Directa Plus granted sixth Chinese patent
UK tire manufacturer Directa Plus PLC (LON:DCTA) said it has been granted its sixth patent in the Chinese market for its G+ graphene technology.
The company said the new patent covers the use of G+ technology in bicycle, motorcycle and passenger car tyres as well as truck and bus radial tyres, specifically the formula to use G+ for the tread component, enabling manufacturers to balance the properties of rolling resistance and grip while enhancing both.
Directa Plus cited data from TechSci Researchwhich estimated that the Chinese tyre market is estimated to be worth around US$52bn by 2023, compared to US$28bn in 2018.
"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", said Directa Plus founder and chief executive Giulio Cesareo.
The company's shares were 1.4% higher at 75p in early deals on Monday.
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