ClearVue Technologies (ASX: $CPV) expansion into Middle East and Indian construction markets

On 1 August 2024, ClearVue Technologies Limited (ASX: $CPV) announced its entry into the Middle East and North Africa (MENA) and Indian markets through 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 five-year agreement with Alutec involves manufacturing and distribution partnership for ClearVue unique Solar Glazing and Insulated Glass Units (IGUs) in Alutec's key markets, providing access to the construction sector in Qatar, UAE, and Saudi Arabia, projected to reach US$240 billion by 2029, and the Indian construction sector, expected to reach $1.4 Tn by 2025.

Executive commentary on the agreement

Martin Deil, Global CEO of ClearVue, expressed excitement about the agreement, emphasizing its alignment with the company's growth strategy to partner with key manufacturers in strategic target markets. He highlighted the significance of Alutec's understanding of ClearVue's unique technology for builders and building owners across the Middle East and India, particularly in the context of sustainable smart cities and incoming construction decarbonization mandates. John Douglas, Alutec Pre-Construction Director, emphasized the region's focus on renewable solutions to meet growing energy needs and the key role ClearVue's technology plays in transforming buildings into renewable energy hubs.

Summary of ClearVue's expansion and outlook

ClearVue Technologies' agreement with Alutec marks a significant expansion into the Middle East and Indian construction markets, providing access to sectors with substantial growth projections. The company's unique Solar Glazing and Insulated Glass Units (IGUs) are set to revolutionize the construction industry by offering significant environmental benefits and supporting ambitious sustainability targets. With the combined construction sector in Saudi Arabia, UAE, and Qatar projected to reach US$240 billion by 2029 and India's construction sector rapidly growing, ClearVue is well-positioned to capitalize on these expanding markets. The partnership with Alutec and the upcoming agreement with Dune Trading LLC in the United Arab Emirates demonstrate ClearVue's commitment to strategic expansion and collaboration with key industry players. This move aligns with ClearVue's ambitions to provide sustainable solutions and contribute to the transformation of buildings into renewable energy hubs, supporting the global shift towards energy efficiency and sustainability.