Business
MOU Signed with Net Zero Valley
MOU Signed with Net Zero Valley.
About this update from Earnz Plc
[{"type":"text","content":"\n\nReach\n \nVerditek PLC\n(\"Verditek\" or the \"Company\")\n \n MOU Signed with Net Zero Valley \n \nVerditek plc, (AIM: VDTK), the international green technology company that develops, manufactures and sells lightweight solar panels, and Net Zero Valley (\"NZV\"), an Italian fully owned investment holding of the SerendipEquity Group, a global impact/ESG-only private equity and real estate investment firm and alternative fund manager, are pleased to announce the execution of a non-binding Memorandum of Understanding (\"MOU\") that forms the basis of the framework for a 50:50 Joint Venture Agreement (\"JVA\") to invest in a new large scale (1GW) ultra-lightweight solar panel manufacturing plant in Southern Italy on NZV's 1.5m sq ft campus.\n \nNZV is planning to establish an integrated R&D and manufacturing campus in Eastern Sicily which will focus on:\n \n(i) technologies for the decarbonization of the real estate and automotive sectors (including renewable energy generation & storage, carbon negative building materials and systems)\n(ii) systemic solutions and applications thereof (including EV charging stations, solar car parks,\nPV window systems and facades, smart agri-voltaic and greenhouses, integrated residential and commercial PV rooftops, power walls, energy management systems, utility scale energy storage).\n \nNZV will be responsible for providing the necessary land, buildings and all funding for the plant, as well as being jointly responsible with Verditek for maximising the PV product off-take through SerendipEquity Group's strategic and proprietary distribution network with a strong emphasis on the multi-billion dollar agri-voltaic and Building Integrated Photovoltaic (\"BIPV\") markets throughout the EU and North America. The proposed JV will have access to a factory which is on-site and the delivery time for machinery is approximately nine months. \n \nVerditek will be responsible for providing its expertise in sourcing the required machinery, setting up and operating the plant, deploying its proprietary know-how and ensuring the 1GW factory is certified. Verditek will be jointly responsible for securing for the new JV its existing strategic distribution partners that already sell photovoltaic (\"PV\") integrated roof products as well as new prospective...