Graphene Nanochem

Graphene Nanochem to remove its shares from London's AIM

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.

Read the full story Posted: Mar 18,2018

Graphene Nanochem secured order for its Platdrill fluid in China

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.

Read the full story Posted: Dec 29,2016

Graphene Nanochem received up to £2.5 million in convertible loan, returns to AIM trading

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.

 
Read the full story Posted: Dec 25,2016

Graphene Nanochem said it is progressing with its re-organization

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.

Read the full story Posted: Nov 16,2016

Graphene Nanochem restructures its debt, to sell non-core businesses

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.

Read the full story Posted: Apr 12,2016

Graphene Nanochem reports their results for H1 2015, exits the fuel-additive business

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.

Read the full story Posted: Oct 05,2015

Graphene Nanochem secures $390,000 order for graphene-enhanced fluids

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. 

Read the full story Posted: Sep 17,2015

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.

Read the full story Posted: Jun 14,2015