By Doug Bright
ASX-listed ClearVue Technologies is set to establish its first supply chain on home soil for its remarkable window glass that can produce energy from the sun.
The company has established a maiden manufacturing and distribution agreement in Australia with Victorian-based glass manufacturer Safety Glass and the agreement follows hot on the heels of a recent string of similar international deals after the company revealed last October that it had locked down its first order in the United States.
The latest contract is a significant new step forward for ClearVue’s technology that revolves around a thin transparent film made from a proprietary formulation of nano and micro particles that sits between two or more panes of glass in a window. The film absorbs the sun’s rays and radiates the energy to the company’s proprietary “solar strips” that border each piece of window glass.
The solar energy is then converted into electricity that can be used either in relation to the windows or inside the building itself.
‘This agreement formalises the relationship between ClearVue and MS Glass built over the last 18 months.’ClearVue Technologies global chief executive officer Martin Deil
The new three-year deal will lock in Safety Glass, which trades as MS Glass, as an original equipment manufacturer to make and supply ClearVue’s solar power-generating “integrated glazing units” (IGUs) either back to the ClearVue or to other projects outside Australia. MS Glass’ exclusive rights will extend to Victoria, New South Wales, Queensland, the Australian Capital Territory and Tasmania.
ClearVue will retain supply rights alongside MS Glass in Western Australia, South Australia and the Northern Territory. The deal will involve two five-year extensions for Safety Glass after the initial three-year term that will be subject to minimum performance criteria being met.
The license renewals will also attract a $500,000 payment from Safety Glass to ClearVue that will give it the ongoing rights to use its trademark.
ClearVue Technologies global chief executive officer Martin Deil said: This agreement formalises the relationship between ClearVue and MS Glass built over the last 18 months. MS Glass was one of four glass processors globally who shared their production facilities and industry knowledge with us, helping us understand IGU manufacture and enabling us to design a product that integrates seamlessly into existing production lines.”
The US order last year comprised a contract worth US$158,336 (A$252,000) for ClearVue to supply its solar windows for a greenhouse project in California. It came after the company revealed the results of a two-year trial installation of its solar glass units at a test greenhouse constructed at Murdoch University in Perth.
Management also later sealed a comprehensive agreement with Johannesburg-based renewable energy company Concept Business Group, which will distribute ClearVue’s products in South Africa, Botswana and Lesotho. A week later, ClearVue revealed it had signed 8G Solutions to distribute its products in Colorado, Missouri and Arizona in the US.
It has also signed on Greendustrial Global as an official distributor in Israel.
The company’s most recent overseas success came with the signing of a non-exclusive five-year manufacturing and distribution deal with Singapore glass processing specialist H T Glass, effectively exposing it to the vast south-east Asian market.
The deal with Safety Glass’ subsidiary MS Glass marks a new chapter in ClearVue’s journey and cements its position as a smart glass manufacturer and distributor in Australia. MS Glass was founded in the 1960s and operates a 15,000-square-metre processing facility in Victoria where it employs more than 70 staff.
MS Glass general manager Tania White said the company has already methodically marketed the product for about 18 months and engaged with end-customers for feedback.
And if the financial markets are any guide, that feedback will likely be positive with ClearVue’s share price rocketing from 16.5c to 66c in 2023 – a jump of 300 per cent.
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Source: Thanks smh.com