Directa Plus wins new order from bicycle tyre manufacturer Vittoria

AIM-listed Directa Plus, a producer and supplier of graphene-based products, has received an order from Vittoria to supply 250 kilos of its Graphene Plus (G+) for incorporation into its range of graphene-enhanced bicycle tyres and wheels.

The order, which is due to be delivered in the first quarter of 2018, follows the receipt of a smaller order earlier in the year and the company expects to receive further orders next year. Vittoria is Directa's longest established partner, having first officially engaged in a collaboration back in 2012 which led to the launch of multiple award-winning ranges of high-performance bicycle tyres and wheels incorporating G+.

G+ is used to enhance the performance and reliability of tyres and wheels in Vittoria's on-road and off-road collections. In particular, the incorporation of G+ in the tyres and wheel trims offers improved speed, grip, strength and increased puncture resistance.

Directa chief executive officer Giulio Cesareo said: "We are pleased to have received this order for our Graphene Plus from one of our long-term partners. This strengthens our belief that the quantity of graphene-based products sold by Directa Plus for commercial use this year ranks amongst the largest in the market.

"It also speaks to the strong relationship that we have with the team at Vittoria and the confidence that they have in the benefits of our G+, which has been demonstrated over a number of years. As we enter 2018, we look forward to delivering on this contract and to further progress being made in the work we are doing in the textile and environmental sectors."

At 1030 GMT, the shares were down 2.1% to 46p.