ClearVue Technologies Limited (ASX: CPV), a company known for its advanced solar glazing technologies, has announced a strategic partnership with Sinrok Solar Energy Co, Ltd, a prominent South Korean solar energy firm.
This collaboration aims to expand ClearVue’s presence in South Korea by leveraging Sinrok’s expertise and distribution network within the construction, building, and greenhouse sectors, ClearVue said in an ASX announcement.
Under the terms of the agreement, Sinrok will act as the non-exclusive distributor for ClearVue’s solar glazing solutions across these sectors, while gaining exclusive rights to distribute these technologies for solar fencing and road barrier applications.
Additionally, Sinrok has been appointed as the exclusive partner for the Bara Factories Expansion Project, an initiative by Bara Company, a subsidiary of the Dongjin Group, which is set to expand a key industrial site in Eumseong, Chungcheongbuk Province, by 25,470 square meters at an estimated cost of USD 19 million.
ClearVue’s CEO, Martin Deil, expressed the significance of this agreement as a key milestone in the company’s global growth strategy.
“South Korea represents a dynamic and forward-thinking market for green construction and renewable technologies,” Deil said.
“Through our collaboration on the Bara Factories Project, we will not only showcase our building-integrated solar technologies at scale but also establish a trusted local alliance with Sinrok to further accelerate our presence in South Korea.”
The collaboration arrives at a time when South Korea is making substantial investments in its national Smart Factory initiative, which focuses on modernising manufacturing with Industry 4.0 technologies such as IoT, AI, and clean energy solutions.
ClearVue’s solar glazing technologies align with these goals by enabling factories to generate their own renewable power and meet energy efficiency and Environmental, Social, and Governance (ESG) standards.
Sinrok’s Chairman and Founder, Daeseok Kim, highlighted the potential of the partnership, stating, “We are proud to partner with ClearVue, a global leader in solar-integrated glass technology.
This collaboration brings world-class innovation to South Korea’s construction and infrastructure sectors at a time when ESG and renewable energy adoption are accelerating in our region.”
Both parties have indicated that a formal Distribution Agreement will be signed in the coming months, which will outline commercial terms and product support.
In the interim, Sinrok will begin work on securing the Bara Factories Expansion Project and engaging with potential customers across South Korea.
