Why the ClearVue (ASX:CPV) share price is up 11% today

The ClearVue share price is currently trading nearly 11% higher as the company announced details of a record order out of Brazil.

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The ClearVue Technologies Ltd (ASX: CPV) share price is currently trading higher after the company announced it has received a large order for 500sq m of its product. As a result of the news, the ClearVue share price has surged 10.71% higher to 31 cents at the time of writing.

What ClearVue does

ClearVue is an Aussie tech company focused on the integration of solar technology into building surfaces, specifically glass and building facades, to provide renewable energy. It has developed advanced glass technology that aims to preserve the transparency  and aesthetics of the glass whilst generating electricity at the same time. ClearVue worked closely with experts from Edith Cowan University in Perth, Western Australia to develop the technology, which has been used across the building, construction and agricultural industries. 

ClearVue share price rising on record order

The ClearVue share price is surging as the company announced it has received its first order out of South America from local company, AMB Brasil. AMB Brasil has been appointed the exclusive ClearVue distributor in Brazil.

This first order is for 500sq m of ClearVue product, worth approximately $278,700. The order represents ClearVue's largest order to date and reinforces proof of product for the company's technology.

Product to fulfil the order will be produced through ClearVue's manufacturers in China and will ship in early 2021 for installation into a number of projects being undertaken by AMB Brasil. The first of these projects is a commercial office tower, which will use roughly 250sq m of the product.

Commenting on ClearVue's first South American order and the appointment of its new Brazilian distributor, ClearVue CEO, Ken Jagger, said:

AMB Brasil's upcoming high-rise deployments of ClearVue technology is a perfect fit for our target market. A very near-term showcase retrofit, two commercial towers and further deployment opportunities within the wider AMB Brasil development site(s) represents a sensational example of environmentally focused high-rise construction globally. We are very much looking forward to a successful future with AMB Brasil as ClearVue's Brazilian sales partner in this key South American territory.

What now for the ClearVue share price?

With the appointment of AMB Brasil as a ClearVue distributor, the Aussie tech company adds to a growing list of global distributors and manufacturers of its technology. Shareholders will be encouraged by the fact the company is continuing to expand its reach abroad.

The ClearVue share price is currently trading a huge 63% higher so far this year.

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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