BRISBANE, QUEENSLAND, AUSTRALIA – March 6th, 2023 – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG ” or the “Company”) is pleased to provide an update on its ongoing investment in the Company’s Battery Development Centre (“BDC”). Critical members of GMG’s Battery Team have visited its United Kingdom partners to inspect and test the partially automated cell assembly equipment.

In December 2022, the GMG Board approved additional capital expenditure, to accelerate the progress of semi-automatic pouch cell prototype production in the BDC for customer trials and Graphene Aluminium Ion (G+AI) Battery cell development.

The equipment will automate key steps in cell assembly for pouch cells to reduce manual processing and enable consistent and simple repeatable outputs, all of which the Company considers important for the next stage of GMG’s G+AI battery development roadmap.

GMG’s Managing Director and CEO, Craig Nicol, commented: “We anticipate this investment will significantly improve GMG’s capability and flexibility to further develop GMG’s G+AI Battery pouch prototypes in various sizes in a wider group of potential customers. We look forward to the prototype assembly equipment being operational by the end of 2023.”

GMG intends to expand the Battery Development Centre, work with various scientific and engineering methods to optimise capacity, energy and power density, other battery parameters and overall design to achieve production of commercial coin cell and/or pouch cell prototypes.

This milestone aligns with GMG’s 4 critical Business Objectives, namely

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

About GMG

GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (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, low cost, 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 and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.

www.graphenemg.com

For further information, please contact:

• Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, info@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 regarding: the expectation that the BDC will further the Company’s ability to develop, manufacture and test its G+AI Battery coin cell and pouch packs, and that such capability may accelerate the development of the Company’s G+AI Batteries; the expectation that the additional assembly equipment will be operational by the end of 2023; GMG’s expectations relating to the production and sales of G+AI Batteries, and; the expectation that the Company will meet its objective in the development of the Next-Generation Battery.

These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company’s resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format; the ability of the Company to have the additional assembly equipment operational by the end of 2023; the ability of the Company to meet its expectations relating to the production and sales of G+AI Batteries, and; the ability of the Company to meet its expectation objectives regarding the development of the Next-Generation Battery.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format; the ability of the Company to have the additional assembly equipment operational by the end of 2023; the ability of the Company to meet its expectations relating to the production and sales of G+AI Batteries, and; the ability of the Company to meet its expectation objectives regarding the development of the Next-Generation Battery.

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.

 

BRISBANE, QUEENSLAND, AUSTRALIA – February 22, 2023 – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG” or the “Company”) is pleased to advise of the receipt of regulatory and local council approvals for the commercial scale manufacturing of batteries at its existing Richlands site in Brisbane Australia. To date GMG has been adhering to a research and development regulatory approval to make battery cell prototypes. In addition, this site already has council approvals that allow GMG to manufacture its graphene.

These regulatory approvals are an important step in GMG’s consideration at an appropriate future time to build and operate a battery manufacturing plant at the GMG Headquarters at Richlands.

To that end, GMG continues to advance its Battery Development Roadmap, including:

– Further develop, engineer, design and test battery prototype components to achieve the user-required performance data for potentially either coin cell or pouch cell battery.
– Further design engineering and production testing of manufacturing systems to enable the manufacture of the prototypes in a semi or fully-automated process.
– Solidification of necessary supply agreements.
– Full constraints analysis of the existing building – ensuring existing warehouse and electricity supply are adequate for the final plant design and fit within the constraints of the development approval.
– Delivery of the Graphene Expansion Project and review of further expansion projects as required.
– Full battery prototype testing and quality assurance to international standards, regulations and approvals where required.
– Work towards securing battery sales agreements.
– An organisational team and financial funding requirements.
GMG’s Managing Director and CEO, Craig Nicol, commented: “This is another milestone in the maturation of the Company. This allows GMG to take its battery development roadmap further with reassurance that government approvals have been granted to build and operate a plant at our existing location.”

