(Alliance News) - Directa Plus PLC on Friday said it has won its "first major commercial contract" for Gipave, for an undisclosed amount.
Shares in the graphene-based product maker were up 15% to 87.89 pence each in London on Friday afternoon.
Gipave contains Directa's Graphene Plus, a patented asphalt concrete modifier developed by Iterchemica, with the support of Directa.
Industrial firm ASTM Group will use the product in sustainable asphalt for the A4 Torino-Milano motorway section in Italy.
Directa said the asphalt will re-use 70% of milling material from existing pavement, thereby reducing the use of new natural aggregates to only 30%. The work will involve both directions for a total of 250 kilometres, it added.
Directa said: "The presence of G plus in Gipave will guarantee greater resistance and mean a longer life span for the road. In addition, the project will deliver significant environmental benefits: energy consumption will be reduced by 90 million kilowatt hours and carbon dioxide emissions will be reduced by 18.4 million kilogrammes."
Chief Executive & Founder Giulio Cesareo said: "We are particularly proud to have assisted our partner in the evolution of this application from the trial sections demonstration projects to significant full industrial applications of G+ enhanced asphalt supermodifiers on high mileage motorways, ensuring positive impacts for the environment and local communities.
"It is a significant validation of our product with no significant impact on 2022 sales but a supply of several tons of material in 2023/2024," Cesareo said.
By Sophie Rose; sophierose@alliancenews.com
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Directa Plus (DCTA)