Plaid ships proprietary graphene to Petro Flow

Executive Summary

• Plaid Technologies Inc. has shipped an initial quantity of its proprietary graphene material to Petro Flow LLC, marking a transition from laboratory development to field-level evaluation for graphene-enhanced wellbore cement.
• The initial field tests for plugging and abandonment (P&A) applications are scheduled for the second quarter of 2026 in the continental United States.
• Petro Flow is currently in advanced discussions with multiple service providers to support upcoming field trials and potential broader deployment of the technology.

Key Details

• Shipment Details: The shipment consists of high-grade graphene dispatched from Plaid's European-based stockpile. Upon delivery, the graphene will be converted into a water-dispersible graphene oxide (GO) formulation prior to cement mixing.
• Technology Integration: Plaid is working with contracted development partner Petro Flow to integrate an ultrasonic injection process to improve the dispersion of graphene oxide within cementitious mixtures.
• Performance Metrics (Laboratory Studies):
  • Faster Setting: Reported reductions in set time of up to approximately 25 percent.
  • Strength Improvements: Reported strength improvements of up to 50 percent compared with traditional cement.
  • Durability: Laboratory testing indicates the formation of a denser, stronger structure, potentially reducing leakage risk.
  • High-Temperature Stability: Improved stability at higher temperatures relevant for deep underground operations.
• Commercial Strategy: The technology is designed to fit existing industry practices, working with standard oilfield cement systems and equipment without requiring major operational changes.
• Future Outlook: Plaid intends to provide updates as testing progresses and additional milestones are achieved.

Notable Quotes

• "These initial shipments mark an important transition from laboratory development to field-level evaluation. Our collaboration with Petro Flow allows us to test our graphene technology in real-world well plugging operations while continuing to validate performance, ease of use and scalability. This is a key step as we move toward commercialization and engage with service companies serving the well plugging market." — Guy Bourgeois, Chief Executive Officer