Smart building-material company ClearVue Technologies (ASX: CPV) has revealed it has signed a memorandum of understanding (MoU) with Global Smart Cities and that both entities are already looking at harnessing ClearVue’s technology into creating “advanced outdoor applications”.
On numerous occasions in the past, the company has stated it remains focused on establishing “a network of trials and partnerships” to further expand the reach of its solar glass technology.
Today’s agreement is another signpost of the company’s advance towards growing its customer base and wider proliferation of its technology.
Global Smart Cities intends to utilise ClearVue’s technology in supporting its yStop brand, a company that develops and sells street furniture items such as bus shelters, bins, advertising panels and street signs.
According to ClearVue, the MoU agreement provides the basis upon which the duo plan to work together “to introduce and incorporate ClearVue’s solar glass solutions into yStop’s street furniture and signs.”
The MoU with yStop represents ClearVue’s second interaction in the public amenities space, following a small initial trial on a bus shelter in Port Melbourne, Australia, operated by “out-of-home media company” Adshel.
Furthermore, in July this year, ClearVue received the required authorisation to commercialise Australia’s solar market – an achievement its CEO described as “a giant leap forward for the company” at the time, and one that reportedly shifted ClearVue from being a research company into a commercial operation that can monetise its advanced technology.
Dealing in aesthetics
For the time being, yStop plans to enter into a “formal exclusive license agreement” with ClearVue in the foreseeable future but has confirmed that the full terms of the deal have yet to be agreed.
A formal deal is likely to be signed if Global Smart Cities deems the trial to be successful over the coming weeks.
If formally agreed, the exclusive license agreement could potentially propel yStop to becoming the exclusive Western Australian distributor for Clearvue integrated street furniture and the exclusive Australian distributor for ClearVue integrated Link and illuminated street signs.
According to yStop, it has developed a proprietary “combined street sign and advertising panel that incorporates large illuminated aerial signage”.
An important feature set offered by ClearVue’s technology is the ability to integrate advanced digital tools and manufacturing techniques to enable useful functionality.
yStop’s street furniture suite includes a range of digital technologies such as waste sensors for street bins, lighting and sound capability, environmental sensors, public Wi-Fi, real-time direction, localised advertising apps and digital dashboards.
“The MoU between ClearVue and yStop represents our first collaboration opportunity where we will be able to demonstrate the versatility of the ClearVue technology and products. By integrating our solar glass with yStop’s illuminated street signs and advanced bus shelters, we will be able to demonstrate how ClearVue’s technologies can be deployed in situations where grid connectivity isn’t possible or is difficult, yet clear, well‐lit glass remains a requirement,” said Victor Rosenberg, executive chairman of ClearVue Technologies.
“Modern bus shelters require power, lighting, illuminated advertising, electronic display advertising and information screens – the ClearVue solution is a great fit for this,” Mr Rosenberg added.