ClearVue signed MOU with Grafsol to enter the Middle Eastern market

CPV

ClearVue Technologies Limited (ASX: CPV), operating under the Building Integrated Photovoltaic (BPIV) sector, is a technology company domiciled in Australia. Under the BVIP sector, solar technology is integrated into agricultural and building industries. This solar technology provides renewable energy to these industries.

CPV has developed an advanced glass technology in which Solar PV cells are placed around the corners of an Insulated Glass Unit (IGU); its patented proprietary nano and microparticles are placed in the lamination interlayer that is in between the glass in the IGU; and on the rear external surface of the IGU, spectral selective coating is done. By this way, the glass transparency and building aesthetics are preserved while generating electricity.

CPV has worked with Electron Science Research Institute, Edith Cowan University (ECU) in Perth to develop window technology to be used in building, construction and agricultural industries. 

Today, CPV has signed a memorandum of understanding (MOU) with Grafsol Trading LLC (Grafsol). The MOU gives Grafsol the distribution rights in Bahrain, United Arab Emirates (UAE), Kuwait, and Qatar along with the non-exclusive distribution rights in Saudi Arabia. CPV might also give Grafsol the right to manufacture based on its performance on which a license fee may apply.

Grafsol is an independent trading company which is engaged in the business of importation and sale of green building products in the UAE and has huge contacts into the government agencies and building industry in the greater middle east region. It focusses on the promotion of innovative green products including nanotech paint solutions. It was founded on the core idea of achieving a better tomorrow through the application of innovative products.

Under the MOU, CPV and Grafsol will together formalize a Distribution License within 60 days of the MOU being signed subject to satisfactory due diligence of Grafsol by CPV. The term of the License will be 5 years and has a provision of 2 further 5-year extensions. Grafsol will pay royalties to CPV in USD based on square meters of glass sold.

Additionally, if Grafsol is granted the right to manufacture, it shall be required to purchase certain technology components including ClearVue’s PVB interlayer as well as the solar cell strips necessary for the manufacturing of the ClearVue PV glazing system.

As per the management of CPV, this MOU is a great opportunity to enter the Middle Eastern region and expects to include manufacturing rights for this territory soon.

Looking at ClearVue Technologies Limited’s stock performance and the return it has generated over the past few months, CPV has generated a negative return of 12.31% during the past three months and a positive return of 1.79% during the last month. It is currently trading at $0.310 (as on 01 February 2019, 03:55 pm AEST) with a surge of 8.772% in the price during the day’s performance. CPV has approx. 97.38 million shares outstanding with the market cap of circa $27.75 million. The 52-week low and high for CPV are marked at $0.110 and $0.830 respectively.


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