Graphene Nanochem announce 5-year offtake agreement with Scomi for 135,000 tonnes of graphene-enhanced materials

In November 2013, Graphene Nanochem signed an agreement with Malaysia's Scomi Oiltools, a global supplier of drilling fluid services, to exclusively market a range of formulated graphene-enhanced PlatDrill series to the oilfield chemicals market.

Now Graphene Nanochem signed a licensing and offtake agreement for the entire production of PlatDrill under the Scomi-Platinum joint venture. The two companies will build a 45,000 tonnes per annum (tpa) production facility: 30,000 tpa of Platdrill material and 15,000 of specialty chemicals. The fab will also produce graphene nanomaterial (will increase NanoChem's capacity from 30 tonnes per year to 50). Scomi Oiltools agreed to buy the whole production of PlatDrill over five years (estimated at 135,000 tonnes) with an option to renew for another 5 years.

Graphene NanoChem will also receive technology royalty payments for 15 years. They expect the new plant to start production in Q2 2016.

Posted: Sep 13,2014 by Ron Mertens