Directa Plus PLC Award of Environmental Services Contract (1229W)
December 09 2019 - 2:00AM
UK Regulatory
TIDMDCTA
RNS Number : 1229W
Directa Plus PLC
09 December 2019
9 December 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF
THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Directa Plus plc
("Directa Plus" or the "Company")
Award of First Offshore Oil Decontamination and Recovery
Contract
Directa Plus (AIM: DCTA), a leading producer and supplier of
graphene nanoplatelets based products for use in consumer and
industrial markets, announces that its newly acquired subsidiary
Setcar (to be renamed Directa Environmental Services) has been
awarded a contract ("the Contract") to provide a suite of
environmental decontamination services on the Trinity - 1X gas
project in Block 30 offshore Romania. The Contract covers the
three-month period to the end of February 2020 for the appraisal by
GSP, the general contractor, of the Trident gas field contained in
Block 30 in water depth of some 1,000 meters. Lukoil and Romgaz are
the operators of Block 30. The value of the Contract is estimated
to be approximately US$1 million.
The award of the Contract reflects Setcar's more than 25 years
of experience as a service provider to the Romanian onshore oil and
gas industry and the advantages of using Directa Plus's unique
graphene-based Grafysorber(R) technology in decontaminating water,
sludges and drilling muds containing oil. The appraisal of the
Trident gas field, with potential reserves exceeding 30 Bcm of gas,
is a complex deep-water project and can open up new and significant
offshore opportunities for Directa Plus's environmental services
offering.
The Company's proprietary Grafysorber(R) technology is a
commercially-available graphene-based solution for treating water
contaminated by 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(R)
is sustainably produced, non-flammable and reusable, with the
adsorbed hydrocarbons recoverable.
Commenting, Giulio Cesareo, Founder and CEO of Directa Plus,
said: "This contract is the first demonstration of the rationale
behind our recent acquisition. The Contract is the latest
collaboration with our partners GSP and is our first offshore, deep
water contract. It will provide valuable experience to help
accelerate the growth of our graphene-based decontamination
services business in the oil and gas space.
"It is also a demonstration of our strategy to make our own
future less dependent on others by capturing the maximum value from
the supply chains we enter, rather than simply supplying the key
ingredients. Our technology can be applied in many different areas
and we will continue to use our deep scientific knowledge to
identify sector opportunities."
This announcement has been approved by Giulio Cesareo, Chief
Executive, on behalf of the Company.
For further information please visit
http://www.directa-plus.com/ or contact:
Directa Plus plc +39 02 36714458
Giulio Cesareo, CEO
Marco Ferrari, CFO
Cantor Fitzgerald Europe (Nominated Adviser
and Joint Broker) +44 20 7894 7000
Rick Thompson, Philip Davies Will Goode(Corporate
Finance)
Caspar Shand Kydd (Sales)
N+1 Singer (Joint Broker) +44 20 7496 3069
Mark Taylor, Lauren Kettle
Tavistock (Financial PR and IR) +44 20 7920 3150
Simon Hudson, Barney Hayward, 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(R) 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.
-ends-
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END
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