17th Sep 2015 08:56
For Immediate Release | 17 September 2015 |
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
Market Expansion Into India
Graphene NanoChem (AIM:GRPH), is pleased to announce the geographical expansion of its market with the receipt of a commercial order for its PlatQuartz Series from Scomi Oiltools Sdn Bhd ("Scomi") for deployment in India.
A nanofluid designed to enable high temperature and pressure performance for water based drilling muds, the PlatQuartz Series is a green lubricant additive with market leading performance in torque and drag reduction in drilling, thus improving rate and efficiency of drilling and consequently providing potential cost savings to end customers.
The latest commercial order for the PlatQuartZ Series valued at US$390,000 to be deployed to one of the local national oil and gas company for a 3-well drilling programme in India, represents another milestone achievement in the geographical expansion of the marketl rollout of the Group's products.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are excited by the ongoing deployment of PlatQuartz and the significant milestone it represents in validating our long term growth plan for this market, as we continue making good progress in the commercial rollout of our products into international markets."
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 |
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.
Headquartered in Malaysia, Graphene Nanochem was admitted to the AIM of the London Stock Exchange on 26 March 2013, following the reverse acquisition of Biofutures International plc, and trades under the symbol GRPH.L.
To find out more, please visit www.graphenenanochem.com.
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