Verditek Business Update

RNS Number : 9923A

Verditek PLC

28 January 2020

 

 28 January 2020

Verditek PLC

("Verditek" or the "Company")

Verditek Business Update

Verditek plc, (AIM:VDTK) the clean technology company is pleased to announce the appointment of Ravinder Shan as our Chief Sales and Communications officer. Ravinder joined Verditek as a consultant with over 25 years of experience with start-ups, including a decade in solar, having successfully completed projects in the UK, USA, EU and India. With Ravinder's appointment now as CSO Verditek has refocused our sales strategy to develop vertical commercial solutions for our key markets. The work done in 2019 with our sales team has identified many material applications for our lightweight low-profile solar panels to provide renewable energy where it was previously impossible.

We are currently engaged in trials to confirm performance of our integrated solutions and thereafter convert into sales. Our new opportunities and partnerships include,

·    developing a solar-carport solution for a leading, multinational fast food retail chain (2019 global top 3 by brand value); 

·     trials of our modules are underway with one of the largest global equipment suppliers for remote and off-grid telecommunication towers;

·     Page Hardy Harris are working with us and clients to offer our solar solution for industrial rooftops;

·    a framework agreement with XNRGI, our next generation lithium metal battery partner, to develop our manufacturing capacity to deliver commercial packages in India;

·   a distribution agreement with Softmetal to prove and sell PV transport solutions for perishable goods vehicles;

·     working with a top-tier roofing tile firm to trial integrated solar tiles for housing projects; and

·   a collaboration agreement in place with Careavan, the UK holiday home company, to showcase our products at 11 motorhome shows and sell our products into their refurbishment business.

Dr Geoff Nesbitt, CEO of Verditek, commented: "It has been many months of work to establish the right fit in relationships that will drive our partnerships forward for years to come, but I am happy with the progress we made on this front. 2020 will be a time to harvest the results of our collaborations."

Enquiries:

Verditek plc

RH Lord David Willetts FRS (Non-Executive Chairman)                                   [phone]

Dr Geoff Nesbitt (Chief Executive Officer)                                                         [e-mail]

WH Ireland Limited (NOMAD and Broker)

Chris Hardie (Director, Corporate Finance)                                                       [phone]  

             [e-mail]

About Verditek plc

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company is focused on commercializing our lightweight low-profile solar panel business. With manufacturing based in Lainate Italy, we have developed renewable power solutions for our customers, that drive solar energy into applications previously impossible. The exceptional properties of our solar panels replace diesel fuel in business such as perishable goods transport, off-grid telecommunication towers, electric vehicle charging stations, residential and holiday home power solutions and solar roofing for light-weight industrial roofing.

In addition to our current PV panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf, and have created the worlds' first Graphene Integrated Photo Voltaic cell. We are working together to engineer the technology for commercialization.

Verditek provides compelling commercial solutions that make our customers business sustainable.

For more information please visit or contact the following: https://www.verditek.plc.uk/

 

END

 

 

UPDDZGZMLNLGGZG