ARKANSAS, Oct 30 (Future Headlines)- ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) has made its inaugural foray into the lucrative United States market, securing a substantial contract with Greenhouse System USA Inc, a premier provider of sustainable greenhouse solutions headquartered in Watsonville, California. This landmark contract aligns with the thriving global market for solar greenhouse glass, valued at approximately US$7.5 billion and experiencing an impressive compound annual growth rate of 7.2%.
The agreement between ClearVue Technologies and Greenhouse System USA marks a turning point for both companies and exemplifies the remarkable potential of integrating cutting-edge solar glass technology with the burgeoning agricultural sector.
The contract, valued at around A$252,000, centers on the supply of ClearVue’s innovative clear solar glass for greenhouse applications. This innovative technology will be integrated into Greenhouse System’s existing structures to harness solar energy, generating a substantial 82 kilowatts (kW) of solar power. This equates to an estimated annual energy production of 107,000 kilowatt-hours (kWh).
One notable advantage of this project is its eligibility for incentives under the US Inflation Reduction Act, a significant driver for reducing operational costs and minimizing the carbon footprint of the facility. This not only underscores the commitment to sustainability but also aligns with broader environmental goals and regulatory incentives.
Additionally, ClearVue Technologies is in discussions with Greenhouse System USA to establish a distributor partnership in the United States, potentially opening the door to a broader market for their innovative greenhouse solar glass solutions.
Martin Deil, ClearVue Global CEO, expressed enthusiasm for the project and highlighted the importance of targeting the US-protected cropping agriculture market. He stated: “This new order validates our strategy for targeting the US-protected cropping agriculture market and opens an opportunity in global solar greenhouse glass currently worth US$7.5 billion per year and growing.”
The integration of ClearVue’s single-glazing laminate into the Greenhouse System’s structures showcases the seamless and efficient utilization of renewable solar energy in the agricultural sector. This collaboration exemplifies the strong demand for clean and sustainable power solutions in agriculture, driven by government incentives, such as the US Inflation Reduction Act, and consumer demand for eco-friendly practices.
The project marks a significant milestone for ClearVue, reinforcing its expertise in developing renewable energy solutions that are highly adaptable and tailored to the needs of specific industries. Furthermore, this endeavor builds upon ClearVue’s prior successes in implementing solar greenhouse projects. One notable example is the Murdoch University R&D Greenhouse in Perth, which has been operational since 2013. The technology has also been utilized in greenhouse construction at the Sendai Ignis resort in Japan by ClearVue licensee Tomita Technologies.
The ClearVue single-glazing laminate technology is a result of intensive research and development efforts in collaboration with D2Solar in California. The progress made since 2021 underscores the potential of this innovative solution to revolutionize the solar energy landscape.
By embracing solar greenhouse glass technology, ClearVue Technologies is not only meeting the energy needs of the agricultural sector but also contributing to broader sustainability goals. As renewable energy continues to gain traction, particularly in agriculture, the partnership with Greenhouse System USA positions ClearVue as a leader in sustainable, energy-efficient solutions. This development is a significant step towards making solar energy a standard practice in greenhouses, further promoting environmental responsibility and resource efficiency in agriculture.
Writing by Kevin Wood; Editing by Sarah White