Business
Renewal and Extension of Contract with Media One
Renewal and Extension of Contract with Media One.
About this update from Earnz Plc
[{"type":"text","content":"\n \nRNS Number : 9054W Verditek PLC 20 November 2017 \n\n20 November 2017\n \nVerditek PLC \n(\"Verditek\" or the \"Company\")\n \nRenewal and Extension of Contract with Media One Following Successful Completion of Trial \n \nVerditek 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. \n \nThe 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. \n \nAdditionally, 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.\n \nVerditek'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. \n \nVerditek'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. \n \n\"One of the main cost constraints in the rapid roll out of digital advertising boards across Italy is the high cost of connectio...