Investors have jumped onboard smart building materials company ClearVue Technologies in Monday trade after signing a Memorandum of Understanding with Taiwanese-based photovoltaic technologies developer and designer BeyondPV.
The stock climbed to an intraday high of 28c, up 6c or 28%, on news BeyondPV will design, manufacture and supply to ClearVue and its licensed manufacturers, solar PV strip modules for use in ClearVue’s solar PV IGU’s, windows and smart façades.
BeyondPV has also been appointed as an OEM Supplier under an OEM Supply Agreement which is to be finalised and signed within 60 days.
BeyondPV will invest approximately US$3.5 million in establishing a dedicated production line to produce ClearVue’s solar strip modules, for integration by ClearVue and its licensees into the ClearVue IGU and smart façade products. This investment is anticipated to commence before December 2019.
BeyondPV will also provide ongoing R&D activities for continuous improvement of the ClearVue product and technology during the OEM supply term and will work cooperatively with ClearVue to maximise the solar strip shipments for ClearVue and its licensees project developments.
Solar module strip shipment volumes in 2020 are targeted to be greater than 200,000 strips.
BeyondPV will also co-operate on further development of high-quality high-performance solar modules for use and deployment into ClearVue’s IGU and façade products.
ClearVue Executive Chairman Victor Rosenberg said the relationship with BeyondPV provides supply of high-quality high-performance solar strip modules for integration into the ClearVue IGU and smart façade products.
“BeyondPV’s investment into production facilities for creating the ClearVue solar strip modules, a critical component in the ClearVue IGU design and products is a wonderful testament to the commitment that BeyondPV has demonstrated in the ClearVue product and our vision for solar PV generating smart windows and facades,” he said.