Communicators

HIGHLIGHTS

-          ClearVue executes a two-year Manufacturing and Distribution Agreement with Advanced Impact Technologies, Inc. (AITI) of Tampa Bay area, Florida

-          AITI and associated Group companies have operated in commercial lamination and glazing for over 40 years with branches in Massachusetts and Florida

-          Agreement provides for exclusive manufacturing and distribution rights to AITI for the states of Massachusetts and Florida, sole rights to supply the rest of the US territories (excluding Pennsylvania) and Canada, and OEM manufacturing rights to supply to ClearVue for on-supply in those same territories

19 July 2022: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to announce that it has executed a Manufacturing and Distribution Agreement with Advanced Impact Technologies Inc. (AITI)  in the United States of America for the manufacture, sale and marketing of ClearVue’s world-leading solar PV glazing products (Agreement).  

AITI is part of Advanced Impact Technologies Group, Inc (AIT Group), which includes related companies LTI Smart Glass, Inc and School Guard Glass, LLC. AIT Group is a leading provider of innovative laminated glass and polymer products along with related technology solutions to a broad range of industries with commercial and specialist applications such as architectural, automotive, airline, marine, industrial, entertainment, security, ballistic, blast and impact, and decorative glass laminates. The AIT Group of companies are pioneers in the processing and laminating of polymer dispersed liquid crystal (PDLC) electrified and variable tint films, and are renowned for creativity in providing advanced, customised solutions to meet specific customer needs.

The AIT Group of companies are also a leading laminator for security glazing products for the US and municipal governments, the US Armed Forces, the US Department of State, New York City Police Department, numerous financial institutions, and thousands of schools, court houses and prisons and detention centers, to name just a few.

AITI and its sister companies, including LTI Smart Glass, Inc, have operated in the commercial lamination and glazing businesses since 1999 and 1981 respectively, and boast a work force of more than 200 based in almost 300,000 square feet of manufacturing and distribution space in Massachusetts and Florida, serving all of North America. As a vertically integrated organisation, the company sees the process through from start to finish, with design, clean room and production facilities designed to deliver reliable, high-quality products whether for security, architectural, or decorative purposes. To deliver this, AITI maintains and operates seven autoclaves, three tempering ovens, multiple CNC machines, and spacious areas for unit assembly, cutting and polishing.

The terms of the Agreement include but are not limited to the following:  

-          AITI is:

• Appointed the exclusive manufacturer and distributor for supply of the ClearVue PV IGU and smart façade solutions within the (US) states of Massachusetts and Florida;  
• granted sole rights (alongside ClearVue itself) to supply the ClearVue PV IGU and smart façade solutions within the other USA states (excluding Pennsylvania) and Canada;
• granted non-exclusive rights to supply ClearVue (acting as an OEM manufacturer for ClearVue) for sale of finished ClearVue PV IGUs and smart façade products by ClearVue in all other USA states and territories (excluding Pennsylvania) and Canada;

-          the license is for a period of two (2) years with the stated intent that the parties move towards entry into a formal joint venture before conclusion of the term but only after 12 months, and subject to mutual satisfaction and entry into additional further formal agreements; and

-          the Agreement includes other terms typical of a manufacturing and distribution license agreement, and OEM manufacturing agreement of this nature, with further details set out in the Annexure.  

Commenting on the Agreement, ClearVue Executive Chairman Victor Rosenberg has said:  

“This agreement with Advanced Impact Technologies is all about securing ClearVue’s product delivery in the North American market. The AIT Group has both lamination and fabrication capability in both the Southern and Northern US and is a leading supplier of other advanced glazing solutions including for defence and military applications. It already has the capability to deliver the ClearVue PV IGU products as well as our smart façade solution as they are already a well-established manufacturer, supplier and installer of PDLC-based switchable glass.

The intent behind this first agreement is to immediately commence manufacture and supply and then to explore a deeper relationship together in the form of a joint venture or other more integrated relationship as both parties can already see a long and mutually beneficial relationship going forward. We believe there is a strong alignment and recognition that the need to decarbonise construction across the board now will be a major driver for both companies going into the future.”

