Directa Plus, contract win with FORD Otosan in Romania for €1.9m

Directa Plus PLC, a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces its environmental services subsidiary, Setcar S.A., has renewed its contract with FORD Otosan, an automotive business in Romania owned by Ford Motor Company, to deliver Total Waste Management Services (TWM) for a total value of €1.9m, all of which will be invoiced in 2024.

Following the acquisition of Setcar, the Group signed its first contract with FORD Otosan in 2020, and since then has increased the annual contract value by a total of c. 46%. This new contract will see Setcar provide a TWM service including waste disposal, transportation, treatment, recycling, equipment, and personnel, as well as leverage the use of the Group’s Grafysorber® technology. This is the fifth time the Group has renewed its contract with FORD Otosan, demonstrating its importance as part of FORD Otosan’s sustainability strategy and the appetite for the Group’s technology across its Environmental vertical.

Commenting on this Giulio Cesareo, founder & CEO of Directa Plus, said: “We’re excited to continue our work with FORD Otosan to support its waste disposal programme, which demonstrates the continued appetite for Setcar’s services and illustrates the potential for growth in our key Environmental vertical.”