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(Alliance News) - Directa Plus PLC on Monday said customer NexTech Batteries Inc has established an Italian subsidiary to explore the feasibility of producing cathode active materials in Italy, where Directa Plus's graphene technology will be an important component.
The London-based producer of graphene-based products said NexTech's subsidiary, called NexTech Italia SpA, will look at producing these materials using Directa Plus's graphene nanoplatelets for the manufacture of lithium-sulphur batteries throughout Europe, "in order to accelerate the technology's commercialisation".
Directa Plus shares jumped 12% at 134.23 pence each in London on Monday morning.
The formation of the Italian subsidiary follows a memorandum of understanding between Directa Plus and NexTech, agreed in October 2020, to test G+ products in the synthesis of cathode active materials for NexTech's first generation of Li-S batteries, Directa Plus said.
Cathode materials are comprised of cobalt, nickel and manganese in the crystal structure forming a multi-metal oxide material to which lithium is added. This type of battery includes a variety of products that cater to different needs for high energy density or high load capacity, such as electric vehicles.
"This is a key building block in laying the foundation for strategic growth. We will work together with existing partners of Directa Plus, located in several countries across the European Union, to support the development of Lithium-Sulphur batteries in Europe. NexTech and Directa Plus are already working together on a number of applications including electric transportation, portable electronics and electricity grids," said Directa Plus Chief Executive Guilio Cesareo.
In February 2021, the two companies entered into a three year exclusive supply agreement and opened a joint laboratory to conduct research & development on "next-generation" battery cathode active material and to support the growth of current and future applications.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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