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ClearVue (ASX:CPV) on Thursday flagged its acquisition of an Agritech company it hopes to combine with its solar panel glass in greenhouses.
That expansion comes by way of ClearVue’s acquisition of the IP and assets of a company called ROOTS Sustainable Agricultural Technologies (with the deal managed via 100% owned Israeli subsidiary OptiCrop Israel).
ROOTS offers temperature optimisation and “irrigation by condensation technologies” which serve to boost emissions profiles of farm operators. ClearVue wants to integrate its solar-power-harvesting glass, and ROOTS’ existing tech, into a combined greenhouse offering.
“We first began engaging with ROOTS in 2019, but COVID put our planned collaboration on hold… the timing is now right,” ClearVue CEO Martin Deil said.
“ClearVue’s technology has already demonstrated material yield improvements on certain crop types grown inside its Murdoch University research greenhouse.
‘ROOTS’ unique root temperature optimisation and irrigation technologies when combined with our advanced solar glazing solutions creates a comprehensive suite of agricultural solutions.”
The news pushed shares up towards 7% out the gate in Thursday morning trades and comes not long after the photovoltaic glass company struck a deal with a U.K. company that works in heated glass.
The stock is an interesting one and often generates interest by way of its nature at the intersection of construction and ESG.
The company wants to see buildings using its glass that generates energy from solar power such that buildings can boost their emissions profiles by making, say, central heating and HVAC powered by on-site generation.
After expanding to (or beginning to target) Indian and Middle Eastern markets in relatively recent history, the company is now looking to expand into Agritech, too – apparently this has long been an ambition – representing a strategic venture which shareholders will have to wait to find out the effectiveness of.
CPV last traded at 28cps.
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