M&A Activity • Apr 25, 2019
M&A Activity
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National Storage Mechanism | Additional information
RNS Number : 0792X
Verditek PLC
25 April 2019
Verditek PLC
("Verditek" or the "Company")
Verditek and Engenera Announce Framework Agreement
Verditek plc, (AIM: VDTK) and Engenera Renewables Limited are pleased to announce that they have signed a framework agreement to advance commercial opportunities and jointly provide end-to-end solar solutions to clients. Under the agreement the two firms have agreed to work together to source, tender, finance and create renewable energy generation projects.
Verditek is developing opportunities for its lightweight and semi-flexible solar panels manufactured in Italy. These products address projects that otherwise could not consider a solar solution due to weight restrictions, installation challenges, or architectural aesthetics. In addition, Verditek is developing financing instruments to provide clients with reliable and affordable entry into solar.
Engenera is a premier UK EPC company specialising in renewable energy solutions for its clients. Engenera has developed a four-step process to help businesses reduce energy bills and their carbon footprint, removing up-front costs and maintenance burden as barriers to a sustainable future.
Together the two organisations can offer a tailored solution that helps remove the threat of volatile utility prices and provides project owners and businesses with a ready-made solution and predictable savings.
Bryan Glendinning, CEO of Engenera said "When we initially met with the Verditek team we were delighted to find a strategically aligned board committed to providing a customer centric solution. We consider the Verditek product to be an exciting addition to both the niche and wider Solar market. By working together it was obvious that we could make a significant impact in both the private and investor markets".
Dr Geoff Nesbitt, CEO of Verditek plc said: "Putting our relationship in place is a natural union of two companies striving for the same result; delivering sensible no-nonsense energy solutions for clients and investors. We are aligned in our focus on projects that open up solar solutions to energy-savvy businesses, and scale to provide attractive investment opportunities".
About Engenera
Engenera Renewables Limited, is headquartered in Gateshead, UK and has over 50 years' combined experience in the energy sector. As one of the UK's largest Engineer, Procure, Construct (EPC) contractors, Engenera renewables are uniquely prepared to assess your requirements, tailor a clean energy plan for your company, supply and install all the equipment your project will benefit from, and carry out all maintenance on the installed system.
About Verditek
Verditek plc (AIM: VDTK), the clean technology company is headquartered in London. Verditek is dedicated to commercialising proven technology that can deliver significant competitive advantage compared to conventional industrial solutions. From light-weight solar modules, cutting edge de-odourisation, and ground-breaking CO2 capture, Verditek is realising tomorrow's technologies today.
For further information, please contact:
Verditek plc
Geoffrey Nesbitt CEO Tel: +44 (0) 207 129 1110
Engenera Renewables Limited
Bryan Glendinning CEO Tel: + 44 (0) 191 543 7857
WH Ireland Limited
Chris Hardie Tel: + 44 (0) 207 220 1666
Matthew Chan
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