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Graphene Nanochem inks US$390,000 deal

The order is worth US$390,000 and is to be deployed to an oil and gas company in India
Graphene Nanochem inks US$390,000 deal
PlatQuartz is an environmentally-friendly lubricant additive

Graphene Nanochem (LON:GRPH) has secured a commercial order for its PlatQuartz lubricant additive from Scomi Oiltools.

The order is worth US$390,000 and is to be deployed to an oil and gas company in India for a 3-well drilling programme.

Jespal Deol, chief executive, said: “We are excited by the on-going deployment of PlatQuartz and the significant milestone it represents in validating our long term growth plan for this market, as we continue making good progress in the commercial rollout of our products into international markets.”

PlatQuartz is an environmentally-friendly lubricant additive designed to enable high temperature and pressure performance for water based drilling muds.

Shares rose 1.3% to 18.75p today.

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