Brisbane, Queensland, Australia–(ACN Newswire – March 25, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) (“GMG” or the “Company“) announces that the Company has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the State Government of Queensland for a grant of AU$ 2 million towards the funding of GMG’s proposed Automated Battery Pilot Plant for the manufacture of GMG’s Graphene Aluminium Ion Battery.

The State Government of Queensland established the Queensland Critical Minerals and Battery Technology Fund to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth.

The grant is for the payment of 50% of the capital cost of GMG’s proposed Automated Battery Pilot Plant, up to a maximum of AU$ 2 million, for the manufacture of GMG’s Graphene Aluminium Ion Battery. The Pilot Plant would be constructed at GMG Richland’s existing manufacturing facility, and the grant is conditional on various preconditions including GMG taking a final investment decision in the Battery Pilot Plant project.

GMG’s CEO Craig Nicol stated, “We want to thank the Queensland Government and acknowledge its commitment to supporting the Critical Mineral and Battery Manufacturing Industry in the State. This is great recognition for GMG and GMG’s next generation Graphene Aluminium Ion Battery and further shows the progress of the battery’s development. We are very excited about this next phase of its maturation.”

GMG’s Chairman and Non-Executive Director, Jack Perkowski, commented: “This represents further progress for the Company, and I congratulate GMG on its success in securing this grant. I also would like to thank the Queensland Government for recognising and supporting GMG in this phase of its battery’s development.”

Queensland Government Deputy Premier, Treasurer and Minister for Trade and Investment Cameron Dick said:

“The Miles Labor Government is propelling Queensland through an energy transformation that will create jobs.”

“I am so pleased that this new plant will create 12 good quality jobs. Projects like this are helping set the path in creating thousands of secure jobs for Queenslanders while providing the clean, reliable and affordable energy every household and business needs.”

“The $100 million Queensland Critical Minerals and Battery Technology Fund is playing its part by supporting businesses across the supply chain like Redflow, Revolver Resources, and now GMG.”

“GMG’s innovative use of graphene, in partnership with UQ, is another example of our homegrown ingenuity that we will continue fostering here in Queensland.”

“Their graphene aluminium-ion batteries could prove to be a real gamechanger on the world market and elevate Queensland’s local battery industry to the next level.”

About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation, and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

GMG’s 4 critical business objectives are:

1. Produce Graphene and improve/scale cell production processes
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the use of funds from the grant, the production capacity of the proposed automated battery pilot plant, the location of the proposed automated battery pilot plant, the grant showing the progress of the GMG’s battery’s development, and the next phase of the battery’s maturation.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the production capacity of the proposed automated battery pilot plant, that the funds from the grant will be used as management currently expects, that the proposed automated battery pilot plant would be built at the Company’s existing manufacturing facility in Richland, that the grant shows the progress of the graphene aluminium ion battery’s development, and that the maturation of the graphene aluminium ion battery will proceed as management currently expects.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the use of funds from the grant will differ from management’s expectations, that the automated battery pilot plant would not be capable of manufacturing approximately 1MWh per annum of GMG’s graphene aluminium ion battery, that the proposed automated battery pilot plant will not be built at GMG’s Richland facility, or at all, that the grant does not demonstrate the progress of the graphene aluminium ion battery’s development, that the maturation of the graphene aluminium ion battery will not proceed as currently expected by management, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202979

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(Newsfile Corp. – February 26, 2024) –  Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) (“GMG” or the “Company“) is pleased to announce it begins trading today on the OTCQX market under the symbol “GMGMF”.

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The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. Penny stocks, shells and companies in bankruptcy cannot qualify for OTCQX. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.

GMG has now qualified to trade on the OTCQX® Best Market, having been upgraded from the Pink® market. The two lower-tier markets for OTC trading in the U.S. are the OTCQB® Venture Market and the OTC Pink® market. This upgrade will provide increased transparency in trading for GMG’s U.S. investors through its higher levels of reporting and governance.

GMG’s Managing Director and CEO, Craig Nicol, commented: “As part of our capital markets access plans, we are delighted to broaden the Company’s exposure in the U.S. market through this upgrade. It is a major step toward our corporate development in North America.”

GMG’s Chairman and Non-Executive Director, Jack Perkowski, commented: “Increasing GMG’s presence in the U.S. is of strategic importance for funding our development and growth initiatives. Enabling U.S. investors with increased involvement will expand the Company’s future capital opportunities.”

