ClearVue signs MOU with Grafsol for green building projects in Middle East
Smart building materials company ClearVue Technologies Limited has signed an MOU with Grafsol for exclusive distribution rights in the United Arab Emirates, Kuwait, Bahrain and Qatar and non-exclusive distribution rights in Saudi Arabia.
Grafsol General Trading LLC is an independent trading company in the business of importation and sale of green building products (amongst other things) in the United Arab Emirates (UAE) and has extensive contacts into the building industry and government agencies in the greater middle east region.
Under the terms of the non-binding MOU the Parties will work together to formalize a Distribution Licence as soon as possible with the expectation that this is completed and signed within 60 days of the MOU being signed but subject to satisfactory due diligence of Grafsol by ClearVue.
Commenting on the MOU, Executive Chairman Victor Rosenberg said: “This MOU represents a great opportunity for ClearVue to break into the Middle Eastern region. The initial licence will give ClearVue feet on the ground for sale and distribution into this very large market. Whilst we will initially sell product for distribution through Grafsol, the hope from both sides is that the relationship will quickly be extended to include manufacturing rights for this territory as well. The aim now for Grafsol will be to secure cornerstone demonstration projects where ClearVue’stechnology can best be deployed and displayed. Grafsol’s longer term vision is to use ClearVue glass to become a virtual power supplier in the region - demonstrating yet another way to exploit the ClearVue technology."
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.