NanoXplore Partners with Chevron Phillips for Supply Contract
NanoXplore Inc. (“NanoXplore”) (TSX: GRA and OTCQX: NNXPF), known for its leadership in graphene innovations, proudly announces a new supply agreement with Chevron Phillips Chemical (CPChem). This multi-year contract marks a significant milestone, focusing on the provision of Tribograf™, a unique carbon-based product generated in NanoXplore’s Montreal production facility.
Collaborative Innovations in Lubrication Technology
In collaboration with Drilling Specialties, CPChem and NanoXplore have developed formulations using Tribograf™ specifically for use in oil and gas drilling fluids. The product, marketed as NanoSlide™, has already started to attract positive attention due to its effectiveness as a lubricant, with commercial production underway and orders being fulfilled successfully.
Revolutionary Benefits of Tribograf™
The introduction of Tribograf™ is expected to bring major advancements in fluid dynamics, providing enhanced lubrication capabilities that come from high-aspect ratio graphene. Unlike many conventional graphene products, Tribograf™ doesn’t hinder flow, making it an ideal choice for even the most complex geological challenges. Notably, NanoSlide™ has demonstrated outstanding performance in demanding environments like tight oil reservoirs and areas characterized by low permeability and porosity, significantly reducing friction coefficients and decreasing drilling durations.
Commitment to Innovation
This new agreement emphasizes CPChem's dedication to delivering innovative and cost-efficient solutions for their clientele. According to Jay Bickett, senior vice president of polymers and specialties at CPChem, “This agreement reflects our shared focus on driving innovation and enhancing product efficiency.”
Rocco Marinaccio, Chief Operating Officer at NanoXplore, expressed pride in this accomplishment, stating, “After years of collaborative work, we are excited to achieve this significant milestone for NanoXplore. This contract reaffirms our belief that advanced carbon materials can provide significant value across a multitude of industrial applications.”
About NanoXplore
NanoXplore stands out as a key player in the graphene industry, specializing in the manufacture and supply of high-volume graphene powder for various sectors, including transportation and industrial applications. The company also offers both standard and customized graphene-enhanced plastics and composite products for industries such as packaging and electronics. Furthermore, NanoXplore develops silicon-graphene-enhanced lithium-ion batteries, catering to the markets for electric vehicles and grid storage. The company operates from its headquarters in Montreal, Quebec, supplemented by manufacturing capabilities in Canada, the United States, and Europe.
About Chevron Phillips Chemical
CPChem encompasses Chevron Phillips Chemical Company LLC along with its subsidiaries, establishing itself as one of the globe's foremost producers of olefins and polyolefins, and a leading supplier of a variety of chemicals including aromatics and specialty polymers. With a workforce of around 5,000 and a robust asset portfolio valued at nearly $20 billion across multiple research and manufacturing facilities in various countries, CPChem is well-positioned in the industry. The company operates jointly under the ownership of Chevron U.S.A., Inc. and Phillips 66 Company and is headquartered in The Woodlands, Texas.
Frequently Asked Questions
What is the significance of NanoXplore's agreement with CPChem?
This agreement is a pivotal step in enhancing the commercial application of Tribograf™, reflecting innovation and collaboration within the industry.
What products will NanoXplore supply to CPChem?
NanoXplore will supply Tribograf™, which has been developed for use as a lubricant in drilling fluids, branded as NanoSlide™.
How does Tribograf™ benefit drilling operations?
Tribograf™ drastically improves lubrication properties without restricting flow, which is beneficial for drilling in challenging geological formations.
What markets does NanoXplore serve?
NanoXplore serves diverse markets including transportation, electronics, and industrial sectors with its graphene-based products.
How can I learn more about NanoXplore?
For more information, reach out to their Vice-President of Corporate Development, Pierre Yves Terrisse.
