Directa Plus shares gain as it expands into US defence sector via new partnership with Spectrum
() , a producer and supplier of graphene nanoplatelet-based products, announced a new collaboration with the SPECTRUM Group, a US strategic advisory and government relations firm, to explore the potential of its G+ technologies in the US defence sector. G+ refers to Directa's proprietary graphene material and associated products.
Through the partnership, Directa Plus has been invited to attend the Association of the US Army Annual Meeting in Washington DC in October where the company will have a chance to engage with US federal entities and explore further potential partnerships and opportunities in the US federal sector.
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This is a key milestone for Directa as it expands into the US military technology sector where its disruptive graphene technology can find multiple applications. As part of the partnership, Spectrum can leverage its extensive network to support Directa in driving this expansion. Spectrum is already well familiar with Directa's G+ textile and Grafysorber products and their potential applications in the US defence sector. The partnership was facilitated by Gen. Wesley K. Clark who joined Directa's board in October 2022.
Outside of the military, Spectrum's customers include startups, Fortune 500 companies, government entities at various levels, and international organisations. The collaboration will involve joint efforts in product development, particularly of G+ textile technologies such as thermal management, antistatic, antimicrobial, and thermal camouflage solutions. This should materially accelerate Directa's expansion into the US personal protection and defence sectors.
In its most recent final results for FY22, Directa saw product sales and service revenue increase by 26% to €10.86m, slightly above market expectations. Broker Cenkos expects sales to climb further to €13.3m this year, more than halving the adjusted EBITDA loss to €1.5m, and that the company will become EBITDA positive in 2024. Directa remains well-funded with cash of €5.73m at year-end.
shares climbed 6.45% on today's announcement.
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