Directa Plus PLC (AIM:DCTA, OTC:DTPKF) said it has signed a “significant contract” with Pigmentsolution, a European distributor of speciality chemicals and ingredients, which will support the development and distribution of its new patented Graphene Plus product, Grafyshield G+.
Grafyshield G+ will initially be distributed in Germany, Austria, Switzerland and Poland, with the potential for further expansion in Europe, the company said.
"This contract is a significant win for the group, demonstrating the appetite for and competitive advantage of our product,” said Directa Plus founder and chief executive Giulio Cesareo in a statement.
Initially, the contract will run for 12 months starting in January 2023, which the company said will enable it to build a solid basis for 2024 and measure the potential for further territorial expansion.
Currently, the product is under testing by major European paint producers, with Pigmentsolution putting in the first 200kg order.
"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,” Cesareo added.
Directa said Grafyshield G+ is a semi-finished product, which enhances the anti-corrosion and flame-retardant properties of a final paint system.
The global anti-corrosion coating market is estimated to be valued at US$10.1bn, and the global flame-retardant coating market is estimated to be US$4.83bn.