ClearVue Technologies Ltd (ASX:CPV, OTCQB:CVUEF) has garnered its first commercial contract in the United States, tapping into a market for global solar greenhouse glass that is valued at US$7.5 billion and expanding at a 7.2% compound annual growth rate.
The order, worth around A$252,000, was placed by Greenhouse System USA Inc, a leader in green housing solutions based in Watsonville, California.
The contract entails the provision of ClearVue's clear solar glass for greenhouses, enabling Green House System’s existing structure to generate some 82 kilowatts (kW) of solar power and produce an estimated 107,000 kilowatt-hours (kWh) annually.
Furthermore, the project will be eligible for incentives under the US Inflation Reduction Act, thereby lowering operational costs and minimising the facility's carbon footprint.
Greenhouse System is currently in talks with ClearVue to become a distributor in the US for greenhouses.
Growing global need
ClearVue Global CEO Martin Deil said: “Greenhouses have been an integral part of our strategy from day one as we understood the growing global need for renewable energy solutions for sustainable agriculture.
“Importantly, this new order validates our strategy for targeting the US-protected cropping agriculture market and opens an opportunity in global solar greenhouse glass currently worth US$7.5 billion per year and growing.
“We are thrilled the partnership is with System USA, a company setting the modern global standard for excellence in efficient greenhouse facilities.
“We look forward to an ongoing relationship with System USA as we progress discussions for them to become our US-based distributor.
“The increasing demand for renewable energy in agriculture is bolstered by government incentives including the US Inflation Reduction Act as well as a consumer push for sustainability, and ClearVue and System USA are excited to deliver our solutions to the agricultural sector.
“This project builds on the considerable success we’ve had with previous solar greenhouse projects, including the Murdoch University R&D Greenhouse in Perth, operational since 20213, as well as the greenhouse constructed at Sendai Ignis resort in Japan by ClearVue licensee Tomita Technologies.”
Seamless integration
ClearVue’s single-glazing laminate will be seamlessly integrated into System USA’s existing greenhouse structure providing approximately 82 kW of solar power and producing an estimated 107,000 kWh per year.
This clean, renewable power project will be eligible for incentives created by the Inflation Reduction Act lowering annual operating costs and reducing the facility’s carbon footprint.
Importantly, this initiative uses ClearVue’s innovative single-glazing laminate developed by ClearVue in conjunction with research partner D2Solar in California since 2021.