Verditek's subsidiary, Greenflex Energy, renews and extends contract with Media One

Verditek's 51%-owned subsidiary, Greenflex Energy Limited, an Italian-based manufacturing solar photovoltaic technology company, renewed and extended its contract with Media One s.r.l., one of Italy's largest out of home advertising agencies.

Following a successful trial, Verditek will now supply and install its solar PV material on approximately 20 further bus shelters along the Rimini-Riccione bus line in Italy.

That trial contract had involved Greenflex supplying and installing its solar PV technology at a bus shelter in the province of Rimini, Italy.

Additionally, Verditek said that Media One had asked Greenflex for a proposal to develop a solution for standalone out of home advertising such as billboards which at present are not lit.

Verditek's CEO, Theo Chapman, said: "We are delighted to have successfully completed this initial trial contract order with Media One, which we believe has demonstrated our solar PV technology as a best in class solution for solar power generation for multiple industries.

"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 have now shown that there is an effective low-cost alternative that is clean and green and, most importantly, allows the media owners to install and upgrade their units to 24/7 advertising opportunities without having to wait to be hooked up to the grid."