Verditek partners with Engenera to advance solar projects

Verditek on Thursday signed a framework agreement with Engenera Renewables to advance commercial opportunities and jointly provide end-to-end solar solutions to clients.

Under the agreement, the two firms have agreed to work together to source, tender, finance and create renewable energy generation projects and offer a tailored solution that helps remove the threat of volatile utility prices and provides project owners and businesses with a ready-made solution and predictable savings.

Geoff Nesbitt, chief executive of Verditek, said: "Putting our relationship in place is a natural union of two companies striving for the same result; delivering sensible no-nonsense energy solutions for clients and investors. We are aligned in our focus on projects that open up solar solutions to energy-savvy businesses, and scale to provide attractive investment opportunities."

Verditek develops lightweight and semi-flexible solar panels for projects that otherwise could not consider a solar solution due to weight restrictions, installation challenges, or architectural aesthetics, while Engenera is focused on helping businesses to reduce energy bills and their carbon footprint.

Bryan Glendinning, chief executive of Engenera, said "When we initially met with the Verditek team we were delighted to find a strategically aligned board committed to providing a customer centric solution. We consider the Verditek product to be an exciting addition to both the niche and wider Solar market. By working together it was obvious that we could make a significant impact in both the private and investor markets."

Verditek's shares were up 4.76% at 5.50p at 1029 BST.