- ClearVue has formed a three-way strategic alliance; To this end, the company signed a non-exclusive cooperation agreement with Produsense, a specialist in data-driven agriculture, and Foresense, an expert in real-time presence analytics and artificial intelligence (AI).
- The cooperation focuses on solar greenhouse projects using solar energy-producing window technology, machine learning and AI management and control systems in so-called smart greenhouses.
- The collaborating partners intend to launch a project within 12 months to demonstrate the different technologies of the three collaborating companies.
- Subject to a successful trial, the three companies will review a joint venture or other arrangement.6. December 2021: Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to announce that it has entered into a tripartite collaboration agreement with Foresense Technologies Limited (Foresense) and Produsense Pty Ltd (Produsense ) has been received.
Under the terms of the collaboration agreement, all parties will focus on offering a data-driven, solar-powered smart greenhouse, centered on ClearVue's power-generating glazing technology. The Smart Greenhouse will combine the knowledge, skills, intellectual property (IP) and marketing of the three companies into one product offering for the Australian and global greenhouse market.
Produsense (partly owned by Foresense) provides agrotechnical solutions for data-driven farming to reduce food waste and increase shelf life, crop yields and food safety at all stages of produce production, cold storage, transportation and delivery . The Produsense team has extensive experience and worldwide networks in the agriculture and glasshouse cultivation sectors, including large-scale cultivation, logistics, distribution and retailing of agricultural produce.
Foresense is a software and hardware development specialist specializing in real-time presence analytics, using proprietary hardware, machine learning and artificial intelligence to collect and analyze behavioral trends and act on that data in real-time.
Prior to the collaboration agreement, ClearVue has already signed a technology development agreement with Foresense Technologies Limited for the further development of its smart facade control hardware and software.
The Cooperation Agreement sets out the terms for cooperation in the field of smart solar energy greenhouses, including:
- Collaborate on at least one commercial greenhouse project, combining each party's technology, skills and intellectual property (pilot project), during the first 12 months of the Agreement;
- subject to the success of the pilot, the parties are entering into discussions to determine the purposes of establishing a joint venture or other arrangement under which the parties' products and technologies will be combined into a final common end product, a smart greenhouse, which the parties then promote together.
The main provisions of the cooperation agreement are set out in the annex to this press release.
Victor Rosenberg, Executive Chairman of ClearVue, commented:
Adam Leslie, CEO of Produsense, is experienced and a leader in data-driven farming; he has more than 31 years of experience in all aspects of agriculture, food supply and distribution of agricultural products and brings to this cooperation enormous know-how and extensive networks in the agricultural supply chain. The Foresense team brings extensive experience in machine learning, AI, sensors and the Internet of Things (IoT) to the agreement. We are excited to be working with both teams to explore the opportunities of smart greenhouses - intelligent data-driven greenhouses utilizing ClearVue's PV glazing combined with the technological expertise of Foresense and Produsense. The goal is to create an optimal growing environment with highly controlled temperature ranges and power generation for greenhouse operations through ClearVue PV glazing, which in combination with Foresense and Produsense solutions should provide a further refinement of environmental monitoring and management of greenhouses. to optimize growth, yields, harvest times, energy and water consumption.
Adam Leslie, CEO of Produsense, stated:
By working with ClearVue, the Produsense and Foresense teams aim to create the world's smartest sustainable greenhouse for the commercial production of glass-grown produce develop through a collaboration of the three companies. Global food production is already poised to be transformed by connectivity - enhanced data can lead to increased crop yields, and this is where Produsense and Foresense technologies come into play: data-driven farming with a target of 95% accuracy with smart technologies and intelligent data science. ClearVue's PV solar glazing is perfect when combined with these benefits: ClearVue's product reduces greenhouse energy consumption, reduces crop water requirements and creates an environment where little or no pesticides are needed. The electricity generated by the glass is used to operate our smart control systems and the operational control mechanisms of the greenhouse. We believe that the technologies are all complementary and that our respective companies are well positioned to seize this rapidly growing opportunity - we are very excited to see where this collaboration will take us.
The company will update the market on the progress of the pilot and the collaboration in due course.
The Company does not anticipate that the Collaboration Agreement will have an immediate significant financial impact. As the agreement does not specify a minimum order quantity or any other financial obligation, it is not possible to quantify the value of the agreement over its term.
Authorized by the Board of ClearVue Technologies Limited.
