Directa Plus

Directa Plus PLC said that it expects to underperform against market expectations as it posted a larger interim loss, citing shorter term headwinds and an extended timeline for the award of a substantial tender for its subsidiary Setcar, which deals with the decontamination of industrial plants and environmental services.

The Company said pretax loss widened to €2.5 million in the first half of 2024, from €1.9 million a year ago. Revenue fell 26% to €3.4 million from €4.6 million. Employee benefit expenses increased to €2.3 million from €2.2 million. Costs for raw materials and consumables decreased to €1.5 million from €2.2 million.

National Highways has reportedly launched a further graphene-enhanced asphalt trial, this time on a one-kilometer section of the A12 between Hatfield Peverel and Witham, east of England. The first trial came in August 2021, when graphene was added to bitumen on the A1 in the North East.

The latest project saw a new surface laid on the A12 northbound, containing 40% reclaimed asphalt - thought to be the highest level ever used in the UK for asphalt with graphene-enhanced polymeric modifier. The performance will be monitored over several years by AtkinsRéalis, which will look at its carbon footprint and whole-life benefits, measuring it against a control section of standard polymer-modified bitumen asphalt.

Directa Plus has announced plans to raise between GBP6.8 to GBP6.9 million (between USD$8,663,000 - USD$8,800,000).

Cavendish Capital Markets Ltd and Singer Capital Markets Securities Ltd are acting as joint brokers to the placing. Nant Capital, the largest shareholder in Directa Plus, agrees to take part in this raise. 

Directa Plus has announced that its collaboration with Iterchimica to develop and produce Gipave, a Green Asphalt embedded with G+ graphene, has achieved another important milestone - it has been chosen for an extensive resurfacing operation in Rome, ahead of the 2025 Jubilee.

Anas, the Italian public road company, has awarded the contract for a resurfacing operation to cover c.15 kilometers of historical routes, using Gipave technology. Gipave is enriched with Directa Plus' graphene and hard recycled plastics, which increases a roads lifespan by up to 61% compared to current market technologies.

Directa Plus has entered a €1 million loan agreement with Nant Capital LLC. The funding will be used to complete the final payment for the acquisition of Setcar SA. Directa Plus previously agreed to buy a stake in Setcar, the group's environmental services subsidiary, for €1.5 million, which took Directa Plus' holding to just under 100%.

Nant is owned by Patrick Soon-Shiong, and together with Soon-Shiong it holds 28.73% of the share capital of Directa Plus.

Directa Plus recently announced a new collaboration with Heathcoat Fabrics that aims "to drive groundbreaking advancements in technical textiles". Heathcoat Fabrics is a manufacturer of advanced knitted and woven fabrics located in Tiverton, England.

The company said: "Integrating Directa Plus' G+ Planar Thermal Circuit technology into Heathcoat fabrics portfolio is central to this collaboration. This union is optimized to provide excellent thermal dissipation properties, helping to control and regulate the user's body temperature...It also enables strong surface resistivity, making it suitable for various anti-static applications."

Directa Plus and Chronos Corps have launched a high-tech bag with graphene and fingerprint opening.  

Launched just in time for Fashion Week, this collaboration blends fashion and technology, showcasing the versatility of Directa Plus materials. Crafted with Coating G+®, a special water-based coating enriched with Graphene Plus, this bag not only boasts a sleek design but also offers unmatched functionality, including antimicrobial protection (antibacterial and antiviral), UV resistance, abrasion resistance, antistatic properties and thermal conductivity. It also has advanced fingerprint recognition for secure access.

Directa Plus reported its preliminary financial results for 2023, saying that revenue grew to about €11 million and its loss reduced by about 20% from 2022.

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Directa Plus says that it has made strong progress in 2023, as it secured new contracts across key geographies and in all verticals, including a €5.5 million three-year deal with Liberty Galati.

Directa Plus has revealed that it has signed a deal with an unnamed Italian innovator to buy the technology for a system capable of preparing tailored graphene compounds. According to the Company, this technology will initially be used in batteries and polymers.

It explained that the acquired know-how and technology would help to enable the dry encapsulation of G Plus graphene nanoplatelets into different compound carriers for different exacting applications.

Directa Plus has announced a significant expansion of its collaboration with CIA Miguel Caballero, a prominent manufacturer of bulletproof vests and personal protective equipment (PPE).

Directa Plus began collaborating with CIA Miguel Caballero in July 2022, supplying advanced graphene-based textile solutions that enhance the performance and comfort of bulletproof vests. The collaboration is reportedly entering a new phase of growth, solidifying the Group's position as a partner in CIA Miguel Caballero's product innovations.