Directa Plus PLC Grant Award for Textiles Project
February 20 2017 - 1:01AM
RNS Non-Regulatory
TIDMDCTA
Directa Plus PLC
20 February 2017
20 February 2017
Directa Plus plc
("Directa Plus" or the "Company")
Grant Award for Textiles Project from European Regional
Development Fund
Directa Plus (AIM: DCTA), one of the largest producers and
suppliers of graphene-based products for use in consumer and
industrial markets, is pleased to report the award of a grant by
the European Regional Development Fund via the Lombardy regional
government in respect of a EUR1m project for technological
innovation in smart fabrics.
Directa Plus has been allocated a grant for a research project
into Graphene for Advanced Textiles and Fashion ("GRATA"), which
has been awarded under a competitive public tender by the regional
Italian government of Lombardy. The project is a collaboration
between Directa Plus, Novaresin and Soliani companies and the
Politecnico of Milan university, with Directa Plus as project
leader. The project will focus on the development of G+ membranes
to enhance the thermal and electrical performance of textiles for
fashion applications. The total value of the project is expected to
be approximately EUR1m, of which 40% will be funded by the European
Regional Development Fund via the Lombardy regional government. The
Company expects to invest EUR308k and receive a grant of EUR126k
following the completion of the project in December 2018.
This grant is aligned with Directa Plus' textile market
development strategy and will serve to reduce the cost to the
Company of developing its range of textile products. In addition,
management has already identified several potential customers to
which the Company will be able to market the results of the GRATA
project.
Giulio Cesareo, Chief Executive Officer of Directa Plus, said:
"Over the last six months we have made tremendous progress in the
textiles segment, which has seen the launch of several customers'
end-products as well as an increasing pipeline of near- and
medium-term commercial opportunities. With the award of this grant,
we have a great opportunity to further develop our range of textile
products to meet the demands of the textile industry for
technological innovation in smart fabrics."
Enquiries
Directa Plus plc
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Giulio Cesareo, CEO
Marco Ferrari, CFO +39 02 36714458
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Cantor Fitzgerald Europe (Nominated
Adviser and Broker)
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Marc Milmo, David Foreman, Michael
Reynolds (Corporate Finance) +44 20 7894
Mark Westcott, David Banks (Sales) 7000
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Luther Pendragon (Financial PR)
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Harry Chathli, Claire Norbury, Alexis +44 20 7618
Gore 9100
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About Directa Plus
Directa Plus is one of the largest producers and suppliers of
graphene-based products for use in consumer and industrial markets
worldwide. By incorporating Directa Plus' unique graphene blends,
identified by the G+ brand, its customers can enhance the
performance of their end products without significantly increasing
their cost. Directa Plus graphene-based products are natural,
chemical-free, sustainably produced and tailored to specific
customer requirements for commercial applications such as smart
textiles, tyres, composite materials and environmental
solutions.
Established in 2005, the Company has a patented technology
process and a scalable and exportable manufacturing model. It
produces graphene-based products at its own factory in Lomazzo,
Italy, and can set up additional production at customer locations
to reduce transport costs, waste and time-to-utilisation. Directa
Plus partners with customers to enable them to offer the
high-performance benefits of graphene in their own products.
This information is provided by RNS
The company news service from the London Stock Exchange
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