Business
VSI Commences Manufacturing and First Order Intake
VSI Commences Manufacturing and First Order Intake.
About this update from Earnz Plc
[{"type":"text","content":"\n \nRNS Number : 2258A Verditek PLC 28 May 2019 \n\nVerditek PLC\n\n(\"Verditek\" or the \"Company\")\n\nVerditek Solar Italy Commences Manufacturing and First Order Intake\n \nVerditek plc, (AIM: VDTK), is delighted to announce the official opening of our first Solar PV module factory in Lainate Italy. Verditek Solar Italy (VSI) operates the site and production of our lightweight solar panel modules which we are bringing to market. The chairman RH Lord David Willetts FRS and board members have inspected the facility and observed the manufacture of PV modules across a range of sizes and formats. The production facility is ideally situated, close to major transport corridors and near to the Milan-Malpensa airport in the industrial and design heartland of Italy.\n \nThe 1800m2 facility includes a largely automated state-of-the-art production line that has benefited from full refurbishment and testing during the preceding months. Verditek Solar Italy will provide employment opportunities requiring production and administration skills in Lainate and has hired operations staff to begin ramp up to full production capacity in the coming months. In anticipation, VSI has hired sales staff in March covering the EU, Africa and Asia, and has been attending solar exhibitions and pursuing leads to fill the order book. \n \nThis has resulted in securing our first material distribution agreement comprising a multi-year take or pay contract that begins with a minimum of 1 MW in the first year and increases to 3 MW in the second year. The first 200 kW will be shipped within 16 weeks and serve to establish the factory. Further orders are under negotiation and the directors are confident the pipeline will deliver firm commitments in the near future.\n \nThe company has ambitious plans to expand and enhance the performance of the plant to bring our product competitively to market and has identified opportunities to increase production capacity cost effectively, as our pipeline continues to grow.\n \nConstructed for high efficiency and durability, Verditek Solar Italy's production line utilises nanowire technology to enhance electrical conductivity and safety. Thanks to their polymer construction, the PV panels are robust and semi-flexible but without the heavy aluminium frame and glass sheets required in conventional ...