Verditek and Bradclad Distribution Agreement

19 October 2022

Verditek plc ("Verditek" or the "Company")

Verditek and Bradclad Distribution Agreement Update  

In its announcement of 27 June 2022 (the "Announcement") the Company set out its role as exclusive supplier of lightweight solar panels to the new joint venture between Bradclad Group (Verditek's distribution partner) and Protan AB. The Company has been made aware that Bradclad Group is engaging with another manufacturer in respect of the SolarBond product. Therefore, Verditek can no longer be considered the exclusive supplier as stated in the Announcement.

Moreover, since the Announcement, Verditek has not received any further orders in respect of this distribution agreement and there can be no guarantee of any additional orders being received for the other fourteen holiday parks referred to in the Announcement.

The Company will provide further updates, if appropriate, in relation to the future of the relationship with Bradclad.

For further information, please contact:

Verditek plc

 

Rob Richards (Chief Executive Officer)  +44 (0) 20 7129 1110

John McCall (interim Chief Financial Officer)

 

WH Ireland Limited (NOMAD and Broker)

 

Chris Hardie  +44(0) 20 7220 1666

Ben Good

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

About Verditek plc

AIM listed Verditek plc is a holding company of a business operating within the green technology sector. The Company is focused on commercialising our lightweight low-profile solar panel business. With manufacturing based in Lainate Italy, we have developed renewable power solutions for our customers that drive solar energy into applications previously unachievable. The exceptional properties of our solar panels replace diesel fuel in business such as perishable goods transport, off-grid telecommunication towers, electric vehicle charging stations, residential and holiday home power solutions and solar roofing for light-weight industrial roofing. In addition to our current photovoltaic panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf. We are working together to engineer the technology for commercialisation. We are a supplier of lightweight solar panels to the new joint venture between our distribution partner Bradclad Group and Protan AB, the second largest, single ply roofing membrane supplier in Europe.

For more information please visit or contact the following:  https://verditek.com/