ClearVue Technologies Limited: Strategic alliance with AI Farming Consortium on Greenhouses
HIGHLIGHTS
- ClearVue has entered a three-way strategic alliance by signing a non-exclusive Collaboration Agreement with data-powered farming specialist, Produsense, and artificial intelligence (AI) real-time presence analytics specialist, Foresense
- Collaboration is focused on solar greenhouse projects deploying solar PV electricity generating window technology, machine learning and AI management and control systems, otherwise known as ‘smart greenhouses’
- The collaborators intend to secure a project within 12 months that’s capable of demonstrating the various technologies of the three Companies working together
- Subject to a successful trial, the three Companies will explore joint venture or other arrangements
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 three way Collaboration Agreement with Foresense Technologies Limited (Foresense) and Produsense Pty Ltd (Produsense).
The Collaboration Agreement will see all parties focused on offering a data-driven solar PV powered ‘smart greenhouse’ centred on ClearVue’s electricity generating glazing technology. The smart greenhouse will combine the knowledge, skills, IP and marketing of the three companies into one product offering for the protected cropping agriculture market in Australia and globally.
Produsense (partially owned by Foresense) provides agri-tech solutions for data-powered farming to reduce food wastage and increase shelf life, crop yields and food safety at all stages in the production, cold storage, transport and delivery of produce. The Produsense team have extensive experience and global networks in agriculture and protected cropping including wide acre farming, produce logistics and distribution, and produce retailing.
Foresense is a software and hardware developer specialising in real-time presence analytics utilising proprietary hardware, machine learning and artificial intelligence to collect and analyse behavioural trends and act on this data in real-time.
The collaboration agreement follows ClearVue signing a Technology Development Agreement with Foresense Technologies Limited for the further development of its smart façade controller hardware and software.
The Collaboration Agreement sets out the terms for collaboration in the area of intelligent solar PV greenhouses including, but not limited to:
- during the first 12 months of the agreement, collaborate jointly on at least one commercial greenhouse project where the technology, skills and IP of each party will be collectively brought to bear in such a project (Trial Project);
- subject to the success of the Trial Project, the Parties will engage in discussions for the purposes of establishing a joint venture or other arrangement where the Parties’ products and technologies are combined into one final packaged end-product smart greenhouse, that the Parties will then promote together.
Key terms of the Collaboration Agreement are outlined in the Annexure to this release.
Victor Rosenberg, Executive Chairman of ClearVue, commented:
“Produsense’s CEO Mr Adam Leslie is an experienced leader in ‘data-powered farming’ having over 31 years of experience in all aspects of farming, food supply and produce distribution, and he brings a wealth of knowledge and deep networks of the produce growing supply chain to this collaboration. The Foresense team brings extensive experience in machine learning, AI, sensors, and Internet of Things (IoT) to the collaboration. We are very pleased to be working with both teams to explore the opportunity for smart greenhouses - intelligent data-driven greenhouses that utilise ClearVue’s PV glazing with the added smarts of the Foresense and Produsense technologies. The aim is to provide an optimum growing environment with highly controlled temperature ranges and power generation for greenhouse operations delivered with the ClearVue PV glazing which, when combined with the Foresense and Produsense solutions, seeks to further refine the environmental control and management of greenhouses to optimise growth, yields, harvesting times, energy use and water use.”
Adam Leslie, CEO of Produsense said:
“By working with ClearVue, the Produsense and Foresense teams seek to demonstrate the world’s smartest sustainable greenhouse for commercial production of greenhouse grown agricultural produce via collaboration across the three companies. Global food production is already heading towards a connectivity-fuelled transformation – with improved data, increased crop yields are an expected given and that is where the Produsense and Foresense technologies come into play: data-driven growing with a goal of 95% accuracy with smart technologies and clever data science. ClearVue’s solar PV glazing offering when combined with these benefits makes perfect sense – the ClearVue product reduces the energy use within the greenhouse, reduces water needs for the plants and creates an environment with little-to-no need for pesticides. The power generated by the glass is deployed to operate our smart control systems and operational control mechanisms of the greenhouse. We believe the technologies are all complementary and our respective businesses are aligned to take on this rapidly growing opportunity – we are looking forward to seeing where this collaboration can take us.”
