ClearVue signed a strategic collaboration agreement earlier this month with the experienced South Korean solar and building company, Sinrok, to distribute ClearVue’s advanced solar glazing technologies in the country.
Under the terms of the agreement, Sinrok will serve as a non-exclusive distributor for building, construction, and greenhouse applications and as the exclusive distributor for solar fencing and roadside noise mitigation barriers.
Sinrok has also been appointed ClearVue’s exclusive partner to secure the development and delivery of the US$19M (A$29.75M) Bara Factories expansion project in South Korea. The major project will increase the floor area of the Bara Factories industrial precinct in South Korea’s North Chungcheong province by 25,470 square metres.
The partnership will allow ClearVue to integrate its renewable energy solutions at the site, allowing factories and industrial premises to generate some or all of their own renewable power while improving their energy efficiency and achieving environmental, social and governance compliance in modern manufacturing.
The Bara Factories expansion will serve as a leading example of this next-generation smart manufacturing infrastructure.
ClearVue’s Sinrok collaboration significantly aligns with South Korea’s national Smart Factory vision and is impeccably timed as the Asian country invests strongly in modernising its factories with Industry 4.0 technologies, including the Internet of Things, artificial intelligence and clean energy.
The parties intend to formalise a distribution agreement in the coming months, which will include detailed commercial terms, product support and the division of local certification responsibilities.
Until then, Sinrok will focus on securing the Bara Factories expansion project and expanding its broader potential customer base across South Korea.
In another achievement, ClearVue installed its solar-integrated glazing units into a net zero prototype modular home constructed by the New South Wales-based, modular building company, Prefabulous.
The company builds stylish studio up to four-bedroom, architecturally designed modular houses for people seeking affordable and sustainable living and work spaces.
ClearVue has also made significant progress in establishing its United States operations, having engaged a local contractor network, including electrical planning specialists to support its implementation of its integrated solar glazing technologies.
With expansion of its project pipeline and mid-2026 delivery targets, the company is also moving ahead with a testing program with US-based Underwriter Laboratories, a third-party company that certifies products to achieve better worker and consumer safety.
To capitalise on the company’s recent run of technical expressions of interest in its technologies, ClearVue is also collaborating with industry partners to deploy demonstration units at potential partner sites.
As part of this process, it is proactively reaching out to architects, developers and modular construction firms to develop its customer base and opportunities to integrate products into more new projects. It has also updated its product display centre in Perth.
The company has a long-standing greenhouse research site at Murdoch University in Perth, has materials research and design work underway with Macquarie and Melbourne universities and a new joint program with the Royal Melbourne Institute of Technology.
ClearVue’s positive project and development pipeline is matched by its financials. The company reports a March 31 cash balance of almost $4.6 million, with $23,000 received from customers and a $1.09M from a Federal Government research and development tax rebate.
ClearVue seemingly has a good breeze behind its sails, as it moves to prioritise an expanded project pipeline, convert opportunities into commercial projects in countries where it has a foothold and continues to expand its licensee network.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
