan will be to train the other people for them to sell. Not all our licensed partners will have sales teams, but a lot of them will, and we'll train for them to sell. They will do the process. We will also get to a point, maybe not this year, but maybe next year, where we have used AI to answer some of the queries and questions. We will automate some of our processes as well in order to get there.
The long period of time is not dictated by ClearVue per se. It's by the internal decisions that go on in businesses, how they get their funding, how they spend it, where they spend it. We don't control that. The construction period is out of our control. We just have to make sure we give the right answers at the right time and have the right product to give the solutions. To scale it up, our strategy is right. We have to keep our costs low. Our OEM partners help us with that, and so do our licensed partners. They will scale up for us. You guys have to remember, we're at a very low ebb of the BIPV trend. It's only going this way. We were recently in South Korea and Seoul, and they have new regulation coming on board that's going to change how they have to build.
All of their buildings over there are nearly 25- 30 years old, and they have to reclad them, and they have to think about electrification of those facades, like Georgina mentioned earlier on. Regulation will help as well, but the BIPV trend is only going this way. As Doug said, if you don't have the reliable product at the right price and have all the answers, it doesn't matter. We do. We do, and it's taken a long time to get there. We're going to have to continue that journey. We have an R&D roadmap which takes us on to generation three and generation four and generation five. Remember, the BIPV trend is going that way. It's going up. Does that answer your question?
Okay.
Doug, I just wouldn't mind congratulating you on your performance since you've been there, and also people like Theresa and the rest of the board. I think that this is really undervalued. I'd just like you to talk about if everyone went out and bought a Tesla motor vehicle, that that would be like a 13% carbon emissions reducer. With the buildings, it's 44%. The thing is, I actually believe that this company can do anything. If you can sort of elaborate a bit on that.
Okay. That's true. If we all drove Teslas tomorrow morning, we affect the world's carbon footprint by about 13%. In the built environment, the number's 44%. About 14% of that is embedded carbon in building products, in concrete, which we have to use to make the building. The balance is operational carbon because we don't like to be hot and we don't like to be cold. The building environment management for air conditioning and stuff is what is driving that number. In fact, one of the reasons that developing countries use so much more power than they used to is because instead of sitting outside with a fan, they now have air conditioning. This is a huge driver of the world's carbon. This is better for Georgina to talk about because she's far more expert at this than me.
At the end of the day, the impact that we have, we can have on the environment is large. I'd like to think that's one of the reasons that all of our people are so committed to this business because if you're a young person, and when we talk about staffing up, just to be clear, yes, construction proposals take a long time. We get a proposal today, most likely, a year at best if it's a small job and two or three years if it's a big one. What we have to be able to do is to facilitate the increase in inquiry. This week, I can tell you we've had nine inquiries, which is a huge number. We need to do proposals, maybe we've got to do 40 a month.
That means at the end of the day, the volume, the wave, shall we say, of the proposals going forward, we're not going to win all those. No chance. Our biggest competitor isn't our BIPV competitors like Onyx or those guys. Our biggest competitor is a standard building material. Using a standard piece of glass or a standard piece of steel or something like that. That's our biggest competitor. We've designed all sorts of stuff and deployment strategies to many shade to, there's so much in it in the detail, which I encourage you to ask about. What we need to do is make sure we resource that wave. We have to be able to respond to the clients efficiently and in sufficient detail to be able to drive those proposals to a successful conclusion. In the end, it's a numbers game, like most sales is, it's about closing rate.
If we have 60, 70, 80, 90, 100 proposals, it means that we will close X% of those, and that means we'll get X amount of projects. In the end, it's about what I feel the best about. Maybe let's talk about it that way. What I feel the best about is that our team, all of them, can present. Georgina did a presentation to the Australian Manufacturing Association recently and a big CPD to a group of architects. I got very complimentary emails about the job that she did. Chris recently presented to AREP. Tao and I and myself have done work with AREP Hong Kong. We've done work with all of the tier one developers in Hong Kong. The work is coming. The other thing that's important is we are now, and we haven't done it in Australia yet.