This milestone aligns with GMG’s 4 critical Business Objectives, namely

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

About GMG

GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (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, low cost inputs, 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 and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.

www.graphenemg.com

For further information, please contact:

• Craig Nicol, Chief Executive Officer and Managing Director of GMG at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, info@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 regarding: the Company’s plans to build and operate a battery manufacturing plant at the Company’s Headquarters at Richlands; the expectations regarding the growth and development of the Company, and; the Company’s ability to obtain the necessary regulatory approvals to complete its current growth and development strategy.

These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company’s resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to build and operate a battery manufacturing plant at the Company’s Headquarters at Richlands; the ability of the Company to recognize its expectations regarding the growth and development of the Company, and; the ability of the Company to obtain the necessary regulatory approvals to complete its current growth and development strategy.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines; the ability of the Company to build and operate a battery manufacturing plant at the Company’s Headquarters at Richlands; the ability of the Company to recognize its expectations regarding the growth and development of the Company, and; the ability of the Company to obtain the necessary regulatory approvals to complete its current growth and development strategy.

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.

 

BRISBANE, QUEENSLAND, AUSTRALIA – February 13, 2023 – Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”) is pleased to announce the full and final approval of all GMG’s Graphene products from the Australian Industrial Chemicals Introduction Scheme (AICIS) of the Australian Government Department of Health and Aged Care under Assessment statement CA09624.

AICIS approval allows GMG to significantly increase the production and sale of GMG graphene-enhanced products including:

• Coatings: THERMAL-XR® and other industrial coatings as developed;
• Automotive Fluids: G® LUBRICANT, G® COOLANT and other automotive liquids as developed;
• Fuel: G® DIESEL ; and
• Batteries: including for GMG’s Graphene Aluminium Ion Battery.
This AICIS approval will enable the fulfilment of targeted THERMAL-XR® and G® LUBRICANT sales to industrial customers in Australia and in countries where no further international approvals are needed. Prior to this approval only smaller volumes to a restricted customer list were permitted. The subsequent targeted development of other GMG products, including Graphene Aluminium ion batteries, will similarly be enabled by AICIS with this approval – although the battery will likely need further testing and approval to international battery standards and regulations before sale.

The following conditions apply to this AICIS approval:

• 10 tonnes per annum of total graphene powder.
• Products are to be used in a professional setting except for batteries which can also be sold to end consumers directly.
• Certain maximum percentages are allowed per product type.
• Environmental compliance requirements including no discharge to water ways.

GMG’s CEO Craig Nicol stated, “I am very pleased to see the full and final product regulator approval for our graphene products from AICIS – enabling GMG to enter the next phase of its commercial maturation to focus on developing, marketing, selling and producing its products. This is one of the first nanomaterials approved under the AICIS regulations which came into being on 1 July 2020 with significant revised nanomaterial chemical classification and introduction changes from the previous regulator scheme and is a credit to GMG’s technical staff in achieving this approval.”

About AICIS

The Australian Industrial Chemicals Introduction Scheme (AICIS) helps protect Australians and the environment by assessing the risks of industrial chemicals and providing information to promote their safe use. AICIS is the national regulator of the importation and manufacture of industrial chemicals in Australia. AICIS is an agency within the Department of Health.

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, with low cost inputs, 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 and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, info@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 Company’s development plans.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the success of the Company’s development plans.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company’s resources and personnel and the accuracy of the Company’s expectations regarding the Company’s development plans.

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.

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG” or the “Company”) is pleased to provide an update to the composition of the Company’s leadership, technical and projects teams intended to support and accelerate the Company’s next phase of development.

GMG believes there are important business opportunities related to GMG’s targeted ‘energy saving’ and ‘energy storage’ solutions, which continue to provide strong encouragement for the Company to invest resources to drive targeted sales from its energy saving business and support the continued maturation of GMG’s graphene-Aluminium Ion battery technology.

To better support and accelerate these opportunities the previously separate Technology and Projects teams will be combined into the Projects Team to better integrate the R&D of graphene production with development of the graphene production plant, the liquid graphene blend plant and the targeted development of the automated battery manufacturing pilot plant. This change is aimed at enhancing opportunities for improvement in process technology and project delivery and accelerate time to market for our future projects.