About GMG

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

GMG’s 4 critical business objectives are:

1. Produce Graphene and improve/scale cell production processes
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the upgrade to the OTCQX® Best Market providing increased transparency in trading for GMG’s U.S. investors, trading on OTCQX® Best Market being an important step toward the Company’s corporate development in North America, increasing the Company’s presence in the U.S. being strategically important for future funding of development and growth, and increased U.S. investor involvement expanding the Company’s future capital opportunities.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the upgrade to the OTCQX® Best Market resulting in higher levels of reporting and governance which will lead to increased transparency in trading for U.S. investors, that the upgrade to the OTCQX® Best Market is an important step towards the Company’s corporate development in North America, that increasing the Company’s presence in the U.S. will help fund the Company’s development and growth, and that increased U.S. investor involvement will expand the Company’s future capital opportunities.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the upgrade to the OTCQX® Best Market will not result in a higher level of reporting, that the upgrade to the OTCQX® Best Market will not lead to increase transparency in trading for U.S. investors, that the upgrade to the OTCQX® Best Market will not be an important step towards the Company’s corporate development in North America, that increasing the Company’s presence in the U.S. will not help fund the Company’s development and growth, that increased U.S. investor involvement will not expand the Company’s future capital opportunities, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199208

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – February 20, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to announce that it has successfully passed the ISO 9001:2015 audit and is now certified to be in compliance with this internationally recognised standard for quality management systems. This achievement underscores GMG’s commitment to providing its customers with the highest quality products and services, while continuously improving its internal processes.

The ISO 9001 certification process involved a rigorous assessment of GMG’s quality management system, covering all aspects of its operations, from customer service to production, delivery, and technical support. The successful audit demonstrates that GMG’s system meets the stringent requirements of the ISO 9001 standard that are designed to ensure consistent quality and customer satisfaction.

The benefits of ISO 9001 certification for GMG include:

• Enhanced customer satisfaction through improved product and service quality.
• Increased efficiency and productivity through optimised processes.
• Reduced costs through minimised errors and waste.
• Improved decision-making through data-driven insights.

GMG is committed to maintaining its ISO 9001 certification and continuously improving its quality management system. The Company plans to conduct regular internal audits and reviews to ensure that its system remains effective and aligned with the latest standards.

GMG’s Managing Director and CEO, Craig Nicol, commented: “We are extremely proud to achieve ISO 9001 certification. This certification is a testament to our dedication to quality and continuous improvement. We are confident that this will further strengthen our relationships with our customers and partners and open more opportunities.”

Additionally, the Company would like to clarify the terms of an investor relations agreement with Focus Communications Investor Relations Inc., a company existing under the laws of Ontario (“Focus”), dated July 1, 2023 (the “Focus Agreement”), previously detailed in the News Release dated July 18, 2023.

Pursuant to the Focus Agreement, Focus will provide investor relations services to GMG for a three-year term, subject to early termination in certain events. The options previously detailed in the July 18, 2023, News Release will vest and become exercisable over a 12-month period and have a term of 3 years.

RSU and Options Grants

The Company is also pleased to announce that following the annual external remuneration review, its Board of Directors have approved the grant of an aggregate of 685,530 Restricted Share Units (“RSU’s”) and 1,400,000 Share Options (“Options”) to certain officers and directors of the Company pursuant to its Restricted Share and Performance Share Plan and the Stock Option Plan. The RSU’s and Options will vest in accordance with the following schedules.

Number of Units	Vesting Terms
213622 RSU’s	71,207 on Jan 22, 2025, 71,207 on Jan 22, 2026, 71,208 on Jan 22, 2027
76114 RSU’s	25,317 on 12 February 2025, 25,371 on 12 February 2026, 25,372 on 12 February 2027.
189671 RSU’s	94, 836 on 17 October 2024, 94, 835 on 17 October 2025
206123 RSU’s	206,123 on 12 February 2025
1,400,000 Options	462,000 on 6 February 2025, 462,000 on 6 February 2026, 476,000 on 6 February 2027

 

When vested, each RSU entitles the holder thereof to receive one Share or the equivalent cash value thereof.

About GMG

GMG is a disruptive Australian-based clean-tech company listed on the TSXV (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets. The Company is pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance enhanced HVAC-R coating system.

