Last checked at 7 Jun 2021 07:00
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7 June 2021
Directa Plus plc
("Directa Plus" or the "Company")
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."
For further information please visit http://www.directa-plus.com/ or contact:
Directa Plus plc | +39 02 36714458 |
Giulio Cesareo, CEO |
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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), textiles (based on our G+® products) and, more recently, lithium-sulphur batteries. 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.
About NexTech Batteries
NexTech was founded in 2016 and owns the exclusive licence to the intellectual property relating to lithium-sulphur batteries developed by the Lawrence Berkeley National Lab, a US Department of Energy Office of Science laboratory, managed by the University of California. Lithium-sulphur batteries are considered to be a superior battery technology to lithium-Ion battery technology due to possessing a superior energy density, a significant cost advantage, a superior safety profile and a less complex manufacturing process.
https://www.nextechbatteries.com/
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