Manufacturing Site reopened and Business Update

 27April 2020

Verditek PLC

("Verditek" or the "Company")

Manufacturing Site reopened and Business Update

Verditek plc, (AIM:VDTK) the clean technology company is pleased to announce continued progress with developing commercial initiatives. Despite challenging conditions, our team remains intensely engaged with several initiatives that promise to deliver exciting progress applying our lightweight low-profile Solar PV solutions.

Following our previous business update of 28 January 2020, we are happy to report;

·    Our manufacturing site in Lainate Italy reopened on 6 April 2020 and commenced production. Our employees were self-isolating during previous weeks in full compliance with the Italian government directives and we are happy to report no virial symptoms have been registered. We have permission to work and have access to the government wage compensation program which is part of the "Cura Italia" (Cure Italy) Decree signed on 17 March 2020. We will balance our production rota to optimise the welfare of our staff and the company.

·    We have agreed with Green Unit ( https://www.greenunit.co.uk/  ) to integrate our lightweight solar technology into the curved roof of their ARC buildings. The ARC buildings are a low-carbon superbly insulated building that will now offer clients the option of a solar roof which can enable the buildings to be sited in locations where infrastructure and grid connections are limited. The power solution will include battery storage and a bio-generator so that the building will continue to be powered even in cloudy conditions.

·    We have signed an agreement with Lux Optimeyes Energy lda of Portugal to develop a lightweight PV panel manufacturing facility at a site in Moura Portugal. The contract comprises a 10-year licensing agreement in addition to the design, supply and installation of a 10 MW/shift PV manufacturing line based on Verditek Technology.

·    We have signed an agreement with Electric Assisted Vehicles Limited ( https://www.eavcargo.com/ ) to commence a trial of our lightweight low profile PV panels with their zero emission lightweight commercial vehicles. Our PV panels will be integrated into the electrical system to extend the range of the EAV vehicle. Upon successful completion of the three-month trial our companies will agree further collaboration to create renewable zero-emission transport solutions.

·    We have signed an agreement for a paid-trial with IM Efficiency, an innovative technology company focused on decreasing emissions in conventional transport trucks and semi-trailers ( https://imefficiency.com/ ). Based in the Netherlands, IM Efficiency have developed their SolarOnTop product range that is proven to lower fuel consumption and bring sustainable energy for heavy goods vehicles. Verditek and IM Efficiency have agreed to trial our lightweight low profile PV technology to further improve the performance of their products and reduce an already compelling pay-back period of less than 3 years.

Dr Geoff Nesbitt, CEO of Verditek, commented: "Our sales team has been working extremely hard to advance opportunities during this challenging period and I am excited with the progress we have booked. We continue to move forward and are preparing to ship product from our factory. Our solar solutions continue to attract parties that are interested in arranging trials in their market (e.g. military, transport, recreational homes, commercial real estate) which will be the subject of future updates."

Enquiries:

Verditek plc

RH Lord David Willetts FRS (Non-Executive Chairman)                                      +44 (0) 20 7129 1110

Dr Geoff Nesbitt (Chief Executive Officer)                                                              [email protected]

WH Ireland Limited (NOMAD and Broker)

Chris Hardie (Director, Corporate Finance)                                                             +44(0)207 220 1666  

                [email protected]

About Verditek plc

AIM listed Verditek plc is a holding company with three businesses operating within the clean technology sector. The Company is focused on commercializing 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 impossible. 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 PV panels in production, we have partnered with an outstanding leader in graphene technology, Paragraf, and have created the worlds' first Graphene Integrated Photo Voltaic cell. We are working together to engineer the technology for commercialization.

Verditek provides compelling commercial solutions that make our customers business sustainable.

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