GMG’s 4 critical business objectives are to:

1. Produce Graphene and improve/scale cell production processes.
2. Build Revenue from Energy Savings Products.
3. Develop a Next-Generation Battery.
4. Develop its Supply Chain, Partners & Project Execution Capability.

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the ISO 9001 standard underscoring GMG’s commitment to providing quality products and services and continued improvement, that the Company will continuously improve its internal processes, the benefits stemming from the ISO 9001 certification, and that the Company will conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the significance of the Company obtaining its ISO 9001 certification, that the Company will be able to continuously improve its internal processes, that the Company will derive the expected benefits from the ISO 9001 certification as currently expected by management, that the Company will conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards, and that the ISO 9001 certification will further strengthen the Company’s relationships with its customers and partners and open more opportunities. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to continuously improve its internal processes, that the Company will not derive the benefits management expects from the ISO 9001 certification, that the Company will not conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards, that the ISO 9001 certification will not strengthen the Company’s relationships with its customers and partners and open more opportunities, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198540

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – February 14, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company“) provides the latest progress update on its Graphene Aluminium-Ion Battery technology (“G+AI Battery“) being developed by GMG and the University of Queensland (“UQ“).

The Company is pleased to announce that it has identified minimal temperature rise when charging and discharging GMG’s Graphene Aluminium-Ion Battery. This is observed when charging and discharging multiple times at high C- rates (C rate measures the current in a which a battery can be charged or discharged, eg. 1 C rate the battery should be able to be fully discharged in 1 hour). As shown in Figure 1, the temperature of a high-quality lithium-ion battery, produced by a world leading brand, can exceed 60 degrees Celsius when being discharged at the maximum current allowed (4.8 C-rate – an estimated 0.8 A/g on the cathode active material mass). By comparison, GMG’s Graphene Aluminium-Ion Battery temperature is 29 degrees Celsius when it is discharged at even higher current density (20 C-rate – approximately 2.0 A/g on the cathode active mass). The temperatures of both batteries were taken with the room temperature at 23.5 degrees Celsius (+/- 0.5 degrees Celsius).

Battery Type	Discharging Current (Amps / gram cathode active mass)	Operating Temperature Degrees Celsius
World Leading High Quality Lithium-Ion Battery	0.8	61.6
GMG’s Graphene Aluminium-Ion Battery	2.0	30.9

 

 

Figure 1: Thermal Image of Lithium-Ion Battery (left) with Thermal Image of Graphene Aluminium-Ion Battery (right)

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The Company intends to validate with further testing the possibility that its battery may not need thermal management, even at high charge and discharge rates. This creates the potential for significant cost reduction at the system level and highly reduced system cost.

– GMG’s Graphene Aluminium-Ion Battery may not need a thermal management system when used in an electric vehicle battery pack or an energy storage system, which will lead to a simpler, more cost effective and higher energy density battery pack. Most Lithium-Ion Battery Packs require a thermal management system, such as the one shown in Figure 2 below.

Figure 2: A typical Lithium-Ion Battery thermal management system¹

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– The elimination of thermal management can potentially reduce the weight of an electric vehicle battery pack by up to 16%. For example, the thermal management system of a Lithium-Ion Battery Pack can weigh up to 80 kg out of a total of 480 kg. Such a weight reduction achieved through the elimination of thermal management translates into more energy volumetrically (approximately 10%), as well as vehicle mass reduction for more range. Additional range improvements could be expected to come from no thermal management parasitic drain on the battery during operation.

– Furthermore, because GMG’s Graphene Aluminium-Ion Battery has no combustible volatile organic materials, it is more resilient to the risk of chemical fires, such as those that have occurred with Lithium-Ion Batteries.

Battery Technology Readiness Level

The battery technology readiness level (“BTRL”) of the Graphene Aluminium-Ion technology remains at Level 4 (see Figure 4). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation. When GMG commissions its Pilot Plant, it is anticipated that the Company’s battery technology will progress to BTRL 7 and 8 since the equipment and process to make the Graphene Aluminium-Ion batteries are the same as those used to make Lithium Ion Batteries.

Figure 3: Battery Technology Readiness Level

Source: “The Battery Component Readiness Level (BC-RL) Framework:
A technology-specific development framework”, Matthew Greenwood et al.

