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.”
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.
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 [email protected], +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, [email protected] , +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.