Graphene NanoChem subsidiary Platinum NanoChem has been awarded a contract renewal by its tier-1 global oil and gas customer for the supply of PlatClear, the second generation biofuel, into the European market for 2015.
The group currently has an existing contract with the tier-1 O&G company for the supply of PlatClear to February 2015 for the European market.
The contract will now be extended to December 2015.
The renewed contract represents approximately 40% of the annual production output of the Senawang Facility.
At current CPO prices, the estimated annual revenue from the contract will be in the region of US$45m.
At 8:24am: [LON:GRPH] Graphene NanoChem PLC share price was +1.75p at 73.75p
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