3rd Aug 2015 16:11
LONDON (Alliance News) - Graphene NanoChem PLC Monday said its drilling and recovery additive products have successfully completed rigorous testing by an oil and gas company in Vietnam and have been approved by that company for registration.
Graphene said that following the approval, each of the products now qualifies for participation in tenders with the prospective customer and, via its joint venture with Scomi, it recently participated in two new tenders with the prospective customer for the supply of its drilling additives.
The company added that it has extended its intellectual property protection with the filing of a US patent for its method of making graphene nanocomposites by multiphase fluid dynamic dispersion.
"The superior performance of our products has again been validated by the industry and we are very much encouraged by the strong market traction of our products as we continue to establish a presence in our long-term target markets," Chief Executive Jespal Deol said in a statement.
Shares in Graphene closed down 1.9% at 12.87 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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