Verditek Plc (AIM:VDTK) LOI signed with Industrial Climate Solutions Inc

Verditek plc, (AIM: VDTK), the clean technology company, is pleased to announce that, further to the announcement made on 29 November 2017, its group company Westec Environmental Solutions (“WES”) has signed a Letter of Intent (“LOI”) with Industrial Climate Solutions Inc. (“ICSI”) to develop and enter into a licence agreement for the commercialisation of WES’ CO2 absorber technology.

ICSI is a Canadian company focused on the development and commercialisation of industrial process equipment and technologies to address greenhouse gas emissions at an industrial scale. WES will work with ICSI for the commercialisation of its CO2 absorber technology, as well as providing technical support. Initial products will focus on gas/liquid contactors for flue gas scrubbing, CO2 capture, industrial gas processing and air quality applications.

WES‘ patented absorption technology, which comprises a uniquely developed contactor, offers new solutions that optimise the mass transfer of gas/liquid for industrial emissions/control and for CO2 capture. Currently WES’ technology is in the penultimate phase of its optimisation pilot project, carried out in collaboration with SINTEF (Norway’s largest research institute for energy and climate technology) and one of Canada’s CMC Research Institutes, the Carbon Capture & Conversion Institute (CMCRI CCCI), prior to scale-up to full industrial volumes.

Theo Chapman, CEO of Verditek plc said:

“We are delighted to be working with ICSI who bring a wealth of knowledge and experience in helping us bring our technology to market. This commitment reflects the strong progress the team at WES continues to make and validates the significant performance improvements our technology offers compared to conventional technologies. We look forward to finalising the binding agreement with ICSI and updating shareholders in due course.”

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Share Talk
Share via
Copy link
Malcare WordPress Security