Environmental tech company ClearVue Technologies (ASX: CPV) is poised for a launch into the lucrative Mainland China market having entered an agreement with China Jinmao to trial ClearVue’s solar technology with a view towards exclusive distribution.
The trial project will be undertaken by China Jinmao’s wholly owned subsidiary Jinmao Green Building which will apply ClearVue’s solar technology into glass and building surfaces, specifically windows, to capture renewable energy.
“The LOI (Letter of Intent) with Jinmao Green Building Technology Co. Ltd represents fantastic initial first steps towards firming up our market entry strategy for sales in Mainland China,” said ClearView Chairman, Victor Rosenberg.
“To date our focus in China has been on securing OEM partners for sales outside of Mainland China. Jinmao Green Building is a very well-established brand in the green building space and is supported by its parent, China Jinmao Holdings Group who are leading real estate and hotel developers in the PRC.
“ClearVue looks forward to completing a successful initial trial building project with Jinmao Green Building in the PRC in this year (subject to the impacts of the COVID-19 virus) with the intent that if successful Jinmao Green Building is subsequently appointed as a distributor for the ClearVue products for sale in Mainland China.”
The trial of ClearVue’s products in China is expected to be completed by the end of September 2020 with ClearVue hopeful of formalising an exclusive distribution contract by the end of the year.
“We are very much looking forward to working with ClearVue, initially to completing our initial trial and then to exploring how we can introduce the ClearVue product into green building projects in the Mainland China market,” said Dr Chao Zhang, Chief Technology Officer & Dean of Smart Energy Research Institute of Beijing Jinmao Green Building
“We believe that the ClearVue PV product will be a fantastic complement to and a great fit with the range of other green building products and materials we have been introducing into the Mainland Chinese construction industry over the last few years.”
China Jinmao is listed on the Hong Kong Stock Exchange with a market cap around USD $7.7 billion.
ClearVue shares responded well on news of their Letter of Intent with Jinmao Green Building, opening at $0.12 per share, a rise of 14% on their previous day’s close of $0.105.