Smart building materials company ClearVue Technologies (ASX:CPV) has entered the Middle East and North Africa (MENA) and Indian markets with a Manufacturing and Distribution agreement with Aluminium Technology Auxiliary Industries WLL (Alutec), Qatar’s largest facade engineering company and a group company under Aria Holding.
The agreement with Alutec, signed by Suraj Thampi, Alutec's CEO, and Martin Deil, ClearVue Technologies' global CEO, marks ClearVue’s expansion into one of the world’s fastest- growing construction markets, where demand for sustainable solutions and building integrated photovoltaics is growing rapidly.
Under this five-year agreement, Alutec will manufacture and distribute ClearVuePV Solar Vision Glass, a product that integrates solar technology into building façades to enhance energy efficiency and sustainability in key markets. This innovative technology is set to revolutionize the construction industry by offering significant environmental benefits and supporting various governments' ambitious sustainability targets. In addition, Alutec will also have the rights to distribute the ClearVue solar building envelope solutions.
“We are thrilled to announce our entry into the large and growing construction sector in the Middle East and India with Alutec, the largest facade engineering company in the Middle East,” Mr Deil said.
“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.
“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 decarbonisation mandates.
“ClearVue can immediately take advantage of these rapidly expanding markets. The combined construction sector in Saudi Arabia, UAE and Qatar is growing at 4.75-9.13% CAGR, projected to reach US$240 billion by 20291. India’s construction sector, already valued at US$825.6 billion in 2023 and growing rapidly.
“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.
“We see Alutec as a strategic partner and we will pursue opportunities to collaborate on projects where ClearVue products offer substantial value.”
Alutec joins ClearVue’s growing global list of licensed manufacturers and distributors including AIT Group (Tampa, Florida), Graboyes (Pennsylvania), Tomita Technologies in Japan (greenhouses), as well as the recently appointed MS Glass in Melbourne Australia, HT Glass in Singapore, System USA in California (greenhouses), 8G Solutions (Missouri, Kansas and Arizona), Greendustrial Global in Israel, and the Concept Business Group in South Africa.
The agreement is made with Alutec (Aluminium Technology Auxiliary Industries WLL) in Qatar. A second agreement is to be made with Dune Trading LLC (group company under Aria Holding) in the United Arab Emirates, it is expected to be signed in coming weeks and will further expand the relationship. ClearVue looks forward to updating the market as soon as this second agreement has been signed.