Commenting on the Agreement, AIT Group Founder and CEO, Jeff Besse said:

“The AIT Group prides itself on staying ahead of latest industry developments, new technologies and opportunities. The AIT Groups sees a very strong alignment with ClearVue as a natural fit to add to our suite of industry-leading products and solutions initially through the signing of this agreement – and longer term through a much greater level of involvement via the development of a proposed joint venture.

We see the ClearVue solution as a very timely product responding to the immediate needs for the US to decarbonise all construction – both new build and rehabilitation. We already supply specialist ballistic and attack glass to US schools – we see the combination of the ClearVue smart façade ventilation solution that can bring in fresh air whilst reducing the use of traditional air-conditioning (that can circulate viruses and other contaminants) as a great alignment with our existing product offering. ClearVue also have opened our eyes to the significant opportunity to supply product into the greenhouse market to respond to food security initiatives and rapidly developing industries such as medicinal cannabis and other high value crops.”

 Authorised by the Board of ClearVue Technologies Limited

FOR FURTHER INFORMATION, PLEASE CONTACT:

ClearVue Technologies Limited

Earle Harper

Head of Investor Relations

earle.harper@clearvuepv.com

+61 407 345 180

Citadel-MAGNUS

Michael Weir / Russell Quinn

0402 347 032 / 0403 322 097

Profile Advisors

Rich Myers

rmeyers@profileadvisors.com

+1 347 774-1125

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 building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.

ClearVue’s electricity generating glazing technology is strategically positioned to complement and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.

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 spectrally 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 ADVANCED IMPACT TECHNOLOGIES

Headquartered in the Tampa Bay region, Florida USA, Advanced Impact Technologies Group, Inc (AIT Group) is a leading raw materials, technology manufacturing and service organization; providing laminated glass and polymer products to various industries including airline, architectural, automotive, entertainment, industrial, marine, defense and security. Member companies include LTI Smart Glass, Inc, School Guard Glass,LLC, Allied Protective Glazing,LLC, AIT Thermolite, Inc and more.

To learn more please visit: https://www.advanced-impact.com/

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.

Annexure

Summary of Key Terms of Agreement

The Manufacturing and Distribution Agreement is made between ClearVue Technologies Limited and Advanced Impact Technologies Inc. (EIN 82-3020929) of 2310 Starkey Road, Largo, Florida 33771, United States of America (AITI) on 13 July 2022 (Agreement).

Under the terms of the Agreement, AITI is appointed:

-          the exclusive manufacturer and distributor for supply within the US states of Florida and Massachusetts;  

-          granted sole rights (alongside ClearVue itself) to supply the ClearVue PV IGU and smart façade solutions within the other USA states (excluding Pennsylvania) and Canada;

-          is granted non-exclusive rights to supply ClearVue (acting as an OEM manufacturer for ClearVue) for sale of products by ClearVue outside of Florida and Massachusetts (but excluding Pennsylvania) and Canada.

-          Key terms of the Manufacturing and Distribution Agreement include (amongst other things) that:  

-          The term of the License will be 2 years – with the intent that from 12 months on the Parties are to work towards establishing a joint venture or other collaboration arrangement;  

-          The licence includes a licence to use the ClearVue branding such that products to be sold during the term of the licence are to bear ClearVue’s US trade marks;

-          Protection and ownership of intellectual property - ownership of improvements to ClearVue core IP to be owned by ClearVue, improvements to AITI core IP to be owned by AITI, new combined IP to be owned jointly but to be assigned to the joint venture from inception;

-          Typical confidentiality obligations;

-          ClearVue having the right to novate the Agreement at its convenience to its 100% controlled Delaware subsidiary ClearVue USA Inc. LLC; and

-          Dispute resolution via mediation followed by arbitration to be conducted in Delaware. Australian law to apply. Delaware law to apply after novation;  

-          other terms typical of both a manufacturing and distribution licence and an OEM manufacturing agreement.