Communicators

Highlights

-          ClearVue signs Letter of Intent with Beijing Jinmao Green Building Technology Co. Ltd in China

-          The Parties to complete a trial building project that deploys the ClearVue IGUs at Hebei Province (TBC) in Chinaï¼›

-          Subject to a successful trial the parties to negotiate terms of a Distribution Agreement for Jinmao Green Building Technology to potentially become the exclusive distributor for the ClearVue PV IGUs for sale in Mainland China.

23 April 2020: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to announce that it has signed a Letter of Intent (LOI)  with Beijing Jinmao Green Building Technology Co. Ltd (Jinmao Green Building).

The LOI sets out the intention of the Parties on establishing a collaboration for the promotion, distribution and joint development of ClearVue’s IGU and smart solar windows for sale in the mainland Chinese market (excluding Hong Kong SAR, Macau SAR and Taiwan) (Mainland China).

Jinmao Green Building is wholly owned by China Jinmao Holdings Group Limited (China Jinmao), a company listed on the Hong Kong Stock Exchange and a subsidiary of Sinochem Group Co. Ltd. (see About section below). Jinmao Green Building provides green building and other environmental expertise and technical support to its parent company including to ensure construction projects undertaken by the China Jinmao are in compliance with construction and environmental laws and regulations imposed by the PRC government.

The terms of the Letter of Intent include that:

-          The Parties will first complete a trial project using existing ClearVue products and technology. The terms of the Trial Project are to be agreed but will comprise integration of the ClearVue PV IGU glazing into a new construction project being completed by Jinmao Green Building or its associates at a location in the Hebei Province of Mainland China (Trial Project).

-          Subject to the outcome of the Trial Project, the Parties will collaborate on forming a partnership with Jinmao Green Building potentially becoming ClearVue’s exclusive distributor in and for Mainland China;

-          The Parties will then seek to collaborate further on an agreed joint research and development program, with the further possibility of establishing a joint venture company and a manufacturing plant in and for Mainland China together.

-          It is expected that the Trial Project will (subject to minimal delays from the COVID-19 virus impacting on manufacturing, transport and installation times etc.) be completed by 30 September 2020, with the intent that a formal exclusive distribution agreement then be concluded by 31 December 2020.

-          Unless otherwise agreed in writing, each party shall bear its own costs and expenses incurred, i.e. travel, and shall not request reimbursements from the other party.

Commenting on the Letter of Intent, Executive Chairman Victor Rosenberg has said:

“The LOI with Jinmao Green Building Technology Co. Ltd represents fantastic initial first steps towards firming up our market entry strategy for sales in Mainland China. To date our focus in China has been on securing OEM partners for sales outside of Mainland China. Jinmao Green Building is a very well-established brand in the green building space and is supported by its parent, China Jinmao Holdings Group who are leading real estate and hotel developers in the PRC. ClearVue looks forward to completing a successful initial trial building project with Jinmao Green Building in the PRC in this year (subject to the impacts of the COVID-19 virus) with the intent that if successful Jinmao Green Building is subsequently appointed as a distributor for the ClearVue products for sale in Mainland China.”

Commenting on the Letter of Intent, the Chief Technology Officer & Dean of Smart Energy Research Institute of Beijing Jinmao Green Building Technology Co. Ltd, Dr Chao Zhang has said:

“We are very much looking forward to working with ClearVue, initially to completing our initial trial and then to exploring how we can introduce the ClearVue product into green building projects in the Mainland China market.  We believe that the ClearVue PV product will be a fantastic complement to and a great fit with the range of other green building products and materials we have been introducing into the Mainland Chinese construction industry over the last few years. We look forward to working with ClearVue to find suitable projects for this fantastic product and see a confident future together.”

This announcement was approved for release by the Board of ClearVue Technologies Limited.

Please follow the link to view entire original news:

https://www.asx.com.au/asxpdf/20200423/pdf/44h5j9y02ljg8z.pdf

For further information, please contact:

ClearVue Technologies Limited

Victor Rosenberg

Executive Chairman

ClearVue Technologies Limited

victor@clearvuepv.com

P： +61 8 9482 0500

About ClearVue Technologies Limited

ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into glass and building surfaces specifically windows and building facades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectral selective coating on the rear external surface of the IGU.

ClearVue’s window technology has application for use in the building and construction and agricultural industries (amongst others).

ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.

To learn more please visit: www.clearvuepv.com

About Beijing Jinmao Green Building Technology Co. Ltd

Beijing Jinmao Green Building Technology Co. Ltd is a wholly owned subsidiary of China Jinmao Holdings Group Limited (SEHK: 00817) (incorporated and headquartered in Hong Kong SAR) itself a subsidiary of the China state-owned enterprise Sinochem Group Co., Ltd., one of the Top 500 World’s Enterprises. China Jinmao Holdings Group Limited (China Jinmao) is a platform enterprise under the real estate and the hotel segment of Sinochem Group Co., Ltd. Sinochem Group is one of the central state-owned enterprise approved by the State-owned Assets Supervision and Administration Commission to engage in property development and hotel operations.

To learn more please visit: http://www.greenjm.cn/

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ClearVue Technologies Limited, are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.