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IN BRIEF: Verditek wins grant from Innovate UK for Zimbabwe project

Mon, 13th Sep 2021 17:09

Verditek PLC - London-based company producing solar panels - Announces successful application for an Innovate UK grant, which will part fund the company's development alongside local partners of an ultra-lightweight portable micro solar energy system, which is expected to provide renewable power - from 50 watts to 1.5 kilowatts - to off-grid communities in Zimbabwe.

The total project costs is around GBP450,000, 70% of which will be covered by the grant. The project will start on October 1, and last for 18 months.

"We are delighted to have been awarded this grant to apply our technology to a real-world pressing issue. Addressing the need for sustainable, portable green energy in developing nations is an important challenge today," said Chief Executive Officer Rob Richards.

Current stock price: 4.22 pence

Year-to-date change: down 53%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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