Directa Plus PLC Grant Award for Textiles Project

TIDMDCTA

Directa Plus PLC

20 February 2017

20 February 2017

Directa Plus plc

("Directa Plus" or the "Company")

Grant Award for Textiles Project from European Regional Development Fund

Directa Plus (AIM: DCTA), one of the largest producers and suppliers of graphene-based products for use in consumer and industrial markets, is pleased to report the award of a grant by the European Regional Development Fund via the Lombardy regional government in respect of a EUR1m project for technological innovation in smart fabrics.

Directa Plus has been allocated a grant for a research project into Graphene for Advanced Textiles and Fashion ("GRATA"), which has been awarded under a competitive public tender by the regional Italian government of Lombardy. The project is a collaboration between Directa Plus, Novaresin and Soliani companies and the Politecnico of Milan university, with Directa Plus as project leader. The project will focus on the development of G+ membranes to enhance the thermal and electrical performance of textiles for fashion applications. The total value of the project is expected to be approximately EUR1m, of which 40% will be funded by the European Regional Development Fund via the Lombardy regional government. The Company expects to invest EUR308k and receive a grant of EUR126k following the completion of the project in December 2018.

This grant is aligned with Directa Plus' textile market development strategy and will serve to reduce the cost to the Company of developing its range of textile products. In addition, management has already identified several potential customers to which the Company will be able to market the results of the GRATA project.

Giulio Cesareo, Chief Executive Officer of Directa Plus, said: "Over the last six months we have made tremendous progress in the textiles segment, which has seen the launch of several customers' end-products as well as an increasing pipeline of near- and medium-term commercial opportunities. With the award of this grant, we have a great opportunity to further develop our range of textile products to meet the demands of the textile industry for technological innovation in smart fabrics."

Enquiries

 
 Directa Plus plc 
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 Giulio Cesareo, CEO 
  Marco Ferrari, CFO                      [phone] 
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 Cantor Fitzgerald Europe (Nominated 
  Adviser and Broker) 
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 Marc Milmo, David Foreman, Michael 
  Reynolds (Corporate Finance)            [phone] 
  Mark Westcott, David Banks (Sales)       7000 
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 Luther Pendragon (Financial PR) 
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 Harry Chathli, Claire Norbury, Alexis    [phone] 
  Gore                                     9100 
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About Directa Plus

Directa Plus is one of the largest producers and suppliers of graphene-based products for use in consumer and industrial markets worldwide. By incorporating Directa Plus' unique graphene blends, identified by the G+ brand, its customers can enhance the performance of their end products without significantly increasing their cost. Directa Plus graphene-based products are natural, chemical-free, sustainably produced and tailored to specific customer requirements for commercial applications such as smart textiles, tyres, composite materials and environmental solutions.

Established in 2005, the Company has a patented technology process and a scalable and exportable manufacturing model. It produces graphene-based products at its own factory in Lomazzo, Italy, and can set up additional production at customer locations to reduce transport costs, waste and time-to-utilisation. Directa Plus partners with customers to enable them to offer the high-performance benefits of graphene in their own products.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 20, 2017 02:01 ET (07:01 GMT)