Verditek PLC MOU Signed with Net Zero Valley
15 Agosto 2023 - 1:00AM
RNS Non-Regulatory
TIDMVDTK
Verditek PLC
15 August 2023
Reach
Verditek PLC
("Verditek" or the "Company")
MOU Signed with Net Zero Valley
Verditek plc, (AIM: VDTK), the international green technology
company that develops, manufactures and sells lightweight solar
panels, and Net Zero Valley ("NZV"), an Italian fully owned
investment holding of the SerendipEquity Group, a global
impact/ESG-only private equity and real estate investment firm and
alternative fund manager, are pleased to announce the execution of
a non-binding Memorandum of Understanding ("MOU") that forms the
basis of the framework for a 50:50 Joint Venture Agreement ("JVA")
to invest in a new large scale (1GW) ultra-lightweight solar panel
manufacturing plant in Southern Italy on NZV's 1.5m sq ft
campus.
NZV is planning to establish an integrated R&D and
manufacturing campus in Eastern Sicily which will focus on:
(i) technologies for the decarbonization of the real estate and
automotive sectors (including renewable energy generation &
storage, carbon negative building materials and systems)
(ii) systemic solutions and applications thereof (including EV
charging stations, solar car parks,
PV window systems and facades, smart agri-voltaic and
greenhouses, integrated residential and commercial PV rooftops,
power walls, energy management systems, utility scale energy
storage).
NZV will be responsible for providing the necessary land,
buildings and all funding for the plant, as well as being jointly
responsible with Verditek for maximising the PV product off-take
through SerendipEquity Group's strategic and proprietary
distribution network with a strong emphasis on the multi-billion
dollar agri-voltaic and Building Integrated Photovoltaic ("BIPV")
markets throughout the EU and North America. The proposed JV will
have access to a factory which is on-site and the delivery time for
machinery is approximately nine months.
Verditek will be responsible for providing its expertise in
sourcing the required machinery, setting up and operating the
plant, deploying its proprietary know-how and ensuring the 1GW
factory is certified. Verditek will be jointly responsible for
securing for the new JV its existing strategic distribution
partners that already sell photovoltaic ("PV") integrated roof
products as well as new prospective off-takers.
Both parties are confident that a new PV plant with
manufacturing capacity of 1GW will reduce the unit cost of
ultra-lightweight solar modules enabling them to compete on price
and quality with products sold in the mainstream PV market by
significantly reducing the price differential with that of far
heavier conventional glass panels which are more expensive to
install and less aesthetically pleasing.
Mario Bonaccorso, Managing Partner, SerendipEquity said. "We are
delighted to have signed an MOU to work together with Verditek in
harnessing this exciting technology and providing the funds that
enable this product to become competitive in the mainstream PV
market. Scaling production up, NZV and Verditek will transform the
social, environmental, and economic outlook for the region in
Southern Italy."
Lord Willetts, Chairman of Verditek, said, "We are excited to
have signed an MOU with a view to entering into a JV with NZV which
would have the potential to transform the outlook for Verditek. It
would provide the opportunity to achieve essential critical mass,
significantly scaling our manufacturing capability and allow the
opportunity to carve out an increased share of the fast-growing,
mainstream PV market in Europe with our ultra-lightweight
panels."
For further information:
Verditek plc
Rob Richards, CEO Tel: +44 (0)20 7129 1110
John McCall, Interim CFO
WH Ireland Limited - NOMAD
and Broker
Chris Hardie Tel: +44 (0)20 7220 1666
Hugh Morgan
Andrew de Andrade
About Verditek plc:
AIM listed Verditek plc is a holding company of a business
operating within the green technology sector. The Company is
focused on commercialising our lightweight low-profile solar panel
business. With manufacturing based in 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. We are working together to engineer the technology for
commercialisation.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRASFLFALEDSESA
(END) Dow Jones Newswires
August 15, 2023 02:00 ET (06:00 GMT)
Verditek (LSE:VDTK)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Verditek (LSE:VDTK)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024