For more information, contact:
ClearVue Technologies Limited
Mr. Victor Rosenberg
+61 8 9220 9020
Michael Weir / Russell Quinn
0402 347 032 / 0412 415573
About ClearVue Technologies Limited
ClearVue Technologies Limited (ASX: CPV) is an Australian technology company in the Building Integrated Photovoltaic (BIPV) space. This includes the integration of solar technology into building surfaces, especially windows and building facades, to provide renewable energy. ClearVue has developed advanced glazing technology that preserves the transparency of glass to maintain building aesthetics while generating electricity.
ClearVue's power-generating glazing technology is strategically positioned to complement and enhance the appeal of the increased use of energy-efficient windows that is now mandatory in response to global climate change and associated energy efficiency targets.
The solar cells/PV modules are integrated into the edges of the insulating glass panes used for windows; the interlayer lamination between the glass in the insulating glass pane contains ClearVue's patent-protected nano- and microparticles and a spectrally selective coating on the rear outer surface of the insulating glass pane.
ClearVue's window technology is suitable (amongst others) for use in the construction and agricultural industries.
ClearVue is working closely with leading experts from the Electron Science Research Institute and Edith Cowan University (ECU) in Perth, Western Australia, to develop the technology.
See www.clearvuepv.com for more details.
Produsense helps the entire food supply chain - from farmers to suppliers to retailers and consumers - to produce and deliver more with less. Produsense's technology is an example of state-of-the-art, data-driven agriculture, reducing food waste and optimizing shelf life, crop yields and food safety at all stages of production, cold storage and delivery internationally.
For more information, please visit www.produsense.com
Produsense Pty Ltd
Adam Leslie, CEO 0452 643 100
ABOUT FORSENSE TECHNOLOGIES LIMITED
Foresense Technologies is a pioneering innovator in real-time presence analytics that uses proprietary hardware and artificial intelligence to collect, analyze and act on real-time data. The AI software system provides the analytical power to collect behavioral trends, accessible through an easy-to-use graphical user interface.
For more information, visit www.foresense.com
Foresense Technologies Limited
Glenn Weiland, CEO 0437 775 860
The statements contained in this press release, including but not limited to statements regarding possible or anticipated future performance, earnings, costs, dividends, production levels or outputs, prices or potential growth of ClearVue Technologies Limited are forward-looking Statements or may be forward-looking statements. These statements relate to future events and expectations and are therefore subject to known and unknown risks and uncertainties. Actual results and developments could differ materially from those projected in these forward-looking statements due to a variety of factors.
The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German language version can be shortened or summarized. No responsibility or liability is accepted for the content, correctness, adequacy or accuracy of this translation. From the translator's point of view, the report does not constitute a buy or sell recommendation! Please note the original English notification on www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company website!
Summary of Key Terms of the Agreement
The Collaboration Agreement was signed on 5 December 2021 between ClearVue Technologies Limited, Foresense Technologies Limited (ACN 167 321 888) having their registered office at 37 St Georges Terrace, Perth, Western Australia 6000 (Foresense) and Produsense Pty Ltd (ACN 648 692 022) located at Unit 3, 27 Leeds Street, Rhodes, New South Wales 2138 (Produsense) (Agreement).
The terms of the agreement are as follows:
- The parties will assist each other in the promotion and distribution of a combined greenhouse solution in the contract territory (worldwide) during the term (two years from signing) in which ClearVue's technologies and products, Foresense's technologies and Produsense's technologies (or any combination) are used or deployed.
- The parties will, during the Term, in Territory (worldwide) for the design, delivery and integration of smart greenhouses utilizing ClearVue's technologies (building-integrated photovoltaic glazing and windows), products and solutions from ClearVue and the technologies of Foresense and Produsense do not exclusively work together.
- The parties will work together, using their contacts and networks, making their technical and sales staff available for the cooperation, implementing the pilot project and exchanging available data and lessons learned from the pilot project.
- The parties will make the pilot project available to customers for demonstration and exhibition purposes.
- Subject to satisfactory results of the pilot project and general compliance with the agreement, the cooperation is to be developed into a joint venture with discussions to begin within 18 months of signature and prior to the expiration of the agreement.
- Protection and Ownership: Improvements to ClearVue's core IP during the collaboration become the property of ClearVue - Improvements to the core IP of Foresense and Produsense become the property of Produsense.
- Standard confidentiality obligations apply.
- Dispute resolution by negotiation followed by conciliation followed by arbitration to be conducted through the Australian Disputes Centre.
- The Agreement will be governed by the laws of Western Australia with exclusive jurisdiction of the courts of WA.
- The Agreement shall terminate after two years or earlier upon termination for a material breach (immediate termination) or a non-material breach not cured, or upon termination for illegality, bankruptcy or acts of God that last 28 days or more stops.
- The agreement can be extended by written agreement.
- It also contains other provisions that are customary for a cooperation agreement of this type.
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