June 1st, 2021 – Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”) is pleased to provide the latest update on its graphene aluminium-ion battery technology (“G+AI Battery”) being developed by the Company and the University of Queensland.
Since GMG’s market update on May 11, 2021 (“GMG Graphene Aluminium-Ion Battery Performance Data”), the Company has appointed Director Robbert de Weijer as G+AI Battery Project Director and has instructed the Company’s Head of Technology and Head of Graphene Projects to prioritise the G+AI Battery’s technical progression. In addition, the Company’s new Chief Operating Officer together with the operating team are prioritising the production of the particular graphene needed for G+AI Battery production.
These moves reflect GMG’s determination to positively respond to the many encouraging, and varied inquiries the Company has received regarding the technical and commercial application of G+AI Batteries.
GMG’s Chief Executive Officer and Managing Director, Craig Nicol, stated: “More than 80 incoming requests from across the globe have been received by the Company from organizations seeking to explore potential applications in electric consumer vehicles, high-performance cars, heavy duty vehicles, motor bikes, air transport, personal appliances such as laptop computers and phones, grid-connected storage, and others. Several parties noted, among other things, the potential high power density of graphene aluminium-ion batteries which enables faster-charging; that graphene aluminium-ion batteries are expected to be greener and be able to be produced without lithium and rare earths; that the performance of such batteries are expected to be safer, with much lower fire risk; and finally that graphene aluminium-ion batteries are expected not to require the complexity and weight of cooling systems required by lithium-ion battery technology. The Company is encouraged by this initial interest and will continue to provide regular updates regarding the performance and development of its graphene aluminium-ion batteries as the research and development and commercial programmes progress.”
GMG is in the process of signing non-disclosure agreements with certain parties to provide for a confidential exchange of information in connection with the evaluation of a potential business relationship between the parties. In particular, the Company intends to determine whether it should engage such parties to assist in, among other things, defining the battery specifications for GMG’s pouch pack for certain applications.
As previously announced, GMG is seeking to bring coin cell commercial prototypes into production for customer testing in approximately 6 months and a pouch pack commercial prototype – used in mobile phones, laptops etc. – for customer testing in approximately 18 months.
The Company is also pleased to announce that it has engaged B. Riley Securities as its exclusive capital markets advisor and sponsor in connection with seeking quotation of the Company’s shares on the OTCQB market in the United States. The OTCQB is a leading market for entrepreneurial and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process.
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 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.
For further information, please contact:
– Craig Nicol, Chief Executive Officer and Managing Director of the Company at [email protected], +61 415 445 223
– Leo Karabelas at Focus Communications, [email protected], +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 manufacturing of prototypes by GMG and UQ, anticipated timelines for commercial prototypes and customer testing, the development and viability of GMG’s production facilities, the location of GMG’s production facilities, and the results arising from and application of GMG’s graphene aluminium-ion batteries. 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