Directa Plus PLC (LON:DCTA) shares rose on Tuesday as the firm said its new financial year has “started well” and that sections of road will be laid in Italy, UK, USA and Oman this summer with asphalt strengthened by the addition of its graphene technology.
The trials of the Ecopave asphalt additive that follow on from a successful 1km test-run with partner Interchimica in Italy, are among several projects making progress in the AIM-listed company’s four key vertical markets: textiles, environmental, composites and elastomers.
“2019 has started well for us with our strategy continuing to deliver and we expect to make good progress in all of our key vertical markets,” said chief executive Giulio Cesareo in a statement ahead of the group's annual shareholder meeting on Tuesday.
“Our international footprint is expanding - the visibility of Directa Plus and our products in the world's largest market for graphene, the United States, has increased materially as a result of our initiatives with the US Graphene Association.”
In the textiles segment, Directa and a key luxury customer are planning to launch the first textile enhanced by Directa Plus's G+ technology at the Milano Unica exhibition at the beginning of July, while elsewhere the launch of graphene-enhanced denim last year has inspired discussions over other potential collaborations.
In the environmental space, the company’s Grafysorber pollutant adsorber product is to be marketed as a full decontamination service for its to international oil and gas and marine markets, which is thought would allow Directa Plus to capture significant additional value for shareholders.
In composites and elastomers, as well as the asphalt additive trial, testing of retread tyres on a passenger bus in Milan is almost complete and final results are expected by the beginning of September.
In early trading, shares in Directa Plus were 0.6% higher at 83p.
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