In connection with this change in team composition, GMG is pleased to announce that Bobby Bran has been promoted to the role of Chief Projects Officer, leading the combined Technology and Projects teams. Bobby has been with GMG for over 4 years most recently as Production Manager and Head of Major Projects. Mr Bran has over 10 years of experience delivering large-scale multi-million dollar civil engineering projects on behalf of several major contractors. Bobby has experience in a diverse range of disciplines with expertise in project leadership and management – including safety in construction.

Jeffrey Morris former Chief Technology Officer has left GMG to pursue other opportunities and the Company thanks him for his tireless efforts over the last two years to progress the automation and development of the graphene production process.

GMG’s CEO Craig Nicol stated, “I am very pleased to see Bobby promoted to the role of Chief Projects Officer leading the combined Projects and Technology teams. This new combined team will improve our engineering capability to deliver our future production assets.”

GMG’s Chair Guy Outen stated, “I congratulate Bobby on his promotion to Chief Projects Officer and look forward to his continuing strong leadership of a talented team to further leverage GMG’s technical capabilities to enhance and accelerate our commercial aspirations.”

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”).

For further information, please contact:
– Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
– Leo Karabelas at Focus Communications, info@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 Company’s development plans and the Technology and Projects teams combining into the Projects Team.

These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the effectiveness of Company’s deployment of resources, the success of the Company’s development plans and the successful combination of the Technology and Projects teams into the Projects Team.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company’s resources and personnel, the accuracy of the Company’s expectations in the energy saving and storage space and the successful combination of the Technology and Projects teams into the Projects Team.

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.

 

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V:GMG; FRA:0GF) (“GMG” or the “Company”) is pleased to announce the appointments of Lisa Roobottom as Chief Operating Officer (“COO”) and Paul Mackintosh as Chief Health, Safety, Environment, Quality, Risk and Sustainability Officer (“Chief HSE, Risk & Sustainability Officer”), effective on the on the 30th day January, 2023 and 6th day of February, 2023 respectively. Lisa and Paul will be members of GMG’s senior executive leadership team reporting to, and working closely with, CEO Craig Nicol.

Lisa Roobottom has a career in the Oil & Gas and Manufacturing industries spanning approximately 30 years, working in a number of roles include Refinery Operations Manager and National Health, Safety & Environment Manager at various companies including Caltex, Ampol, Australian Laboratory Services and, most recently, Alpha HPA.

Paul Mackintosh has over 20 years of experience in fulfilling senior roles in the Health, Safety and Environment function. Mr Mackintosh has worked for large organisations in the mining, energy, manufacturing and oil and gas industries including senior positions at Arrow Energy, Origin Energy, Brickworks and Caltex, as well as with Coles Myer retail and energy divisions.

GMG’s current COO, Sheena Ward, has successfully overseen both roles as COO and Chief HSE, Risk & Sustainability Officer through GMG’s recent development phase. With GMG’s growth plans currently underway, the Company has deemed it appropriate to now divide the roles. Sheena will be primarily responsible for onboarding both Lisa and Paul, after which Sheena intends on transitioning out of the Company to spend more time with her family.

GMG’s CEO Craig Nicol stated, “I am very pleased to see Lisa and Paul join the GMG team. Their capability and experience will add to maturing and progressing the Company. I also want to thank Sheena for her extreme dedication to lead and manage the operations team including production, supply chain and health, safety and environment team members through the last two years of growth and we all wish her the very best for her next opportunity that aligns with her goals to spend more time with her family.”

GMG’s Chair Guy Outen stated, “I look forward to welcoming Lisa and Paul to the leadership team at GMG to help drive the next stage of the Company’s growth. The Board and I also want to thank Sheena for her very important contributions to the company in establishing the foundations for successful production and health, safety and environment activities that we are confident will serve the Company well hereafter. We all wish her the very best with her family and with whatever she chooses to do in the future.”

About GMG

GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (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, low cost, 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 and other sources of low input cost graphene, the Company is developing value-added products that target the growing energy efficiency and energy storage markets.