We have to start the governmental relationships in Australia, and we have to drive that. In Hong Kong, we have very strong governmental relationships. Our view is taken into account. In Singapore, for example, we are part of the discussion on the new solar incentives. This means that the industry and government are starting to look at us as the experts in the field. That's what we need to be. We need to be the experts in the field. We need to be able to respond with detail and high levels of accuracy to explain how we calculate the payback and how the money is going to come back if you decide to put our products on your building. That is definitely going to be the way forward for us.
Yeah.
Doug, through you and probably an answer from Lisa. We're shareholders here. We believe in the product. That's why we're shareholders.
100 percent.
Unfortunately, 18 months ago, I suggested to someone at home that she should take more interest in our share portfolio, and she's been asking me monthly, "How's ClearVue going? CPV?" Sometimes she gets the V and the P back to front. The answer is appalling. The share price has been appalling for 13 months. My answer to her is, the product's still good. The people are still working their bums off. Contracts are happening. The problem is, my darling, nobody has a clue what's going on. It's not being publicized.
Well [crosstalk].
I notice that there's no mention of a government connection. Now, just imagine, just before the next election, Labor saying, "We build all these wonderful houses, and look how green they are because we've got these guys called ClearVue putting all the panels on." None of that's happening in Australia, in Perth. My wife can't see it anywhere.
Admittedly, it is happening in 100 St. George , but she'd have to be pretty tall, in fairness. The point, hang on, let's go to that. Because that's a fair comment. I think that's an extremely fair comment, actually. I think the best way to characterize that is our prior management team, I think, were a little bit scared of me and my team because we were doing the driving underneath. You know, when, and I know you're, and I will tell you that in the fundamental sort of rebirth this company's had in the last six weeks, a large part of that could not have been done without the support of our shareholders. You know, what we've done now, and that's why I'm saying this is ruling a line, we've picked the little train up, right? We've gone off the track a bit.
We've picked the little train up, and now it's back on there again. What I'm trying to explain tonight is, yes, we've had our problems. There's no doubt. What we're trying to do, like with Harry, Doug, and David Williams, is we are trying to put the train back on the path in a way where it's going to run straight, true, fast, and do what it's supposed to do. From my perspective, my prior job at ClearVue was Chief Operating Officer. I was responsible for the R&D, the product design, all of those things that you've seen from my guys tonight. I know how hard it is because I'd done it before, how hard it is to grow a business from start to something. It's not bloody easy. It's really hard.
What you have to have to make your business successful is you need to be able to deliver the quality. You need to be able to have a competitive advantage. You know, when I started Europcar , you imagine a car rental is a car rental, right? Like you rent a Camry from Hertz, you rent a Camry from Avis. The same Camry, right? What's the difference? Nothing is the answer. How do you bring a company into an established market where everybody else has been here for 50 years and you're renting exactly the same product? There's no differentiation. The answer is you've got to find a competitive advantage. In our case, that was network, the way we set up the thing, and we grew really fast. We were the third largest car rental company in this country three years after I started that business.
This business is actually easier. It's easier because I'm bloody lucky to have guys like Tao and Chris and the rest of the development team, and we can engineer product differentiation. This stuff, you haven't seen anything yet. The next six months, the new version of the new product, you guys are going to be very happy, I think. At the end of the day, this is the competitive advantage of this company. Now, you know, you guys are the shareholders, you've read all the communications. Anyone explain it to you like that before? No, right? The reason is, and I think there was just an insufficient understanding of the engineering of the product. When we pitch, we pitch on a technical basis. Before, we weren't doing that.
All of this stuff that is going to lead us to the promised land is because of the technical advantages and the competitive advantage of the product. If you want to start something new, you need to have a competitive advantage. I believe that we've been able to deliver the basis of that, and that more will come over the next six months.
I would just add to that, from a, what? Tha t is absolutely one of the audiences that we want to speak with. Without a doubt, I should face this way. I just want to add to what Doug said because we have not done a good enough job up until this point communicating what makes ClearVue superior to the other products. That is absolutely positively one of our priorities. We will be doing that.
