Contract with SAF International update

RNS Number : 0296J

Verditek PLC

17 December 2020

 

Verditek PLC

("Verditek" or the "Company")

Contract with SAF International update

Verditek plc, (AIM:VDTK), the international clean technology company that develops, manufactures and sells certified lightweight solar panels,  has received notification from SAF International that the contract announced in August 2020 (RNS number: 2870V) has been delayed.

The reason for this is that SAF International's end user customer, the Sindh regional government, has been forced to divert their resources to manage the COVID-19 pandemic which has ravaged this region of Pakistan.

SAF International hope to recommence the order in 2021 and have confirmed that our initial order has been installed and is performing to their satisfaction.

Whilst Verditek has experienced similar delays from other prospects as a result of the second wave of COVID-19 and general economic uncertainty, the Board remains confident that a strong market exists for its products.

Enquiries:

Verditek plc       Rob Richards, CEO    Tim Bowen, CFO	Tel: [phone]
WH Ireland Limited - NOMAD and Broker	Tel: [phone]
Chris Hardie    Matthew Chan

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 unachievable. 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 help to make our customer's businesses sustainable.

For more information please visit or contact the following:  https://verditek.com/

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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