Further Agreement with Arvind, Launch of G+ Jeans

RNS Number : 6909F

Directa Plus PLC

30 October 2018

 

30 October 2018

Directa Plus plc

("Directa Plus" or the "Company")

Agreement to develop graphene products for sale in India

Launch of graphene enhanced G+ jeans and jackets at Kingpins in Amsterdam

Directa Plus (AIM: DCTA), a producer and supplier of graphene-based products for use in consumer and industrial markets, announces that the Company has today signed a non-exclusive agreement ("the Agreement") with Arvind Limited ("Arvind") covering two additional vertical markets - Composites and Water Purification in India - following the collaboration between the companies in Textiles, announced in May.

Graphene denim launch

Arvind and Directa Plus launched the world's first graphene enhanced G+ jeans and jackets last week at the Kingpins Show in Amsterdam - an invitation-only denim conference and trade show attended by all the key market players with an objective of shaping the future of denim.

The Agreement

Under the terms of the Agreement, Directa Plus and Arvind will collaborate to expand their existing co-operation in textiles products to include advanced composite materials and water treatment services, using Directa Plus' G+ branded graphene products and the Company's Grafysorber® product.

The Board expects that the Agreement should help to compress the time to market for the Company's non-textile products, in securing a greater number of commercial contracts.

The Agreement was signed by Directa Plus CEO, Giulio Cesareo, and Arvind CEO, Aamir Akhtar, as part of the DST-CII India-Italy Technology Summit 2018 in New Delhi. The summit was attended by an Italian delegation led by Prime Minister, Giuseppe Conte, and by Indian Prime Minister Narendra Modi.  The Agreement was presented to the prime ministers as one of the results of the positive cooperation between India and Italy.

Graphene G+ jeans and jackets

The positive effect of printing a graphene layer on the inside of denim jeans and jackets is to increase the thermal distribution of the fabric, such that the clothes can be worn comfortably even in hot climates.

This innovation should help drive demand for jeans and other items of denim attire in India in particular, where consumers have expressed a desire for fashionable denim products compatible with hot temperatures. Working with Arvind to meet this need is in accordance with Directa Plus's strategy of capturing more value from its downstream supply chain through close co-operation with customers.

Commenting on the LOI and product launch, Giulio Cesareo, Founder and CEO of Directa Plus, said:

"Signing this agreement with Arvind will help Directa Plus expand further and faster in one of the world's biggest markets.  The India-Italy Technology Summit is an excellent opportunity for companies from two of the world's leading manufacturing nations to meet and form the basis for mutual agreement, and the support from the very top levels of government is very welcome.

"We have enjoyed close co-operation from Arvind in recent months and we are confident that our developing common understanding will help both companies meet their commercial goals. The launch of the G+ range of denimwear could prove transformational for the sale of jeans in India and elsewhere, and Directa Plus is delighted to be able to participate in that trend."

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 (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

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.

About Arvind

The Arvind group of companies has 42,000 employees across verticals ranging from retail to advanced materials, environmental and social solutions to real estate, apparel to agriculture.  Arvind Denim produces over 100 million metres of fabrics and six million pairs of jeans, and supplies a portfolio of brands that are distinctive and relevant across diverse consumers including Cherokee, Excalibur, Flying Machine, Gant, Levi's, Nautica, Pier Cardin Paris, Tommy Hilfiger and Wrangler.

 

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