(Sharecast News) - Graphene specialist Directa Plus has signed a technical and commercial agreement with automotive design and engineering company Italdesign.
The AIM-traded firm said Italdesign, part of Volkswagen, also specialises in styling, engineering, prototyping and testing services, and the manufacture of ultra-low series production (ULSP) vehicles.
It said the partnership was signed for an initial nine years to explore, test and build automotive components that would be enhanced by the properties of its proprietary graphene technology.
Applications could include car interiors, paints, and mechanical components.
"Italdesign is an unquestioned leader in automotive design and engineering, having played a part in the design in some of the world's highest performing, and highest selling cars over the last 50 years," said chief executive officer Giulio Cesareo.
"It is a pleasure to be able to work with some of the finest minds in the automotive industry to realise the benefits and enhancements that graphene can bring to motor vehicles.
"This is a key step in bringing Directa Plus's expertise in graphene manufacturing and product engineering into an automotive industrial vertical, and we are confident this agreement will prove an excellent foundation for future growth in the sector."
At 1326 BST, shares in Directa Plus were up 6.63% at 77.84p.
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