re Nextech Partnership7 Jun 2021 08:53
Believe this ones NONRNS so won't show up everywhere but great to see the partnership
Partnership with NexTech Batteries Progresses
NexTech forms Italian subsidiary to evaluate production in Europe
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that its customer NexTech Batteries Inc. ("NexTech") has formed a wholly owned Italian subsidiary, NexTech Italia SpA ("NexTech Italia"). NexTech Italia has been established with the initial objective being to evaluate the feasibility of producing cathode active materials in Italy, using Directa Plus's G+® graphene nanoplatelets, for the manufacture of Lithium-Sulphur (Li-S) batteries throughout Europe, in order to accelerate the technology's commercialisation.
The formation of the Italian subsidiary follows an MOU 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. In February 2021, the two companies entered into a three year exclusive Supply Agreement and opened a joint laboratory to conduct R&D for the development of next-generation battery cathode active material and to support the growth of current and future applications.
NexTech Italia SpA is temporarily located within Directa Plus's facilities in Lomazzo, northern Italy. The Company's experience in Italy and throughout Europe means that it is well placed to help NexTech find the right permanent location where technology and expertise converge to support NexTech's establishment and growth in Europe.
Commenting, Giulio Cesareo, Founder and CEO of Directa Plus, said: "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."
Bill Burger, Founder and CEO of NexTech, added: "With the establishment of our Italian subsidiary, NexTech Italia SpA, we want to address the huge opportunity of green industrialization using our batteries for electric transportation and other applications in Europe. Together with Directa Plus, we can supply the missing key component to support tremendous growth and widespread implementation of the safe, affordable, and sustainable NexTech battery chemistry."