Verditek PLC Manufacturing Site reopened and Business Update (8796K)
27 Aprile 2020 - 08:00AM
UK Regulatory
TIDMVDTK
RNS Number : 8796K
Verditek PLC
27 April 2020
27April 2020
Verditek PLC
("Verditek" or the "Company")
Manufacturing Site reopened and Business Update
Verditek plc, (AIM:VDTK) the clean technology company is pleased
to announce continued progress with developing commercial
initiatives. Despite challenging conditions, our team remains
intensely engaged with several initiatives that promise to deliver
exciting progress applying our lightweight low-profile Solar PV
solutions.
Following our previous business update of 28 January 2020, we
are happy to report;
-- Our manufacturing site in Lainate Italy reopened on 6 April
2020 and commenced production. Our employees were self-isolating
during previous weeks in full compliance with the Italian
government directives and we are happy to report no virial symptoms
have been registered. We have permission to work and have access to
the government wage compensation program which is part of the "Cura
Italia" (Cure Italy) Decree signed on 17 March 2020. We will
balance our production rota to optimise the welfare of our staff
and the company.
-- We have agreed with Green Unit ( https://www.greenunit.co.uk/
) to integrate our lightweight solar technology into the curved
roof of their ARC buildings. The ARC buildings are a low-carbon
superbly insulated building that will now offer clients the option
of a solar roof which can enable the buildings to be sited in
locations where infrastructure and grid connections are limited.
The power solution will include battery storage and a bio-generator
so that the building will continue to be powered even in cloudy
conditions.
-- We have signed an agreement with Lux Optimeyes Energy lda of
Portugal to develop a lightweight PV panel manufacturing facility
at a site in Moura Portugal. The contract comprises a 10-year
licensing agreement in addition to the design, supply and
installation of a 10 MW/shift PV manufacturing line based on
Verditek Technology.
-- We have signed an agreement with Electric Assisted Vehicles
Limited ( https://www.eavcargo.com/ ) to commence a trial of our
lightweight low profile PV panels with their zero emission
lightweight commercial vehicles. Our PV panels will be integrated
into the electrical system to extend the range of the EAV vehicle.
Upon successful completion of the three-month trial our companies
will agree further collaboration to create renewable zero-emission
transport solutions.
-- We have signed an agreement for a paid-trial with IM
Efficiency, an innovative technology company focused on decreasing
emissions in conventional transport trucks and semi-trailers (
https://imefficiency.com/ ). Based in the Netherlands, IM
Efficiency have developed their SolarOnTop product range that is
proven to lower fuel consumption and bring sustainable energy for
heavy goods vehicles. Verditek and IM Efficiency have agreed to
trial our lightweight low profile PV technology to further improve
the performance of their products and reduce an already compelling
pay-back period of less than 3 years.
Dr Geoff Nesbitt, CEO of Verditek, commented: "Our sales team
has been working extremely hard to advance opportunities during
this challenging period and I am excited with the progress we have
booked. We continue to move forward and are preparing to ship
product from our factory. Our solar solutions continue to attract
parties that are interested in arranging trials in their market
(e.g. military, transport, recreational homes, commercial real
estate) which will be the subject of future updates."
Enquiries:
Verditek plc
RH Lord David Willetts FRS (Non-Executive Chairman) +44 (0) 20
7129 1110
Dr Geoff Nesbitt (Chief Executive Officer)
enquiries@verditek.plc.uk
WH Ireland Limited (NOMAD and Broker)
Chris Hardie (D irector, Corporate Finance) +44(0)207 220
1666
Chris.hardie@whirelandcb.com
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://verditek.com/
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END
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