- ClearVue Technologies (ASX:CPV) makes windows that act as solar panels
- This power can then activate building facilities
- The company today appointed 8G Solutions as its new US distributor, growing its footprint into Colorado, Missouri and Arizona
- The tech greatly helps a building decarbonise and also revolutionises what a solar panel is in the 21st-century context
- Shares last traded at 46 cents
ClearVue Technologies (ASX:CPV) shares surged nearly 10 per cent today following the completion of a new distributor search for the US market.
The chosen distributor, 8G Solutions, will be responsible for distributing ClearVue’s solar integrated glass units (IGUs) to Colorado, Missouri, and Arizona.
ClearVue didn’t need to look far for its new partner, as 8G’s CEO, Chuck Mowrey, already serves as a Non-Executive Director on ClearVue’s board.
“As a Non-Executive Director of ClearVue, I understand the value of this business and am delighted to expand this cutting-edge solar glass technology,” 8G Solutions CEO Chuck Mowrey said.
Mr Mowrey also pointed to one of the Biden administration’s keystone legislation and policy packages – the Inflation Reduction Act (IRA).
The IRA package, ultimately, was named as such to garner Republican support for what is, in essence, a comprehensive climate change policy overhaul.
“The Inflation Reduction Act makes widespread adoption of the ClearVue product and technology into new US building opportunities and even retrofit upgrades a ‘no-brainer’,” he added.
ClearVue’s IGUs are essentially construction glass windows that function as solar panels.
Under a five-year agreement, 8G Solutions will be responsible for promoting ClearVue products in the states of Colorado, Missouri, and Arizona.
8G Solutions holds non-exclusive distribution rights, with the option for exclusive rights if they achieve exceptional performance.
The company typically works on multiple projects with values ranging up to US$15 million.
8G will collaborate with AIT Group, a company that previously manufactured ClearVue IGUs in the US.
“This agreement strengthens our presence in the US, our primary market for growth, and builds on our growing network of manufacturers,” ClearVue CEO Martin Deil said.
“The significant market opportunity in the US is driven by government incentives enabling the construction and building sectors to become environmentally sustainable.
“This agreement also rapidly follows the recent appointments of new distributors in Israel and South Africa.”
CPV shares last traded at 46 cents.