27th Mar 2015 13:36
For Immediate Release | 27 March 2015 |
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
Readily Biodegradable Result of The PlatDrill Series
Graphene NanoChem (AIM: GRPH), the performance nanochemicals and advanced materials company, is pleased to announce that after 9 months of independent testing of the PlatDrill Series by the Council of Scientific & Industrial Research - National Institute of Oceanography, India, a world renowned oil and gas research facility, it has concluded that at 84.81%, the biodegradation level of the PlatDrill Series is ~25% higher than the standard specified by the OECD guidelines. Based on this biodegradation rate the PlatDrill Series has been classified as "readily" biodegradable with a non-toxic ranking.
As offshore oil exploration increases, water and environmental contamination risks arising from the increased use of drilling fluids, gas and discharge of drilling waste mud and drill cuttings into the marine environment has resulted in more stringent environmental restrictions in the chemicals and substances used for drilling.
Biodegradation is an important characteristic of drilling fluids to ensure that the fluids do not persist in the environment for long periods of time and how quickly the site recovers from its discharge particularly for offshore drilling. "Readily" biodegradable refers to a substance that degrades efficiently and completely.
The readily biodegradable classification and non-toxic ranking of the PlatDrill Series enables the Group to meet the technical and environmental performance of modern days drilling requirements, helping the industry reduce its environmental risks and overall drilling costs from waste treatment savings. In addition, it also enables the potential market expansion of the PlatDrill Series into the highly environmentally regulated market such as the Gulf of Mexico.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "The combined strength of the performance of our PlatDrill Series and its superior environmental profile is providing the Group a unique competitive advantage in the market as well as reinforcing the Group's commitment in providing green solutions to the industry."
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 / 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.
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.
Related Shares:
Graphene Nanochem