Directa Plus PLC (AIM:DCTA, OTC:DTPKF) said it extended a commercial supply agreement with Italian workwear company Alfredo Grassi SpA and announced the grant of a US patent for golf balls containing graphene.
The new agreement grants Grassi use of Directa Plus' proprietary Graphene Plus Thermal Planar Circuit (PTC) print textile technology for the workwear market in France and Italy for a period of two years, the maker of graphene nanoplatelets-based products for use in consumer and industrial markets said.
"Grassi has been an important partner of ours for a number of years, and it is clear that both sides see the benefits of continuing to build on our close commercial relationship with each other," said Giulio Cesareo, chief executive of Directa Plus.
"The workwear sector continues to be of strategic importance to Directa, and the supply agreement with Grassi is another important step forward in building market share and increasing revenues from this segment."
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Directa said the supply agreement is expected to be a significant boost to its estimated workwear income in 2022, which is already forecast to double year on year, with €450,000 orders planned for the second half of 2022.
“We are very pleased to extend our partnership with Directa Plus and we believe the collaboration will further strengthen the growth of both companies, while keeping a focus on environmental and social sustainability," said Roberto Grassi, president of Alfredo Grassi.
Directa Plus also revealed that it has been granted a US patent titled ‘Golf ball comprising graphene’, which will allow the company to license its technology in the critical US market.
It is looking for partners to bring this technology to market.
The patent covers a variety of formulations containing G+ graphene nanoplatelets for application within the golf ball.
“The use of G+ compounds in golf balls at different loadings has the promise of developing a whole new range of golf balls for professionals and amateurs,” Directa said, adding that different G+ graphene compounds within the golf ball “will enable professionals to increase distance without losing lateral control or increase overall control of the golf ball for amateurs”.
The global golf ball market was valued at US$1.11bn in 2017, with a forecast compound annual growth rate (CAGR) of 2.7% from 2018 onwards, it noted.