Business
Significant contract secured with LIBERTY Galati
Significant contract secured with LIBERTY Galati.
About this update from Directa Plus Plc
[{"type":"text","content":"\n\nThis announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended.\n \n7 September 2023\n \nDirecta Plus plc\n(\"Directa Plus\", the \"Group\" or the \"Company\")\n \nThree-year contract secured with LIBERTY Galati for €5.5m with potential to expand to €8.0m\nSetcar secures significant contract to process oily mills sludge in steel production process.\n \nDirecta Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, is delighted to announce its environmental services subsidiary, Setcar S.A. (\"Setcar\"), has secured a three-year contract with LIBERTY Galati, the largest integrated steel producer in Romania, to provide a solution for the treatment of oily mills scale produced in the manufacturing of steel. The waste of rolling production is a mill scale (iron oxides) which is formed on the rolled product; this occurs when billets, heated to almost 1000C, pass through the rolling mill and come into contact with oxygen, oil and coolant water.\nDuring the complete rolling process, about 2.5% of the metal weight of the workpiece is slagged. \n \nThis multi-year contract has a total value of €5.5 million, with the potential for further expansion up to a total value of €8.0 million depending on rolling mills monthly production volume. Setcar's solution offered to LIBERTY Galati further leverages the use of Directa's patented Grafysorber® technology.\n \nThe Group's Grafysorber® technology provides a unique method for the removal and recovery of oil compounds from the mill sludge and facilitates the recycling of a waste product that is otherwise extremely difficult to treat. Setcar's unique processing system will enable LIBERTY Galati to convert a significant quantity of oily sludge waste into a raw material that can be re-utilised in its steel production process.\n \nThis contract, which was awarded following a public tender process, will enable Setcar to expand further its waste treatment and disposal services for industrial pollutants and broaden the range of applications for the Group's Grafysorber® technology.\n \nGrafysorber® technology is a hybrid graphene-b...