Graphene Nanochem - Page 3

In November 2013 Graphene Nanochem announced it will soon start selling their graphene-enhanced PlatDrill drilling fluid. Today the company announced it signed the first contract to supply PlatDrill to a national oil company.

The initial deal is to deliver about 1,000 tons of PlatDril, and it is worth £1 million ($1.7 million). Scomi Oiltools helped winning this order. Graphene Nanochem says it is confident it will meet the market expectations for 2014, and they see "substantial revenue increases from 2015". The customer performed several stages of testing and validation of this new fluid to ensure successful deployment.

Graphene Nanochem signed a joint-venture agreement with Emery Advanced Materials to co-develop new applications for Graphene Nanochem's graphene-based nanomaterials.

Graphene Nanochem says that the Emery Group is one of the world's largest oleochemical from renewable sources producers. The two companies will develop three applications with a combined market value of over $100 billion.

Graphene Nanochem installed a second reactor at its Nanomaterials facility, in Senawang, near Kuala Lumpur, Malaysia. The company says this new reactor will double the company's graphene capacity to two tons per year.

Graphene Nanochem plans to continue and expand its production capacity in 2014 and 2015 as the company hopes to start offering graphene-based drilling fluids soon. Yesterday the company said it will build a graphene hub in Malaysia in cooperation with the National Innovation Agency of Malaysia.

Graphene Nanochem, in cooperation with the National Innovation Agency of Malaysia are going to develop Malaysia's national graphene hub. The hub, which will be launched in Q2 2014, will focus on the development of graphene and the commercial applications for graphene.

Graphene Nanochem says that the Malaysian government has identified graphene as a key material for driving technologies and commercial applications. They hope to turn Malaysia into a global graphene innovation hub.

A couple of weeks ago Graphene Nanochem announced that it hopes to start selling htier graphene-enhanced PlatDrill drilling fluid soon, and now the company announced that they signed an agreement with Malaysia's Scomi Oiltools, a global supplier of drilling fluid services. Scomi will exclusively market a range of formulated PlatDrill series to the oilfield chemicals market.

Graphene NanoChem says that PlatDrill fluids deliver superior performance with lower environmental impact as well as better lubricity, load bearing capacity and higher viscosity properties. The first of the PlatDrill series were tested successfully tested and earmarked for deployment in Malaysia and Myanmar (pending the identification of suitable well sites by Scomi's customers).

A few weeks ago Graphene Nanochem reported that they did not start selling their graphene-enhanced PlatDrill drilling fluid as previously planned. Now the company announced that it remains confident in the PlatDrill prospects and are in talks with Scomi Group regarding the determination and selection of a well site by its end-customers.

NanoChem further says that it hopes that they will be able to recognize revenue in relation to PlatDrill in 2013.

Graphene Nanochem reported their financial results for H1 2013, with £10.1 million in revenue (down from £19.1 million in H1 2012), an operating loss of £800,000 and a net loss of £5.4 million ($8.7 million USD). This is the company's first financial statement since they raised $50 million and started trading in the UK's AIM in March 2013.

The company also reported that they did not start selling their graphene-enhanced drilling fluid as planned. The company said the well site for the initial deployment hasn't been chosen yet and that's the reason for the delay. The company, however, is "very close" to rolling out this material. PlatDrill, the world's first graphene-enhanced drilling fluid has better lubricity and load bearing capability and a higher viscosity stability compared to existing fluids.

Graphene Nanochem (previously Biofutures International) successfully raised £32.5 million (almost $50 million) and acquired Malaysian specialty chemicals group Platinum Nanochem. The company now trades on the UK's AIM stock exchange (ticker GRPH) with a market value of around £155 million ($235 million).

The new company holds an existing core specialty chemicals business in Malaysia, and also holds the exclusive license to a process known as Catalyx which uses a catalyst to extract graphene from biogases (such as methane). This process can potentially mean low-cost graphene production. They are also developing graphene-enhanced lubricants for used in the extraction of shale gas.

Update: the fund raising was successfully concluded, Graphene Nanochem raised $50 million and is now a public company

Biofutures (a publicly-traded UK company) is going to focus on low-cost graphene production. It will change its name to Graphene Nanochem. Biofutures raised money at the UK AIM stock exchange and the market capitalisation is £162 million, but was suspended from trade in December 2012.

Graphene Nanochem holds the exclusive license to a process known as Catalyx which uses a catalyst to extract graphene from biogases (such as methane). This process can potentially mean low-cost graphene production.