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Verditek wins first order in valuable Australian mining sector

By Josh White

Date: Thursday 24 Sep 2020

Verditek wins first order in valuable Australian mining sector

(Sharecast News) - Clean technology company Verditek has won its first order in the mining sector in Australia, it announced on Thursday, representing what it described as an "important new territory".
The AIM-traded firm said it had secured an order for its 'PowerMat' solution from InterGroup Mining, to provide solar power to its exploration operations based in Queensland.

InterGroup, which had made a number of major gold discoveries, was said to be in the process of ramping up its operations significantly.

The first order was for 75kW at their exploration camp, but they were apparently expecting a large increase in their power requirements over the coming year, which would provide Verditek with the opportunity for further larger orders.

It said the lightweight, durable solar panels would be used as part of a diesel-solar hybrid system, with the solar panels "significantly reducing" the consumption of liquid fuel, and thus offering financial savings to the operator as well as achieving a key objective for InterGroup in wanting to make its mining operations more 'green'.

The unit was expected to be shipped to Australia in December, with a first stage payment already received.

"I am extremely pleased that we continue to deliver on the strategy of delivering solar solutions to off grid installations and converting wet fuel users to dry," said chief executive officer Robert Richards.

"This first sale of our mobile power solution to the Australian mining sector, through InterGroup marks a significant achievement.

"Although the starting order is relatively modest in size we are confident of the potential for much larger repeat orders."

At 1620 BST, shares in Verditek were down 7.84% at 8.52p.

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