Business
Final Results
Final Results.
About this update from Earnz Plc
[{"type":"text","content":"\n \nRNS Number : 0365T Verditek PLC 29 June 2018 \n\nVerditek PLC\n(\"Verditek\" or the \"Company\")\nFinal Results\nVerditek plc (AIM: VDTK), the clean technology company, today announces its final results for the year ended 31 December 2017.\n \nHighlights\nThe initial year of operation for Verditek has been an exciting one, with application of the funds raised to take positions in the three subsidiary companies in the pursuit of commercial prospects. Highlights include:\n· Migration of the solar equipment to our new site near Milan to improve underlying costs to the business and access to skilled labour.\n· Hiring a new General Manager and the restructuring of Greenflex's leadership to insert operational excellence.\n· Establishing solar sales leads and manufacturing relationships to support early sales.\n· Creation of a Joint Development Project (\"JDP\") with Paragraf to develop a graphene solar cell and launch of the project in Cambridge. \n· Restructuring of BBR's cashflow, restructuring of its leadership, and creation of a new commercial pursuit team.\n· Creation of the ICSI relationship with WES and pursuit of benchmarking in the Oil and Gas industry.\nFor the period under review, Verditek has been building competence in its three subsidiary companies, completing market diligence, and establishing sales leads. Verditek did not generate any revenue for the period.\nCommenting on the Company's final results, Geoff Nesbitt, Chief Executive Officer of Verditek, said: \n\"This first year has been an intense period of putting the basic building blocks of sound commercial practice in place. We will deliver cashflow in 2018 and continue to build revenues and look to increase margins in 2019. Our focus continues to be delivery of organic sales of our solar cell PV technology and putting enduring licensing relationships in place. \n \nThe JDP with Paragraf Limited is thriving and on route to develop the integrated graphene-silicon solar technology that I believe has the potential to transform the application of conventional solar wafer technology in consumer electronics and aerospace applications. It is a privilege to work with the...