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 Â£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.
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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.
Graphene Nanochem agreed to restructure its debt with its Malaysian lenders - and as part of the deal Nanochem will sell its non-core business and exit from low-margin operations.
Graphene Nanochem has about £16 million in debt to Malaysia Debt Venture, and the maturity on that debt was pushed back from November 2015 to the end of 2012 (at an interest rate of 8%). The company will pay its remaining £12 million long-term debt by selling its fuel additive assets and palm oil refinery.
Graphene Nanochem reported their financial results for the first half of 2015. Revenues were £7 million (down from £20.4 million in H1 2014) and the loss before tax was £3.7 million (a £200,000 greater loss compared to H1 2014).
NanoChem says that they anticipated the decline in revenues "in line with the overall rationalization of the business to a suite of higher margin products and offerings". Following the collapse in oil prices, Nanochem exited the capital intensive low margin fuel additives business.
Graphene Nanochem has inked a commercial order for its graphene-enhanced PlatQuartz lubricant additive from Scomi Oiltools. The PlatQuartz products are nanofluids designed to enable high temperature and pressure performance for water-based drilling muds, improving torque and drag when drilling.
The order is worth $390,000 and is to be deployed to an oil and gas company in India for a 3-well drilling programme.
Graphene Nanochem reported their financial revenues for 2014, with revenues of £48.3 million - up 53% from 2013, mostly due to contracted sales to Shell and Chevron.
Operating loss for 2014 was £6.8 million (down from £10.1 million), but the company reports a gross profit of £1.6 million - despite a feedstock price anomaly for the year. Delays in the roll out of graphene-based products are to be blame for the operating loss.
Graphene Nanochem announced a significant order for its PlatDrill Series drilling fluid worth $28 million with an undisclosed national oil company.
The deal came through Graphene Nanochem’s connections with Scomi Oiltools and deliveries should begin in the fourth quarter. The company is, of course, very happy with this tender and claims it will give it "excellent revenue visibility".