Clean technology firm Verditek is set to float on London's Alternative Investment Market (Aim)

 
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New solar panel technology is one of Verditek's three business ventures (Source: Getty)

Clean technology firm Verditek has announced its intention to float on the London Stock Exchange's junior market.

The company, which is focused on what it calls "emergent and fast-growing clean technology", including next-generation solar panels, liquid gas absorption and emission control and filtration for water and air, is listing on the Alternative Investment Market (Aim) and raising £3.5m to accelerate growth, scale the business and bring its proprietary products to market.​

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Theodore Chapman, chief executive of Verditek, said the company is at a "transformational juncture".

"Verditek has been founded to bring disruptive clean technologies with possible early revenues to market whilst delivering long-term game changing technologies for the sector," said Chapman, who has worked in the industry for over two decades.

"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."

Verditek's team of industry veterans include chairman Geoff Nesbitt, who is currently the chief technology officer of Petrofac, the FTSE 250 service provider to the oil and gas industry, and non-executive director Jose Luis del Valle Doblado, who was the former global chief financial officer of Santander and chief executive of Scottish Power.

Dealings are expected to start on Aim in May 2017 with new shares priced at 10p per share.

Read more: Should you put your money in the Alternative Investment Market?

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