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Next Steps Toward Commercialisation & Market Applications

The Company continues to see a broad range of applications for a completed GMG Graphene Aluminium Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:

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Next Generation Battery Performance

GMG’s next generation Graphene Aluminium Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 5, with a list of its beneficial characteristics.

Performance results for the pouch cells could be significantly different and will be communicated upon successfully producing a repeatable and fully 3^rd party tested 1000 mAh+ battery pouch cell.

Figure 4: Graphene Aluminium Ion Battery Comparative Performance Data (for coin cells)

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About GMG

GMG is a disruptive Australian-based clean-tech company listed on the TSXV (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets. The Company is pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance enhanced HVAC-R coating system.

GMG’s 4 critical business objectives are:

1. Produce Graphene and improve/scale cell production processes
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the development of the Company’s pouch cell battery, the relative safety and performance of the G+AI Battery compared to lithium-ion batteries, the ability of the G+AI Battery to be used in an electric vehicle battery pack without the need for a cooling system and the potential benefits therefrom, the Company’s focus on making a repeatable 1000 mAh pouch cell and the expected timing of producing a repeatable 1000 mAh pouch cell, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility and the potential to build a commercial factory if the pilot plant and customer trials are successful, the timing of customer testing for an 1000 mAh pouch cell, the ongoing optimization of the pouch cell, and the potential applications for the G+AI Battery.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the relative safety of the G+AI Battery when compared to lithium ion batteries, that the G+AI Battery could be used in an electric vehicle battery pack without a cooling system, that the G+AI Battery has a lower risk of chemical fire than lithium ion batteries due to the difference in material, that the Company’s focus will remain on making a repeatable 1000 mAh pouch cell, that the Company will be successful in creating a repeatable 1000 mAh pouch cell and will achieve this in the first half of 2024, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility, that the Company may build a commercial factory if the pilot plant and customer trials are successful, that the Company will optimize electrochemical behaviour for pouch cells via ongoing laboratory experimentation, that the Company will communicate performance data following the successful production of a 1000 mAh pouch cell. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the G+AI Battery will not be as safe or perform as well as lithium ion batteries, that the G+AI Battery will not be able to be used in an electric vehicle battery pack without a cooling system, that the G+AI Battery does not have a lower risk of chemical fires than a lithium ion battery, that the Company will change its focus away from creating a repeatable 1000 mAh pouch cell, that the Company will not be successful in developing a repeatable 1000 mAh pouch cell on the expected timeline, if at all, that the Company will choose not to proceed with a pilot plant, that the Company will not proceed to customer testing, that the Company will not build a commercial factory even if the pilot plant and customer trials are successful, that the Company will be unable to optimize the electrochemical behaviour of the pouch cell though laboratory experimentation or at all, that the Company will not communicate the performance data of a 1000 mAh cell if it is achieved, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

---

^[1] “A Real-Time Battery Thermal Management Strategy for Connected and Automated Hybrid Electric Vehicles (CAHEVs) Based on Iterative Dynamic Programming”, 6 June 2018, Chong Zhu et al.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197885

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – February 6, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company“) is pleased to provide the latest progress update on its Graphene Aluminium-Ion Battery technology (“G+AI Battery“) being developed by GMG and the University of Queensland (“UQ“).

Notably, this update includes information about GMG’s G+AI Battery regarding:

• 1000 mAh Battery Cell Capacity Reached and Next Steps
• Battery Technology Readiness Level
• Next Steps Toward Commercialisation and Market Applications
• Next Generation Battery Performance
• Important Milestones for GMG’s Graphene Aluminium-Ion Battery Development

1000 mAh Battery Cell Capacity Reached and Next Steps

The Company is pleased to announce it has now produced multiple battery pouch cells with over 1000 mAh (1 Ah) capacity, as seen in Figure 1. In a recent build to confirm repeatability, the Company’s development team has built and confirmed multiple cells, all testing greater than 1Ah (1000mAh). This is a major milestone achieved to demonstrate scalability from coin cells to pouch cells, and represents the next milestone in the battery’s development, following the announcement of 500 mAh capacity in September 2023: “GMG ACHIEVES INITIAL 500 mAh GRAPHENE ALUMINIUM-ION BATTERY PROTOTYPE IN POUCH CELL FORMAT”.

Figure 1: Typical G+AI Pouch Cell Prototype

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_dda901c7a4d06811_001full.jpg

Please see charging and discharging curve typical of the GMG’s Graphene Aluminium-Ion Battery 1000 mAh cell in Figure 2 showing a nominal voltage of 1.7 volts.

