Graphene Nanochem was a UK-based company with Malaysian ties that manufactures performance specialty chemicals and advanced nanomaterials from renewable sources including waste materials. The company offered several products for the oil and gas sectors.
Graphene Nanochem held an 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. The company also developed graphene-enhanced lubricants used in the extraction of shale gas, graphene-based Li-Ion batteries and graphene water treatment systems.
In September 2014, Graphene Nanochem signed a licensing and offtake agreement for the entire production of the graphene-enhanced PlatDrill lubricant to Scomi-Oiltools, which was estimated at 135,000 tonnes over the following five years.
Graphene Nanochem started trading in the UK's AIM stock exchange (ticker: GRPH) in March 2013 following a £32.5 ($50 million) fund raising. In 2016 the group faced financial difficulties and started a restructuring process. In early 2018 it announced it will remove its shares from the AIM. The company had plans to acquired modular construction company CG TekBuild and IPO again, but it seems as if the company is no longer in business.
The latest Graphene Nanochem graphene news:
Graphene Nanochem announced that the company will remove its shares from London's AIM market on Monday next week, following its failure to appoint a new nominated adviser.
This means that starting from next week, Graphene Nanochem will return to being a private company. The company does, however, say that it aims to acquire modular construction company CG TekBuild, and following this acquisition it expects to return to the AIM via an IPO.
Graphene Nanochem announced that it has received two purchase orders for a total of 4,000 barrels of PlatDrill R, valued at $589,680, for deployment in the near term in Myanmar for a leading oil and gas company.
Graphene Nanochem received a contract order for its Platdrill fluid in the shale gas market in China worth about $360,000. The order pertains to 4,000 barrels of PlatDrill, a smart fluid that speeds the drilling and quality of shale gas as well proving environmental and economic benefits.
The contract is for servicing two wells in Changning in the southwest of the country, an area where 300 shale gas wells are expected to be drilled over the next five years.
Graphene Nanochem announced that the company arranged a loan note subscription agreement with Darwin Capital Ltd, to raise up to £2.5 million. This load finalizes the company's restructuring that it announced in April 2016, and the company's shares are set to resume trading at the UK's AIM stock exchange (the trading halted on June 28th 2016).
As part of the re-organization plans, Graphene Nanochem will dispose of its platinum subsidiaries to focus on nanofluids (oil field chemicals), water treatment and enhanced building materials.
In April 2016 Graphene Nanochem announced that it agreed to agreed to restructure its £16 million debt with its Malaysian lenders - and as part of the deal Nanochem will sell its non-core business and exit from low-margin operations.
The company now has published its latest financial results, and said that the restructuring plans are making progress. Trading in its shares is still suspended - until the company can raise more funds. As part of the re-organization plans, Graphene Nanochem will dispose of its platinum subsidiaries to focus on nanofluids (oil field chemicals), water treatment and enhanced building materials.