BRISBANE, QUEENSLAND, AUSTRALIA – June 24th, 2021 – Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG” or the “Company”) is pleased to announce that it will join the Future Battery Industries Cooperative Research Centre (“CRC”) for Battery Electrolytes along with various organizations and universities. The CRC’s objective is to develop advanced electrolyte systems that improve battery performance. The project will run over a period of 4 years with GMG providing a source of graphene and personnel time to the project.
GMG’s Chief Scientific Officer Dr Ashok Nanjundan said, “This is another exciting energy storage development project showcasing the potential uses of GMG’s graphene for the further development of various existing battery technologies”.
The CRC brings together almost 60 industry participants, including eight universities, the Commonwealth Scientific and Industrial Research Organization, and Federal and State Governments. A six-year research and development program will target all segments of the battery value chain to deliver commercially proprietary outcomes to accelerate industry expansion and grow a vibrant, emerging battery sector. With approximately A$130 million cash and in-kind contributions, the CRC is focused on Australia as a leader in battery industries that seeks to create a new generation of highly skilled workers equipped to deliver energy materials of the future.
About Future Battery Industries Cooperative Research Centre
The Future Battery Industries Cooperative Research Centre is enabling the growth of battery industries to power Australia’s future. It brings together industry, researchers, governments, and the community to ensure Australia plays a leading role in the global battery revolution.
The CRC is critical in making Australia’s industries more competitive by harnessing the research skills and industry expertise required to create new economic opportunities.
For further information: https://fbicrc.com.au/
GMG is an Australian based clean-tech disruptive 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 also 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 lube oil, biodiesel and diesel fuels.
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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 deployment of the Company’s resources, including its personnel; goals, outcomes and results of the activities of the CRC; and the intention of the Company to research, develop and produce certain products. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the accuracy of the Company’s cost and timing expectations, and the Company’s continued participation with the CRC. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final long form non-offering prospectus dated March 31, 2021 available for review on the Company’s profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. 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. 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.