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.

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.

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.

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

Graphene Nanochem logoGraphene 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.

XFNANO: Graphene and graphene-like materials since 2009XFNANO: Graphene and graphene-like materials since 2009