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Shares in Verditek PLC leaped on Monday morning after the solar panel maker announced its role as exclusive supplier to a new joint venture.
Shares in Verditek were up 51% at 2.71 pence on Monday morning in London.
Verditek said it became the exclusive supplier of lightweight solar panels to a joint venture between its distribution partner Bradclad Group and Norwegian PVC single-ply roof membrane manufacturer Protan AB.
The joint venture will use Verditek's panels to launch the Protan Solarbond product. Samples will be delivered over the course of this month to 35 of Protan AB's European sales representatives as they roll this product out across the continent.
Chief Executive Rob Richards said: ‘Following extensive development with our partner, the company is now poised to enter the large-scale industrial market with its light-weight solar product partnering with one of Europe's major membrane roofing manufacturers.
‘With ever increasing energy prices, more and more factories and warehouses need to install solar systems to remain competitive and this cost effective lightweight solution is ideal for both new build and existing structures’
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