NanoXplore Secures Long-Term Supply Agreement with CPChem
NanoXplore Signs Major Supply Agreement with Chevron Phillips Chemical
NanoXplore Inc. is making headlines with its recent agreement with Chevron Phillips Chemical (CPChem). This strategic partnership marks a significant milestone for NanoXplore, a prominent player in the graphene sector, as it begins to supply Tribograf™, an innovative carbon product developed at their advanced facility.
Innovative Product Collaboration
The collaboration with CPChem’s Drilling Specialties division aims to improve oil and gas drilling performance through cutting-edge technology. The two companies have successfully designed and tested formulations incorporating Tribograf™ to create NanoSlide™, a lubricant that enhances drilling efficiency while minimizing flow restrictions.
The Benefits of Tribograf™
Tribograf™ is formulated specifically for challenging geological environments, including tight oil reservoirs characterized by low permeability and porosity. The innovative product significantly reduces the coefficient of friction, allowing for quicker drilling operations and improved overall performance in demanding conditions.
Long-term Commitment to Innovation
As part of this multi-year contract, NanoXplore will start supplying CPChem with Tribograf™ starting in October. This agreement reaffirms both companies’ dedication to providing innovative and economical solutions to their clients.
Statements from Leadership
Jay Bickett, the senior vice president at CPChem, expressed excitement about the collaboration, stating, "This agreement reflects our shared focus on driving innovation and enhancing product efficiency. We look forward to creating meaningful value for customers through this collaboration."
Echoing this commitment, Rocco Marinaccio, chief operating officer at NanoXplore, commented, "After years of collaborative work, we are proud to achieve this significant milestone for NanoXplore. This contract reflects our belief that advanced carbon materials can deliver impactful value across various industrial applications."
About NanoXplore
Headquartered in Montreal, Quebec, NanoXplore is recognized as a leader in graphene manufacturing. The company specializes in producing high-volume graphene powder suitable for a diverse array of industries, including transportation, packaging, and electronics. Additionally, NanoXplore develops enhanced plastic and composite products, and is pivoting towards silicon-graphene enhancements for Li-ion batteries in both the electric vehicle and grid storage sectors.
About Chevron Phillips Chemical
Chevron Phillips Chemical is known for its extensive production capabilities in olefins, polyolefins, and various specialty chemicals. With a robust workforce and significant assets distributed across multiple countries, CPChem is strategically positioned to meet global demand for high-quality chemical products.
Future Prospects
The signing of this long-term supply agreement marks a pivotal step in expanding the commercial reach of NanoXplore’s innovative products. As both companies continue to innovate and improve efficiencies, the collaboration is set to yield significant benefits for their respective sectors.
Frequently Asked Questions
1. What are the main products involved in the agreement?
The contract primarily involves the supply of Tribograf™ by NanoXplore to CPChem, which will be utilized in lubrication for drilling fluids.
2. When will the supply of Tribograf™ commence?
Supply is set to begin in October as per the terms of the agreement between NanoXplore and CPChem.
3. What are the advantages of using Tribograf™?
Tribograf™ provides superior lubrication properties and enhances drilling efficiency without causing flow restrictions, even in challenging geological conditions.
4. Who are the key stakeholders in NanoXplore?
Key stakeholders include Rocco Marinaccio, the chief operating officer, and Pierre Yves Terrisse, Vice-President of Corporate Development.
5. How does this contract benefit both companies?
This agreement allows both NanoXplore and CPChem to leverage innovative technology to enhance product efficiency and drive economic solutions in their respective markets.
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