Directa Plus Secures €1.59 Million Contract Extension with OMV Petrom
Why we think this is good
The contract extension with OMV Petrom, a major energy operator, is a positive development for Directa Plus. The contract provides multi-year revenue visibility and supports the company's operational scaling in the oil & gas vertical, which is likely to have a positive impact on earnings. While some financial details are unquantified and implementation costs are a risk factor, the overall sentiment is good given the significant contract value relative to the company's market cap and the extension of an existing successful relationship.
Key Points
- €1.59 million contract extension agreement with OMV Petrom
- Extends original framework agreement that commenced in 2021
- Provides multi-year revenue visibility until 31 December 2026
- Supports Directa Plus's operational scaling in the oil & gas vertical
- Strengthens the company's position in the Eastern European environmental services market
Summary
Directa Plus, a leading producer and supplier of graphene-based products, has announced a €1.59 million contract extension agreement with OMV Petrom, a major energy operator, for the use of its patented Grafysorber® technology. The contract extends an original framework agreement that commenced in 2021 and generated over €1.0 million in revenues to date, running until 31 December 2026. This agreement further strengthens Directa Plus's position in the Eastern European environmental services market and supports the company's operational scaling in the oil & gas vertical.