Graphene Nanochem reports their 2014 financial results

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.

Yesterday the company announced a new three-year $28 million order for its PlatDrill Series drilling fluid from an undisclosed national oil company. PlatDrill (a 'smart' fluid that satisfies demanding technical requirements of modern day drilling) will be deployed in Q4 2015.

Posted: Jun 14,2015 by Ron Mertens