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- Smart building materials company ClearVue Technologies (CPV) has signed a term sheet with eLstar Dynamics
- Based in the Netherlands, eLstar develops and industrialises smart glass applications in the building and transport industries
- The signing of the term sheet follows ClearVue’s previous announcement revealing it had signed a collaboration agreement with eLstar
- The agreement laid out the terms for the promotion, distribution and development of a smart window using ClearVue’s photovoltaic (PV) technology and eLstar’s dynamic glazing solution
- A trial successfully confirmed the practicality of using ClearVue’s technology to power and operate eLstar’s solution
- Due to the success of the collaboration agreement and the signing of a term sheet, ClearVue and eLstar will form a 50:50 joint venture in the Netherlands
- Each company will licence its technology and intellectual property (IP) in respect of developing and commercialising the combined products
- ClearVue is trading in the grey at 59 cents
Smart building materials company ClearVue Technologies (CPV) has signed a term sheet with eLstar Dynamics.
Based in the Netherlands, eLstar develops and industrialises smart glass applications in the building and transport industries.
The company is aiming to create a wireless smart window that is capable of energy production and lighting control.
The signing of the term sheet follows ClearVue’s previous announcement revealing it had signed a collaboration agreement with eLstar.
This collaboration agreement laid out the terms for the promotion, distribution and development of a smart window using ClearVue’s photovoltaic (PV) technology and eLstar’s dynamic glazing solution.
Pleasingly, a trial successfully confirmed the practicality of using ClearVue’s technology to power and operate eLstar’s glazing solution.
CEO of eLstar Anthony Slack said: “The idea that we can combine technologies with such enormous long-term potential to address the ecological efficiency of both existing and future building stock is, to say the least, compelling.
“We believe the combination of our two technologies together could well advance the environmental contribution of a wide range of applications by years.”
Due to the success of the collaboration agreement and the signing of a term sheet, ClearVue and eLstar will form a 50:50 joint venture in the Netherlands.
Each company will licence its technology and intellectual property (IP) in respect of developing and commercialising the combined products.
“ClearVue is very pleased to be working with eLstar Dynamics in what both companies believe will create a game changing solution and new product category,” ClearVue Executive Chairman Victor Rosenberg commented.
Updates will continue to be made as the joint venture establishes and work progresses.
ClearVue is is trading in the grey at 59 cents at 12:35 am AEST.
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