Environmental Sale and Participation in Trial

RNS Number : 2804I

Directa Plus PLC

23 November 2018

 

23 November 2018

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations

Directa Plus plc

("Directa Plus" or the "Company")

Environmental Sale to Offshore Drilling Company

Participation in Oil Spill Response Exercise in Oman

Directa Plus (AIM: DCTA), a producer and supplier of graphene-based products for use in consumer and industrial markets, is pleased to announce that it has signed a €200,000 contract to supply a graphene-based Grafysorber® mobile production unit and a set of G+ oil adsorption barriers to GSP Group ("GSP") for use in offshore emergency situations and to clean water in harbours and ports. 

GSP and its affiliates operate a diversified fleet which includes mobile offshore drilling rigs, offshore support vessels, construction vessels, heavy lift crane barges, ROVs and a Saturation Diving System. The company is an integrated services provider to the oil and gas industry, with a global presence.

The sale follows the successful conclusion of GSP's evaluation of the use of Grafysorber® in the removal of hydrocarbons from contaminated water from oil and gas activities.  Grafysorber® has been independently tested by ENI SpA* to demonstrate that the material performs at least four times better than the other adsorbent products currently on the market, at a very low cost to high efficiency ratio, and the adsorbed oil and the used adsorbent material can be recovered and recycled.

The Board is delighted to announce that it has been invited by Petroleum Development Oman, the leading exploration and production company in the Sultanate of Oman, to participate in a Tier 2 Oil Spill Response Exercise that will take place in Oman from 17 to 19 December 2018. The Board view the Gulf Region as a key area for the further development on its Environmental business based on the Grafysorber® product.

Commenting on the contract, Giulio Cesareo, Founder and CEO of Directa Plus, said: "We are very proud to have received our first commercial contract, marking the significant shift from successful completion of industrial tests to commercial activity offshore with GSP.  We look forward to further collaborations and demonstrations such as the one next month in Oman that could lead to further agreements with oil and gas players as we roll out our environmental services to the industry."

Gabriel Comanescu, President and CEO of GSP Holding, concluded: "The partnership with Directa Plus will further enhance the efficiency of GSP's response in case of offshore and onshore oil spills. It will also improve GSP's capabilities as an integrator of offshore services. We look forward for exploring collaborations and opportunities with Directa Plus."

* Grafysorber® adsorption capacity was independently certified by ENI SpA and the data were presented during the 6^th International Conference on Environmental Chemistry in Rome, 25-26 July 2017. 

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

Directa Plus plc	[phone]
Giulio Cesareo, CEO
Marco Ferrari, CFO
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)	[phone]
Rick Thompson, Philip Davies  Will Goode (Corporate Finance)
Caspar Shand Kydd (Sales)
N+1 Singer (Joint Broker)	[phone]
Mark Taylor, Lauren Kettle
Tavistock (Financial PR and IR)	[phone]
Simon Hudson, Sophie Praill, Edward Lee

About Directa Plus

Directa Plus is principally focussed on the two sectors in which it has a 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, the Company will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using G+ products.  All Directa Plus products are hypoallergenic, non-toxic and sustainably produced.

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