Verditek subsidiary wins trial contract with Italian ad agency

Josh White Sharecast | 21 Aug, 2017 16:01 - Updated: 16:01 | | |

ep energia solar
Energía solarFLIRCK

Verditek

8.62

17:18 20/09/17
0.00%
0.00

Clean technology company Verditek announced on Monday that its 51% owned subsidiary Greenflex Energy - an Italian based manufacturing solar photovoltaic technology company - has won an initial trial contract with Media One - one of Italy's largest out of home advertising agencies - to supply and install its proprietary solar PV technology to power digital advertising billboards at outdoor bus shelters in Italy.

The AIM-traded firm said the trial contract, which was won in a competitive tender process, would see the company supply and install its solar PV technology at a bus shelter in the province of Rimini, Italy, in September 2017.

Once successfully completed, the trial is expected to extend to supply the company's solar PV material for approximately 20 further bus shelters along the Rimini-Riccione bus line in Italy, targeted for October 2017.

On successful completion of the initial project, the company said there was a significant opportunity for Verditek, through Greenflex, to supply the company's solar PV building material for an additional 100 outdoor bus shelters in the area.

“We are delighted to have won this initial trial contract order with Media One, which we believe underpins our solar PV technology as a best in class solution for solar power generation for multiple industries,” said CEO Theo Chapman.

“One of the main cost constraints in the rapid roll out of digital advertising boards across Italy is the high cost of connection to grid power.

“We believe our solar PV technology offers a highly efficient and cost-effective solution to powering these boards, allowing them to be independent of Italy's national electricity transmission grid.”

The potential market within Italy's digital out-of-home advertising is significant, the Verditek board said, with Media One alone operating over 5,000 digital advertising billboards across the country.

Verditek's solar PV technology has “significant” product innovations compared to competing technologies, the board claimed, including interconnectivity of individual PV cells, lightness and its unique flexible design integrates the material into the design of the bus shelter offering a greater level of security and architectural integrity.

“We also believe this opportunity paves the way for us to examine the potential to supply independent solar power units to the digital billboard market in other countries that face the same interconnectivity issues as Italy,” Chapman added.

“We look forward to completing this initial trial for bus shelters in Rimini.”

More news

20 Sep US close: Dow, S & P 500 close at session highs as Fed starts QE taper

The Dow Industrials and S & P 500 ended slightly higher even as the US Federal Reserve announced the historic end to its balance sheet expansion, although the Nasdaq was held back by losses in shares of Apple.

20 Sep Results round-up

Kingfisher posted better profits than were expected for the first half of the year but the do-it-yourself retailer remained cautious on the second half backdrop in the UK and France.

20 Sep Broker tips: Nostrum Oil & Gas, Stagecoach, BAE Systems

RBC Capital Markets upgraded Nostrum Oil & Gas to 'outperform' from 'sector perform' saying recent weakness is an opportunity and its discount to peers it set to unwind as it delivers operational milestones.

20 Sep Fortum and E.ON in 'advanced talks' for sale of Uniper stake

Finnish firm Fortum announced on Wednesday that it was in advanced talks with E.ON over the potential €3.76bn purchase of German energy company Uniper.

20 Sep Federal Reserve to start taper in October, nudges rate forecast lower

America's central bank has stuck to script - or almost - announcing it will begin to taper the size of its balance sheet next month while keeping the target for its main policy interest rate unchanged at between 1.0% and 1.25%.

20 Sep Europe close: Spanish stocks underperform

European stocks ended the session little changed amid moderate selling pressure on Spanish stocks on the back of the latest news around the attempted independence referendum in Catalonia and ahead of the US Federal Reserve's policy decision later in the session.

20 Sep Apple discovers issues in new smartwatch 48 hours before shipping

Tech juggernaut Apple announced on Wednesday that its new Series 3 smartwatches had been experiencing significant connectivity issues just days before they were due to be shipped.

20 Sep London close: Strength in Sterling puts a lid on stocks

London stocks traded fairly flat on Wednesday as the pound popped higher on the back of stronger than expected retail sales data, even as traders waited on the US Federal Reserve's policy announcement later in the day.

20 Sep Thursday preview: Capita guidance and UK public sector debt under spotlight

Thursday in Europe will initially see any fallout from the US policy adjustments overnight, while in the UK Capita and Mitchells & Butlers investors have results to pore over, with an update on the public deficit later in the morning.

20 Sep Bed Bath and Beyond fails to meet expectations again

Bed Bath and Beyond (BBBY) shares suffered after the New Jersey-based home goods retailer fell short of market expectations yet again.