Two heavyweights from the energy industry will join forces as Verditek becomes the latest clean technology company to list on London’s AIM market.
Oil industry veteran and chief technology officer of FTSE 250-listed Petrofac Limited (LON:PFC), Geoffrey Nesbitt, will become chairman of the company ahead of the £3.5mln float.
At the same time, former Scottish Power boss José Luis del Valle will join Verditek as a non-executive director.
After years in the oil and gas sector, del Valle and Nesbitt are moving into the growing clean-tech business following the slump in the more traditional energy markets.
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Verditek has businesses focused on solar panels, carbon capture and water filtration, and it intends to use the proceeds from the float to bring its technologies to market.
The holding company claims the solar cells produced by its Greenflex Energy are lighter, more flexible and more efficient than others on the market.
It also believes its carbon capture technology has huge potential due to the growing threat posed by rising CO₂ emissions.
“We have a highly experienced management team with strong leadership and experience in the clean technology sector,” said chief executive Theodore Chapman.
“We feel that with our talent and expertise coupled with the proceeds from the placing we will be well positioned to maximise the potential of these businesses to establish strong sales pipelines to drive revenue.”
Verditek expects to begin trading at some point next month.