Directa Plus PLC on Wednesday said it has signed a new exclusive agreement with Pigmentsolution GmbH, a European distributor of speciality chemicals and ingredients.
Directa Plus shares were up 4.4% to 101.24 pence each in London on Wednesday morning, having hit a high of 108.00p earlier. The stock is down 37% over the past 12 months.
Under the new agreement announced Wednesday, Pigmentsolution will support the development and distribution of Directa Plus’s new patented Graphene Plus product, Grafyshield G+, initially in Germany, Austria, Switzerland and Poland, with the potential for further expansion in Europe.
‘Directa Plus has invented and patented a granular semi-finished product, Grafyshield G+, which enhances anti-corrosion and flame-retardant properties to a final paint system for both water-based and solvent-based formulations,’ Directa Plus said.
It added that the product is currently under testing by ‘different major European paint producers’, with the first order of 200kg Grafyshield G+ now received from Pigmentsolution.
The contract, which is initially for 12 months, will launch in January 2023. Directa Plus noted that this will allow the company to assess the markets to build a ‘solid basis for 2024’.
The company added that the global anti-corrosion coating market is estimated to be valued at $10.1 billion, and the global flame-retardant coating market is estimated to be $4.83 billion.
Founder & Chief Executive Giulio Cesareo said: ‘Working with Pigmentsolution will accelerate time to market enabling us to bring Grafyshield G+, a potentially disruptive product, to the EU market at a faster rate and into new geographies in the future.’
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