Significant Tender Win

RNS Number : 7493G

Directa Plus PLC

28 July 2021

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (596/2014) WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN

28  July 2021

Directa Plus plc

("Directa Plus" or the "Company")

Significant Further Tender Win from OMV Petrom

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 won an additional tender from OMV Petrom, the largest oil and gas group in south-eastern Europe, for the provision of waste treatment services utilising the Company's Grafysorber® and the supply of related products.  The four-year contract has a total value of €3,200,000, with an invoice value of approximately €800,000 per annum, and is expected to commence in August 2021.

OMV's objectives are to improve the oil production process in one of the company's upstream production assets in Romania and to contain production costs by applying the most effective technology solution to the treatment of produced water and sludges while  preventing oil spills and providing remediation services.  It is expected that approximately 80,000 cubic meters of sludge and waste produced during the first upstream separation process will be treated over the four year contract period and that up to 20,000 tons of crude oil with impurities below 1% will be recovered and sent to the refinery.

In addition, it is expected that some 50,000 cubic meters of produced water will be treated over the same period using dedicated engineering equipment, increasing water injection quality while meeting national regulations to minimise the use of water resources.  Directa Plus will supply a total of 700 highly-performant adsorbent devices containing Grafysorber® to OMV Petrom to insulate, clean and eliminate any accidental oil spills during the workover and intervention operations, mitigating any environmental impact.

Directa Plus's patented Grafysorber® technology is a graphene-based solution for treating water sludges and emulsions containing 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: "This is our second major contract from OMV Petrom.  Repeat business demonstrates a satisfied customer which has already seen our technology and services successfully applied to their operations.

"With the recent trend of the oil price, we expect more E&P companies will find our oil recovery services attractive.  Grafysorber® is continuing to gain traction with and generate interest from the international oil and gas industry that require an environmentally friendly solution to treat produced water and sludges."

This announcement has been approved by Giulio Cesareo, Chief Executive, on behalf of the Company.

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

Directa Plus plc	[phone]
Giulio Cesareo, CEO Giorgio Bonfanti, CFO
Cenkos Securities plc (Nominated Adviser and Joint Broker)	[phone]
Neil McDonald Pete Lynch
N+1 Singer (Joint Broker)	[phone]
Rick Thompson Phil Davies
Tavistock (Financial PR and IR)	[phone]
Simon Hudson Heather Armstrong

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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