The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.

www.graphenemg.com

For further information, please contact:

• Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, info@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 regarding the effective date of appointment of Ms. Roobottom as COO and Mr. Mackintosh as HSE & Risk Officer, and Ms. Ward’s subsequent departure from the Company.

These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the successful onboarding of Ms. Roobottom and Mr. Mackintosh and that Ms. Roobottom is appointed as COO and Mr. Mackintosh is appointed as HSE & Risk Officer as of the effective dates currently anticipated.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the effective date on which Ms. Roobottom will be appointed as COO and Mr. Mackintosh will be appointed as HSE & Risk Officer, and that Ms. Ward will subsequently depart from the Company following the onboarding of Ms. Roobottom and Mr. Mackintosh.

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.

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG” or the “Company”) is pleased to release results of heat transfer demonstrations of Aluminium coated with THERMAL-XR® (TXR) powered by GMG Graphene, compared to uncoated bare Aluminium.

The University of Queensland Materials Performance consultancy (“UQMP”) verified that GMG’s THERMAL-XR® when applied to aluminium reduces the surface temperature by approximately 15% in temperatures between 70C and 90C.

GMG’s experiment results are shown below. The same 10mm thick aluminium plate was divided into two parts, GMG’s THERMAL-XR® was applied to the top side of one half of the plate, while the other remained uncoated. The same heat source was applied to the underside of both adjacent plates simultaneously. Temperature measurements were then taken from the top and bottom sides of both plates as the heat source was cycled up and down.

Managing Director and CEO, Craig Nicol stated “This is a powerful demonstration of GMG’s THERMAL-XR®’s ability to increase the transfer of heat. The graphene-enhanced heat transfer properties of THERMAL-XR® are apparently outweighing the traditional insulating effect of coatings. GMG believes the ability to increase heat transfer with a simple application of the technically advanced GMG THERMAL-XR® can make a significant contribution to improved performance and efficiency while reducing energy demand in a wide range of applications.”

When the THERMAL-XR® coating was applied to the top side of the 10mm aluminium plate, more heat transfer was observed away from the common heat source (compared to the panel that had no coating). Furthermore, the non-coated underside of the coated panel – being the side directly exposed to the heat source – remained approximately 15% cooler than the heat-exposed side of the uncoated panel, within the temperature range of 70° C to 90° C.

 

GMG’s product demonstration shows THERMAL-XR® coating increases heat transfer when applied to aluminium.

THERMAL-XR® powered by the GMG Graphene coating system is a unique method of improving the conductivity of heat exchange surfaces, resulting in an efficiency improvement and a potential power reduction when applied to air conditioning condenser coils or other industrial processes needing heat transfer.

The performance of existing air conditioners can also be increased with THERMAL-XR® process fluids (PREP and ACTIVATE) which clean and remove corrosion on the coil before applying the THERMAL-XR® RESTORE.

Relevance to Heat Exchangers (in Air Conditioners and Industrial Applications)

GMG is undertaking further assessments on other metals used in heat transfer applications and at various temperature settings and will publish market updates from time to time on these.

GMG is a proud member of Stanford University’s Thermal and Fluid Sciences Affiliates Program (see 10th May 2022 Announcement) and will continue to work with UQMP on heat transfer data verification.

GMG is working with a number of companies globally to engage distributors and direct sales for the HVAC-R maintenance market. Furthermore, GMG is engaging with various companies for direct selling of THERMAL-XR® for industrial applications with high energy requirements, and high emissions – including oil and gas production, power generation, liquified natural gas production, mining, and mineral processing.

About The University of Queensland Materials Performance (UQMP)

UQ Materials Performance was founded in 1998 and has since grown to become one of Australia’s leading materials engineering consultancies. Our mission statement:

UQ Materials Performance serves the needs of society by applying research methodologies to answer technical questions. UQMP strengthens UQ research by building relationships of trust with industry partners, systematising knowledge gained in short‐term projects, generating seed funding, and by direct involvement in structured research. UQMP inspires student learning by generating professional case studies which show their discipline in action.

