CLEAN technology firm Verditek, which specialises in carbon capture, solar cells and water filter deodorisation, is to float on the London Stock Exchange’s junior AIM market.

Clean technology firm Verditek is to float on London Stock Exchange’s junior AIM market

The firm is looking to raise approximately £3.5million through issuing new shares at 10p each, dealings in which are expected to commence in May.

The proceeds will be used to commercialise Verditek’s technology and provide working capital.

Stockade securities is acting as both nominated adviser and broker to the company.

Verditek believes that its liquid gas absorption technology is a game changer for the global carbon capture industry, which it says has huge growth potential due to the threat posed by continued CO2 emissions.

The firm’s Greenflex Energy business produces solar cells that it claims are more efficient, lighter and more flexible than others on the market, while its third division, BBR Filtration, has patented technology it says removes 99 per cent of hydrogen sulphide from waste water systems.

Geoffrey Nesbitt, chief technology officer at oil services group Petrofac, is to become non-executive chairman at Verditek, while former Scottish Power CEO José Luis del Valle will join as a non-executive director.

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