Directa Plus (AIM: DCTA ), the producer and supplier of graphene nanoplatelets based products, announced today that it has been granted its sixth Chinese patent.
The group said the Chinese Patent Office’s grant will cover the use of the group’s G+® graphene technology for bicycle, motorcycle and passenger car tyres as well as truck and bus radial tyres.
The patent will cover the formula which unlocks the potential of the G+® technology for the tread component, enabling manufacturers to balance the conflicting properties of rolling resistance and grip while enhancing both, this morning’s statement outlined.
Shares in Directa Plus opened flat at 74p on Monday morning.
As one of the main manufacturers of elastomeric compounds for the global tyre industry, China’s tyre market was estimated to be worth some US$28 billion in 2018 by TechSci Research.
The global market research and consulting company has forecast the market to grow at a compound annual rate of over ten per cent to reach US$52 billion by 2023.
Giulio Cesareo, Founder and CEO of Directa Plus said, "The grant of a Chinese patent for our G+® technology in tyres is a first step towards exploiting China's large and growing market for elastomeric compounds for tyres.
Our technology improves performance as well as having a lower carbon footprint than existing technologies as a result of our sustainable and non-toxic production process."
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