Just to finalize on the government point, the answer is no. We've done a crap job of engaging with government. Yes. In Europc ar, I used to sit on the Tourism Task Force when I used to meet the Tourism Minister every two months. Do we have that relationship? No. Will we? You can ask me in November how we're going. The other thing which Theresa rightly points out I forgot to talk about, because you know, there you go, is the new sticky panel. We call it sticky, but it's not really. It's an advanced lamination process which enables us to put high output solar on a different deployment methodology than standard roofing panels. That deployment methodology has several advantages for anything that is a steel roof building. It gives us an air gap, so it makes the building cleaner. It doubles the life of the existing roof.
If you have a, you know, if you're building a, you've got a warehouse or something, your roof life is usually 20 years. Modular building, it's maybe 15 years. You put this panel over the top, because it makes its own roof, it doubles the life of the material underneath. This is going to be a game-changing product in modular building, in any warehouse. We can make it two ways. We make it with an aluminum back sheet, which gives us a very light number of kilos per meter. We can put it where traditional solar has not been able to go. The second thing we can do is make it with a steel back sheet, which makes it trafficable. There's a picture floating around somewhere. You can probably ask Tao, he'll show you a picture of me standing on it.
I can tell you if it takes me, it'll take most people. At the end of the day, these are, and this is part of the innovation we'll continue to deliver. This product can also be repurposed for wall clad, for other things, and the price is almost the same as normal solar. These products that we're trying to bring to market, the LandVac relationship is exactly the same. We're trying to make a product that is going to deliver a better outcome for the user at a price that the payback makes sense. If we can do that, we'll be successful. Because 1 + 1 = 2 every day.
Thank you for your presentation. I have no doubt you have expertise and you have very dedicated staff, but I've got two questions. One, I'm not clear on whether you have a blockbuster product. It sounds like you've got too many products. The first question is, which one is the blockbuster product? The second question I have is, if you have one, what's stopping someone reverse engineering it and copying it?
Okay, actually, that was a question I remember reading about IP in China too, actually. I'll try to address that at the same time. A blockbuster, what's a blockbuster product? I think actually that question, you know, no offense, right? That question is a little bit what BIPV's problem is, because there is no real blockbuster product. In alternative energy, it's a combination. The way we've designed it is, and when you say a lot of products, actually, when you boil the product down, it's much similar. We do like different ways, but the basic underpinning of the product. If you look at that panel over there with the glass, and then you look at the next panel and the next panel that looks different, actually, the manufacturing, it's the same.
There's different glass thickness, which means we have to use slightly different technique, but the cell layouts and everything are the same. If you look at the cladding over there, these ones here, this cladding has exactly the same cell structure underneath than that piece of glass over there. In the end, it's not so much about a blockbuster product. Most alternative energy things, we don't have the solution yet, you know. There's no like golden bullet to fix our carbon stuff. What we have to do is use combinations of products to deliver the outcome. Now we can deliver very high percentages of buildings' energy use. It's a combination, and I don't know that we have one blockbuster product.
What we're trying to do is to be able to deliver a solution that is a whole of facade, a whole of building thing, and we're also trying to deliver solutions that are this bit here and this bit there on retrofits. I don't think there is really a blockbuster solution. What's important is that we can reduce the building's carbon with a reasonable commercial payback. That's the important thing. If, you know, yes, you go ahead.
We have some blockbuster components. Yeah, we have some blockbuster components. Who asked the question? Yeah, hi. We have some blockbuster components, and you will see them being released very shortly. The junction box is a game changer. There's nothing available in the market like that. Our seal is a game changer. There's nothing available in the market like that. What stops people from copying it? Everyone knows the answer to that. People will always copy. I'm going to go back to what I said. BIPV trend is here. It's going to go up to there. There's enough room in the market for BYD and Tesla, isn't there? There'll be enough room for competition within ClearVue. We will have the best products, and we will have the most innovative products, and we will continue on our roadmap developing them and staying ahead of the field all the time.
That's the only thing we can do. People will always copy.
