Solar windows maker ClearVue inks LOI for distribution in China

Australian smart building materials maker ClearVue Technologies Ltd (ASX:CPV) has signed a letter of intent (LOI) with Beijing Jinmao Green Building Technology Co Ltd to promote, distribute and develop its smart solar windows in Mainland China.

Before the distribution deal can be formally signed, the partners will complete a trial building project at a site in China’s Hebei province, ClearVue said Thursday. The project will use the company's existing offering of insulated glass units (IGUs) integrated with solar photovoltaic (PV) cells.

Construction of the trial project is expected to be finalised by September 30, 2020, depending on how much the COVID-19 virus will affect manufacturing, transport and other activities.

The outcome of the project will determine subsequent collaboration on marketing and distribution of ClearVue’s PV IGUs in Mainland China. Under the terms of the LOI, Jinmao Green Building, a unit of Hong Kong-based real estate and hotel developer China Jinmao Holdings Group Ltd (HKG:0817), can potentially become the Australian company’s exclusive distributor.

The LOI further sets out a collaboration path on a joint research and development (R&D) programme, as well as possibility of forming a joint-venture company and a manufacturing plant in China.

A formal exclusive distribution agreement is expected to be concluded by December 31, 2020.

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