(Alliance News) - Directa Plus PLC on Wednesday said that it has been awarded a project tender by the Lombardy Region in Italy, as part of its research and innovation programme.
According to the London-based graphene product maker, the tender is to further develop its Graphene Plus air filtration applications. The Ricerca & Innova - or research and innovation - programme aims to support investments in industrial research, experimental development and process innovation by companies based in Lombardy.
The project will last for 18 months, and has a total value of around EUR400,000, which includes a non-repayable grant of EUR142,500, and a zero interest loan of EUR264,642, to be repaid over seven years.
Directa said the award would allow it to continue investing and developing its air filter applications. The company has been working on the development of Graphene Plus air filters since 2020, after commercialising the Co-Mask in the fight against Covid-19.
"We are excited to have been awarded this project tender by the Lombardy local government which recognises our commitment to innovation and developing advanced technologies. It will enable Directa Plus to further invest in and develop an innovative product enhanced by the unique properties of Graphene Plus at a faster rate than previously possible and strengthen our position in fast growing markets," said Chief Executive Officer Giulio Cesareo.
Directa shares were trading 5.1% higher at 62.00 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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Directa Plus (DCTA)