The trial contract with Media One – one of Italy’s largest out of home advertising agencies – will see the Italy-based solar photovoltaic technology manufacturer, supply and install its PV technology at a bus shelter in the province of Rimini, Italy, in September 2017
Verditek PLC (LON:VDTK) has announced that its 51%-owned subsidiary, Greenflex Energy Limited has won an initial trial contract to supply and install its proprietary solar PV technology to power digital advertising billboards at outdoor bus shelters in Italy.
The trial contract with Media One – one of Italy’s largest out of home advertising agencies – will see the Italy-based solar photovoltaic technology manufacturer, supply and install its PV technology at a bus shelter in the province of Rimini, Italy, in September 2017.
The group – which listed on AIM on August 10 – said, once successfully completed, the trial is expected to extend to supply solar PV material for approximately 20 further bus shelters along the Rimini-Riccione bus line in Italy, targeted for October 2017.
It added that, on successful completion of the initial project, there is a significant opportunity for Verditek, through Greenflex, to supply solar PV building material for an additional approximately 100 outdoor bus shelters in the area.
The firm said the potential market within Italy’s digital out of home advertising is significant, with Media One alone operating over 5,000 digital advertising billboards across the country.
Verditek’s CEO, Theo Chapman, said: “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.
He added: “If successful, this initial trial contract may lead to a larger-scale order to supply and install our proprietary solar PV material for a further c.100 bus shelters, which would see a meaningful order-book established for Greenflex and further revenue generation established for the Company. We look forward to updating the market accordingly.”
In early trading, Verditek’s shares were 1.4%, or 0.12p higher at 8.88p.