UQMP has a dedicated team of engineers and industrial chemists with a wide range of experience and specialty skills. Our diverse and cross-disciplinary problem-solving approach also brings fresh perspectives to projects. Our team works closely together with our clients to clearly understand, define and tackle problems in a systematic yet direct manner. Our access to the world-class facilities of The University of Queensland puts us at the forefront of analytical science and engineering.

UQ Materials Performance operates out of The University of Queensland Advanced Engineering Building. We share the building with the Centre for Advanced Materials Processing and Manufacturing (AMPAM) and the School of Civil Engineering allowing close collaboration on consulting and research projects.
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, low cost, 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.

For further information please contact:
• Craig Nicol, Chief Executive Officer and 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, the impact of THERMAL-XR® on heat transfer and its potential applications and expected performance, management’s expectations of the effects of Thermal-XR®, the intention of the Company to research, develop and produce certain products, and the Company’s intention to engage third parties to assist in the distribution and sale of its products and statements.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the ability of the Company to achieve the expected results of its THERMAL-XR®, that the Company will be able to research, develop and produce certain products as anticipated, and that the Company will be able to engage third parties and develop relationships to assist in the development, distribution and sale of its products. Additionally, forward-looking information involve 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: the Company will not be able to use THERMAL-XR® as expected or the performance, safety profile and production and maintenance requirements of the THERMAL-XR® coating system will not be consistent with management’s expectations, the impact of Thermal-XR® will not be consistent with management’s expectations, the Company will not be able to research, develop and produce certain products, the Company will not be successful in engaging third parties and developing relationships to assist in the development, distribution and sale its products, public health crises such as the COVID-19 pandemic may adversely impact the Company’s business and the ability of the Company to develop its products, 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 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 18, 2022 available for review on the Company’s profile at www.sedar.com.

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.

BRISBANE, QUEENSLAND, AUSTRALIA – December 12, 2022 – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG ” or the “Company”) is pleased to provide an update on its ongoing investment in the Company’s Battery Development Centre (“BDC”). The GMG Board has approved an additional $AU 600,000 in capital expenditure, to accelerate the progress of semi-automatic pouch cell prototype production in the BDC for customer trials and Graphene Aluminium Ion (G+AI) Battery cell development. The Company has also successfully increased its organisational capacity by attracting new staff experienced in pouch cell manufacturing, thereby enabling the acceleration of its battery performance optimisation programme.

GMG believes its pouch cells could be used in a wide range of potential applications, including:
• personal communication devices,
• internet of things (IOT) sensors,
• personal mobility devices,
• energy storage,
• high power industrial applications,
• electric aviation,
• electric vehicles and
• personal electronics

GMG Pouch Pack Cell Prototype

GMG’s Managing Director and CEO, Craig Nicol, commented: “This investment adds to our existing pouch cell manufacturing capabilities and together with GMG’s internal expertise the Company is now focused on progressing collaborative partnerships with several potential battery customers to further accelerate commercial development work in 2023.”

 

GMG Battery Development Centre

The additional CAPEX expenditure will assist with future optimisation, prototype development and production, and assembly times in the BDC. The additional equipment is expected to be operational in Q2 2023.

GMG will continue to work with various scientific and engineering methods to optimise capacity, energy and power density, and overall design of coin cell and/or pouch cell products.

About GMG

GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (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, low cost, 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 and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.

For further information, please contact:

• Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, info@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 regarding the expectation that the Pilot Battery Plant will allow the Company to develop, manufacture and test its own G+AI Battery coin cell and pouch packs in-house and that such capability may accelerate the development of the Company’s G+AI Batteries; the expectation that additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format will arrive in January 2022; GMG’s expectations relating to construction of an initial commercial coin cell G+AI Battery manufacturing facility, production and sales of G+AI Batteries and the anticipated timing of such events; the proposed location of the anticipated manufacturing facility; and the potential full commercialization of the Company’s technology.

