Stock Market News
Directa Plus enters development deal with Sartec
Graphene-based products producer and supplier Directa Plus has entered into an agreement with Sartec to jointly develop a commercial-scale industrial system, based on the company's Grafysorber product, for treating oil-contaminated produced water in the oil and gas industry, it announced on Wednesday.
The AIM-traded company described Sartec as a provider of industrial engineering to the oil, energy and environment sectors, adding that it is part of the Saras Group, the Italian listed company with a current market capitalisation of approximately 1.6bn.
It said the agreement followed initial joint research over the last eight months - the proof-of-concept phase - during which extensive tests on the company's Grafysorber product as well as the effectiveness of the continuous process equipment were successfully carried out.
The ongoing tests reportedly continued to demonstrate Grafysorber's ability to outperform existing technologies in treating oil-contaminated produced water.
In the second quarter of 2018, Sartec would commence building an industrial pilot plant, with Directa Plus providing support and expertise regarding Grafysorber.
"We are delighted to have signed this agreement with one of the leading oil & gas groups in Europe," said Directa Plus CEO Giulio Cesareo.
"This partnership represents a true technological convergence of our respective capabilities and expertise in pursuit of a common goal."
Cesareo said Grafysorber offered a "transformational solution" for the oil and gas industry in treating produced water.
"The development of this new continuous process by Sartec is the ideal solution to bridge the gap between our unique Grafysorber product and its application in a huge market.
"We are excited about the prospects for this project and look forward to reporting our progress."
The AIM-traded company described Sartec as a provider of industrial engineering to the oil, energy and environment sectors, adding that it is part of the Saras Group, the Italian listed company with a current market capitalisation of approximately 1.6bn.
It said the agreement followed initial joint research over the last eight months - the proof-of-concept phase - during which extensive tests on the company's Grafysorber product as well as the effectiveness of the continuous process equipment were successfully carried out.
The ongoing tests reportedly continued to demonstrate Grafysorber's ability to outperform existing technologies in treating oil-contaminated produced water.
In the second quarter of 2018, Sartec would commence building an industrial pilot plant, with Directa Plus providing support and expertise regarding Grafysorber.
"We are delighted to have signed this agreement with one of the leading oil & gas groups in Europe," said Directa Plus CEO Giulio Cesareo.
"This partnership represents a true technological convergence of our respective capabilities and expertise in pursuit of a common goal."
Cesareo said Grafysorber offered a "transformational solution" for the oil and gas industry in treating produced water.
"The development of this new continuous process by Sartec is the ideal solution to bridge the gap between our unique Grafysorber product and its application in a huge market.
"We are excited about the prospects for this project and look forward to reporting our progress."
Related share prices |
---|
Directa Plus (DCTA) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price