TIDMGRPH

RNS Number : 3772T

Graphene NanoChem PLC

03 October 2014

 
 For Immediate Release   3 October 2014

Graphene NanoChem PLC

("Graphene NanoChem" or the "Group")

Malaysia Green Technology Award

Graphene NanoChem (AIM: GRPH), the performance nanochemicals and advanced materials company, is pleased to announce that the Scomi-Platinum joint venture company ("Scomi-Platinum JVCo") has been awarded up to GBP9.4 million in Government-backed debt guarantee for its Plat Drill Series and performance chemicals Facility ("the Facility").

The guarantees from the Malaysian government ("Government") include:

-- Providing Government guarantees for up to 60% of debt financing package, subject to a maximum amount of GBP9.4 million, for the construction of the Facility ("Project Debt Financing");

-- Subsidising 2% of the total interest charged by the financial institutions providing the Project Debt Financing.

The Facility in Port Klang, Malaysia provides high quality earnings, with high visibility, over a long period of time with guaranteed offtake of 135,000 tonnes of the PlatDrill Series over a period of 5 years from Scomi Oiltools.

Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are delighted by the award from the Malaysian Government, further validating our innovative technology platform".

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.

About Scomi Oiltools

Scomi Oiltools is one of the world's leading providers of high performance drilling fluids solutions with an order book of RM5.4 billion (GBP1.0 billion) With a combined group experience of more than 60 years and global presence at 42 locations in 21 countries, Scomi Oiltools possesses the formulation expertise, global presence, customers, products distribution channels, back office infrastructures and logistical capabilities needed to effectively develop the global market share for PlatDrill in the immediate and long term.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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