The graphene specialist said 51%-owned Setcar’s revenue had risen to €3mln from €2.6mln in the period January 1 to October 1, 2020, despite coronavirus (COVID-19 headwinds.
Over that period, Setcar had won 132 new contracts and been awarded 32 out of 77 tenders, Directa noted.
Setcar’s contracted orders are now expected to generate revenue of €4mln during 2021 and €3mln during 2022.
In a statement, Giulio Cesareo, Directa Plus chief executive said: "We are delighted with the performance of Setcar. Since acquiring the company, our strategy has been to capture new high potential business opportunities leveraging on our patented Grafysorber technology and we are now working to expand Setcar's product offer with the addition of our other G+ products.
“This success is a reflection of the growing strength of Directa Plus in the environmental vertical.”