Update on Funding and Board change
Directa Plus plc (AIM: DCTA) is currently in advanced discussions for a €4 million non-dilutive loan from Nant Capital, LLC, aimed at supporting its future growth. This potential funding comes as the company evaluates the sale of non-strategic land held by its subsidiary Setcar, which is estimated to be worth at least €0.5 million. The need for additional funding was previously highlighted in the company's trading update on 7 January 2026, where it was indicated that securing new capital is essential for the execution of its growth strategy. Furthermore, Setcar is implementing cost reduction initiatives, including workforce reductions expected to be completed by mid-2026, which are projected to save approximately €0.5 million for FY 2026. Additional cost-saving measures in Italy are anticipated to reduce recurring costs by €0.15 million starting in April 2026.
The announcement follows a series of strategic moves by Directa Plus to enhance its operational efficiency and financial stability. The company, which specializes in graphene nanoplatelets for various consumer and industrial applications, has been actively restructuring its operations to better align with market demands. The impending departure of Chief Financial Officer Giorgio Bonfanti at the end of March 2026 marks a significant change in the executive team, with the board currently seeking a permanent replacement. Bonfanti's contributions over the past five years have been pivotal in navigating the company through its growth phases, and his exit underscores the ongoing evolution within the company's leadership as it seeks to capitalize on emerging opportunities in the graphene market.
From a financial perspective, Directa Plus is navigating a delicate balance between funding requirements and operational expenditures. The anticipated €4 million loan from Nant Capital would provide critical liquidity to support ongoing projects and strategic initiatives. However, the company must also manage its existing liabilities and operational costs effectively. The planned sale of non-strategic assets and the implementation of cost-saving measures are indicative of a proactive approach to maintaining a healthy balance sheet. The expected savings from Setcar's restructuring efforts, alongside the potential loan, will be crucial for Directa Plus as it aims to enhance its financial flexibility and sustain its growth trajectory.
In terms of peer comparison, Directa Plus operates within a niche segment of the materials market, specifically focusing on graphene-based products. Direct peers include companies such as Haydale Graphene Industries plc (AIM: HAYD), which is also engaged in the production and commercialization of graphene products, and Applied Graphene Materials plc (AIM: AGM), which focuses on developing graphene dispersions for various applications. Both companies are at a similar stage of development and operate within the same commodity space, making them relevant comparators. Haydale has a market capitalization of approximately £15 million, while Applied Graphene Materials is valued at around £10 million, placing them within a comparable range to Directa Plus, which has a market capitalization of approximately £12 million. These companies also face similar challenges in securing funding and scaling their operations in a competitive environment.
The significance of Directa Plus's current funding discussions and strategic initiatives cannot be overstated. The potential loan from Nant Capital represents a critical step towards de-risking the company's operations and ensuring its ability to execute on growth plans. Furthermore, the ongoing evaluation of Setcar's assets and the implementation of cost-saving measures are likely to enhance shareholder value by improving operational efficiency. As Directa Plus continues to navigate the complexities of the graphene market, its ability to secure funding and manage costs effectively will be pivotal in maintaining its competitive edge and driving long-term value creation.
Overall, the developments at Directa Plus reflect a company in transition, actively seeking to bolster its financial position while adapting to market dynamics. The strategic focus on cost containment and asset optimization, coupled with the potential influx of capital from Nant Capital, positions Directa Plus to capitalize on growth opportunities in the graphene sector. As the company moves forward, its performance relative to peers such as Haydale Graphene Industries plc (AIM: HAYD) and Applied Graphene Materials plc (AIM: AGM) will be closely monitored by investors looking for signs of operational success and financial stability.