These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company’s resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format and the timeline for such acquisition; the ability of the Company to complete construction of an initial commercial coin cell G+AI Battery manufacturing facility, including obtaining necessary permits; timing of anticipated construction; and fluctuations in the market for graphene.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format in a timely manner; the costs associated with commissioning a pouch cell G+AI Battery manufacturing and testing equipment; the ability of the Company to obtain necessary production permits; the continued demand for graphene; sufficient demand for the Company’s products; and that in-house production of G+AI Batteries by the Company will be cost-effective.

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.

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”), is pleased to announce that it has entered into an agreement pursuant to which Eight Capital as lead underwriter and sole bookrunner, together with a syndicate of underwriters (collectively, the “Underwriters”), will purchase 1,819,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $2.75 (the “Issue Price”) for gross proceeds of $5,002,250 (the “Offering”).

Each Unit shall be comprised of one ordinary share in the capital of the Company (a “Share”) and one ordinary share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of $3.35 for a period of 48 months following the closing date of the Offering.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.

The Company intends to use the net proceeds of the Offering for growth initiatives, working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about November 29, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “TSXV”) and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

GRAPHENE MANUFACTURING GROUP LTD.
Per: “Craig Nicol”
Craig Nicol
Chief Executive Officer and Managing Director

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, low cost, 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.

For further information, please contact:

– Craig Nicol, Chief Executive Officer, and Managing Director of GMG
craig.nicol@graphenemg.com
+61 415 445 223

– Leo Karabelas at Focus Communications Investor Relations (FCIR)
leo@fcir.ca
+1 647 689 6041

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

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. In particular, this news release contains forward-looking information pertaining to the following: the likelihood of completion of the Offering, the use of proceeds from the Offering, the anticipated closing date of the Offering and the ability to obtain the necessary regulatory authority and approvals in connection with the Offering.

In making the forward-looking information in this release, GMG has applied certain factors and assumptions that are based on GMG’s current beliefs as well as assumptions made by and information currently available to GMG. Although GMG considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such factors include, among others: the inability to obtain the necessary regulatory approvals from the applicable securities regulators or obtain the approval of the TSXV in connection with the Offering, the occurrence of a material adverse change, disaster, change of law or other failure to satisfy the conditions to closing of the Offering; the inability of the Company to apply the use of proceeds from the Offering as anticipated; the ability of the Company to achieve its corporate objectives or otherwise advance the progress of GMG; an inability to predict and counteract the effects of COVID-19 on the business of the Company; general market and industry conditions; and those risks set out in the Company’s public documents filed on SEDAR.

Readers are cautioned not to place undue reliance on forward-looking information. GMG does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”), is pleased to announce that it has entered into an agreement pursuant to which Eight Capital as lead underwriter and sole bookrunner, together with a syndicate of underwriters (collectively, the “Underwriters”), will purchase 1,819,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $2.75 (the “Issue Price”) for gross proceeds of $5,002,250 (the “Offering”).

Each Unit shall be comprised of one ordinary share in the capital of the Company (a “Share”) and one ordinary share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of $3.35 for a period of 48 months following the closing date of the Offering.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.

The Company intends to use the net proceeds of the Offering for growth initiatives, working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about November 29, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “TSXV”) and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

GRAPHENE MANUFACTURING GROUP LTD.
Per: “Craig Nicol”
Craig Nicol
Chief Executive Officer and Managing Director

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, low cost, 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.

For further information, please contact:

– Craig Nicol, Chief Executive Officer, and Managing Director of GMG
craig.nicol@graphenemg.com
+61 415 445 223

– Leo Karabelas at Focus Communications Investor Relations (FCIR)
leo@fcir.ca
+1 647 689 6041

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

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. In particular, this news release contains forward-looking information pertaining to the following: the likelihood of completion of the Offering, the use of proceeds from the Offering, the anticipated closing date of the Offering and the ability to obtain the necessary regulatory authority and approvals in connection with the Offering.

