REG - Directa Plus PLC - Setcar secures a new contract win and a renewal

Directa PlusAnnouncement

10/02/2025 07:00

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RNS Number : 4079W  Directa Plus PLC  10 February 2025

10 February 2025

 

 

Directa Plus plc

("Directa Plus", the "Company" or the "Group")

 

Setcar secures a new contract win and contract renewal

 

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene-based
products for use in consumer and industrial markets, announces that Setcar,
the Group's environmental subsidiary, has secured a new €1.5m contract win,
with Midia International SA, and $1.1m contract renewal, with Ford Otosan.

 

New contract with Midia International SA

Setcar has secured an initial agreement with Midia International SA for a
total amount up to $1.5m to provide tank cleaning and waste disposal services
as part of an offshore drilling campaign in the Black Sea, specifically the
Trident EX30 block. Setcar being selected as the main subcontractor for the
project is testament to its expertise in environment services and its ability
to support large-scale energy operations.

 

The drilling campaign is scheduled to be completed in the second half of 2025
and Setcar will perform its services both onshore and on the offshore mobile
drilling unit, to ensure comprehensive support throughout the duration of the
project.

 

The project will involve the use of Sectar's proprietary Grafysorber
technology to treat the contaminated water. This innovative approach
effectively removes oil contaminants, ensuring compliance with environmental
standards and contributing to sustainable practices in offshore operations.

 

Contract renewal with Ford Otosan

Setcar renewed its contract with its long-standing client, Ford Otosan, an
automotive business in Romania owned by Ford Motor Company, for the sixth
time, for c. €1.1 million. Setcar will continue to deliver Total Waste
Management services, including waste disposal, transportation, treatment,
recycling, equipment, and personnel.

 

Giulio Cesareo, Founder & CEO of Directa Plus, said: "We are seeing
traction build in Environmental contracts, with both new and long-standing
clients. These contract wins are testament to the value delivered by Setcar's
innovative solutions and the Group's growing pipeline of opportunities. In
June 2024, Directa Plus increased its stake in Setcar in order to improve its
performance and deliver greater returns to shareholders. We see compelling
growth opportunities in this area, as indicated by these contract wins."

 

 

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

 

 Directa Plus plc                                          +39 02 36714458
 Giulio Cesareo, CEO
 Giorgio Bonfanti, CFO

 Singer Capital Markets                                    +44 20 7496 3069
 Rick Thompson

 Phil Davies

 Alma Strategic Communications (Financial PR and Adviser)  +44 20 3405 0205
 Justin James                                              directaplus@almastrategic.com

 Hannah Campbell

 Kinvara Verdon

 

About Directa Plus

Directa Plus (www.directa-plus.com) is one of the largest producers and
suppliers of graphene-based products for use in consumer and industrial
markets. The Company's graphene manufacturing capability uses proprietary
patented technology based on a plasma super expansion process. Starting from
natural graphite, each step of Directa Plus' production process - expansion,
exfoliation and drying - creates graphene-based materials and hybrid graphene
materials ready for a variety of uses and available in various forms such as
powder, liquid and paste.

 

This proprietary production process uses a physical process, rather than a
chemical process, to process graphite into pristine graphene nanoplatelets,
which enables Directa Plus to offer a sustainable, non-toxic product, without
unwanted by-products. Directa Plus' products are made of hybrid graphene
materials and graphene nano-platelets. The products (marketed as G+®) have
multiple applications due to its properties. These G+® products can be
categorised into various families, with different products being suitable for
specific practical applications.

 

Directa Plus was established in 2005 and is based in Lomazzo (Como, Italy) and
has been listed on the AIM market of the London Stock Exchange since May
2016. Directa Plus' shareholding in Setcar increased from 50.99% to 99.95% in
February 2024.The Company holds the Green Economy Mark from London Stock
Exchange which recognises companies that contribute to the global green
economy.

 

 

 

 

 

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