Directa Plus inks commercial deal with REDA Energy

19th Jul 2022 16:18

(Sharecast News) - Graphene nanoplatelet technology company Directa Plus has signed a commercial agreement with REDA Energy, it announced on Tuesday, to distribute 'Grafysorber' oil response products in certain territories.

The AIM-traded firm described the REDA Group division as a "leading tier 1" chemical manufacturer, and a supplier of products and services to the global oil and gas sector.

It said the agreement followed successful testing of the products by REDA customers in the North Sea.

The first order from REDA for Grafysorber products predated the agreement, and was delivered in June, comprising "thousands" of pillows and barriers.

REDA would place a second similar order to build a minimum safety stock of products to cover northern Europe, and would start distribution of the products to customers.

"Our environmental strategy is to offer our partners products designed to help their customers to achieve their sustainability targets more easily, more cheaply and faster," said founder and chief executive officer Giulio Cesareo.

"The agreement with REDA represents an important milestone in the commercialisation of Grafysorber products in international oil producing regions with the North Sea being the first.

"REDA brings added value capabilities to this key vertical for Directa Plus, accelerating the development and growth of our products and services."

At 1501 BST, shares in Directa Plus were up 4.59% at 102.5p.

Reporting by Josh White at Sharecast.com.