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7 Oct 2013 08:23
For Immediate Release | 7 October 2013 |
Graphene NanoChem plc
("Graphene NanoChem" or the "Group")
Contract renewal with Shell Malaysia
Graphene NanoChem (AIM: GRPH), the nanochemicals, performance chemicals and advanced materials company, is pleased to announce that Platinum NanoChem Sdn Bhd, its wholly-owned subsidiary, has been awarded a contract renewal by Shell Malaysia for the supply of PlatAmber, the Group's biofuel product derived from palm waste for the Malaysian market.
The contract with Shell Malaysia is for a further period of one year, commencing 1 November 2013, and increases the maximum monthly delivery of PlatAmber from 3 million litres to 5 million litres. PlatAmber is used as an additive into road-grade diesel to assist with compliance with the Malaysian Government's B5 mandate, which requires a mixture of 5% biofuel in diesel products. The Malaysian Government plans to increase this to a B10 mandate in 2016, following which, the Group expects the market for the product to double.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are pleased to announce the renewal of this contract with Shell Malaysia, which is in addition to a number of contracts we have announced recently with other key players in the biofuels market in Malaysia.
"We are expecting to see significant growth in the biofuels market in Malaysia in the near future, driven by the government mandates. At such a critical time, we are very pleased to have signed this contract with such an important player in the region."
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | |
Callum Stewart / Hannah Woodley | Tel: +44 (0) 20 7886 2500 |
Tom Nicholson | Tel: +65 8614 7553 |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Edwards / Fiona Henson / Helen Greenwood |
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