Graphene Manufacturing Group Ltd (TSXV:GMG) has worked with the Australian Government’s Department of Health to have its Graphene approved for use as a component within industrial coatings.
The Commercial Evaluation Authorisation encourages innovation by providing a pathway to manufacture chemicals in Australia for the purpose of evaluating its commercial potential. The Authorisation was granted after GMG’s submission was assessed against specified criteria including management of potential health and environmental risks.
This authorisation is issued under the Industrial Chemical Act 2019 and approves the use of THERMAL-XR RESTORE® powered by GMG Graphene, to authorised GMG customers covered by the approval.
Research and Development trials conducted show that the coating -THERMAL-XR® powered by GMG Graphene, has the potential to save energy consumption and reduce emissions whilst providing ongoing asset protection in Heating, Ventilation, Air Conditioning and Refrigeration (HVAC-R) systems.
With cooling being the largest energy consumption in buildings (up to 60% according to International Energy Agency) and demand continuously on the rise, the opportunity for THERMAL-XR® is significant.
Cautionary Note Regarding Forward-Looking Statements.
This document contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation, including statements relating to: (a) regulatory approvals for THERMAL-XR®; (b) the demand for THERMAL-XR® and cooling; and (c) management’s expectations of the effects of THERMAL-XR® and cooling as a result of its research and development trials.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the ability of the Company to obtain all regulatory approvals for THERMAL-XR®, that the expected results of cooling and the THERMAL-XR® will be consistent with the Company’s expectations as a result of the research and development trials, and that the market demand for the Company’s THERMAL-XR® will be consistent with the Company’s expectations. 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: (a) the Company will not be able to obtain all regulatory approvals for THERMAL-XR®, (b) the expected results of cooling and the THERMAL-XR® will not be consistent with the Company’s expectations as a result of the research and development trials, and (c) there will be not global market trend or demand for THERMAL-XR® or cooling; and (d) public health crises such as the COVID-19 pandemic may adversely impact the Company’s business.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.