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Third Term Contract Renewal With Shell

6 Oct 2014 07:00

RNS Number : 4668T
Graphene NanoChem PLC
06 October 2014
 

For Immediate Release

6 October 2014

Graphene NanoChem PLC

("Graphene NanoChem" or the "Group")

Third Term Contract Renewal With Shell

Graphene NanoChem (AIM: GRPH), the performance nanochemicals 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 up to 5 million litres per month of PlatAmber, the Group's biofuel product derived from palm waste for the Malaysian market.

The contract with Shell Malaysia, renewed for the third term, is for a further period of one year, commencing 1 November 2014. 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 B7 mandate, increasing the threshold to 7%, in 2015, following which the Group expects the market for the product to increase from 500,000 tonnes to 700,000 tonnes per annum.

Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are pleased to announce this latest contract renewal with Shell Malaysia, and look forward to supporting our long term partner in the fulfillment of its obligations under the mandate."

 

For further information:

 

Graphene NanoChem

Tel: +603 2282 3080

Jespal Deol, Chief Executive Officer

Panmure Gordon (NOMAD and Broker)

Fred Walsh / Adam James / Tom Salvesen

Tel: +44 (0) 20 7886 2500

Tom Nicholson

Tel: +65 68248204

Buchanan

Tel: +44 (0) 20 7466 5000

Mark Edwards / Fiona Henson / Jason Day

 

 

About Graphene NanoChem

Graphene Nanochem plc is a technology commercialisation company that operates two commercial platforms, the Advanced Chemicals platform that manufactures renewable chemical products for high growth sectors and the Advanced Materials platform that focuses on graphene nanomaterials applications for selected industries targeting high performance use.

To find out more, please visit www.graphenenanochem.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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