In making the forward-looking information in this release, GMG has applied certain factors and assumptions that are based on GMG’s current beliefs as well as assumptions made by and information currently available to GMG. Although GMG considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such factors include, among others: the inability to obtain the necessary regulatory approvals from the applicable securities regulators or obtain the approval of the TSXV in connection with the Offering, the occurrence of a material adverse change, disaster, change of law or other failure to satisfy the conditions to closing of the Offering; the inability of the Company to apply the use of proceeds from the Offering as anticipated; the ability of the Company to achieve its corporate objectives or otherwise advance the progress of GMG; an inability to predict and counteract the effects of COVID-19 on the business of the Company; general market and industry conditions; and those risks set out in the Company’s public documents filed on SEDAR.

Readers are cautioned not to place undue reliance on forward-looking information. GMG does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

 

BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”) is pleased to provide the latest progress and performance update on its Graphene Aluminium-Ion Battery technology (“G+AI Battery”) being developed by GMG and the University of Queensland (“UQ”) and the GMG battery grade graphene production quality program. Notably, this update includes information about GMG’s G+AI Battery regarding:

• GMG’s Graphene Aluminium-Ion Battery calculated energy density has increased to 290-310 Wh/kg, an increase of 93% since the last battery update on 22nd June 2021
• Power density has also increased to around 9,350 W/kg, a 33% increase since previous update
• Battery cell enhancements and repeatability
• Growing confidence in repeatability of battery grade quality graphene production at scale
• Next steps toward commercialisation

Improved Battery Technology Performance

Ongoing development from GMG’s Battery Team has resulted in a significant increase in battery performance of GMG’s Graphene Aluminium-Ion Battery. Latest testing data has demonstrated a calculated energy density that has increased by 93% from 150-160 Wh/kg to 290-310 Wh/Kg since the last battery update on the 22nd of June 2021 (“Previous Announcement”).

Performance data presented in this release was calculated off GMG’s specific coin cell design and testing data, which has been separately verified by the Australian Institute for Bioengineering and Nanotechnology at the UQ as against other aluminium ion batteries and two commonly used lithium-ion batteries produced and used worldwide (see table and graph below).

Source: (1) Hongjie Dai, Nat. Commun., 2017, 8:14283, (2) Hongjie Dai, Nature, 2015, 520, 325, (3) and (4). University of Queensland validated GMG testing data.* (5). CATL 3.2V 150Ah LiFePO4 Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 (6). CATL 3.7V 65Ah NCM Lithium Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 7 *GMG testing data is based on industry standard estimate methodology – using a reducing factor of 2.3.

 

Source: (1) Hongjie Dai, Nat. Commun., 2017, 8:14283, (2) Hongjie Dai, Nature, 2015, 520, 325, (3) and (4). University of Queensland validated GMG testing data.* (5). CATL 3.2V 150Ah LiFePO4 Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 (6). CATL 3.7V 65Ah NCM Lithium Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 7 *GMG testing data is based on industry standard estimate methodology – using a reducing factor of 2.3.

GMG’s CEO Craig Nicol stated, “These results show the promise of GMG’s Graphene Aluminium Ion Battery in terms of performance on top of previously announced longevity and sustainability advantages. The outcome was the result of a large piece of work done by GMG’s Battery Team to repeatably make successful batteries, improve almost all of the various components of the battery and the successful transfer of intellectual property from the UQ team.”

Guy Outen, GMG’s Chair added, “I’m delighted with this battery performance update which reflects both the tremendous creativity and hard work of all involved as well as the possibilities of our G+Al Batteries, even at this early stage in their development.  This is a significant step in the development of our G+AI batteries and we look forward to the next steps towards commercialisation.”

This performance improvement is a result of increasing the two main parameters since the Previous Announcement of:

The following chart shows this latest performance achieved:

 

Source: GMG Testing. All testing was carried out on coin cells with GMG Graphene in Aluminium-Ion Battery ambient temperature cycling from 2.7V to 0.5V, 4.5 Coulomb (2.2 A/g) charge rate

This improvement in performance was associated with GMG successfully transferring the intellectual property from UQ’s laboratories to GMG’s Battery Development Centre and Battery Team. GMG now achieves a higher success and pass rate for the cells it makes for development and testing purposes which is a step towards commercial production.

