ClearVue Technologies (ASX:CPV) has entered the Middle East, North Africa and Indian markets via a Manufacturing and Distribution agreement with Aluminium Technology Auxiliary Industries WLL (Alutec). This agreement with Alutec 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.
- ClearVue enters the Middle East and Indian construction markets by signing an agreement with Alutec, Qatar’s largest glass processor and façade manufacturer and a group company under Aria Holding.
- Five-year agreement consists of manufacturing and distribution partnership for ClearVuePV unique Solar Glazing and Insulated Glass Units in Alutec’s key markets.
- Opens access to the construction sector in Qatar, UAE, and Saudi Arabia, which is projected to reach US$240 billion by 2029, and for the Indian construction sector, it is expected to reach $1.4 trillion by 2025.
Commenting on the agreement, Martin Deil, Global CEO of ClearVue, said: “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. 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 decarbonization mandates.”
Read the ASX announcement here
ClearVue enters Middle East and Indian construction markets with Alutec, Qatar’s largest glass and façade manufacturer
HIGHLIGHTS
- ClearVue enters the Middle East and Indian construction markets by signing an agreement with Alutec, Qatar’s largest glass processor and façade manufacturer and a group company under Aria Holding.
- Five-year agreement consists of manufacturing and distribution partnership for ClearVuePV unique Solar Glazing and Insulated Glass Units (IGUs) in Alutec’s key markets.
- Opens access to construction sector in Qatar, UAE, and Saudi Arabia, that is projected to reach US$240 billion by 2029, and for the Indian construction sector, it is expected to reach $1.4 Tn by 2025.
1 August 2024: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) enters 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 Chief Executive Officer (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.
Commenting on the agreement, Martin Deil, Global CEO of ClearVue, said: “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. “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 decarbonization mandates.