Now that GMG has successfully made multiple 1000 mAh pouch cells – it will continue to focus on making more of these batteries and then seek third party laboratory battery testing data, which GMG expects to complete in H1 2024.

Figure 2: Typical Charging and Discharging Curves

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_dda901c7a4d06811_002full.jpg

At the same time, GMG will review a potential investment for the procurement and installation of an automated pouch cell battery pilot plant in its Richlands Australia Facility. The Pilot Plant will enable the Company to produce pouch cells for potential customers to test in battery packs for different applications. Following the successful start-up of the Pilot Plant and successful customer trials, GMG expects to pursue large scale commercial production, as seen in Figure 3.

Figure 3: Pouch Cell Scale Up Process

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_dda901c7a4d06811_003full.jpg

Battery Technology Readiness Level

The battery technology readiness level (“BTRL”) of the Graphene Aluminium-Ion technology remains at Level 4 (see Figure 4). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation. If GMG invests, constructs and commissions a Pilot Plant it is anticipated the battery technology progress to BTRL 7 and 8 since the equipment and process to make the Graphene Aluminium-Ion batteries is the same as those employed to make Lithium Ion Batteries.

Figure 4: Battery Technology Readiness Level
Source: “The Battery Component Readiness Level (BC-RL) Framework: A technology-specific development framework”, Matthew Greenwood et al

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_dda901c7a4d06811_004full.jpg

Next Steps Toward Commercialisation & Market Applications

The Company continues to see a broad range of applications for a completed GMG Graphene Aluminium-Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_dda901c7a4d06811_005full.jpg

Next Generation Battery Performance

GMG’s next generation Graphene Aluminium-Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 5, with a list of its beneficial characteristics.

Performance results for the pouch cells could be significantly different and will be communicated upon successfully producing a repeatable and fully 3^rd party tested 1000 mAh+ battery pouch cell.

Figure 5: Graphene Aluminium-Ion Battery Comparative Performance Data (for coin cells)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196983_graphene5en.jpg

Important Milestones for the Battery’s Development:

Important milestones for GMG’s Graphene Aluminium-Ion Battery Development:

Month	Important Milestones in the Development of the Graphene Aluminium Ion Battery
May 2020	GMG and UQ wins Australian Research Council grant for Graphene battery development
Apr 2021	The University of Queensland and GMG kick off coin cell battery development project
May 2021	Graphene aluminium-ion battery performance data – Energy Density and Power Density
Jun 2021	Graphene aluminium-ion battery performance data – Cycle Life
Jun 2021	Significant potential battery customer market response to launch of battery
Jul 2021	Investment decision for coin cell battery development centre
Oct 2021	Construction starts for coin cell battery development centre
Oct 2021	Bosch Australia Manufacturing Solutions and GMG sign Letter of Intent
Dec 2021	Commencement coin cell battery development centre
Dec 2021	Initial coin cell batteries sent for customer feedback
Mar 2022	Initial factory acceptance testing of semi-automated prototype battery cell assembly equipment
Mar 2022	Wood Engineering and GMG Sign a Letter of Intent
May 2022	Rio Tinto and GMG sign Letter of Intent
Jun 2022	Commissioning of Pouch Cell Equipment
Jun 2022	Bob Galyen former chief technology officer of CATL joins GMG technical advisory committee.
Aug 2022	Investment decision for Phase 1 modular Graphene Production Plant
Oct 2022	Significant battery performance, cell and graphene production improvements
Dec 2022	Investment of $600k Battery Development Centre
Feb 2023	Australian Government Approval (AICIS) for production and sale of batteries.
May 2023	Battery Joint Development Agreement with Rio Tinto signed
May 2023	Battery Technology Readiness Level (BRTL) 2-3 reached
May 2023	Decision to switch to develop Pouch Cells (instead of Coin Cells)
Jul 2023	Bob Galyen former chief technology officer of CATL joins GMG board of Directors
Sep 2023	Battery Pouch Cell Prototypes Multilayered Auto-Stacker Demonstration
Sep 2023	Reaching 500 mAh capacity battery
Sep 2023	Battery Technology Readiness Level (BRTL) 4 reached
Nov 2023	Rio Tinto and GMG Partnership Video Launched
Dec 2023	Commissioning of modular Graphene Production Plant
Feb 2024	1000 mAh Capacity Reached

