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(Alliance News) - Directa Plus PLC on Monday said it has signed a supply agreement and a strategic research & development deal with Nevada, US-based lithium firm NexTech Batteries Inc.
The producer and supplier of graphene nanoplatelets based products said the supply agreement has an initial duration of three years, with an option to extend for an additional two years by mutual agreement and governs the provision of a specific grade of G+ pristine graphene nanoplatelets by Directa Plus to NexTech.
Under the supply agreement, Directa Plus will supply NexTech with 300 kilograms of nanoplatelets in 2021, with quantities for delivery in each subsequent year to be agreed between the parties at the end of each year.
The research & development deal also has a duration of three years, Directa Plus said, and provides for joint laboratory activities, with the intention of developing new specific grades of G+ graphene nanoplatelets for a next generation of NexTech's Li-S batteries.
"These exclusive supply and strategic research & development agreements represent the latest stage in an exciting partnership between Directa Plus and NexTech," said Directa Plus Chief Executive Giulio Cesareo.
"We both believe that lithium-sulphur batteries have the potential to become deployed worldwide in multiple applications as we transition to net zero. Batteries that do not use cobalt, but waste sulphur, also represent a more environmentally sustainable choice in keeping with our core values," added Cesareo.
AIM-listed Directa Plus shares were trading 9.2% higher in London on Monday at 142.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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