ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) has inked a two-year manufacturing and distribution agreement with US-based company Advanced Impact Technologies Inc (AITI) for the manufacture, sale and marketing of ClearVue’s solar photovoltaic (PV) glazing products.
AITI and its associated group companies have operated in commercial lamination and glazing for more than 40 years through branches in Florida and Massachusetts, offering access to an established network within the US market.
Entry to North American market
“This agreement with Advanced Impact Technologies is all about securing ClearVue’s product delivery in the North American market,” ClearVue Technologies executive chair Victor Rosenberg said.
“The AIT Group has both lamination and fabrication capability in the southern and northern US and is a leading supplier of other advanced glazing solutions including for defence and military applications.
“It already has the capability to deliver the ClearVue PV IGU products as well as our smart façade solution as they are already a well-established manufacturer, supplier and installer of PDLC-based switchable glass.
“The intent behind this first agreement is to immediately commence manufacture and supply and then to explore a deeper relationship together in the form of a joint venture or other more integrated relationship as both parties can already see a long and mutually beneficial relationship going forward.
“We believe there is a strong alignment and recognition that the need to decarbonise construction across the board now will be a major driver for both companies going into the future.”
The agreement between the two companies provides exclusive manufacturing and distribution rights to AITI for the states of Massachusetts and Florida, and sole rights to supply the rest of the US territories (excluding Pennsylvania) and Canada.
AITI will also receive non-exclusive original equipment manufacturer (OEM) manufacturing rights to supply ClearVue Technologies with finished ClearVue PV IGUs and smart façade products in the relevant territories.
Possible joint venture on horizon
“The AIT Group prides itself on staying ahead of latest industry developments, new technologies and opportunities,” AIT Group founder and CEO Jeff Besse said.
“The AIT Group sees a very strong alignment with ClearVue as a natural fit to add to our suite of industry-leading products and solutions initially through the signing of this agreement – and longer-term through a much greater level of involvement via the development of a proposed joint venture.
“We see the ClearVue solution as a very timely product responding to the immediate needs for the US to decarbonise all construction – both new build and rehabilitation.
“We already supply specialist ballistic and attack glass to US schools – we see the combination of the ClearVue smart façade ventilation solution that can bring in fresh air whilst reducing the use of traditional air-conditioning (that can circulate viruses and other contaminants) as a great alignment with our existing product offering.
“ClearVue also have opened our eyes to the significant opportunity to supply product into the greenhouse market to respond to food security initiatives and rapidly developing industries such as medicinal cannabis and other high-value crops.”