Last checked at 22 Jan 2021 07:00
22 January 2021
Directa Plus plc
("Directa Plus" or the "Company")
Addition to Oil Decontamination and Recovery Contract
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that it has had its contract (the "Contract") with OMV Petrom extended and increased. The Contract, initially awarded in July 2019, was for the provision of decontamination and oil recovery services using the Company's proprietary Grafysorber® technology.
The initial value of the contract was €150,000 (of which €75,000 was delivered and invoiced in 2020) and this has now been increased to up to €410,000, with the balance of which is expected to be fulfilled by June 2021.
The Contract relates to oil recovery from existing high-volume emulsions stored in the OMV Petrom Tank Farms in Romania. The project was paused in 2020 as a result of the pandemic but resumed in November 2020 and this month saw the treatment capacity increased to 2,000 cubic meters of emulsion per month. The extension has been agreed on the basis of the positive results to date of the Grafysorber® technology.
Directa Plus's patented Grafysorber® technology is a commercially-available graphene-based solution for treating water sludges and emulsions containing hydrocarbons and is at least five times more effective than current technologies - adsorbing more than 100 times its own weight of oil-based pollutants. In addition, Grafysorber® is sustainably produced, non-flammable and reusable, with the adsorbed hydrocarbons recoverable.
Commenting, Giulio Cesareo, Founder and CEO of Directa Plus, said: "This extension to our contract is a further demonstration of the potential of Directa's technology to capture decontamination and recovery business from the oil and gas industry worldwide. The OMV Petrom contract gives us an important reference project to help with the further roll-out of Setcar's services based on our patented Grafysorber® graphene-based technology."
This announcement has been approved by Giulio Cesareo, Chief Executive, on behalf of the Company.
For further information please visit www.directa-plus.com or contact:
Directa Plus plc | +39 02 36714458 |
Giulio Cesareo, CEO |
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Marco Ferrari, CFO |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) | +44 131 220 6939 |
Neil McDonald Pete Lynch |
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N+1 Singer (Joint Broker) | +44 20 7496 3069 |
Rick Thompson Phil Davies |
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Tavistock (Financial PR and IR) | +44 20 7920 3150 |
Simon Hudson Edward Lee |
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About Directa Plus
Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product) and textiles (based on our G+® products). In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+® products. All our products are hypoallergenic, non-toxic and sustainably produced.
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