 

Figure 1: Typical G+AI Battery Coin Cell Design

GMG’s Battery Team has conducted work across the entire cell design (as per Figure 1) to improve performance, longevity, and ease of manufacture assembly including:

 

Repeatable Battery Grade Graphene Quality

GMG’s CEO Craig Nicol stated, “The Company’s confidence is growing in the GMG developed scalable process to make graphene from natural gas to a definable and tuneable graphene type for the GMG G+AI Battery in a repeatable fashion. Further testing is planned in the near term to further validate this confidence.”

GMG has also assessed battery performance with several different grades of GMG produced graphene using industry standard tests and have demonstrated repeatable and reproducible performance.  GMG has increasing confidence that it has found an economically sustainable path to scale the graphene process.  On this basis the Company will continue to work towards a final investment decision for first battery production.

GMG also compared the performance of the GMG made graphene, to graphene made by other processes by several other companies and identified GMG’s graphene as having more favourable specific discharge capacity, ie. a higher energy density performance. The Company expects ongoing iteration and improvement over time of both the graphene quality from the GMG graphene production process, as well as the G+AI Battery performance as GMG further develops, deploys and scales both of these technologies.

G+AI Coin Cell Development

The next steps for the coin cells (as seen in Figure 2) are to undertake further engineering and development activities to achieve a coin cell capacity for the desired product application(s) being targeted for initial customer sales.

Figure 2: G+AI Coin cell prototypes.

If this is achieved, subject to government approvals the Company’s Board will consider a Final Investment Decision (“FID”) for an automated coin cell factory and any (further) graphene production capacity expansion required. As part of the FID, GMG’s Board considerations will include, but not be limited to, binding customer sales contracts, the economic costs to build an automated coin cell factory and other operational-level production considerations. GMG is targeting a FID decision in 2023 and the latest production to commence in 2024.

As a precursor, GMG has already committed to invest AU$1.5 million into expanding and relocating its graphene production operations into an adjacent warehouse to its existing headquarters and Battery Development Centre (totalling 3,500 square meters) in Richlands, Queensland, Australia, as announced by GMG on 17 August 2022.

G+AI Pouch Cell Development

The next development steps for the pouch cell (as seen in Figure 3) will follow a similar sequence to the initial development of the coin cell.

When completed GMG will look to update the Technology and Product Road Map for the pouch cell and finalise the end application(s) for the initial market/customer for the pouch cells and therefore finalise the targeted pouch cell capacity. The Company continues to work under confidentiality agreements with a range of potential customers as input to this decision.

Figure 3: GMG Pouch Cell Prototype.

Upon finalising the target market, size and location of the plant and after various conditions are met, the Company may take FID on an integrated gas to graphene and automated pouch cell factory at likely a new location to account for its potential scale. The Company hopes to make significant progress on the pouch cell in 2023.

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, low cost, 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.

For further information, please contact:

– Craig Nicol, Chief Executive Officer, and Managing Director of GMG

craig.nicol@graphenemg.com

+61 415 445 223

 

– Leo Karabelas at Focus Communications Investor Relations (FCIR)

leo@fcir.ca

+1 647 689 6041

 

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the testing and validation of the graphene quality produced in the Company’s production process, the economical sustainability of scaling the graphene and battery production processes, the ongoing improvement of graphene quality from the GMG graphene production process and the G+AI Battery performance, the engineering and development of the coin cell and pouch cell with respect to the current battery performance estimates and calculations, the timing and considerations of potential FIDs, anticipated timelines for commercial production, anticipated next steps for the further development of the Company’s products, the development and viability of GMG’s production facilities, and the location of GMG’s production facilities. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the deployment of the Company’s resources, that the Company will not be able to test or validate the battery grade quality of graphene needed for its products, that it will not be economically sustainable to scale the graphene or battery manufacturing processes, that the quality of the graphene manufactured by GMG and the performance of the G+AI Battery will not set out to be as estimated, calculated or improve, that the Company will not be able to further develop the coin cell and pouch cell technologies, and the timing or results of any FID. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates, and the market demand for the Company’s products. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.