ClearVue secures $3 million non-dilutive funding to advance certifications
ClearVue Technologies (ASX: CPV) has secured a ClearVue Technologies R&D Funding Facility of up to A$3.0 million from RiverFort Global Opportunities, structured as a non-dilutive bridge funding arrangement secured against the Company’s FY26 Research & Development Tax Credit. The facility comprises an initial advance of A$1.0 million, with a further A$2.0 million available by mutual agreement between the parties.
The non-dilutive structure protects existing shareholder value at current market levels, with the Board publicly stating it views the Company as materially undervalued. The first drawdown of A$1.0 million is scheduled to occur on or before 12 March 2026.
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What is R&D tax credit funding?
R&D tax credit funding allows companies with significant research and development expenditure to borrow against their expected government R&D rebates before they are received. This mechanism is common practice among technology companies that generate substantial R&D tax credits through eligible innovation activities.
The structure is considered “non-dilutive” because it does not require issuing new shares or equity to raise capital. Instead, companies monetise an existing government entitlement, preserving ownership percentages for current shareholders while accessing working capital to support ongoing operations.
For investors, this funding type signals management’s confidence that equity markets are undervaluing the company, making debt secured against tax credits a more shareholder-friendly option than raising capital through share placements at current prices.
Facility terms and structure
The ClearVue Technologies R&D Funding Facility carries an 8% per annum interest rate and a 4% implementation fee. The facility includes an attaching options structure where RiverFort receives options equal to 30% of each drawdown amount divided by the Reference Price (5-day VWAP on the trading day prior to drawdown), exercisable at 130% of the Reference Price, expiring 24 months from the relevant drawdown date.
| Term | Detail |
|---|---|
| Headline Amount | A$3,000,000 |
| Initial Drawdown | A$1,000,000 (on or before 12 March 2026) |
| Interest Rate | 8% per annum |
| Implementation Fee | 4% |
| Options Exercise Price | 130% of Reference Price |
| Options Expiry | 24 months from drawdown |
| Availability Period | 12 months from last drawdown |
The options structure provides upside alignment for RiverFort while the interest rate reflects the secured nature of the facility against the R&D rebate. The 12-month availability period provides flexibility for ClearVue to access the additional A$2.0 million as operational milestones are achieved.
Strategic use of proceeds
The facility proceeds will be allocated across four operational categories, each targeting certification milestones and commercial deployment activities that represent key value drivers for the business:
- Testing and certification programmes
- Product compliance and validation initiatives
- Advancement of commercial deployment activities
- General working capital
This allocation directly supports the operational pathway required to unlock commercial revenue opportunities. Testing and certification programmes represent critical milestones for building product adoption, while compliance and validation initiatives address market entry requirements across different jurisdictions.
The focus on commercial deployment activities signals the Company’s transition from development phase to active market engagement, with working capital supporting day-to-day operations during this progression.
Management and partner perspective
Chief Executive Officer Douglas Hunt emphasised the facility’s shareholder protection benefits and execution focus in the Company’s announcement:
Douglas Hunt, CEO & Managing Director
“This Facility provides CPV with structured capital at a time when the Board views the Company as materially undervalued by the market. Importantly, it enables us to advance critical certification milestones, while protecting existing shareholders from unnecessary dilution at current market levels.”
RiverFort’s position as an existing shareholder adds a conviction signal to the transaction, with CEO Gytis Martinkus highlighting addressable market growth and decarbonisation tailwinds:
Gytis Martinkus, CEO of RiverFort
“As an existing shareholder this support reflects the clear addressable market growth in this sector and the macro environment clearly strengthening with the increasing global drive to decarbonisation. ClearVue has a compelling product portfolio that goes directly to servicing this increasing demand.”
For investors, an existing shareholder providing structured funding at these terms suggests informed confidence in near-term execution and commercial conversion prospects.
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Next steps for ClearVue
The immediate timeline centres on the first drawdown of A$1.0 million by 12 March 2026, providing working capital to advance certification programmes and commercial deployment activities. The 12-month availability window for the additional A$2.0 million provides flexibility to access further tranches as operational milestones are achieved.
Shareholders can access ongoing updates through the Company’s InvestorHub portal, which provides centralised access to announcements, investor presentations, and strategic updates.
The funding runway supports ClearVue (ASX: CPV) through its current certification phase, with the structured facility aligning capital availability to milestone delivery. The non-dilutive structure preserves shareholder value while management executes on certification completion and commercial conversion objectives.
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