Verditek PLC Renewal and Extension of Contract with Media One (9054W)

TIDMVDTK

RNS Number : 9054W

Verditek PLC

20 November 2017

20 November 2017

Verditek PLC

("Verditek" or the "Company")

Renewal and Extension of Contract with Media One Following Successful Completion of Trial

Verditek plc, (AIM: VDTK), the clean technology company, announces that its 51% owned subsidiary, Greenflex Energy Limited ("Greenflex"), an Italian based manufacturing solar photovoltaic ("PV") technology company, has renewed and extended its contract with Media One s.r.l. ("Media One"), one of Italy's largest out of home advertising agencies, following the successful completion of the initial trial contract.

The initial trial contract, which was won in a competitive tender process, saw Greenflex supply and install its solar PV technology at a bus shelter in the province of Rimini, Italy, in September 2017. Following successful completion of the trial, the Company has signed a contract with Media One to extend the supply and installation of its solar PV material to approximately 20 further bus shelters along the Rimini-Riccione bus line in Italy as this new line is completed.

Additionally, Media One has asked Greenflex for a proposal to develop a solution for standalone out of home advertising such as billboards which are currently not lit, enhancing the attractiveness of this communication channel for potential advertisers. The market opportunity within Italy's out of home advertising is significant, with Media One alone operating thousands of advertising billboards across the country.

Verditek's solar PV technology has significant product innovations compared to competing technologies including interconnectivity of individual PV cells, lightness and its unique flexible design integrates the material into the design of the out of home advertising units offering a greater level of security and architectural integrity.

Verditek's CEO, Theo Chapman, said: "We are delighted to have successfully completed this initial trial contract order with Media One, which we believe has demonstrated our solar PV technology as a best in class solution for solar power generation for multiple industries.

"One of the main cost constraints in the rapid roll out of digital advertising boards across Italy is the high cost of connection to grid power. We have now shown that there is an effective low-cost alternative that is clean and green and, most importantly, allows the media owners to install and upgrade their units to 24/7 advertising opportunities without having to wait to be hooked up to the grid."

Media One Sales Director, Mr Marco Stefanelli, stated: "Our objective is to always provide the best platform for our clients - who are some of Italy's leading advertisers - to communicate with their customers. It is so important that their brands and messages appear in first class environments that are sustainable. Greenflex products allow our clients to showcase their brands using the power of the sun. That is a message that resonates with all of them.

"We are very pleased with Greenflex's ability to work with us to create a solution that complements our existing investments in media hardware and software and allows us to turn more of our advertising sites into 24/7 advertising solutions".

Enquiries:

 
Verditek plc 
                                                [phone] 
 Geoffrey Nesbitt (Non-Executive Chairman)      1110 
 Theodore Chapman (Chief Executive Officer)     [e-mail] 
Stockdale Securities Limited (NOMAD 
 and Broker) 
Antonio Bossi                                 [phone] 
 Hanan Lee                                     6100 
 
 
                                                [phone] 
Yellow Jersey PR (PR & IR)                      715 
                                                [phone] 
 Georgia Colkin                                 882 
 Harriet Jackson                                [phone] 
 Henry Wilkinson                                336 
 

Notes to Editors

Verditek plc

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company has a unique liquid gas absorption technology expected to revolutionise the global CO(2) capture industry; two solar manufacturing production lines in San Marino each of 25MWp (total 50MWp) producing what is believed to be an innovative and un-paralleled solar PV building material; and a pioneering filtration deodorisation technology, which is commercially proven and tackles a wide range of odours within air and water at a high efficiency.

For more information please visit or contact the following: https://www.verditek.plc.uk/

Media One s.r.l

Media One s.r.l is a leading Italian out of home advertising agency. The agency specialises in large format outdoor advertising and has numerous partnerships, including with Ferrovie dello Stato Italiane (the government-owned holding company that manages infrastructure and services on the Italian rail network), for whom it exclusively manages all advertising across thousands of stations in the country. Media One also currently manages advertising for the transport network in the Italian province of Rimini. The agency continues to grow and is expanding into other business channels including sponsorship opportunities on the facades of private and public buildings in Italy.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 20, 2017 02:00 ET (07:00 GMT)