Glazing solutions provider Clearvue Technologies Ltd (ASX:CPV) has seen its share price rise more than 15% on news it has signed an agreement with Qatar company Alutec (Aluminium Technology Auxiliary Industries WLL) and a group company under Aria Holding, which will enable the company to gain a foothold in the Middle East and Indian construction markets.
At 11:44 AEDT, Clearvue shares were trading at 51 cents, a rise of 15.91% since market opened.
The five-year agreement announced today will bring Clearvue into a manufacturing and distribution partnership for its Solar Glazing and Insulated Glass Units (IGUs), targeting Alutec’s key markets, significant because the latter company is Qatar’s largest glass processor and façade manufacturer.
A second agreement – to be signed in the coming weeks – will be made with Dune Trading LLC, group company under Aria Holding in the United Arab Emirates.
The market was undoubtedly excited by the potential for Clearvue to capitalise on its exposure to the construction sector of Qatar, UAE, and Saudi Arabia – projected to reach a value of US$240 billion by 2029, and the Indian construction sector, set to reach $1.4 trillion by 2025.
Global CEO Martin Deil – who signed the initial deal with Alutec CEO Suraj Thampi – said exposure to these large and growing sectors made the deal a thrilling one for Clearvue.
“This agreement aligns with our growth strategy to partner with key manufacturers in
strategic target markets: for the Middle East, Alutec is a prominent and well-respected leader in design, engineering, manufacturing, and installation for building envelopes,” he said.
“Alutec understands the value of our unique technology for builders and building owners
across the Middle East and India as they invest in sustainable smart cities and prepare for
incoming construction decarbonization mandates.
“ClearVue offers the only high-energy clear solar vision glass on the market easily integrated
into window manufacturing lines, helping building owners reduce carbon emissions while
improving energy efficiency.”