In our R&D world, we've got a lot of work going on, particularly in terms of fire and particularly in terms of output and stuff. We do have substantial patent protection. Someone asked me the question about China. I've been doing business in Asia for a very, very long time. I can tell you now that IP protection in China is, you know, like Russian roulette. Our strategy in China is we have one of our OEM partners who is a very large company who's very well connected, and we will license our technology to them when the time is right, and I can make the right commercial arrangement. We'll protect it because they are well connected and very large, and a Chinese company won't copy because these guys have got the local horsepower. That is the only way. There is no other way to protect IP in China.
We are thinking about that, and we are taking that into account, and we always try to protect our stuff. In the end, Clifton's correct. We've designed something one way, which we think is pretty advanced. It doesn't mean it can't be designed another. Yeah, we have, oh yeah, I should say, you know, we have a very good relationship with the testing companies, TUV, UL, Intertek. I was in China like three or four weeks ago, or God knows when it was, two months ago maybe. We went to the Beijing glass show, we went to CENEC, and I can tell you we have a three-year lead.
We went to TUV, we went to UL, no one is testing the sort of stuff that we have now, the sort of stuff like the junction boxes, the sort of penetrations we're doing, all of this creative stuff we're doing, nobody's testing it. What that says is, even if somebody copies it, like a lot of the issues with the sales and what we said before is that, you know, we didn't have our certifications to July. We didn't start those timelines largely until July last year. Certifications take a long time to get, and they cost a lot of money. The fact that no one started now means we have at least a two-year lead, I think maybe three. Hopefully with continued innovating, we can maintain that lead. Okay, you guys, I'm getting the wind up. Lisa's trying to [crosstalk].
I have one question.
Oh, sorry.
I have two questions. One question was, thank you very much, the team, for a great presentation. I said a query, as I understand it, you're going to be providing these, it's quite a long supply chain to compile the components for the glass and install them. You've got a long supply chain, and you are proposing to provide 11-year to 30-year warranties and then report on ESG against that. I see a great team there. I'm just looking at the backend risk here. I've never seen a product that would provide an 11- 30, hang on, 11 to 30-year warranty, and you're implying that all this is readily scalable on the company's existing financial sort of capacity. I don't see how you can take additional, for example, there's additional risks that you can't always flow through.
You're telling me you're going to retain residual risk in some form for up to 30 years.
When you buy a solar panel today, mostly they have a 25-year output guarantee. When we did these deals, because I'm old and wrinkly, we've structured them in the correct way. Our manufacturers in China actually take the liability for those warranties, so we back to back that. There is a risk, 100%. We carry insurance for that purpose in case one of our manufacturers is insolvent or something goes wrong. An output warranty is actually not that difficult to provide. If you're using the right quality silicon, that refers to the degradation rate of the cell itself. When a silicon cell makes electricity, it loses a little bit all the time. The first year you put any solar panel or any silicon-based product on a roof, you'll lose 4% of the generation. After that, you lose 0.4%. It's pretty good math.
The other point is that in our products, once we have the, if you look at that piece there, which is an eight by eight piece of glass, a normal solar panel is two and two, or 3.2 and 3.2 without a frame. When it's windy and when there's rain and when there's mechanical stress, it puts stresses on the cells and causes the cell to fail. Once we flash test that piece, an eight and eight glass, because there's very little mechanical stress on the cells, they are extremely reliable. We sort of have three elements in our favor. One, we design for that. One, we do extensive testing. Every batch of PVB, every cell batch, we monitor and we test. The third element is that because of the design of the product, it helps us to be more reliable.
Every solar panel you look at, if you go google when you get home, google Jinko or LONGi or Canadian Solar, they all have 25-year output guarantees, and it is based exactly on the degradation of the silicon. This is not that difficult or risky, really. Yeah.
You're talking about having to remedy a defect in a tall building. I mean, it's [crosstalk].
We're actually [crosstalk].
It just seems to me to be, I just want to look at the team and extremely, extremely experienced on the front end. There is a lot of backend risk to this type of operations.
100%. We also design for that. We have a framing system that enables you to remove the panel very simply. Basically, we designed a framing system that has four sides structural support, which it needs to be to be on a tall building. Your removal process, I mean, you're sure you've got to hang off the little carrier thing and stuff. You basically cut the silicon, pull out the back rod, you slide the panel to the left, it unhooks, you undo your plugs, you get your new panel, put the plugs on, hook it on, slide it to the right, push in a new back rod, and re-silicon. We actually designed for that. That's the framing system that Tao was talking about that we've certified for structural bond and waterproof. I accept that there's always some risk. Don't get me wrong. Things can happen.
