LONDON: Directa Plus, a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, today announced that it is has entered into a conditional agreement to acquire 51 percent of the issued share capital of Setcar S.A., a Romanian waste management and decontamination services business, for a total cash consideration of €4.1 million.

In addition the Company announced a conditional placing of new ordinary shares in the Company and the launch of an open offer to raise up to £8.24 million before expenses.

Giulio Cesareo, Chief Executive Officer of Directa Plus, commented: “This is a transformational transaction for Directa Plus. Just as we are seeking to do in textiles, we are now proposing to take more control of the environmental supply chain to capture maximum value from the commercial offering made possible by our Grafysorber technology.

“We are acquiring the expertise, the engineering ingenuity and the ability to operate from a well-established service provider which will drastically reduce the time to capture a share of the large global market for hydrocarbon remediation and recovery. Setcar is being jointly acquired with GVC, a company owned by the ultimate beneficial owner of GSP Group. Our Industrial partner will bring us important commercial relationships which will enable us to enter and grow in this market.”