Management Reports • Mar 15, 2018
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National Storage Mechanism | Additional information
RNS Number : 7710H
Verditek PLC
15 March 2018
Verditek PLC
("Verditek" or the "Company")
WES Drives Commercialisation with Global Licence
Verditek plc, (AIM: VDTK), the clean technology company, is pleased to update shareholders that Westec Environment Solutions ("WES") has licensed Canadian company Industrial Climate Solutions Inc. ("ICSI") on an exclusive worldwide basis to commercialise WES' patented carbon capture, natural gas processing, gas purification and indoor air quality technology.
Verditek is committed to commercialising proven technology that can deliver significant competitive advantage compared to conventional industrial solutions and this is one example being realised through the agreement between WES and ICSI.
Geoff Nesbitt, Chairman and Interim CEO of Verditek plc said: "We are thrilled by this milestone agreement between WES and ICSI. This collaboration represents a significant step forward in the journey towards the industrial acknowledgment and adoption of WES' innovative CO2 capture technology. This is not just a significant moment for WES and the development of its patented technology but also a significant moment for cleantech as a whole."
Richard Adamson, CEO of ICSI added "The RFC technology developed at WES opens the door to significant size reductions and cost savings for post-combustion CO2 capture applications. This is a key enabling step in advancing carbon capture, utilisation and storage from demonstration projects to integrated regional industrial emissions management systems. And this is only one of several applications in multiple markets for this ground-breaking technology."
With the business discipline and support of Verditek's leadership team, WES is in a strong position to fully benefit from the licence with ICSI.
The official announcement of the collaboration took place at the international GLOBE Forum and Innovation Expo 2018 in Vancouver, Canada. With the Canadian government investing nearly £0.8 billion to help Canada's clean technology industry, protect the environment and create jobs, the agreement between WES and ICSI is perfectly timed to leverage this investment.
WES' suite of innovative gas/liquid and three-phase contactor/reactor technologies, known as Regenerative Froth Contactor (RFC) technology will be used in the oil and gas sector, fine chemicals, pharma and cement production. The main benefits of the technology will be that it opens the door to significant size reductions and cost savings for post-combustion CO2 capture applications.
The agreement between WES and ICSI reinforces the focus of both companies on the development and widespread adoption of industrial process equipment and technologies that reduce greenhouse gas emissions at an industrial scale. Further details can be found on the WES' website www.wes-worldwide.com.
Enquiries:
Verditek plc
Geoffrey Nesbitt (Chairman and Interim CEO) +44 (0) 20 7129 1110
Whiteoaks Consultancy
Mary Fitzgerald +44 (0) 7795 284440
Bekki Bushnell + 44 (0) 7841 698586
Stockdale Securities Limited (NOMAD and Broker)
Antonio Bossi/Hanan Lee + 44 (0) 20 7601 6100
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 visit verditek.plc.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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