Business
Market Updates
Market Updates.
About this update from Earnz Plc
[{"type":"text","content":"\n \n \n RNS Number : 9357V\n Verditek PLC\n 12 August 2020\n \n \n \n \n \n \n \n 12 August 2020\n \n \n \n \n \n Verditek PLC\n \n \n \n \n \n (\"Verditek\" or the \"Company\")\n \n \n \n \n \n Market Updates\n \n \n \n \n \n Verditek plc, (AIM:VDTK) the clean technology company wishes to announce, following its string of new contract wins over the past two months that a number of those projects have already been shipped to the clients despite the backdrop of Covid. These include the first announced order to SAF Pakistan, the UK orders, and Endeco, all of which were despatched ahead of contractual delivery dates\n .\n \n \n However, in 2019, RNS announcements\n \n were made \n in respect of two distribution\n agreements for Nigeria (RNS Number: 7008N) and Australia (RNS Number: 2258A). After these announcements the distributors proved unable to secure the contracts that they had contractually committed to in their original agreements.\n \n \n \n \n \n With respect to the Nigerian distributor, we have refocussed them to concentrate on market segments in which we are successful, namely diesel fuel displacement and remain optimistic that they will deliver contracts albeit not in the timescales or quantum originally mentioned.\n \n \n \n \n \n With respect the Australia market, we have chosen to attack the market with a different approach and are more focussed on specific , potentially very attractive sectors including mining and marine, and are no longer in dialogue with the original distributor. Under this new strategy, and with our own sales representative now in place, in country, we have been able to secure our first order, two weeks ago, in the lucrative marine sector, this order has been paid in full and the panels were dispatched from stock.\n \n \n \n \n \n \n \n \n Rob Richards, Verditek CEO commented; \" Since taking over as CEO of the Company in May, I have embarked upon a clear driven strategy , to focus the Company's energy and resources on sectors that I believe will deliver the most profitable and demonstrable results, and capitalise on the inherent advantages of our ultra-lightweight, flexible solar product. To that end the selling efforts of the group are now targeting those industrial segments where traditional solar panels...