Australian smart building materials specialist ClearVue Technologies Limited (ASX:CPV) has taken a majot step in its expansion into Asia with the signing of an exclusive Distribution Licence Agreement with Hong King-based Full Treasure Engineering Limited in Hong Kong.
HY Chiu, MD of Full Treasure visiting ClearVue team in Perth showroom/office.
Under the terms of the Agreement, Full Treasure will become the exclusive supplier for ClearVue in the Hong Kong and Macau special administrative regions of the People’s Republic of China.
Full Treasure is a leading supplier of advanced glazing products in Hong Kong and Macau including double-glazing, triple-glazing – all typically including thermochromic glass, Polymer Dispersed Liquid Crystal (PDLC) switchable glass or its own patented “GlowingGlass” (proprietary wireless lightbox glazing for shop windows and displays).
Executive Chairman Victor Rosenberg said Full Tresaure adds to ClearVue’s increasing presence in South East Asia and a growing list of manufacturers and distributors for the ClearVue products and technology.
The terms of the Distribution Licence Agreement include:
- Full Treasure will become the exclusive licensee to distribute the ClearVue products and technology in the territories of the Hong Kong and Macau special administrative regions of the People’s Republic of China;
- Exclusivity is subject to compliance with agreed performance criteria related to numbers of IGUs purchased and compliance with the Agreement;
- The term of the License will be 5 years (with 2 further 5-year extensions again subject to agreement compliance and meeting ongoing performance criteria);
- ClearVue retains a carve-out on exclusivity after 2 years for large projects introduced from outside of the exclusive Territories through large international architecture, engineering and construction groups;
- Other terms typical of a distribution license agreement of this nature are included.
The Full Treasure Distribution Licence represents yet another key milestone for the Company in its plans to roll out its sales presence into South East Asia – the first steps being the establishment of our Singapore marketing office, our collaboration with CSME Power Systems along with the recent MOU signed with Seiko Wall,” Mr Rosenberg said.
“Full Treasure is a fantastic partner for ClearVue in the Hong Kong region as it has extensive experience and networks for the sales and distribution of specialty glazing systems already being the exclusive distributor for Pleotint’s thermochromic glazing technology and was also the leading supplier of PDLC switchable glass in Hong Kong – both technologies that can easily be combined with the ClearVue PV products dependent upon architectural and customer requirements.
“ClearVue looks forward to a successful future with Full Treasure as its Hong Kong sales partner.”