ClearVue spreads solar glass wings into Middle East, India
ClearVue Technologies has inked a five-year manufacturing and distribution deal with Qatar’s top glass processor and façade manufacturer, Aluminium Technology Auxiliary Industries (Alutec), targeting sales into the vast Indian and Middle Eastern markets with its solar-embedded glass technology.
Under the terms of the deal Alutec will manufacture and distribute ClearVue’s solar glazing and insulated glass units into India and the Middle East to take advantage of burgeoning government-led demand for renewable solutions that improve energy efficiency and sustainability in buildings.
According to the company, the agreement now opens the door to construction markets in Qatar, the United Arab Emirates and Saudi Arabia, which is expected to be worth a combined $240 billion (AU$367.53 billion) by 2029. It also builds connection with the Indian building sector that is forecast to reach an even more staggering $1.4 trillion (AU$2.14 trillion) by as early as next year.
This agreement aligns with our growth strategy to partner with key manufacturers in strategic target markets. ClearVue can immediately take advantage of these rapidly expanding markets. ClearVue offers the only high-energy clear solar vision glass on the market easily integrated into window manufacturing lines, helping building owners reduce carbon emissions while improving energy efficiency.
Alutec pre-construction director John Douglas said the Middle Eastern region was “preparing for the future” and he saw ClearVue as a key part of its expansion plans.
The company is the biggest building façade manufacturing firm in Qatar and a top-three player in the region. It has been integral to building Qatar’s stunning skyline for more than two decades, giving it a head start in being able to push ClearVue’s solar vision glass into its local market and integrating the solar technology into building façades.
Additionally, Alutec is establishing manufacturing facilities in India, granting ClearVue access to that nation’s seemingly vast building sector. That would suggest the strategy to expand into India is built on solid foundations.
ClearVue says government-led initiatives and net-zero mandates in the Middle East and India are driving significant investments in renewable energy solutions. As ClearVue’s technology converts buildings into mini renewable energy hubs, it fits the bill in helping customers meet energy and sustainability goals.
The company’s integrated glazing units (IGUs) form the basis of its solar solution.
An IGU is a clear, double-glazed glass panel with a laminated plastic interlayer that sits between the two glass panels. The laminated proprietary technology interlayer contains nano and microparticles. Light is allowed to pass through the glass and the interlayer activates ultraviolet and infrared light and diverts the energy to thin solar strips embedded around all internal edges of the window, where they are then converted from energy into electricity. ClearVue recently expanded its range of energy-promoting products with the introduction of its new building-integrated photovoltaic units (BIPVs). It enables the company to offer a solution for vision and non-vision areas of any building and allows for the complete external envelope of a building façade, using the new cladding and spandrel units, to be converted into a power-generating area.
ClearVue and Alutec’s partnership appears to represent a significant step towards revolutionising the construction industry with smart building materials. The combined market potential in Qatar, the UAE, Saudi Arabia and India clearly presents a big opportunity for the company and comes hot on the heels of a recent deal in the United States with a greenhouse manufacturer.
As ClearVue’s brand recognition grows, it seems the global market is peering through the looking glass to get a better view of its product and that, in turn, is likely to attract the attention of a broader investment market.
Shareholders backed that sentiment during today’s ASX intraday trading session, pumping the company’s stock up more than 21 per cent to a high of 53c on strong volumes.
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