I believe that we've taken the appropriate commercial steps to manage our risk in that department. As I said, we are not dealing with Fred Solar. The guy we're dealing with, these are huge companies. I feel that our agreements, and our agreements are all done. I've been doing business in Asia for a long time. Our agreements are all based in Singapore law. They all have the right legal backup. We can talk about it a bit more because Ross is going to kill me unless I [crosstalk].
I've got one comment for the board. As a shareholder, when I assess a company, I like to look at the structure of the company's operations. For the last couple of years, I've been concerned about governance. I wrote a letter to the board. I got an inadequate response. It took me four months. The issues that I've raised haven't been fixed in terms of the existing policies and procedures, which just give a reflection of the general culture of the company. You know, when someone goes and looks at it seriously, they'll look at these issues. If you've got corporate governance policies that are out of date by seven years and you haven't looked at them, and the people that are named in roles aren't even there anymore, it's not a good look. The nature of disclosures of the last two years, you call them fairy tales.
I think the board should really take a look at the shareholders that have been living through this. To say that that stuff was fairy tale, and I don't really recall any adjustment announcements to reflect changes in, let me think, to changes in use. I think moving forward, to give someone like me confidence, I want to see policies and governance statements that are sensible. Your governance statement is really not that great. In terms of disclosure, I think appropriate and timely disclosure is something that's really encompassed by the continuous disclosure rules. To have information that the company's not going to do what it said it was going to do, there should be a disclosure. There's no problem in getting out good news. It's the bad news. When you hide the bad news or delay it, damage gets done to your reputation and to the share price.
I completely agree with that.
Thank you.
I completely agree with that. I think where we are for the moment is the board has obviously just undergone a fairly large change. I'm on the board myself now, but yes, hang on. Hang on a minute. I would say that maybe that's an accurate reflection. Don't know. Certainly, when you say these figures and all that sort of stuff, I can tell you I never saw them. I never got involved in the production of these figures. At the end of the day, what I'm trying to say is, and this is the purpose here, we all want to try to take your feedback. You will note on those presentation slides, everyone on my team just had their phone number up there, including me. What I think you will see going forward is an improvement in that. I agree with you that we had some issues.
Now, a new board has been in place for a very short amount of time. Give us a bit of time, and I think you'll see that there'll be a marked improvement. If not, I'll give you the mark again in November if you're happy to come to the general meeting. It'll take time. These things, I get that, I get completely that everybody is disappointed or mad or whatever. I get that. I know what it's like to, you don't think that when I started in this company, there are many, many of my friends who put money in without even asking me because I joined. If you think that I haven't, that I'm not feeling this, then you'd be wrong. We're going to fix it. I think we already start to fix it. It's not perfect yet.
I believe, you know, what I say all the time is we do all this stuff, right? What we've really done is bought ourselves five years of very difficult work. I appreciate that a lot of you guys have been holders for a long time, and the ride perhaps hasn't been as smooth as we'd hope. What I guess I'm saying is, what I'm trying to do now is show you that it isn't just one person like me. I want to show you what the underlying work has been and why that's going to lead to our success. All I can say for the moment is we will try to improve from where we are from the past. I believe that we're all comfortable that we can make this a success.
I guess I'm asking you guys for your trust to let us, but give me a bit of time and let's see what we can do.
[I don't know. I don't use.]
Okay.
[It's a paraphrase for him, like Doug said. I've tried to, what did you?]
[What's what?]
[Twice in touch. That's why I'm seeing you can help check.]
I think you got to give us a bit of time. I know, I get it. I haven't seen that. I'm sorry. Whoever was supposed to write to that now no longer works for us. I think it is, so we can compare afterwards. Anyway, I got to stop the formal part now. I'm happy to have a talk to you more about this. Yeah. All right, you guys. Thank you very much for coming. I hope it was worth the time.