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Award of Oil Decontamination and Recovery Contract

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RNS Number : 9451G
Directa Plus PLC
29 July 2019
 

29 July 2019

 

Directa Plus plc

("Directa Plus" or the "Company")

 

Award of 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 been awarded a supply and service contract ("the Award") to treat and recover crude oil from producing wells onshore Europe. The Award, commencing on 1 August 2019, is to treat several thousand cubic meters of sludges and by-products for a value of approximately €150,000 over the next six months, using the Company's Grafysorber® technology.  Directa Plus will provide a full service to the customer, an international oil and gas company, supplying a mobile treatment unit and operating the recovery process.

 

Directa Plus and the customer expect that the application of the Grafysorber® technology will both improve the production process and potentially reduce costs through recovering crude oil from sludges and water associated with extraction and avoiding disposal as an untreated waste.  In addition, the treatment will improve the quality of the water injection to stimulate production which will help to meet environmental regulations and reduce usage of water resources.  

 

The Award is in line with the Company's previously announced strategy to offer a full decontamination and recovery service for its Grafysorber® pollutant adsorber product to international oil and gas and marine markets in order to capture significant additional value for shareholders.

 

The Company's proprietary Grafysorber® technology is a commercially-available graphene-based solution for treating water contaminated by 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: "Our commercialisation strategy for the key environmental sector is based on providing international oil and gas customers with a complete environmental solution and service based on our patented Grafysorber® technology.

 

"I am pleased that we can today announce the first of what we hope will be a growing number of supply and service contracts with oil and gas producers as we seek to expand this business regionally and then globally."

 

For further information please visit http://www.directa-plus.com/ or contact:

 

Directa Plus plc

+39 02 36714458

Giulio Cesareo, CEO

 

Marco Ferrari, CFO

 

 

 

Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)

+44 20 7894 7000

Rick Thompson, Philip Davies Will Goode(Corporate Finance)

 

Caspar Shand Kydd (Sales)

 

 

 

N+1 Singer (Joint Broker)

+44 20 7496 3069

Mark Taylor, Lauren Kettle

 

 

 

Tavistock (Financial PR and IR)

+44 20 7920 3150

Simon Hudson, Barney Hayward, Edward Lee

 

 

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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Price: 77.5

Market: AIM
Market Cap: £47.27 m
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