ClearVue Technologies (ASX:CPV) signed a collaboration agreement with Sinrok Solar Energy to establish a new strategic partnership to distribute and deploy its solar glazing technologies in South Korea, according to a Monday Australian bourse filing.
The South Korean energy firm will become the non-exclusive distributor of the solar glazing technologies in the general building, construction, and greenhouse in the country, as well as the exclusive distributor for use in solar fencing and road barrier applications.
The firms intend to formalize a distribution agreement in the coming months, which will include detailed commercial terms, product support, and sharing of local certification responsibilities.
Sinrok was also appointed as ClearVue's exclusive partner for securing the development and delivery of the Bara factories expansion project, being undertaken by Bara, a unit of the Dongjin Group, located in Chungcheongbuk Province in South Korea. The expansion will increase the factory floor area by 25,470 square meters at a total construction cost of around $19 million.
ClearVue Technologies' shares jumped almost 3% in recent trading on Monday but earlier reached their lowest since June 2023.
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