 

About GMG

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

GMG’s 4 critical business objectives are:

1. Produce Graphene and improve/scale cell production processes
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the development of the Company’s pouch cell battery, that the Company will focus on making more 1000 mAh pouch cells and then seek third party laboratory battery testing, the timing of gathering third party laboratory battery testing data, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility and the potential to pursue large scale commercial production if the pilot plant and customer trials are successful, the timing of customer testing for an 1000 mAh pouch cell, that the Company will optimize electrochemical behaviour for pouch cells via ongoing laboratory experimentation, the ability of a pilot plant to help progress the Graphene Aluminium-Ion technology along the BTRL, and the potential applications for the G+AI Battery.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the Company’s focus remaining on making more 1000 mAh pouch cells, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility, that the Company may move to large scale commercial production if the pilot plant and customer trials are successful, that the Company will complete its third party laboratory battery testing in H1 2024, that the Company will be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation, and that a pilot plant will assist in progressing its Graphene Aluminium-Ion technology along the BTRL. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will change its focus away from making more 1000 mAh pouch cells, that the Company will choose not to proceed with a pilot plant, that the Company will not proceed to customer testing and laboratory testing on the expected timeline, if at all, that the Company will not pursue large scale commercial production even if the pilot plant and customer trials are successful, that the construction of a pilot plant will not help advance the Graphene Aluminium-Ion technology along the BTRL, that the Company will not be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation, or at all, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196983

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – January 30, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to provide a business update on the commercialisation progress of THERMAL-XR® powered by GMG Graphene.

Nu-Calgon Launches CoolWorx® (THERMAL-XR®) in USA:

The Company is proud to announce Nu-Calgon has held its official launch of the CoolWorx® powered by GMG Graphene in the USA at the AHR Expo, one of the largest expositions for the Heating, Venting, Air-Conditioning and Refrigeration (HVAC-R) industry in North America, with over 1,600 HVAC-R manufacturers exhibiting their products and services to more than 50,000 visitors in Chicago, USA, from the 22^nd to 24^th January 2024.

The product was launched under the new joint brand name “Nu-Calgon CoolWorx® powered by GMG Graphene” – as seen in Figure 1.0. The joint brand was in line with GMG’s PRODUCT COMMERCIALISATION PROCESS, CORPORATE GROWTH & CHANNEL STRATEGY outlined in the Company’s announcement on the 6^th September 2023.

Figure 1.0 “Nu-Calgon CoolWorx® powered by GMG Graphene Brand” Joint Brand for THERMAL-XR® Coating.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/196167_gmg1en.jpg

THERMAL-XR® Canada Approval:

The Department of Environment and Climate Change Canada (ECCC) has noted that THERMAL-XR®, powered by GMG Graphene, is approved for import and use within Canada. This paves the way for Canadian businesses, operating in HVAC-R industry, to access this cutting-edge coating solution through our North American Distributor Nu-Calgon.

THERMAL-XR® USA Approval:

THERMAL-XR® is progressing through the USA Environmental Protection Agency’s (EPA) approval process to import and sell in the USA. All the required documentation has been submitted, and the EPA has assigned a case number as part of the thorough evaluation of the product’s safety and environmental impact. The Company believes the anticipated approval will be received in Q1 2024.

GMG’s Managing Director and CEO, Craig Nicol, commented: “I am very excited to see Nu-Calgon officially launch the product at the Chicago AHR Expo and also to see the Canadian Government approve THERMAL-XR® powered by GMG Graphene for importation and sale in Canada. The Company is expecting the USA EPA approval in short order and then after this we can start selling into the largest HVAC-R coating market in the world – the United States of America with our distributor partner Nu-Calgon.”

GMG’s 4 critical business objectives are:

1. Produce Graphene and improve/scale cell production processes
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

About THERMAL-XR® powered by GMG Graphene:

THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.

THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDING

About GMG www.graphenemg.com

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the impact of the ECCC approval of THERMAL-XR®, the ability of Canadian businesses in the HVAC-R industry to acquire THERMAL-XR®, the Company’s progression through the EPA approval process to import and sell THERMAL-XR® in the United States, and its expectations regarding when EPA approval will be received.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the Company’s belief that ECCC approval will pave the way for Canadian businesses in the HVAC-R industry to acquire THERMAL-XR® from Nu-Calgon, that the Company will be successful in its EPA application to approve THERMAL-XR® for import and sale in the United States, and that the Company will receive the EPA approval in the first quarter of 2024. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the ECCC approval will not pave the way for Canadian businesses in the HVAC-R industry to acquire THERMAL-XR® from Nu-Calgon, that the Company will not receive EPA approval for the sale and import of THERMAL-XR® in the United States on the expected timeline, if at all, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196167

Copyright 2024 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – December 19, 2023) – Graphene Manufacturing Group Limited (TSXV: GMG) (“GMG” or the “Company”) is pleased to announce the commissioning of its cutting-edge natural gas to graphene production plant in manufacturing facility at Richlands, Australia.

The facility is based on the GMG plasma technology with which the Company’s existing production plant has been making graphene for over five years, however this new plant is built in a modular fashion which can allow more production units to be installed as the sales of Company’s products grows.

GMG expects to be able to install at least an additional 20 graphene production units in the Richlands manufacturing facility with most of the supporting infrastructure for these additional production units already installed as part of this initial project.

Figure 1: Graphene Production Plant Project Team

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/191561_fe3fb3fb542d4851_001full.jpg

The details of the new modular Graphene Production Plant:

• Technology is based on GMG’s self developed plasma technology which splits natural gas into graphene and hydrogen gas.
• The production plant’s automation allows for repeatable graphene quality, higher plant reliability and lower operator time.
• The graphene production technology has been developed internally by GMG staff and continuously optimised over the past five years to be able to make the different graphene required for GMG’s end products – including THERMAL-XR(R) and G(R) LUBRICANT and Graphene Aluminium Ion Battery.
• The Company expects that Graphene production from both its existing plant and this newly started up plant will be adequate for next year’s production.
• The expected final cost of the facility is approximately AU $2.9 million – which also includes the infrastructure for other future modular production units.
• More production units will be installed as required for the Company’s sales.
• The modular plant can be built in various locations around the world, for example in North America where natural gas cost is low and abundantly available, significantly reducing the cost of the graphene. At scale the GMG graphene production process will produce large amounts of hydrogen.

GMG’s Managing Director and CEO, Craig Nicol, commented: “We are very excited to have started up this new modular graphene manufacturing plant – it is a significant milestone for the company. It uses GMG’s self developed cutting edge plasma technology which creates the high quality graphene GMG’s end products need to deliver their astounding benefits.”

THERMAL-XR(R) EPA Update:

The United States Environmental Protection Agency (EPA) has requested a 30-day extension to review the GMG/Nu-Calgon Premanufacture Notice (PMN) for the THERMAL-XR(R) power GMG Graphene(R) Low Volume Exemption (LVE) application to be able to sell THERMAL-XR(R) into the United States of America. The extension will allow the EPA to continue their assessment of the detailed submission put forward by GMG and Nu-Calgon. GMG is expecting a decision on the PMN LVE to be finalised in the first quarter of 2024.

About GMG www.graphenemg.com

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of G+AI Batteries.

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation: statements relating to the new plant allowing more production units to be installed; statements relating to the expected cost and construction of the new plant and subsequent plants; that graphene production technology developed internally by GMG staff will make the different graphene required for GMG’s end products – including THERMAL-XR(R) and G(R) LUBRICANT and Graphene Aluminium Ion Battery; that Graphene production from both its existing plant and this newly started up plant will be adequate for next year’s production; that at scale the GMG graphene production process will produce large amounts of hydrogen; and the expected timing of the EPA’s decision on the PMN LVE.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation: assumptions relating to the costs of engineering, installation and materials being as expected; the construction of the initial plant and subsequent plants proceeding as planned; the Graphene production from both the Company’s existing plant and this newly started up plant being as anticipated; that the Company will obtain appropriate funding in the future to install more plants; and that the EPA’s decision of the PMN LVE will be delivered on the expected timeline.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the costs of engineering, installation and materials are not as expected; that the construction of the initial plant and subsequent plants do not proceed as planned or at all; that the Graphene production from both the Company’s existing plant and this newly started up plant is not as expected; that the Company does not obtain appropriate funding in the future to install more plants; that the EPA’s decision of the PMN LVE is not delivered on the expected timeline; risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets; the volatility of global capital markets; political instability; the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel; unexpected development and production challenges; unanticipated costs; and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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