The Company looks forward to updating the market on progress towards the trial and the collaboration in due course.
The Company does not consider that the Collaboration Agreement will be immediately financially material. As there are no minimum order or other financial commitments stipulated by the Agreement, it is not possible to quantify the value of the agreement over its life.
Authorised by the Board of ClearVue Technologies Limited.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ClearVue Technologies Limited
Mr Victor Rosenberg
Executive Chairman
+61 8 9220 9020
Citadel-MAGNUS
Michael Weir / Russell Quinn
0402 347 032 / 0403 322 097
ABOUT CLEARVUE TECHNOLOGIES LIMITED
ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.
ClearVue’s electricity generating glazing technology is strategically positioned to compliment and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.
Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU.
ClearVue’s window technology has application for use in the building and construction and agricultural industries (amongst others).
ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.
To learn more please visit: www.clearvuepv.com
ABOUT PRODUSENSE
Produsense enables the entire food supply chain – from farmers to suppliers, right through to retailers and consumers – to produce and deliver “more with less”. The Produsense technology is a leading-edge example of data-powered farming to reduce food wastage and increase shelf life, crop yields and food safety at all stages in production, cold storage, transport, and delivery on a global scale.
For learn more visit www.produsense.com
Produsense Pty Ltd
Adam Leslie, CEO 0452 643 100
ABOUT FORSENSE TECHNOLOGIES LIMITED
Foresense Technologies is a disruptive innovator in real-time presence analytics utilising proprietary hardware and artificial intelligence to collect, analyse and act on real-time data. Their AI software system drives the analytical power to provide behavioural trends, accessed via a user-friendly graphical user interface.
To learn more visit www.foresense.com
Foresense Technologies Limited
Glenn Weiland, CEO 0437 775 860
FORWARD LOOKING STATEMENTS
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ClearVue Technologies Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
Annexure
Summary of Key Terms of Agreement
The Collaboration Agreement is made between ClearVue Technologies Limited, Foresense Technologies Limited (ACN 167 321 888) of 37 St George’s Terrace, Perth, Western Australia 6000 (Foresense) and Produsense Pty Ltd (ACN 648 692 022) of Unit 3, 27 Leeds Street, Rhodes, New South Wales 2138 (Produsense) on 5 December 2021 (Agreement).
Under the terms of the Agreement:
- the Parties to assist one another with promotion and sales in the Territory (the World) of a combined greenhouse solution during the Term (2 years from signing) that uses or deploys ClearVue’s technologies and products, Foresense’s technologies, and Produsense’s technologies (or any combination);
- the Parties are to collaborate non-exclusively in the Territory (the World) during the Term regarding development, supply and integration of smart greenhouses using ClearVue’s Technologies (being building integrated photovoltaic glass and windows), the ClearVue Products and solutions along with the Foresense technologies and Produsense technologies;
- the Parties are to work together, leverage contacts and networks, provide their technical and sales support staff to the collaboration, complete the Trial Project and share available data and learnings from the Trial Project;
- the Parties to share the Trial Project for customer demonstration and display purposes;
- subject to satisfactory performance of the Trial Project and compliance with the Agreement generally seek to extend the collaboration into a joint venture with discussions on the same to have commenced within 18 months of execution and before expiry of the Agreement;
- Protection and ownership of improvements to ClearVue core IP made during the collaboration to be owned by ClearVue – improvements to core IP of Foresense and Produsense to be owned by Produsense;
- Typical confidentiality obligations apply;
- Dispute resolution via negotiation followed by mediation followed by arbitration to be conducted through the Australian Disputes Centre;
- Laws of Western Australia apply to the Agreement with exclusive jurisdiction sitting with WA courts;
- Agreement expires after 2 years or by earlier termination for material breach (immediate termination) or for non-material breaches that have not been remedied, for illegality, for an insolvency event or for a force majeure event continuing for 28 days or longer;
- the Agreement may be extended by written agreement;
- other terms typical of a collaboration agreement of this nature are included.
ENDS.
