Verditek Plc, a holding company with three businesses focused on the clean technology sector, has announced its intention to float on the London Stock Exchange’s junior AIM.
The proposed placing is looking to raise approximately £3.5 million for commercialisation purposes.
Dealings are expected to start on the AIM in May.
The company is focused on “emergent and fast-growing clean technology sectors”.
These include next generation solar panel technology, liquid gas absorption for CO2 capture and emission control and filtration de-odourisation for water and air.
The board includes Geoff Nesbitt, currently CTO of Petrofac, as chairman and José Luis del Valle Doblado, former Global CFO of Santander and CEO of Scottish Power, as a non-executive director.
Theodore Chapman, chief executive of Verditek, said: “We are delighted to announce our intention to list on AIM, an attractive marketplace for us at this transformational juncture in Verditek’s development, as we look to progress our three clean tech businesses with exciting, disruptive technologies and proven products in solar, carbon capture and filtration. We envisage that the listing will enable us to accelerate their growth, scale the businesses and bring each of the proprietary products to market.
“We have a highly experienced management team with strong leadership and experience in the clean technology sector. 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.”