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Directa Plus plc
(“Directa” or the “Company”)
Agreement in Principle to Supply Graphene for Use in Lithium Sulphur Batteries
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, is pleased to announce that the Company has signed a non-binding Memorandum of Understanding (“MOU”) with NexTech Batteries (“NexTech”), a leading company in the field of Lithium Sulphur batteries based in Nevada, US.
Under the terms of the MOU, Directa and NexTech will collaborate on activities aimed at securing the supply to NexTech of Directa’s G+ pristine graphene nanoplatelets, a key raw material for manufacturing the cathode of Lithium Sulphur batteries.
The parties have agreed to form a steering committee which will be responsible for establishing an action plan together with timelines for all relevant activities under the MOU. Subject to the achievement of minimum sales orders, Directa Plus has granted NexTech an exclusivity period of five years in the field of Lithium Sulphur batteries.
Prior to entering into the MOU, NexTech has completed significant test work which has validated the suitability of the Company’s G+ materials for Lithium Sulphur battery production. In addition, NexTech is in the process of scaling up its production unit in order to meet increasing demand from customers for its batteries.
NexTech was founded in 2016 and owns the exclusive license to the intellectual property relating to Lithium Sulphur batteries, developed by the Lawrence Berkeley National Lab, a US Department of Energy Office of Science laboratory, managed by University of California.
Lithium Sulphur batteries are considered to be a superior battery technology to Lithium Ion battery technology due to possessing a superior energy density, a significant cost advantage, a superior safety profile, and a less complex manufacturing process.
A formal arrangement for the supply of the Company’s G+ products to NexTech will be subject to the negotiation and execution of a definitive, binding Supply Agreement. Further announcements regarding the progress of the negotiations in relation to such binding documentation will be made, as appropriate.
Giulio Cesareo, Chief Executive of Directa Plus, commented: “We are very pleased to have reached this agreement with NexTech, and we look forward to concluding the details of the Supply Agreement during the next stage of negotiations.
“Environmental sustainability is at the heart of Directa’s purpose, and a successful global transition away from fossil fuels to renewable sources of energy is one of the most important environmental challenges the world faces. Better battery technology and more widespread deployment are vital to achieving these goals and NexTech is at the forefront of that process.”
Bill Burger, Chief Executive of NexTech, commented: “We are very excited about the opportunity we have to leverage Directa’s materials know-how and apply it to the field of energy storage, and we look forward to seeding the market with next generation batteries making energy storage affordable for everybody.”
“Electric mobility is at the heart of NexTech’s purpose, and making batteries affordable, sustainable and safe are some of the most important technological challenges we face. Better battery materials and higher energy density are clearly key to achieving these goals and Directa and NexTech will make such materials a reality.”
For further information please visit http://www.directa-plus.com/ or contact:
Directa Plus plc | +39 02 36714458
Giulio Cesareo, CEO
Marco Ferrari, CFO
Cenkos Securities plc (Nominated Adviser and Joint Broker) | +44 131 220 6939
Neil McDonald
Pete Lynch
N+1 Singer (Joint Broker) | +44 20 7496 3069
Rick Thompson
Phil Davies
Tavistock (Financial PR and IR) | +44 20 7920 3150
Simon Hudson
Edward Lee
NexTech Batteries Inc. | +1 408 892 8992
Bill Burger, CEO
Fabio Albano, CTO
About Directa Plus
Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product) and textiles (based on our G+ products). In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+ products. All our products are hypoallergenic, non-toxic and sustainably produced.
About NexTech Batteries
Founded in 2016, NexTech is the industry leader in Lithium-Sulfur (Li-S) battery technology. Owns the exclusive license to Lawrence Berkeley National Lab’s Li-S battery intellectual property. Li-S is a superior battery technology to Lithium-Ion (Li-ion) with 5X theoretical specific energy (Wh/kg) and a superior safety profile not prone to thermal runway, full recyclability and 50% lower manufacturing cost. The company has extended the capabilities of the technology tremendously and made headways in scaling up both the raw materials synthesis and the prototype battery development. NexTech is in the process of scaling up its manufacturing in order to meet increasing demand from customers for its batteries.