Clearvue Technologies (ASX:CPV) secures first Japanese licensee

Sourced: Finance News Network

Clearvue Technologies (CPV) has taken up an exclusive distribution agreement with Japanese agribusiness, Tomita Technologies.

Under the new arrangement, Tomita will be responsible for the sales and marketing of Clearview’s insulated glass products in Japan for use in greenhouses and protected cropping agriculture.

ClearVue’s glass technology aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

The licence lasts five years with the ability to extend, while the exclusivity element is subject to a minimum performance criteria based on the number of insulated glass units purchased each year from ClearVue.

Clearvue Executive Chairman Victor Rosenberg said the company believes its IGU products could prove a significant driver for Clearvue.

“We are looking forward to Tomita joining us as our newest distributor for the Japanese greenhousing market and as our first licensee in Japan,” Clearvue Executive Chairman Victor Rosenberg commented.

According to Clearvue, Yokohama-based Tomita has operated in greenhousing since 1947 and has installed over 286,000 square metres of greenhousing.

Clearvue Technologies is up 10.1 per cent following the announcement, trading at 60 cents per share at 12:01 pm AEST.

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