4th Nov 2014 13:53
For Immediate Release | 4 November 2014 |
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
Malaysia's Biofuels Mandate Increased from B5 To B7 Effective 1 November 2014
Graphene NanoChem (AIM: GRPH), the performance nanochemicals and advanced materials company, is pleased to announce the increase in Malaysia's biodiesel blending requirement from the current B5 mandate to B7 mandate commencing 1 November 2014. B7 requires a blend of 7 per cent. of palm methyl ester with 93 per cent. of diesel petroleum, up from 5 per cent. under B5.
Malaysia currently consumes approximately 340,000 tonnes of biofuels per annum under the B5 mandate. The implementation of the B7 mandate, which has been brought forward by the Government of Malaysia, will increase the domestic volume requirement to approximately 570,000 tonnes per annum.
Platinum NanoChem Sdn Bhd, a wholly-owned subsidiary of Graphene NanoChem, is currently supplying PlatAmber, the Group's biofuel product derived from palm waste for the Malaysian market, to tier-1 oil and gas companies under the Malaysian B5 biofuels mandate. The increase of the Malaysian biofuels mandate is expected to drive the sales volume for PlatAmber for the Malaysian market.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are pleased to announce the latest Government initiative driving the use of environmentally friendly energy sources and look forward to supporting the requirement for PlatAmber under the Malaysian B7 mandate."
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | |
Fred Walsh / Adam James / Tom Salvesen | Tel: +44 (0) 20 7886 2500 |
Tom Nicholson | Tel: +65 68248204 |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Edwards / Fiona Henson / Jason Day |
About Graphene NanoChem
Graphene Nanochem plc is a technology commercialisation company that operates two commercial platforms, the Advanced Chemicals platform that manufactures renewable chemical products for high growth sectors and the Advanced Materials platform that focuses on graphene nanomaterials applications for selected industries targeting high performance use.
To find out more, please visit www.graphenenanochem.com.
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