ClearVue Technologies has reached a memorandum of understanding to appoint specialist contractor and building façades manufacturer Seiko Wall as the exclusive manufacturer and distributor of its solar glass technology in Singapore and Malaysia. ClearVue will receive a licence fee and royalties based on the square metres of solar glass panels manufactured and sold using its technologies throughout the five-year licence.
ASX-listed ClearVue Technologies is furthering its Asian expansion after reaching a memorandum of understanding with Singaporean specialist contractor and building façades manufacturer Seiko Architectural Wall System.
Seiko Wall is part of the Seiko Group, which has supplied building façade products to Hong Kong, Taiwan, Malaysia, Japan, the US and Canada for over 40 years.
Under the MoU that was reached on 6 September, the two companies will work together to reach an agreement appointing Seiko Wall as the exclusive licensed manufacturer and sole distributor of its proprietary solar glass window technology and products in Singapore and Malaysia.
ClearVue will receive a licence fee and royalties based on the square metres of solar glass panels manufactured and sold using its technologies throughout the five-year licence, which includes up to three five-year extensions.
Seiko Wall will also purchase from the company certain technology components including ClearVue’s interlayer containing its proprietary nano and micro particle formulation and the photovoltaic solar strips required to be used in the manufacture of the ClearVue PV solar glass windows.
ClearVue Executive Chairman Victor Rosenberg said: “Seiko Wall’s entry into this MoU with ClearVue Asia represents our first licensing opportunity into the South East Asian region. The MoU sets the framework for Seiko Wall to become ClearVue Asia’s exclusive licensed manufacturer and distributor of ClearVue’s innovative building integrated photovoltaic products in Singapore and Malaysia.”
“The Seiko Wall relationship is also great fit with our recent announcement of the engagement of our collaboration partner CSME Power Systems in Singapore and the engagement of our regional office representatives.”
ClearVue’s transparent, energy-generating window glass technology redirects the sun’s ultraviolet radiation and infrared light to the edge of the panel where photovoltaic, or “PV”, cells convert the energy into electricity while allowing 70% of the visible light to pass through.
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